This will probably experience adjustments over the years the clearer this becomes. It’s already seen its series of facelifts.
I’ve been working through Our Rich Journey’s FIRE Master Class, which has been wonderful. My initial FIRE number, however, seemed high.
One thing I need to remember is that I won’t be lounging on the couch all day in front of the TV. I have passion projects I’d like to pursue, some of which could bring income. In retirement, we won’t be STASHING like we are trying to do now. So that brought be away from the edge.
After a series of nips and tucks, our FIRE number is:
$1,800,000
That includes an estimated mortgage payment for our dream home, which I’m aiming high for at about $500,000 (and aiming high in the cash to put down on it….)
We’ll probably opt for an apartment in Costa Rica. Just watch.
But for now, that’s the plan. It seems reasonable, but it makes me realize we really do have a lot of work to do, the sooner, the better.
I also opted to look into other FIRE options:
I’ll be tracking to the traditional FIRE number, but I’m looking forward to a few milestones along the way!
How close are you to your FIRE number?
-K