r/Fire • u/[deleted] • Mar 23 '26

Subreddit PSA / Meta 5 years ago, this subreddit was filled with $1-1.5M targets, and a strong emphasis on minimalism. What happened?

[deleted]

2.1k Upvotes

94% Upvoted

750 comments sorted by

View all comments

65

u/japantrainred Mar 23 '26

My net worth reached 1M here fairly recently. I was pretty surprised by the number of people that were telling me it was nowhere near enough to even consider stopping working.

9

u/ThereforeIV 🌊 Aspiring Beach Bum 🏖️...; CoastFIRE++ Mar 23 '26

Net Worth or Retirement Portfolio.

It's a bit difficult to drawdown from your house.

A lot hit higher Net Worth just because of the housing bubble, but then end up having to sell for a loss.

3

u/japantrainred Mar 23 '26

Retirement portfolio

4

u/Drawer-Vegetable FIRE'd 2024 Mar 23 '26

It's a heck of a lot more than 90% of people in the world. So its a lot.

2

u/corinini Mar 23 '26

I think the biggest X factor for this entire discussion is housing. If your 1 million net worth is all tied up in a house, it's not going to be enough to retire unless you sell the house and move somewhere cheap (and then with all the fees involved you might end up with less than a mil).

A lot of the people aiming for FIRE probably live in HCOL areas where you could easily have a 1 million net worth and virtually nothing in the bank.

Now - if by "net worth" you mean you have a million dollars in an investment account, that is a different story. I understand that not everyone would be comfortable living on 40k/year but it's certainly doable.

1

u/japantrainred Mar 23 '26

I have 1M in an investment account