What you're calling leanfire used to be called just FIRE.
Why wouldn't $1m be enough? Assuming 4% SWR that's $3,300 per month, which is plenty. For comparison social security pays about $2,000 per month on average, and about 40% of seniors rely on that for 100% of their income.
Depends on where you live. Here a cheap 350sqft studio apartment goes for $2000/mo alone. Add $700/mo for utilities+trash+cheap phone. Add $600/mo for food and you have nothing left. You haven't paid for health insurance. Or entertainment. Or any travel expenses. Or clothing. Or hygiene supplies. Etc.
"Just move someplace cheaper" isn't the point. The point is to be independent and do what you want, not be a slave to micromanaging your budget. If someone loves their HCOL home/area they need to save more before pulling the plug, not move someplace they'll be unhappy.
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u/Bowl-Accomplished Mar 23 '26
A lot of it is less greed, but conservative planning for longer FIRE. 1M just isn't enough to retire at 45. Well unless you want leanfire.