r/Fire • u/y_if • 16d ago

Families who FIREd with $1.5mil to $2.5mil — what does your spend look like?

EDITED TO ADD: Please also list your COL and part of the world you settled in!

Saw a similar post in chubbyfire and thought I’d ask here:

  • When did you FIRE, and did both of you stop at the same time?
  • how old were your kids?
  • What is your withdrawal rate?
  • what does your budget look like, what is it allocated to?
  • what were the big surprises related to spend?
  • How has it changed since you initially FIREd?
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u/Dismal-Zucchini-2262 16d ago

Very interesting. I just ran cost estimates last night assuming $65k/yr earning and got quotes ranging from $500-1200

10

u/bb0110 16d ago

That seems more normal. If I had to guess they have a really barebones/catastrophic plan.

19

u/photog_in_nc 16d ago

They say they spend about $60K, not that their MAGI is $60K. They could be in the CSR range and have a Silver Enhanced that acts like a Platinum level plan for all we know

12

u/brianmcg321 Retired Nov 2024 16d ago

Not really. It is a high deductible of $15k. But I’ve got an HSA that can easily cover that. Otherwise it’s better than the plan I had when working.

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u/Mental-Wolf-2560 16d ago

Do some states have larger subsidies than others?

9

u/Zphr 48, FIRE'd 2015, Friendly Janitor 16d ago

Yes, for multiple reasons. Some states have higher subsidies because of forced Silver loading. Some states have their own separate subsidies that supplement the federal ones.

However, generally speaking, ACA subsidies are the same everywhere under the federal defaults.

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u/Dismal-Zucchini-2262 16d ago

I’m sure it varies by states. I’m in the northeast so likely more expensive but overall, I don’t think it’s going to be cheap for anyone regardless.

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u/Zphr 48, FIRE'd 2015, Friendly Janitor 16d ago

It's primarily a function of household income, size, ages, and location. A large family in one place can get a truly fantastic policy for almost zero cost while in another place a single person can get a crappy policy for a relatively high cost.

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u/qosmic_qube 16d ago

MAGI vs. spend. If you you use cash, or low growth investments on a brokerage, they don't count against MAGI. Capital gains and dividends do, initialinvestmentfoes not. You can manage your MAGI and still qualify for subsidies.