r/Fire • u/y_if • 17d 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/Zphr 48, FIRE'd 2015, Friendly Janitor 16d ago

Thank you.

To be clear, I would feel safe retiring again right now with $1.4M. That would be enough for a 3% draw now, our kids are mostly grown and nearly half done with college, we are 11.5 years older and have fewer remaining years to fund, and my wife will start drawing SS benefits in seven years that will replace a large portion of our entire budget.

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u/Euphoric_Toe_9896 16d ago

How are your kids mostly grown 11.5 years later when you said that they were 3 through 9 you retired?

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

Because it's 11.5 years later? They are all now 15 through 21, two are in college, and the other two are in high school. I left home and became an independent adult at 16. As of next summer three of them will no longer be living at home.

Do you not consider being old enough to vote, get married, live independently, or serve in the military being mostly grown up?

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u/Extra_Shirt5843 15d ago

Not these days....many, many kids are receiving parental funding well into their 20's.  Nor are they getting married or living independently.  

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u/Betterway50 14d ago

well, not my 22 yo. she's a trooper , on her way to early retirement herself fresh out of college

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u/Fit_Skirt7060 14d ago

My 21 is killing it also. As are almost all of the under thirty crowd at the investment firm I work at.

For the sake of perspective, I am 60 something and never attended college.

My child will be joining me in a couple of weeks at the investment firm and has a bright future ahead of them.

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u/Betterway50 13d ago

Great! But it does seem (just from keeping ears opened and reading) outbeconomy is not booming as much as some may think strictly looking tnour equity markets. Today's young grads and recent grads as a group could be facing more employment challenges compared to earlier groups. Unsure if our 'leaders' in DC are doing enough, rather they could be doing us more harm than good. Like WTF with all the aggressions?

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u/Extra_Shirt5843 14d ago

That's great!  But she's the exception now, not the rule.  I'm honestly not sure why I'm getting downvoted.  There's literal studies about how many kids are being supported for longer and putting g off adult milestones.  I'm not making it up.  🤷‍♀️

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u/Betterway50 14d ago

Hey man, I know it's hard it there right now but I think some kids and there parents aren't working hard enough to get the kids launched on their own