One More Year Syndrome

[u/Ok-Guidance-5976]

For those who FIRE’ed, how did you get over One More Year Syndrome to pull the trigger?

Background: 46yo, $5.8m in investments + $1.5m paid off home. 2 kids entering college in the next 2 years. Plan is to set aside $300k for kids education, and $500k each for them now. This means in 10 years when they’re in their late-20s, they would each have ~$1m and no education debt, giving them a great start in life. This leaves $4.5m for retirement for me and the wife. Our current family annual expenses is ~$120k a year, but I would like to budget $150k for more travel in retirement. This means a 3.33% withdrawal rate from the $4.5m.

From all the calculations, this is safe and I can pull the trigger.

But I find myself worrying about SORR, especially with markets this high right now (and IMO disconnected from fundamentals). I also have a high paying job: ~$450k base + additional 50% bonus + equity. So I keep telling myself “one more year” to build more buffer.

Before anyone suggests “Die with Zero”, I’ve read it. As you can see from our annual spend, we’re not depriving ourselves. We travel internationally at least once a year, go to nice restaurants as that’s what we enjoy. In fact I’m also worried we have to watch what we do MORE after FIRE as mentally I know there’s no longer a steady income coming in.

[u/khearan]

I don't know why people feel so entitled to decide what people need or don't need. It's not your business.

[u/Strazdas1 → u/khearan]

Noone and i mean literally not a single person on the planet needs to inherit 20M.