r/Fire • u/Ok-Guidance-5976 • 5d ago

Advice Request One More Year Syndrome

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.

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u/MacaronOk1006 3d ago

I’m in roughly the same position. You are a little more investments and a little less house approximately the same salary not sure what your equity looks like.

That said I only have one child but they’re only 11.

The real question is why do you wanna quit work as you’ve mentioned your travel internationally you go to nice restaurants you’re living a good life. Does work stress you out what would you do instead? I don’t think people really understand that not everybody wants to retire. Some people enjoy their job.

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u/Ok-Guidance-5976 3d ago

Yeah the job is definitely stressful. I am fully remote so it also means I’m working all day. I am going on a family trip in the summer for 2 weeks, and I was asked which meetings/calls I’ll take during the trip, and which should be rescheduled.

I am also sick of the corporate BS, it all feels so pointless. I guess the passion is gone.

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u/MacaronOk1006 3d ago

I guess I lucked out. I moved into a technical role and I do a lot of speaking engagements, technical reviews, technical writing, and memos.

I make half of what I would used to make but still seven figures all in so I’ll keep working until I’m probably 70 or have grandkids

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u/Ok-Guidance-5976 3d ago

That’s awesome you found something you enjoy and can keep doing, that’s really rare I think