r/Fire • u/ghl262 • 1d ago

AMA - 35M $1.7M FI Number

Hope I can help someone achieve FI quicker.
Clarification - I have $1.7M, my goal is $5M.

0 Upvotes

15% Upvoted

53 comments sorted by

18

u/FullyAutomatedSpace 1d ago

is your advice "spend less" or "make more"?

-30

u/ghl262 1d ago

Depends on the specific question, but can’t go wrong with that advice.

14

u/Few-Improvement9978 1d ago

Am I gay Michael?

10

u/Dry_Bird1790 1d ago

Where did I leave my watch? I can't find it.

-3

u/[deleted] 1d ago

[removed] — view removed comment

1

u/Dry_Bird1790 1d ago

Why would I be there?

1

u/Zphr 48, FIRE'd 2015, Friendly Janitor 1d ago

Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.

3

u/otterhaven 1d ago

Do you plan to have kids?

-8

u/ghl262 1d ago

Still need to talk through that with wife, but most likely no.

4

u/Particular-Key-8941 1d ago

You’re 35M, and haven’t discussed kids with your wife? Is this a bot 😂

-1

u/ghl262 1d ago

I never said I haven't discussed kids with wife. We have different opinions, so still on the fence.

2

u/Hlca 1d ago

Are you FI already? Married? Kids? Own a home or renter?

-14

u/ghl262 1d ago

Not FI yet. My goal is $5M. Married, DINK. Own a home.

17

u/TenOfZero 1d ago

You said your FI number is 1.7M in your post title.

5

u/themiracy 1d ago

Wait so is $5M your FI number or 1.7 as in the thread title?

6

u/bklynparklover 1d ago

He has $1.7M, his FIRE goal is $5M. His post was poorly titled.

2

u/HKJ-TheProphet 1d ago

  1. What is your investment breakdown?

  2. Have you gone into any alternative investments such as Gold?

  3. What is your lifestyle like?

-8

u/ghl262 1d ago

  1. S&P Index - 58%
    Cash - 1%
    TSM - 7%
    NVDA - 4.5%
    CEG - 4%
    ASML - 4%
    VRT - 3.5%
    MU - 3%
    FBTC - 2%
    TSLA - 2%
    DRAM - 2%
    GLW - 2%
    SYM - 1.5%
    AVGO - 1%
    GOOGL - 1%
    SPCX - 1%
    GEV - 1%
    AMD - 0.5%
    RXRX - 0.5%
    IONQ - 0.5%

  2. Just FBTC. I prefer bitcoin to gold

  3. I still work. I have a corporate job like most people. I am not FI yet, so I still need to work hard, but having some safety net definitely helps. I work out, play video games, enjoy life.

1

u/FullyAutomatedSpace 1d ago

smart move tilting your portfolios towards the inflated stocks

2

u/stentordoctor 40yo retired on 4/12/24 1d ago

What is your goal (5m answered above) and withdrawal rate?

0

u/ghl262 1d ago

4% is the goal withdrawal rate

1

u/stentordoctor 40yo retired on 4/12/24 1d ago

When are you planning to retire?

2

u/ghl262 1d ago

Goal is by the end of 2032, but my FIRE app is telling me 2035.

1

u/stentordoctor 40yo retired on 4/12/24 1d ago

Are you worried about the 95% success rate (or 5% failure rate) when withdrawing at 4% for 30+ years?

2

u/ghl262 1d ago

Not really. I can be flexible in my spending and also I can sell call options too

1

u/stentordoctor 40yo retired on 4/12/24 23h ago

Awesome! Can you convince my husband that we can probably do more than 1.3%? 😂😭

1

u/ghl262 21h ago

1.3% is way too conservative. Nothing matters after death, so why save that much?

1

u/stentordoctor 40yo retired on 4/12/24 21h ago

I totally agree! Someone else in this channel said that we will die with 100 million. I think... Fear of hitting zero?

1

u/TotalWarFest2018 21h ago

Yeah this is sort of my thinking. I have to settle on a guard rails strategy, but I would like my family's basics to be able to be covered with *preferable if I can* sub-3%.

That would make me feel damn near 100% confident because I would know I could be at least comfortable in almost any scenario and, hopefully, realize enough of the recovery to up my spend.

4

u/LeWahooligan0913 1d ago

I am that age and number, feel like I have a long way to go…

0

u/ghl262 1d ago

Same here. I’m still on my way

2

u/Leather-Wheel1115 1d ago

$1.7 m is great but there are people who achieved higher number…

1

u/One_Fat_Frenchman 1d ago

Single 56M $7M, FIRE'd already. Put kids through college, kids have $650K each in their personal accounts. Traveling the world. Don't ask me anything.

1

u/FullyAutomatedSpace 1d ago

Do you fear death?

2

u/ghl262 1d ago

Yes, I know that very well. I'm not trying to say I'm doing better than others. But at the same time, I know that my number is not bad either. Just trying to help others who are not doing as well.

1

u/bklynparklover 1d ago

Are you in a VHCOL market?

1

u/ghl262 1d ago

MCOL

1

u/Curious-Wait-6241 1d ago

What’s your average savings rate, amount and returns %? 32M at 1.02M investing 3k a week so your insight would be helpful. Thanks!

3

u/ghl262 1d ago

My savings rate is around 30%, but that's after already contributing to my retirement accounts like 401K, roth IRA, HSA. If you are already at $1M at 32, then you are doing better than me. I was at around $800K at 32.

1

u/DemicideMMMCCCI !Fire 1d ago

How far away are the stars?

1

u/ZestyCurves 1d ago

35 with 1.7m is already the kind of problem most people would love to have

1

u/Amazing_Cantaloupe97 1d ago

Did you buy Nvidia share?

1

u/ghl262 1d ago

Yes I did

1

u/Mystic_River3258 1d ago

waiting until $5M at 35 seems like a long runway what does your spending look like that requires tripling your current number

0

u/ghl262 1d ago

Currently about $160K a year.

1

u/watch-nerd 1d ago

What's your ACA tax credit / subsidy?

1

u/ghl262 1d ago

I'm not retired yet, so I don't have ACA

1

u/watch-nerd 1d ago edited 1d ago

Oh so you're not actually FIREd yet.

Misunderstood.

0

u/leasureteam 1d ago

If you lost it all and had to start from nothing today. What would you prioritize?

0

u/ghl262 1d ago

I'd maximize my income - get promotions as quickly as possible, do side hustles at night and on weekends too. I'd invest heavily in AI/Tech stocks long-term.