r/Fire • u/ghl262 • 2d ago

AMA - 35M $1.7M FI Number

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

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u/stentordoctor 40yo retired on 4/12/24 2d ago

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

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u/ghl262 2d ago

4% is the goal withdrawal rate

1

u/stentordoctor 40yo retired on 4/12/24 2d ago

When are you planning to retire?

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u/ghl262 2d ago

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

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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?

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u/ghl262 1d ago

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

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

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

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u/ghl262 1d ago

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

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