FIRE FAQ

I started at age 41 in 2015. I had $0 in liquid savings outside my 401(k) and was buried in debt from cars, vacations and bad decisions.

Around $2 million. $3 Million total between myself and my wife. That includes 401(k), home equity, and $350K liquid Freedom Fund.

Always evolving. Even now as work part time and I draw down from my freedom fund. I would say was the number $3 million is my bare minimum for full FIRE. That lets me pull 4% ($120,000/year) to cover family expenses without touching principal.

Yes. I dropped from 15% to 1% so I could build a liquid Freedom Fund faster. It was the key to quitting full-time in 2024. At 1% I would still get the company match which was 50% of the first $1,000 I contribute, or $5oo a year. Plus a percentage of my salary that increased with years of service. I worked for the same company for 30 years so as this grew I began to notice, my contributions don’t really impact the total that much and definitely not the future total. Also, I can ttouch this money without penealty. So what I did was lower my contribution to 1% and contributed the other 14% to my “Freedom Fund” a liquid after tax account that was all mine whenever I needed it.

$30K from draw on $350K Freedom Fund + $50K from part-time hourly work ~$80K total. I also save $30k in child care costs, gas and tolls. Same lifestyle. In fact better lufestyle because the wear and tear on my body is now nearly completely eliminated.

Yes, but I use 3.7% as a guardrail. I keep a 60/40 stock-bond mix and rebalance every year.

Oh this is fun! something I discovered in late 2024 while I was recovering from elbow and shoulder surgeries. Selling cash-secured puts and covered calls on ETFs I own. I collect premiums on every transaction and so far I have done quite well. Only with money I can afford to lose.

I still have healthcare coverage with my part time job. Also, my wife has healthcare at her job and the kids are covered with hers (its just simpler) The alternative backup plan would be the ACA marketplace plan with subsidy + HSA. Family of 5 pays about $450/month. I max the HSA at $8,300/year for tax-free medical.

Yes. My 3 kids were born 2016-2019. We cut daycare costs dramatically when i dropped down to part time work. Kids don’t kill FIRE; lifestyle creep does.

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I wanted to share my mistakes so others could skip them. Schools never taught money, and I learned the hard way.

$350K in low-cost index ETFs (Bogleheads style). Mostly total market and S&P 500 funds.

No. I have approximately $300 – $400 /month in dividends, but most income is from part-time work and withdrawals.

Yes, and I lost money. I stopped speculating in 2020 and switched to index funds. Lesson learned.

My wife and I spend about $150,000 for a family of 5. Includes mortgage, utilities, insurance, Taxes, food, travel, and kids’ activities.

In 2017 I cleared the last $20K car loan. That freed up $400/month for investing. I held on to about $15k on 0% credit card debt that we transferred year after year This was just cleaned up fully in 2024. My only debt right now is my mortgage which I refuse to pay off at 2.5% interest when I can earn triple that in ETFs.

I realized I’d be working until the people that make the 401k rules tell me I can quit. 59 1/2 if I was lucky. 62-65 if not. Debt was $50K+, net worth outside 401(k) was negative.

$100K. That’s when I launched the blog to hold myself accountable.

Not taking personal responsibility for my own finances. I was lucky in that my employer enrolled me in my 401k with increasing annual contributions.

No. I contribute just enough for the match (1%). The rest goes to taxable accounts for flexibility.

I work for the same company just with less responsibility, less stress and less hours. I work 20-25 hours a week while my kids are in school. No more weekends, no more holidays, no more waking up at 2 am and getting home at 6pm.

I automate and pay myself first. Then the bills, then what is left over is used for fun. Its also easier to have fun money when you already feel secure in your savings. I stopped stressing where every penny is going because I know I already have enough for the future and if that ever changes, I know exactly how to fix it cause I’ve done it before.

Your Money or Your Life, The Millionaire Next Door, and The Simple Path to Wealth.

This is always evolving but a good estimate is 70% stocks (VTI, VXUS), 20% bonds (BND), 10% cash for wheel strategy.

Alot of it comes from my 401k. I cash out the dividends and use them Also in my freedom funds I have rotated through stocks like Verizon (VS), AT&T (T), and reinvest them until you need to start using them.

Yes. You need $1.25M (25x rule). Start small, cut expenses, and let compound interest work.

I have 2 years of cash + part-time income. I’d pause withdrawals and live off work. Never underestimate the importance of an emergency fund.

Not so much anymore. When I was poor the budget sorta wrote itself. Every penny went to necessity Now that I have abundance I am more comfortable just spending and not worrying about it.

Cutting housing costs. We refinanced to 2.75% in 2021 and I do repairs and maintenance myself whenever possible.

Yes, full-time. Dual income let us save 50%+ of take-home from 2016-2022.

They are still young and its early on but I give an allowance tied to chores and they also have their birthday money. I also run a custodial account for each of them.

6 months of expenses in a high-yield savings account (currently 4.5% APY).

Yes. One big family trip per year ($7K budget). Also a few smaller trips we can take in the car. Wifey always finds the good deals. Cruises are incredibly affordable most of the time.

About $400K. We bought in 2015 for $300K, now worth $700K.

Just the policy my work gives me which is enough to cover funeral expenses.

Saying no to extra hours. I get asked constantly but I guard my time like gold.

Not one bit. I miss the paycheck sometimes, but not the stress or commute.

Save 20% automatically, invest in VTSAX, and don’t buy new cars.

Build the Freedom Fund quietly. Mine took 9 years. Start today.

What the hell is that? No. I self-manage with Vanguard and E*TRADE. Fees are under 0.05%.

Walking away in 2024 with health, family time, and financial peace.

Waiting until 41 to start. If I began at 25, I’d be fully retired by 45.

Motivation is fleeting. Discipline lasts forever.

No. I’m not a CFP. This is my story. Do your own research.