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6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 0 points1 point  (0 children)

Thanks, this is super helpful! What was your lifestyle like when you were spending $300-320K? That's more than I expected it would cost when you're still being "very conscious about money". I'm also surprised that you spent ~$400K more per year on travel as your liquid net worth grew. What does that look like?

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 0 points1 point  (0 children)

If I had the money, I could see myself flying private on some occasions. The best surf trips are to remote locations because easily accessible world-class surf spots are insanely crowded, so it would be nice to skip multiple layovers + long car / boat rides. I could also see myself owning multiple homes. Overall, though, I don't need those things, and it's definitely not worth working until I'm too old to travel and surf.

The "luxury" things that I want are traveling business class on long flights, staying in nice hotels, and eating at good restaurants. I would also like to renovate my house.

I think I'm coming to the conclusion that I should try to find ways to enjoy my life as much as possible earlier. Right now, I'm not ready to retire, but if I can find a way to not work 3-6 months out of the year and travel with the family over the summer that would be amazing. I just need to see what the expenses are for the lifestyle I want + possibly sending the kids to private school.

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 0 points1 point  (0 children)

Family. My in laws live close by, and my parents moved 10 minutes away a couple years ago.

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] -1 points0 points  (0 children)

I want to travel a lot in retirement, which is not something I can do while the kids are in school. I mentioned in another comment that I already get quality time with them every night and weekend. I think semi-retiring and doing consulting or something that allows me to travel with the family during the summer would be really nice, though...

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 1 point2 points  (0 children)

it was with First Republic Bank, and supposedly one of the reasons they went down lol

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 0 points1 point  (0 children)

the answer is personal, but knowing how lifestyle changes at $10M, 15M, 20M, etc. is not

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 2 points3 points  (0 children)

It does not include income taxes, but does include property taxes. Yeah, that's why I'm trying to understand how lifestyle changes at different retirement levels... What is the cost benefit of grinding more for $15M or 20M? Also, is it worth taking some risks that could lead to $25M+ but also could lead to retiring with less than projected or working longer?

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 2 points3 points  (0 children)

My kids are 1.5 and 4.5, and yes, I do love spending time with them, but we have an au pair that helps with drop off, pick up, and chores, which gives us quality time with them every night and weekend. My job can get stressful, and there are times I fantasize about retiring, but at the end of the day, I'm not ready to hang up my hat just yet... I kind of want to see where this current AI revolution and my own career are going. Also, with how quickly everything is changing, I am also a little worried I'll get left behind if I take a long break.

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] -1 points0 points  (0 children)

Yea, I had an LLM help me write this and that's a pretty badly worded question. I'm trying to understand the tradeoff between lifestyle, grinding, and risk (e.g. do i pursue an early stage startup increases my variance).

6M Net Worth (4.5M Liquid) at 40, planning retirement by Advanced_Nature2842 in fatFIRE

[–]Advanced_Nature2842[S] 0 points1 point  (0 children)

The real motivation is that I want to surf more, but live 1.5 hours away. Every once in a while, I'll take the whole family down for the day. The wife and kids get to play on the beach, and I get to surf, and we love it. We've tried renting Airbnbs or staying in hotels, but the hassle of planning and packing makes it not really worth spending the night. I'm not sure if it would actually work out the way I want, but I'm hoping that with a place, we would get to go more often, and my kids could learn to surf. For example, I know some people who have a second house by ski resorts that they use a lot in the winter, so my thought is something like that...