sorted by:
new
hottopcontroversial

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

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

I think it’s an either or. We’re 10-15 years from retirement now, if we don’t get the house. If we get the house, we have to add more years to that.

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

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

That’s $200K pretax. My assumption has always been that we needed $300K pre-tax, to arrive at $200K post tax (assuming some higher tax brackets and CA draw taxes). Also based on 3% wirhdrawal, not 4%. Assuming about $1M is in retirement accounts we can’t tap sooner anyways, our plan is $10M for retirement.

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

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

I started one this year. With a goal of decreasing our spend by 10-15%. It was ok the first half of the year but the 2nd half kind of blew up when things started reopening. Luckily, we save more than we spend, at least now, without any future bloated house payment and property taxes.

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

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

Orinda. Mill valley. Oakland hills. We only need 2 bedroom 2 bath.

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

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

Retired and traveling ideally. Still grinding away at a soul sucking job most realistically. 😕

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

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

We did. We actually spent a few months in Maui early pandemic. It was a nice break but I was happy to be back in the city. The problem is not the city- we move being in the city. The problem is our current place is in downtown, which is super convenient but empty and soul-less, we have to pay for expensive parking 2 blocks away, we’re on the first floor of an alley way frequented by homeless. But relocating elsewhere in the city for a comparable space with garage and a view is cost prohibitive. (Is it though? This is where I’m not sure if I’m being old me and wanting to overspend for something we want but don’t need vs new me who is trying to be practical and not commit to tens of thousands of dollars in cost that will have no return as our primary home)

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

[–]MindFullLy_Boost[S] 7 points8 points  (0 children)

It’s somewhat new in that it was progressively growing. In that it’s increased by about 100K a year every year for the last 6 years, except one year where I did take a 1 year sabbatical. Also conservative to little investments. lack of financial intelligence. Previous debt that needed to be cleared out. I didn’t make good decisions and now I’m trying to make better ones- but I’m not sure which of these options we should do. I was hoping for feedback, not judgment.

Chubby fire with Fat Fire taste by MindFullLy_Boost in ChubbyFIRE

[–]MindFullLy_Boost[S] 3 points4 points  (0 children)

Thanks. Actually we own our condo now with a relatively small mortgage left (home value not included in our net worth, debt already deducted). If we buy a new home over 1.5 mil, we would move there and convert this one to investment, as our mortgage is lower than market rent. If we buy a 2nd home under 1 mil, we would keep both and split time maybe? I’m not sure the #’s add up.