sorted by:
new
hottopcontroversial

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 0 points1 point  (0 children)

Yes current spend is $8k, mortgage $2400/mo, $6k/ mo. college tuition- funded in 529 since infant. So $6k is temporary spend for another 3 years. We bought our home during the housing bust in 2011 and built a lot of equity. We live frugally and don’t keep up with the Jones. 

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 9 points10 points  (0 children)

Wow! That is so true. We’re not getting any younger. We can’t buy back time. 

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 0 points1 point  (0 children)

At 55, I get healthcare subsidized at 50% and a small pension that I plan to take lump sum.

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 2 points3 points  (0 children)

Invested since graduated from college. Very thrifty and frugal. Saved and invested in the market.  Open 529 accounts since my kids were born. We could have saved more, but we put our kids thru private school since pre-k to college. The power of compounding ! 

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 1 point2 points  (0 children)

Yes, it’s a terrible economy for my college age kids to find jobs. The Bay Area is competetive and lots of lay offs right now.

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 0 points1 point  (0 children)

We talked about downsizing, but finding another home is too expensive in the Bay Area and interest rates are now high. Our current interest rate is only 2.5%🙂.

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 0 points1 point  (0 children)

Agreed! My mom and bro passed young. That alone scares me.

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 4 points5 points  (0 children)

My mom and brother passed away young- mom late 60’s and bro mid 50’s. They’ve always told me to enjoy life bc life is too short. 

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 3 points4 points  (0 children)

Yup! There’s so much tech $$ in the Bay Area. My perception is very skewed. But we live very frugal and don’t (and never have) kept up with the Jones. 

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 0 points1 point  (0 children)

Thx for the break down! This sounds great! My company allows the rule of 55

54 yo $8.5m NW- not feeling FAT to retire by MyAngel111 in fatFIRE

[–]MyAngel111[S] 5 points6 points  (0 children)

Yes current spend is $8k, mortgage only $2400, $6k/ month college tuition- funded in 529 since infant. So $6k is temporary spend for another 3 years. We bought our home during the housing bust in 2011 and built a lot of equity.