Let's talk about your FI # and family income [Financial Independence]

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
jsh84
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by jsh84 » Wed Sep 20, 2017 7:09 am

Coachrhino11 wrote:
Tue Sep 19, 2017 9:27 pm
flyingaway wrote:
Tue Sep 19, 2017 2:40 pm
I am impressed by the house incomes ($200K ~ $400K) posted here. Where are the average Joes?
Yeah, this thread is depressing to me quite frankly, lol. My wife and I gross around 125-130k which I thought wasn't too bad until reading this, good gosh. I will have a pension if I choose to stay in game. I'm 39 and wife is 41. Any tips on ways to move up income ladder without being doctor, lawyer, engineer? If we could get to 150-160k sooner than later it would be game changer for us.
I make less than 6 figures myself, in fact not even close. There have been plenty of years where my wife and I grossed together only very low 6 figures or not even. You aren't alone, it just isn't as fun to post numbers that are average I guess.

ttjt_99
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by ttjt_99 » Wed Sep 20, 2017 9:05 am

I'll probably make everyone here feel better about what they're making. Life's not all about money, it helps, but the simple things in life are what add up.

My story: I'm 42, married with a teenager. We're a single income home. I work in a state job and it pays as such. It's taken me quite a while to even work up to my current salary, but right now I earn $62k. I have really good medical, have a pension system I'm paying in to which currently estimates me being able to retire with my full pension at at 57 with a payout currently of around $2600 a month. That's not very much, but I do also have a 403b and some other random investments that currently total a little over $62k currently which I hear may actually be well above the national average of what people have in savings so I don't feel so bad. So with that on top of social security eventually I feel like we'll be doing ok come retirement. My family and I live in a modest 2 bedroom condo in a nice college town. We share one car currently, and my daily commuter is a motorcycle (I convinced my wife to let me get one since it was cheaper than a 2nd car payment :P ).

We live below our means to try to make up years of lost ground due to some medical issues, but I feel like we live comfortably. Whenever I watch the news and see war torn countries, I stop complaining about my own situation.

Simple Simon
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Simple Simon » Wed Sep 20, 2017 9:08 am

Coachrhino11 wrote:
Wed Sep 20, 2017 5:05 am
Simple Simon wrote:
Tue Sep 19, 2017 9:45 pm
coach - "where there is muck there is brass" - work which is unpopular, unpleasant or dangerous often pays well
So I'm guessing you think being an inner city school teacher is pleasant, right? Lol. I agree with you, most of the time, but when I start really thinking about it I can think of many careers that are those three and pay low. In all honesty, I'm grateful for my career and the annual income my wife and I earn combined. I grew up pretty poor, both parents working multiple jobs with no college educations. Wife grew up in Brady bunch family compared to me, lol. Her mother was stay at home mom with three children.

To be fair, I personally know many people in same city I live making six figure incomes with jobs that aren't unpopular, unpleasant, and certainly not dangerous.
Coach - those are fair and good points.

Wealthiest person I know deals in scrap metal (he has his own helicopter).
Second wealthiest person I know is marketing director for a European conglomerate.

In each case, there is muck of sorts.

True, I do not know any billionaire hedge fund managers, so maybe there is some sort of muckless nirvana out there. If you find it will you please PM me

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snackdog
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by snackdog » Wed Sep 20, 2017 9:24 am

Interesting ideas here.
Last edited by snackdog on Sun Oct 01, 2017 4:47 am, edited 1 time in total.

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Admiral
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Admiral » Wed Sep 20, 2017 9:31 am

OP here.

It's interesting to see the various tangents this thread has taken. Just to harp yet again on why I posted HH income and target FI # rather than expenses:

This forum is self selecting: you are here because you have an interest in finance and investing, and also an interest in keeping your expenses (be that ER or anything else) manageable. If you didn't, you'd be on hedgefund.com or some shady real estate investment site.

With the possible exception of very high earners who both save AND spend a ton, most people on this forum aim to live below their means...because that's the key to building wealth. And why else would you be here, where people agonize over spending an extra buck a week. :wink: I did not post "tell us your target FI # and your expenses" because the assumption is expenses are already manageable, and will continue to be after reaching FI.

The idea was simply to allow others to benchmark where they are versus their income peers (and yes, Klang, before you object, I realize that ultimately it's not about keeping up with the Joneses. But that doesn't mean there is no value in benchmarking, because it can be a motivational tool.)

There are lots of variables that the original post did not include, including current age and current savings, and expected income once you achieve FI. So, answers should be taken with a grain of sodium.

Coachrhino11
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Coachrhino11 » Wed Sep 20, 2017 9:27 pm

CyclingDuo wrote:
Wed Sep 20, 2017 6:22 am
Coachrhino11 wrote:
Tue Sep 19, 2017 9:27 pm
Yeah, this thread is depressing to me quite frankly, lol. My wife and I gross around 125-130k which I thought wasn't too bad until reading this, good gosh. I will have a pension if I choose to stay in game. I'm 39 and wife is 41. Any tips on ways to move up income ladder without being doctor, lawyer, engineer? If we could get to 150-160k sooner than later it would be game changer for us.
Your income is indeed excellent! You are in the top 15% of US household incomes at your level. It's pointless to compare your household income with the top 1-2% to 5% ($200 - 450K). What about the 85% of households that make less than you and your wife gross?

http://money.cnn.com/calculator/pf/inco ... index.html

We are right there with you and couldn't be happier with life. Especially since we get Summers off which means we have been practicing retirement for 3 months on an annual basis for decades. :mrgreen:
Lol, thank you and funny you say that regarding summers off because I call it my annual mini retirement. Thanks for inspiring feedback.

latesaver
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by latesaver » Thu Sep 21, 2017 12:11 pm

Over the last 3 years, HH income was $600-700K.
i am 37, wife is 34, son is 2 months old.
HCOL, trying to keep expenses under $80K. have recently embraced some frugality measures so i expect to lower this #, barring child care costs of which i am unaware
I consider $3M to be a pretty bulletproof FI number but golden handcuffs may keep me working a few years beyond that.

our expenses DEFINITELY went up with income but they were self inflicted, discretionary, mostly stupid choices. i have altered our course.

Bacchus01
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Bacchus01 » Thu Sep 21, 2017 1:32 pm

I like this format someone else posted:

Current Situation
married, 3 kids, 20 year career, now exec mgmnt
annual W2 income - six figures
annual expenses - 28% of income
net worth including property - 5.5x annual income.10x annual expenses.

Our target FI number is $10M. Yeah, I know, that's high, but that's the target.

The likely number that would could probably walk away on, $3.5M, which we expect to be at by end of 2019. Targeting retirement in 2020 at 47. We'll see if I actually do it.

The two biggest issues: college education for our three kids and health care.

Catfish Plumber
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Catfish Plumber » Fri Sep 22, 2017 3:28 pm

Household income: ~110k
Target FI #: 500-600k

slowbutsteady
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Re: Let's talk about your FI # and family income

Post by slowbutsteady » Fri Sep 22, 2017 5:29 pm

am wrote:
Sun Sep 17, 2017 3:12 pm
IMADreamer wrote:
Sun Sep 17, 2017 2:21 pm
This threads crack me up. You guys with deep six figure incomes and you are trying to figure out retirement and such. This forum is infuriating sometimes. If I made mid six figures I'd be retired in three years and on a hillside somewhere over looking nature enjoying the hell out of life. As a small business owner I'm just trying to figure out how the hell to retire at all in 20 years and I'm a good saver, I just don't make much.
Mid six figures after taxes, insurance, retirement accounts, mortgage in a metro suburban area with kids leaves you with barely enough to retire by 50s assuming you live fairly modestly compared to similar neighbors and adhering to boglehead principles. Many Americans will never be able to retire comfortably judging by the state of retirement savings in this country and debt levels.
Resonates with us.
HH W2 income: 500k+
FI target: paid off house + 4.5M (but plan to pad for contingencies)
Certainly not happening before age 50.

While I agree expenses trump income for FI determination, these self selected responses suggest there may be something to say about income. Eyeballing the responses do show most FI numbers fall around 9-11x stated income. Could current income indeed be influencing percieved FI # subjectively?
The tortoise wins every time I read that story.

fingineer
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by fingineer » Fri Sep 22, 2017 6:12 pm

HH W2: 600k
Targeting expenses of 130k/year in retirement in a LCOL area
Targeting retirement ... next month! Net worth is 4.9M. Planning to buy a house in cash, and then live on 4.5M invested.
We are only 40, with a 5 year old, so we're using a low withdrawal rate of around 3%

We've seen our income rise a lot over the last 10 years, and we've been investing heavily through this record bull market. Plus we bought a house in the SF Bay Area just during the early days of the great recession. We lost some home value in 2008, but are up almost 1M at this point. Got the house under contract to sell. We'll take that cash to a LCOL area and live well.

Slacker
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Slacker » Fri Sep 22, 2017 6:44 pm

Coachrhino11 wrote:
Tue Sep 19, 2017 9:27 pm
flyingaway wrote:
Tue Sep 19, 2017 2:40 pm
I am impressed by the house incomes ($200K ~ $400K) posted here. Where are the average Joes?
Yeah, this thread is depressing to me quite frankly, lol. My wife and I gross around 125-130k which I thought wasn't too bad until reading this, good gosh. I will have a pension if I choose to stay in game. I'm 39 and wife is 41. Any tips on ways to move up income ladder without being doctor, lawyer, engineer? If we could get to 150-160k sooner than later it would be game changer for us.
Age 18-19: $15K / year (construction and forklift driver)
Age 20-24 (military): $9K to $15k/yr (E-1 through E-5)
Age 25-29 (college): variously $5K to $14k/yr supplemented by GI Bill paying towards college
Age 29-36 (first Engineering roles): $40k to $55k/yr
Age 36-41 (current): $68k/yr to $110k+

Wife's income trajectory is similar. So we've only been over $200k as a household for 3 years now.

We are both Engineers (in different fields). My wife's first Engineering job started around when I was 36 and before that her highest earning year resulted in about $31,000. Her last 5 years of salary have been very similar to mine.

We do *expect* to be breaking $250k next year without very much overtime (and excluding the rental property). So while we have great incomes now, we were very solidly middle class for a long time and at some times in the poorest levels of society (as an enlisted person in the military and as a college student).

TheHouse7
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Re: Let's talk about your FI # and family income

Post by TheHouse7 » Fri Sep 22, 2017 7:10 pm

Hyperborea wrote:
Sun Sep 17, 2017 9:22 pm

We had a discussion along these lines on an early retirement board maybe 15 years ago and one of the insights into this was that many of those who can retire early are those who are first generation professionals. They grew up in a working class / blue collar household and don't have expensive tastes but enter a professional career where they make a lot of money. Those two factors let them save a lot and give them the ability to retire early. It was suggested that because of that working class background they may have impostor syndrome and not feel at home in such an environment and that may be a factor that leads them to want to retire early. Interesting idea but there was no data just anecdotes.
Crazy insight, I don't feel at home (first house was way nicer than what I grew up in), and value the sacrifice my parents/grandparents made so much so that I will FIRE because of LCOL.
"PSX will always go up 20%, why invest in anything else?!" -Father-in-law early retired.

TheHouse7
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by TheHouse7 » Fri Sep 22, 2017 7:14 pm

Household income:80k
FI# 1.1m
"PSX will always go up 20%, why invest in anything else?!" -Father-in-law early retired.

travellight
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Re: Let's talk about your FI # and family income

Post by travellight » Sun Sep 24, 2017 4:32 pm

WanderingDoc wrote:
Sat Sep 16, 2017 2:15 pm
livesoft wrote:
Sat Sep 16, 2017 12:47 pm
It was shown in another thread that folks who keep saving to reach $5MM may end up with less to spend and less time to spend it than folks who stopped saving earlier and started spending / traveling. I did start traveling a lot more with less saved, so I think it works.
An even better idea is to travel extensively in your 20s and 30s. Where on average, we are healthier, more mobile, more social (less jaded by people and their stupidity), and often more naive and inquisitive (makes travel more fun), often seeking more raw and off the beaten path experiences. Older folks tend to be more risk averse which often leads to less rich and less spontaneous experiences. Could you do all the same type traveling as you are older? Possible but exponentially less likely the older we get. IMO.
+1. I can offer myself as a case in point. Not liking the high cost of lodging in Italy during my solo trip around the world, I approached two guys who were also looking for lodging and asked if they would like to share a triple... a rare event for a solo female. They agreed and were my chaperones for the evening. I was just doing the math; divide by 3. It was a memorable experience.

So, this kind of frugality even pre- BH has led me to my current high income and my FI number is 10 million (including pension and SS). Why?... it's just a goal (I had passed the previous goals) and I have a kid to put through expensive college for a few more years. Also, my FI number is vaguely targeted to allow for only flying first class for a fair amount of travel once I am retired. I am less focused on the minimum amount needed to retire and more on what it would take to support the lifestyle I want in retirement.
364

travellight
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Re: Let's talk about your FI # and family income

Post by travellight » Sun Sep 24, 2017 4:39 pm

market timer wrote:
Sun Sep 17, 2017 7:33 pm
HH income: $400K
Annual expenses: $100K
FI number: $2mn

Our expenses could easily be cut in half. Rather than aiming for retirement, I'm aiming for a good work/life balance, which I think I have right now.
:beer :thumbsup
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zoneinfo
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by zoneinfo » Tue Oct 24, 2017 6:43 pm

Bacchus01 wrote:
Thu Sep 21, 2017 1:32 pm
Current Situation
married, 3 kids, 20 year career, now exec mgmnt
annual W2 income - six figures
annual expenses - 28% of income
net worth including property - 5.5x annual income.10x annual expenses.

Our target FI number is $10M. Yeah, I know, that's high, but that's the target.

The likely number that would could probably walk away on, $3.5M, which we expect to be at by end of 2019. Targeting retirement in 2020 at 47. We'll see if I actually do it.

The two biggest issues: college education for our three kids and health care.
If I'm reading this correctly, you'll have a NW of $3.5M in 2019 and plan to retire in 2020 - but your FI number is $10.0M.

Do you have a large vesting or some other compensation event happening in 2020 to compensate for the $6.5M gap (the 3.5 vs 10m target)?

Bacchus01
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Bacchus01 » Tue Oct 24, 2017 9:13 pm

zoneinfo wrote:
Tue Oct 24, 2017 6:43 pm
Bacchus01 wrote:
Thu Sep 21, 2017 1:32 pm
Current Situation
married, 3 kids, 20 year career, now exec mgmnt
annual W2 income - six figures
annual expenses - 28% of income
net worth including property - 5.5x annual income.10x annual expenses.

Our target FI number is $10M. Yeah, I know, that's high, but that's the target.

The likely number that would could probably walk away on, $3.5M, which we expect to be at by end of 2019. Targeting retirement in 2020 at 47. We'll see if I actually do it.

The two biggest issues: college education for our three kids and health care.
If I'm reading this correctly, you'll have a NW of $3.5M in 2019 and plan to retire in 2020 - but your FI number is $10.0M.

Do you have a large vesting or some other compensation event happening in 2020 to compensate for the $6.5M gap (the 3.5 vs 10m target)?
Nah, it was more of wishful thinking. I'd be willing to go earlier. Not expecting to make a jump from 3.5 to 10 in one year. More likely closer to $4M+ and just pull the plug despite not getting to $10M.

Dottie57
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Re: Let's talk about your FI # and family income

Post by Dottie57 » Tue Oct 24, 2017 10:24 pm

blevine wrote:
Fri Sep 15, 2017 12:25 pm
Never understand why people even look at household income.
If I am unemployed and win the lottery, I think it does matter whether my lottery winnings are $1,000 or $10,000,000
But either way, I have won an infinite multiple of my income.

I see expenses can be correlated with income, but for those of us who believe in LBYM,
not as highly correlated as one might think.

You can increase or decrease your spending in retirement, depends on your goals and how big a pot
you win/inherit/save/steal :-)
Me either. Pre retirement income doesn't matter. Desired income in retirement matters. And the amount portfolio needs to generate is important.

darrvao777
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by darrvao777 » Tue Oct 24, 2017 10:40 pm

Household income: $1m
Target Portfolio value for FI: $10m

Nearly A Moose
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Nearly A Moose » Tue Oct 24, 2017 11:32 pm

I get that OP gets to ask the question he/she wants, but I don't household income makes sense in some scenarios. For example, my household income is:

$550k
But my FI number is somewhere between $3.5-4.5M, assuming I still have to pay off my mortgage and pay for kids' school. A lot less if those are covered.

Both of those are high, but I don't see a logical relationship between the income and the FI number. My expenses change dramatically if I were to voluntarily stop working - for example, we would't need a nanny ($$$$$$$), I would insource more, I'd be able to bargain shop more, I'd buy fewer suits, etc. And my tax situation would presumably be very different if I didn't have W-2 income. I guess I could even move to a much lower cost of living area, driving that number down further. So I don't really see what this numbers should show.
Pardon typos, I'm probably using my fat thumbs on a tiny phone.

zinders
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by zinders » Wed Oct 25, 2017 3:15 pm

I'm 48, my husband is 56. DINKs

Combined HH income: $250,000 - and climbing (as I'm still in a growing phase of my career).

We have $1.1 million already in 401(K)/IRA investments. We contribute the maximum every year.
We still have a significant amount left on our mortgage ($490,000) but no other consumer debt.

We've been using Mint and our HH expenses are about $100,000 a year. I'm amazed at how low other people on the forum go with expenses, but I'm also very aware that we live like we want to live. I don't think twice about buying things we want or need, we eat out fairly frequently and do a lot of travel. We get a lot of travel paid for through my job, and we've been taking full advantage of it. If we can see the world on someone elses' dime now when we're healthy instead of in retirement, why not?

Our target # is $3 million. Between the two of us, we'll be inheriting $1.2 million or so, so I'm confident we'll get there.

My husband *could* retire now, I guess, if we cut our spending. But I don't think he should. His job isn't that stressful - he works from home - and he's not working the crazy hours that he did up to 5 years ago. I wish that he had more time off to go on work trips with me, but he gets four weeks. To be honest, I'm not sure he wants to travel more than that (I'm on the road at least once a month). As has been noted on this thread, we don't know a lot of people our age who are retired. He has said he wouldn't really know what to do with his time if he retired at this point. I told him that once he has some ideas, then it would be worth considering.

zoneinfo
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by zoneinfo » Wed Oct 25, 2017 3:39 pm

Bacchus01 wrote:
Tue Oct 24, 2017 9:13 pm
Nah, it was more of wishful thinking. I'd be willing to go earlier. Not expecting to make a jump from 3.5 to 10 in one year. More likely closer to $4M+ and just pull the plug despite not getting to $10M.
This makes sense. On the flip side, instead of retiring early, have you considered working until ~55 to keep growing the nest egg? That would open up a lot more options around charitable giving or trust funds for future generations.

Bacchus01
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Bacchus01 » Wed Oct 25, 2017 5:44 pm

zoneinfo wrote:
Wed Oct 25, 2017 3:39 pm
Bacchus01 wrote:
Tue Oct 24, 2017 9:13 pm
Nah, it was more of wishful thinking. I'd be willing to go earlier. Not expecting to make a jump from 3.5 to 10 in one year. More likely closer to $4M+ and just pull the plug despite not getting to $10M.
This makes sense. On the flip side, instead of retiring early, have you considered working until ~55 to keep growing the nest egg? That would open up a lot more options around charitable giving or trust funds for future generations.
Neither of those things are important to me

Traveler
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Traveler » Wed Oct 25, 2017 6:40 pm

Income: 160K
FI: right now (age 45), $2.5M
estimated retirement (age 55), $2M
I'm not to either number yet and healthcare expenses until medicare are the biggest unknown

Bigbonds
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Bigbonds » Wed Oct 25, 2017 7:23 pm

DINKS

Income: 200k
FI# 1.25m with paid off house
Target retirement age: 41 38

hmw
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by hmw » Wed Oct 25, 2017 9:57 pm

HH income: high six figures
FI: 5 million with a paid off house. We will get there in our late 40's.
Plan to retire at age 55 so our net worth at retirement will likely surpass the 5 million mark.

chipperd
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by chipperd » Thu Oct 26, 2017 3:30 am

HH income: about $150/yr (his income: $80k/yr, her income $25k/yr, her pension $46k/yr)
FI: $750k + pension w/cola (includes health ins)
Ages 50 and 47
With three kids in high school, shooting for 58 as F.I. age

Random Poster
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by Random Poster » Thu Oct 26, 2017 8:14 am

I'm seeing a lot of FI numbers in the $2.5 to $3 million range.

I wonder how many people will increase that number once they hit their goal---whether because they now are concerned that their original number isn't truly enough for financial independence, or because they want a bit of a safety cushion, or whatever.

cbr shadow
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Re: Let's talk about your FI # and family income

Post by cbr shadow » Thu Oct 26, 2017 3:49 pm

Olemiss540 wrote:
Fri Sep 15, 2017 3:16 pm
smitcat wrote:
Fri Sep 15, 2017 1:15 pm
I have found that FI numbers have very little to do with income and everything to do about expenses.
Considering or comparing your FI goals to current income is wasteful at best and misleading at the worst.
Seems to be the most popular response at bogleheads.

OP: Hypothetical question
POSTER 2: That hypothetical question is nonsensical, you should have asked XXXX
POSTER 3: But if someone was XXX (another hypothetical situation), wouldn't they word the question as YYYY?
OP: Thanks much for humoring my original question and have a nice day!
Totally agree with this. I've found lots of threads get sorta derailed this way. Rather than having an interesting (or fun?) discussion about the OP's topic, people want to pick apart the question and say it's not scientific enough.

The Wizard
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by The Wizard » Thu Oct 26, 2017 5:04 pm

Random Poster wrote:
Thu Oct 26, 2017 8:14 am
I'm seeing a lot of FI numbers in the $2.5 to $3 million range.

I wonder how many people will increase that number once they hit their goal---whether because they now are concerned that their original number isn't truly enough for financial independence, or because they want a bit of a safety cushion, or whatever.
You need to check with The Timelord about this. He knows...
Attempted new signature...

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bligh
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by bligh » Thu Oct 26, 2017 5:27 pm

Random Poster wrote:
Thu Oct 26, 2017 8:14 am
I'm seeing a lot of FI numbers in the $2.5 to $3 million range.

I wonder how many people will increase that number once they hit their goal---whether because they now are concerned that their original number isn't truly enough for financial independence, or because they want a bit of a safety cushion, or whatever.
As someone whose own FI number falls in that range I think the reason for this has to do with expenses. Essentially there is a very comfortable life to be had in the 80K-120K / year expense range, and a very safe withdrawal rate to be had in the 3 to 4% range. Since 2-3 mil sits in the sweet spot for both those numbers (comfortable retirement and conservative withdrawal rate) you see a large number of people pick an FI number in that range.

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goodenyou
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Re: Let's talk about your FI # and family income [Financial Independence]

Post by goodenyou » Fri Oct 27, 2017 10:34 am

It would be interesting to know how many people currently live on several multiples of their pre-retirement target. Several articles have been written about needing up to 80% of pre-retirement income, but in this cohort of BH, it appears that high income people save a lot to get to FI and reduce their spending considerably. Maybe the new status symbol is early FI
Last edited by goodenyou on Fri Oct 27, 2017 10:37 am, edited 1 time in total.
"Ignorance more frequently begets confidence than does knowledge" | Do you know how to make a rain dance work? Dance until it rains.

WhiteMaxima
Posts: 2024
Joined: Thu May 19, 2016 5:04 pm

Re: Let's talk about your FI # and family income [Financial Independence]

Post by WhiteMaxima » Fri Oct 27, 2017 10:36 am

Saving/annual expense>30, you are FI. Even if you have a small saving, you can still be FI.

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