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Check out the subreddits r/leanfire, r/fire and r/fatfire. FIRE = Financial Independence, Retire Early. Moving to a low cost of living (LCoL acronym on those fo
by voisin 6y ago
Check out the subreddits r/leanfire, r/fire and r/fatfire. FIRE = Financial Independence, Retire Early. Moving to a low cost of living (LCoL acronym on those forums) will be important given the amount you have saved and what I presume is a fairly lengthy retirement (I assume you aren’t in your 70s!).
I think the conclusion you will come to is that it would be good to move to a LCoL location, keep your job or somehow stay in the industry but in a more flexible manner where you work far less and make a bit of living money so you don’t eat into your nest egg very much.
Also, word to the wise: inflation is unpredictable and current government estimates are likely massively underestimated for things that actually matter to you - healthcare, housing, etc. So be careful with the standard 4% withdrawal, equity market returns, and inflation expectations. Garbage in, garbage out!
- fiftyacorn 6y agoI find fatFire an amazing sub to read - its like a parallel universe of people in their 30-40's with 8-figures in the bank or investments