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I think the assumption is that you need a high salary to do FIRE generally.
by reedf1 3y ago
I think the assumption is that you need a high salary to do FIRE generally.
- beezlebroxxxxxx 3y agoIt's definitely dependent on COL in area where you choose to retire, and what your expected spending is in retirement. Whether you decide to have children also has a pretty big impact. DINKs with a relatively modest income can still FIRE with substantial nest-eggs if their saving % is aggressive. There's also been a cultural shift around FIRE in the last 10 or so years. The original mindset was focused on pretty extreme thriftiness and a general DIY approach to lowering annual expenses to maximize saving rate. Nowadays, the focus is much more on getting the biggest number possible, and maintaining a fairly affluent and luxurious (by early FIRE standards) lifestyle into retirement. To some extent that shift was fed by the money-printer near zero bound interest rate boom years of '08 to '19, so it will be interesting to see whether it maintains that trajectory.