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It'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
by beezlebroxxxxxx 3y ago
It'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.