Can We Retire at 55?

It looks like we can retire at 60 on $80,000 a year, so now it’s time to look at our stretch FIRE goal – can we retire at 55 on the same? To be honest, the stock standard retirement calculators did not paint a very happy picture for our retirement, except in the best case scenario of receiving at least 5.9% growth for the rest of our lives. However, the FIRE principles and calculators say differently. I’ve been around long enough now to put my faith in an alternative pathway. There are a lot of people successfully implementing various versions of FIRE, including in Australia.  Our Stretch FIRE Goal: To ... Show Me More!

Can We Retire at 60?

Last post, we defined our numerical FIRE goal. In this post I’ll explore whether it is achievable. Is it too ambitious? Or perhaps not ambitious enough? Let’s get to work! Our FIRE goal: to retire at 60 (in 2033) on $80,000 a year. To determine how much we need to generate this amount, we are using the 4% rule. This rule states we require 25 times our expenses ($2,000,000) to access an inflation-adjusted $80,000 a year for the rest of our retired life. Yes, it is simplistic. Yes, it is based on historical returns. No, it can’t predict the future or cover nuances for every person saving for FIRE. However ... Show Me More!

A Tale of Two Retirements – My Perfect Retirement

Financial Independence Retire Early (FIRE) usually has a focus on the financial aspect. After all, it’s unlikely you can retire early if you don’t have your finances under control. However, there is a subset of the movement that highlights the emotional aspect of retirement; ensuring you have a plan for your days when those days are no longer controlled by someone else. I recently came cross two examples of retirement that crystallised what I do, and don’t, want. I’m formulating my perfect retirement. The Retirement I Want To Avoid This came from a totally unexpected source. Mr. ETT and I were both browsing the web in front of the TV (yes, we ... Show Me More!

Begin to Invest 1 – What Are Our Goals?

In 2015, I happened across the Financial Independence Retire Early (FIRE) movement. I wasn’t actively looking for direction in our financial life, but I had been living with a vague discomfort that we could be doing more. FIRE galvanised me to once again take control of our money. In 2016 we tracked spending, and saved an emergency fund. The next step was beginning to invest – but how? The idea of investing was scary. There are so many options, traps and pitfalls for the unwary that I wanted to be fully prepared before we started. This series of posts is about the resources we used, and the steps we took ... Show Me More!

There’s Not Enough Time To… Retire Early

My dad turned 70 this year, and the hard fact of that number induced a sudden fearful realisation; my dad is going to die one day. Of course it is inevitable, but as humans we have the ability to ignore the obvious. We just brush it aside and carry on. This day, however, made me take a mental step back and actually look at my dad, through the eyes of someone who has just met him – and he looks old. Yes, he devotes time to maintaining his mental and physical fitness. Being long retired, Dad is under no obligation to get out of bed by a certain time each day, ... Show Me More!