Let me share a bit about my journey to achieve FIRE, which I hope to do in couple of years. By FIRE, I mean no more working. First, I found that one needs to define the type of lifestyle you want after retirement, and then define your magic NW number which will give you target passive income to meet your chose lifestyle over the years, taking into account your ROI and inflation. Sounds simple. Anthony Robbins gave me a fresh way of looking at these targets. According to him, there are different levels of lifestyle which one can target. These range from having enough to provide shelter, food and pay bills, i.e., basic, next step is to be able to indulge in some dining out, shopping, entertainment, next will be ability to go on vacations, splurge on some pampering, more dining out and enetertainment, golfing, change car say every 8 years, upgrade furniture, etc, and maybe the final level will be to do things which you are not even doing now - charities, luxury vacations, branded clothing, 5 star hotels, business class flights, etc.. As I get closer to my NW number, I keep realizing that I need to account for things which I did not earlier, such as old age care for parents, maybe my kids wish to do post graduate studies, maybe help them with their first car, renovate the house after 10 years, etc, etc.. So all this kept increasing the target NW I require, which has delayed my RE date. Anyway, getting close now, may not be a significant E in the RE, but definitely and E, in any case.

So think carefully on the type of lifestyle you expect to have when retired and don't forget that there will always be something you have not thought of that will eat into your nest egg, so some contingency will be wise.

This post has been edited by Mattrock: Sep 13 2018, 07:10 AM

This thread has diverted from topic and bordering on misuse of Lowyat facilities and should be shut down by moderator.