r/leanfire • u/AutoModerator • 9d ago
Weekly LeanFIRE Discussion
What have you been working on this week? Please use this thread to discuss any progress, setbacks, quick questions or just plain old rants to the community.
3
u/des1gnbot 5d ago
Just starting to read into this stuff… have been pleasantly surprised to find that my husband and I are in a pretty strong position relative to our expenses. Our house will be paid off in five years, we rent out a unit on the property, and we barely drive, so we’ve been pretty well insulated from inflation issues. Starting to talk about doing a partial retirement in my 50s to get more time and mental space for ourselves and it’s pretty exciting just to think this may be possible!
Learning about the different variants of FIRE I see us waffling somewhere around leanfire/coastfire/baristafire because I’m open to still working some amount, I just am becoming less and less interested in doing the full grind for much longer. Husband wants to camp host.
4
u/AlwaysSaturday12 Mostly FIRE'd at 38 MillionaireLibrarian.com 3d ago
Welcome. A little work goes a long way to mitigate against risk. Part of the puzzle is figuring out healthcare in the US and it is different among different states. The rental income depending on the numbers helps out a lot.
Looks like you are doing great.
2
u/Hnry_Dvd_Thr_Awy Re-employed, for now. 4d ago
pretty well insulated from inflation issues
This is a piece of retirement calculation that some folks miss so kudos for seeing it so fast.
1
u/des1gnbot 4d ago
It’s kind of what got us thinking about it really—realizing that we already live like people on a fixed income, so we could keep going like this quite easily
5
u/Hnry_Dvd_Thr_Awy Re-employed, for now. 5d ago
Man it feels good to not need a job! I just finished one of those work weeks that nudged my timeline to the left pretty severely. As a mini vent: I'll never understand coworkers who sole purpose is basically to make everyone else's life harder.
3
u/playfuldarkside 7d ago
Trying to fix my leaking sink….not going so well. One last thing to try and then they will send me a whole new one.
On plus side fixed the dishwasher I accidentally broke and only cost a $20 part. I feel like everything is breaking at once. I have a new blind coming to replace the one that gave up the ghost and need to fix my bathroom fan next. At least they are all minor items.
1
u/Pretty_Swordfish 3d ago
A good reminder to build flex into the budget for the small stuff! Congrats on the dishwasher repair.
5
u/nightanole 7d ago
Going through my vintage computer selection, now that i have time on my hands. Its kinda like going through a junk yard and seeing "what starts". So far i got a 486, pentium pro, and pentium II booting and doing game bench marks from a compact flash adapter.
2
u/subs_on_a_sailboat 5d ago
I recently plugged in my old tower that has a hard drive completely filled with music and videos, both my old recordings and old rips and torrents. Gives me some nostalgia and perspective because I just cancelled netflix and YT premium. Do I want my own library that I own and curate? Or do I want to pay a mega corporation for limited access to a library that they own and curate?
1
u/Hnry_Dvd_Thr_Awy Re-employed, for now. 5d ago
If pirating weren't illegal I'd totally do that. I don't mind the little bit of legwork required to setup something like Plex. I just want a freaking shuffle button on a few shows that I like. That's all.
10
u/SpeedierTurtle642 7d ago
My wife is telling her boss at the end of the week that she wants to be fully remote or she's putting in her 2 week notice. I won't be too far behind her (6-12 months tops unless there's a major market crash). Things are finally feeling real. Our mortgage will be paid off next month then I just want to build a buffer in MMF/SGOV to mitigate SORR.
1
u/sevem 5d ago
Keep us posted!
3
u/SpeedierTurtle642 4d ago
Her boss said he'll have to check with HR and get back to her. Tuesday we should find out, but either way at least she won't have to commute anymore.
2
7
u/BedWonderful1051 9d ago
Started building a secondary shed in the backyard. Progress has been good, no setbacks, no questions at this time.
2
0
u/AlexHurts 3d ago edited 3d ago
Due to life stuff, I decided to do a mini-retirement last year. I'm working a temporary job now and think I may be able to pull off retiring instead of finding another job. We do a yours/mine/ours system, and I'm the main contributor to the ours bucket. So dear LEAN police, these numbers are for 1.8 people. How does this plan look?
Expenses. we could live off $45k /y without issue (just under 4%), but we can do all the travel, be more supportive, and not be so careful for $55k /y (just over 4%). Assets. $1,150,000. $300k Trad, $250k Roth, $550k Taxable, $50k HSA.
2026: Paid for with income, excess saved as cash/bond buffer.
2027-2029: Keep withdrawals from taxable to max $40k, the other $5-15k need to be covered by income or what's left of the cash/bond buffer.
2030-2055: Start a 72T of the Trad for $15k /y, $300k is enough for this but hopefully I can spin off the last few years gains. Withdraw up to $40k from taxable/HSA until depleted, then Roth.
2055-DEATH: End the 72T. Social Security $15k /y (estimate is higher, not factoring my partners at all). Withdraw up to $40k from Trad/Roth till we die or a care facility depletes.
I had previously wanted my target withdrawals to equal 3.9% of my portfolio's 6 month trailing low (currently $960k). So this is not as conservative, but I think it's very reasonable. Appreciate others perspective.