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Reply to "Is FIRE next to impossible with children?"
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[quote=Anonymous][quote=Anonymous]I think you're ok, you have $1 million and assuming you're 35 and both max out your 401Ks with a 5% match, at 7% you'll have around $5.8 million in 20 years at 55. That would be $233,000 per year based on a 4% withdrawal rate. [/quote] Oops forgot to add that if you're interested in FIRE then at your income, you can drastically cut expenses and aggressively save now, even with kids. Live off $250K and save the rest including maxing out 529s and saving for kids' futures, and you can still retire by 50. [/quote]
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