Reply to Has anyone here on a normal income successfully FIREd?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm perplexed that OP thinks a paid off house means you don't spend on your house. There's still insurance, property taxes, and maintenance. Maintenance can be a lot-- like a new roof, repointing if brick, painting if not, etc. These things are not just cosmetic, they protect the home. You can't say you'll live on $90K forever and not take account of these infrequent yet 100% predictable expenses.[/quote]

OP has a paid off condo. Keep up.

That a bunch of people are aghast that someone can live off of $2 million in savings with a paid off $500,000 condo is bizarre. You’re telling on yourselves and how out of touch you are. $2 million is a fortune for 99.99% of the world.[/quote]

I'm keeping up fine, thanks. OP has a condo and plans on having a paid off house, which he thinks he can pay for and maintain on $90K total per year. Including, possibly, things that condo owners don't have to self-pay such as a roof or building exterior.[/quote]

You do understand that OP’s $2M principal is in the S&P 500, which increases at 10% a year historically, and with OP withdrawing less than 5% of the principal a year the principal will grow at at average of more than $100,000 a year. OP could just wait 5 years and take their excess capital gains of $100,000 x 5 + $500,000+ equity in condo and buy a million dollar home in cash.[/quote]

Or the SP500 could go down 15%+ for the next 2 years, and the principal lowers and yet they still need to pull out $25K for a new roof and another $10K to paint the house/repair something.  
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