Reply to s/o living on $25k or $36k a year

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We spent 20k last year on non-housing expenses, and another 14K on rent/utilities. Total ~35K. This was our last year before moving to DC.

[b]For us the key was living in a low cost of living state[/b] (in the South!). We had a 2bd/1ba, cheap restaurants, and went hiking/camping for fun. In DC, we can still most of these things, but rent is killing us.

[/quote]

This is really the key.  Owning your home outright, in an area where property taxes are low, is a great first step.  In addition, being retired, and so having time to do things you might otherwise be inclined to pay for, also is important.  Finally, being single, like a PP, obviously cuts expenses considerably.

But, let's not forget that very few FIRE people are doing it without some public assistance.  They're on Medicaid, if younger than 65; and likely other types of assistance.  This galls me - people who *could* be working and footing their own bills just deciding to stop and live off a small amount each year, plus public assistance that is designed as a safety net (not a "let us help pay for your early retirement" plan).  [/quote]

I also wouldn't necessarily assume all the FIRE people are only spending small amount per year, it just that they are only drawing in that much income and are otherwise supplementing with non-taxable savings sources so they stay under the thresholds for ACA and other subsidies.  Agree that a lot of this is living in a LCOL area with a paid off home and low property taxes.[/quote]

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