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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We plan to FIRE at 50, when our sole child is through college.  It's doable - key is to have fewer kids and manage your expectation that Early is 50, not 38. [/quote]

+1000

Once you get your kids thru college (or at least into college with a fully funded 529) then it is much more reasonable to be able to FIRE/retire.  That is a normal "retire early" plan.  Main concerns at that point are health insurance (which would be 15K/year, down from 20-25K for family coverage), home costs (pay off mortgage and all you have is maintenance and Taxes/HOA) and food/utlities/extras you desire. At that point you don't have 1+ not launched kids that you are responsible for.  I agree the key is to only have 1-2 kids.  Cannot personally imagine college for 3-4+ kids (we make too much to get any aide), even with in-state options that's expensive

Plenty of people retire in their 50s/early once kids are launched (off your payroll). Your expenses go way down

[/quote]

Who said it's a law that you have to put your kids through traditional 4 year college and pay for everything? Majority of people don't even have this option.  Guess what? Their kids still go to college. They take grants/loans and they also attend community college for 2 years saving tons of money.  College courses are only specialized for 2 years.  I don't get it, you push your kids to take AP classes and all that stuff that's supposed to transfer to college credits and they still need 4 years to get a degree in one major?[/quote]

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