HELP. Please give me honest opinions if i am on the right path to FIRE. I have 66k in investments now but i plan to continue investing a modest amount of ~ 300/mth either into equities or stocks.

Hi anon, yes there is a chance to FIRE, but adding on to what YJ has said, you have a pretty big margin for error where if your returns aren't as good as you hope, you could possibly get a very rude awakening.

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I would humbly suggest pushing back your FIRE goal to perhaps late 40s to mid 50s, or increase the amount you invest into the market by 100-150%, to give yourself a much more cushioned runway. Alternatively, you can do both!

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Reason being that assuming your investments do 8% year-on-year, your money would increase to around $300k in your early to mid 40s. However, if we were to take a 5% dividend yield of this $300k (assuming you transfer it over), then you would get around $1,250 a month, which I could be alright for you, but as you adjust for inflation as time passes, it may not be so.

First of all, kudos to you for saving and investing so much in your 20s. It takes some level of discipline to save and invest 66k.

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Next, there are various types of FIRE. You planning to do leanFIRE, fat FIRE or coast FIRE? Different types of FIRE entails different amount of drawdowns.

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What you need to do is determine your annual expenses, take into account inflation and use 4% withdrawal rule (just a rule of thumb, feel free to adjust the percentage as you deem fit) to determine your FIRE amount. Just google FIRE calculators and there will be plenty of them around for you to tinker with :D

Hi anon, here is how I plan for FIRE.

Estimate how much money you need a month to retire and mutiply it by 12 to get the cash flow you need per year to achieve FIRE.

Think about how you would want to achieve this, by dividends, capital returns or both. I think 4% is q a reasonable rate of return. Of course, make sure you have a sufficient emergency fund to tide you over during bad years.

Divide the cash flow you need per year by the rate of return you think you can sustainably achieve to find how much money you need invested to achieve FIRE.

Finally, go online to find an investment calculator (I usually just google "investment calculator" and click the first link). Enter how much you currently have invested and play around with the numbers to find out how you can achieve that goal. Make sure that your monthly contributions and rate of return is reasonable and sustainable. Come back to make changes to your plan if required.

Hope this helps, all the best!

Yes. You are definitely on the right path. Keep doing what you are doing. in future you will get pay bonus, raises and windfalls. Use the money to invest. Good luck bro !