Asked on 25 Oct 2020
I have accumulated 160k in investible assets (not including CPF) after 3 years of working, intending to FIRE when it reaches 800k, so that at 3% W.R. it can safely sustain my minimalist lifestyle. If I do FIRE before 35, I will then go for a PhD, and find other ways to contribute to the advancement of humanity - which is the most exciting thing to me, not marrying. And no, having kids is not advancing humanity, but worse if people use means to help their kids get ahead - nepotism! I hated it.
If youre certain about the reasons of not getting married, buying a home and having kids. Then go do what you want and live your life to the fullest!
I'm also going a similar route. I found out about fire only after 2 years into married life.
But now, i'm saving and investing regularly to meet my FIRE Goal Amount.
At the end of the day, if i'm able to compound safely at 17% per annum. A safe withdrawal of 4% will defintely beat inflation.
But of course, i need to start looking into setting aside 2-3 years worth of expenses just in case market dip and went through 2-3 years of drought.
Then i can still use my 2-3 years worth of savings to fund through this drought.
Once it recover back, i'm able to rebuild this savings amount...
You are free to do whatever you wish.
You should also know that you are free to change your mind later and you just need to make adjustments to meet your new goals.
Last but not least, is $800,000 really enough? Have you considered and are covered for rainy days e.g. illness?
25 Oct 2020
Hi anon, I do hope you have considered inflation and crisis every 10 years or so and perhaps if your parents may be forced into retirement early and having to depend on you. Remember to have your insurance settled as well. Otherwise, it's always good to aim high and go for it! :)
1 more comments
31 Oct 2020
If you are really sure about this, then go ahead. The above 3 that you have mentioned are arguably, factors that will put a significant dent on your finances. Getting rid of those will definitely get you to FIRE earlier.
2 more comments
31 Oct 2020