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I’m really a struggling with hammering down my number – I think I hit it but continue to second guess myself…
How did you overcome your fear of fire after working so hard towards it?
Overcoming the fear of failure can be challenging, particularly when you’ve invested time, energy, and resources into something important.
For those who have faced this situation, how did you navigate the emotional and mental hurdles?
Did you use specific strategies, adopt new mindsets, or lean on support systems to push forward?
Share your insights and experiences—your story could inspire and help others dealing with similar fears.
TomThat’s the funny thing. Saving is easy. Withdrawal is hard.
DavidI hit FatFIRE last year at 38, and it was very easy to overcome any fear for me. Because of a few reasons:
1. My work environment was toxic as heck
2. My passive income is now greater than my W2 gave me
3. I believed in the math as I went down the path to FIRE
I think it’s a scary thing for most especially the idea of spending down your portfolio. But as long as you have some wiggle room in your FIRE number I say trust the math.
What gets harder too for many is the idea of your portfolio decreasing once FIRE.
Because we spent so much time building up these portfolios it’s different to then utilize that money to live on.
WarrenProblem is, if you get the math wrong, you might have to go back to work at age 70.
ShaunI talked to a financial advisor to confirm that I could retire at 55. I kind of knew I could but wanted to talk to someone who dealt with this often to rubber stamp what I thought.
I’ve never liked working, I’ve enjoyed jobs as well as people and places at work, but I hate being on a work schedule.
I knew as soon as I could retire I would and that became my goal.
I changed it slightly as I got an offer at 52 when I was about to retire that was too good to turn down so decided to work until 55.
وووAngeloWork within a range of numbers. If you try to plan precisely, you will be precisely wrong
RobertJust as there is no “one-size-fits-all” to FIRE: there is no one right or wrong way to answer this question.
It’s going to be different for everyone; and how everyone adjusts and adapts to the “RE” part of FIRE is going to be different as well.
I wish I could be more specific; but perhaps some other folks on here could chime in.
JennGet with your CFP or CFA and have them run a Monte Carlo simulation. Make sure you take into account all of your future wants and needs.
GeorgeBe conservative on the number (growth rate, future income, etc), scrutinizing the formula, seeking feedback on your formula, including the withdrawal strategy, etc
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