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Retirement Discussions / FIRE Wannabees

URL:  http://boards.fool.com/first-another-congrats-to-you-1m-is-quite-a-22796290.aspx

Subject:  Re: Happy Dance Date:  7/25/2005  3:23 PM
Author:  ajs15 Number:  3467 of 5068

First, another congrats to you! 1M is quite a milestone, and as others have pointed out here, that resource gives you the option of immediate FIRE at some level, if you so choose. At age 48, we are at about 700k, and when some rental real estate debt which wil be paid off in the next couple of years, we should be there also.

I also agree with theBreeze on home ownership. Be a long term buy-and-hold home owner. If you are happy where you live and your current home suits your needs, don't become a family of gypsies moving/"upgrading" every few months or years. Unless you are in a declining market, or you know that a new dump is going to be located in your back yard, don't forget that your current home is appreciating also. Closing, moving, refurbishing costs will eat into your home equity every time you move, just like broker fees eat into your protfolio ROI.

Again, congrats and enjoy the peace of mind you are earning! What to do now is up to you! As we get closer, we feel less desperate to "quit the day job" and are focusing on what we really want to do for the next 10-15 years. A great feeling!

AJS
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