I think this is an interesting question, especially since there are many LBYMers who read this board as well. The $500K you mention was my original target BUT I wanted my house paid off as well. As I evaluated my net worth over the years I would include an asset (i.e. car, house) as long as there was a corresponding loan still outstanding. However, once those major liabilities were paid, I only considered my potential income-producing assets as the number I wanted to use as a benchmark.I think we've discussed earlier that your home equity should only be counted as a potential income-producing asset if you sell and downsize or plan to rent it. So my question is, are you counting the value you have in your home to be part of this $500,000?For myself, I would not consider $500,000 to be enough if I were still making a mortgage payment. My expenses last year, excluding income taxes, were just under $17,000. I'm hoping to live more frugally than I may need to in these early years of early retirement to give my portfolio some more years to grow. I'm comfortable with that now and certainly consider being able to avoid the alternative (WORK!!!) to be worth it.
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