Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
I've been looking at the numbers since doing my New Year's numbers, and have a healthy 12X salary. I have found that Real Estate makes up 6 times my salary. Did having Real Estate figure into your FIRE Calculation? I am drawing income on some of this, but my primary residence provides shelter, not income.

I have always heard to figure you need 25X total expenses in order to FIRE. If you are at 12X salary, what is that compared to your expenses?

I wouldn't calculate my primary residence in my calculations, unless I was going to sell it and buy something cheaper. However, personally, I did just buy my first rental home. My first tenant just moved in. Once I have some history with renting and can figure as safe amount of monthly income from it, I can count that toward my FIRE income.

In my case, I have two pensions. The first will come in about 13 months if I make it that far in this career. The other I'll get at age 60 if I live that long.

I'm planning to retire early in roughly 13 months. My wife plans to keep working. I am planning to get another job as if I work FT and get an average salary, that combined with my pension, will be more than I have now, so I can potentially save and invest even more than I currently do.

I need to get back to posting on this board. I was the one who started it way back when.

Fool on,

mazske

All holdings are listed in my profile
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.