25M considering FIRE. Seeking advice
25 considering FIRE. Here are my numbers: currently make around $100-110k 2 years into career. Im optimistic I can get to 250k in the next 5 years. I have ~350k in savings(~50k in a Roth/retirement). I’m in a serious relationship with a woman I love and I really want to marry her. We move in together in July, and if all goes well we plan to be married relatively soon. She’s a 26 year old financial consultant who makes around 200k and is up for promotion. Next year she will hopefully make 225-250k. She has around 200k. I don’t know the split between Roth and investment portfolio. This puts us at 500k+ invested, with a total income of 300k plus.
I’m happy at my job and don’t mind work, but she just put in 95 hours this week and her work is insane. We recently went to Cabo and she’s much happier away from her job doing the things she loves. Because of this, I want to FIRE. My idea is we combine expenses, live on my income, and invest 100% of what she makes. And when my income rises(a tech sales career path goes from 75 to 110 then 175 then 250k and realistically plateaus, or I become a CRO/VP and also work like a dog), we aggressively save some of that too. I don’t know if it would be even possible to get a nest egg large enough in 15 years to coast, but I don’t want her working like a dog for no reason. We want kids and it’s important to her we spend meaningful time with them and each other. Anyways, what’s something to consider before pursuing this, and what would u recommend I reflect on, read up on, or reconsider with my mindset? Maybe FIRE is unrealistic as this would mean we aggressively save and don’t spend any money during our kids development years, when ultimately I just want to provide the best life for my future kids and ensure they grow up in a loving/healthy environment.
Edit: Something I didn’t consider when writing this: future expenses. Our expenses are 3.5-4k each currently, but with some discipline we can shed it ~3.2k each. Bringing kids into the mix would most likely shoot up monthly expenses