Hey all!
Long time follower of this sub. As the title say, things are getting real, seemingly.
When I first started this journey in 2017, I set a goal/number of $500k. That would cover my expenses and I'd be solid. Well, speed up almost 10 years and that's not my current number. However, I have kept yearly spending in the $20-$30k range since. Higher being recently due to inflation and some additional travel. But can live comfortably in between those numbers.
10 months ago, I hit that $500k mark. It felt surreal. I did it never making over $100k, and just investing what I could over the years. Heavier investing did pick up until 2020 until I was fully out of debt, etc.
So yeah, what's getting real.
I'm currently 43(M). Living in big city Midwest. Just hit $600k this week. Felling is still insane. I'm near my LEAN FIRE number. This doesn't feel real, like at all.
Here's the thing, work is super weird right now. I work in a tech adjacent role and AI buzz has taken everything over. C level seems to be pushing effecinaces and savings like crazy. Even rumors or a reduction in force. Definitely feel better with the position I'm in, but not there, yet! I guess I have FU money.
Here's my question. Anyone take a leap and just FIRE near your number?
With my low expenses, maybe I just go find a job, any job that pays decent. Or in a field I enjoy, more of the Barista FIRE route, although I wouldn't need to draw from funds most likely.
I've been at my job for almost 20 years. I've always was sort of envious of those people who could bounce around to different places. Maybe I can do that? Just looking for thoughts/dialogue.
Some numbers:
Home valued at $290k at last appraisal. Owe $130k at 2.875%. Cheap Property taxes abated until 2035.
401k: ~$280k
IRA: ~$145k
Roth: ~$85k
Taxable: ~$55k
HSA: $40k
I also have about $20k in cash for EF.
Mandatory bills: Mortgage - $816 and utilities (electric, gas, water, Internet and phone) ~$500. Everything is is food, entertainment, travel and house sinking funds. Car is fully paid off bumper to bumper until 2031. Single. Child free.
Income: $98k
Happy Saturday, all! Cheers!
EDIT: Thank you all so much for the advice. I'm definitely sticking around in case they offer a package. I'm willing to take the risks with my savings. Normally it starts at 2 weeks per year of service. At almost 20 years, that would be pretty nice. In the interim, I'm lowering my 401k to match, and piling into cash/brokerage. I'm also doing some minor warming of connections I have in some spaces I wouldn't mind working in. Even in a low paying "back room" type to role. My preference is just staying employed at the current place. We'll see.
I will update it if there are any changes, or when I hit my number.