u/RickTwi

Is it even possible to FIRE with 800-1000€ monthly saving rate?

I’m M32, with a decent job somewhere in Europe earning about 4k€ after tax. I live in a very expensive country so my costs are high, usually around 3k€ a month (mainly due to ridiculous rent prices). I currently have about 30k invested (mostly in ETFs, small part in BTC), so I’m very much at the beginning of my fire journey. I’ve been trying to run the math to understand if it’s even possible to fire with these numbers and it seems unlikely, especially if I want to buy a flat at some point in the future as well. There will be some inheritance down the line but not soon and not a lot, probably around 150k-200k. I am also paying into mandatory and supplementary pension funds which I’ll be able to access after the age of 65. My FIRE number goal is 1,4M hopefully by mid/late 50ties. I think I might need to increase my savings rate to be able to get there. I am potentially also considering moving to a cheaper EU country and lowering my fire goal down the line if I won’t manage to get to 1,4M. I would really appreciate any advice/insights/tips/opinions on how to get there in my situation from other experienced FIREies in Europe? :)

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u/RickTwi — 3 days ago