There is a Garda on my road who says he can retire in 3 years at 56 years old. He says that he has no savings but will get a full pension when he retires. He has a wife and 2 kids and his wife works part time. I say fair play to him if he can, but can he afford to retire with no savings?
Hi all. I am single 45M living in southeast Europe. My portfolio is 600000€ consisting of:
60% covered call etf’s ( winc, jeep, jeqp and syld )
25% pjs1 as stabilizator/cash reserve
15% vwce for some growth
I live im my apartment, fully paid off.
My monthly expenses would be 2000€. I am prepared to live with 1500€ if the market gets really bad.
What do you think, can I FIRE?
Moving back to Ireland next year and want to get a sense check on fire readiness.
39m, wife and two kids (5 and 2).
Assets:
- 600k liquid, post tax, invested brokerage
- 300k rental apartment in foreign country giving ~10k pa in net rent
- home in current country with 500k equity, may sell upon leaving or rent for 5.5k per month (mortgage is ~ 4.3k per month)
- 100k pension ( can withdraw when leaving next year)
- apt in Ireland worth 200k, paying 6k net in rent, no mortgage
Question: has anyone in a similar position fire’d or coast fire’d in Ireland? How did you think about where to live (beyond family and friend considerations). I figure I could buy a place in the countryside for 500k, and live off 60k a year including a mortgage repayment (spread renting house in foreign country + paying mortgage allows a small real mortgage monthly payment in Ireland).
Could get a job or try get some
Freelancing work and time should get the portfolio to 1.5-2m liquid (ish, including rental properties) within 10 years.
Haven’t lived in Ireland in 10+ years and don’t spend much time there now however so not sure if cost assumptions with two young kids are ballpark ok or way off!
Any guidance much appreciated