Many Americans believe they need millions for retirement; however, with $1.3 million, it is feasible to pursue a lean FIRE lifestyle, particularly in lower-cost living countries. A specific example is given of a 52-year-old man planning to retire in Thailand with a $1.3 million portfolio and expected monthly expenses between $3,000 and $3,500. This budget supports a withdrawal rate of 3.2%, lower than the typical 4% rule, making the retirement plan sustainable if additional expenses, like healthcare, are analyzed. This scenario assumes no children or significant liabilities.
With a $1.3 million nest egg, one can achieve lean FIRE in a low-cost country like Thailand by minimizing expenditures and planning wisely.
The case of a single 52-year-old illustrates that living in Thailand on $3,000-3,500 monthly can make early retirement financially feasible.
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