The article discusses a Redditor aiming for early retirement in 2-4 years, highlighting their $3.5 million net worth and annual savings of $200,000. Despite aspirations for a new home, they grapple with the rising housing costs in their market. Their plan involves substantial increases in spending, raising it to $150,000 per year post-retirement. The article reflects on the FIRE community's goals and emphasizes careful financial planning to avoid overextending oneself with home purchases prior to retirement.
The goal of early retirement is far more than just a dream, it's a reality that can sometimes lend itself to dramatically saving every month to achieve.
The best scenario is to buy the home outright and forget about a mortgage altogether.
As they live in an expensive real estate market, their current thinking is to buy a home now while they can show a sizable income.
The Redditor and his wife, both 45, have around $3.5 million in assets, including $1.2 million in a brokerage account.
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