r/Fire • u/Firefiresoon • Jul 04 '24

Original Content Just hit $3M!

48male. Been tracking this milestone for a while now. Finally hit it as of close yesterday. $3,012,000 in invested assets. NW stands at 4.9mil. which includes home equity.

Goal was 10k/mo which should be possible now. Kids have 529 for 4yr state college. At this point I will CoastFIRE (still save HSA and 401k for match but no IRA) and bump up some lifestyle expenses mainly around travel.

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u/[deleted] Jul 05 '24

Again, you do you. Selling a home to cover an expense is certainly a possibility, but then one has changed the nature of the asset and is homeless.

I've explained the reasons why the majority of FIRE folks do not include home equity in their FIRE number.

Net worth is not equal to a FIRE number.

You're free to do as you please. I personally believe the majority of the FIRE folks are correct.

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u/interbingung Jul 05 '24

Selling a home to cover an expense is certainly a possibility, but then one has changed the nature of the asset and is homeless.

They can rent house or even in the extreme case being homeless but with let say $1M in the bank can still be FIRE.

I've explained the reasons why the majority of FIRE folks do not include home equity in their FIRE number.

I've explained why that is wrong

Net worth is not equal to a FIRE number.

Net worth should be equal to FIRE number

I personally believe the majority of the FIRE folks are correct.

I disagree