Today’s interviewee is a young 45, has a single fund in his portfolio, and has an extremely low withdrawal rate to cover his even lower expenses.Even in a high-cost-of-living area, this person spends less than the median household income every year and has a couple of million in the bank to live off of.
Even in a high-cost-of-living area, this person spends less than the median household income every year and has a couple of million in the bank to live off of.Read on to find out more.
I have achieved my FIRE goal. I am at a point where I could withdraw 3% of my assets every year to cover my expenses. My personal expenses are currently under $40,000 per year.
I live in a 3-bedroom apartment with my girlfriend. I am 45 years old and my girlfriend is in her late 30s. We live close to Washington, D.C. I am not supporting anyone outside of my home.
How do I keep expenses so low in a high-cost-of-living area? I only support myself, and many of my costs are split between my girlfriend and me. My half of the rent bill is $1,200 per month, and utilities average $80 per month.