Post FI Notes 20: Newly Retired and Traveling Like Mad!

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Having achieved their financial independence number some time ago and now having an empty and oversized nest, they felt comfortable moving on to the next phase of life in their early 50s.

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These Californians are now exploring the world and have no plans to slow down anytime soon. How long can this go on? Read on to hear how they got to this point and what life is like on the other side of FIRE.

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Getting to Know You

You’re financially independent. About how much does your household spend in a typical year? How much could you spend while still abiding by the 4% rule?

Our annual expenditures spanned from $125,000 to $270,000 with the “home” and the “travel” category battling it out for first place. Home expenses were nominally $50,000 and we did have years where our travel budget reached that – we like family experiences!

Ironically, the lowest year was 2020, as the pandemic removed our travel expenditure, we didn’t eat out, etc. The major fluctuations were in travel and automobile purchases (we have never had an auto loan). We can comfortably be in that range with the 4% rule, and have cash flowing real estate in addition.

Tell us about your household. How many people and at what ages? Are you supporting anyone outside of your home? Where do you live?

We are in our early 50s and have 3 adult children, the youngest just starting college this year. My spouse is a software engineer and we got married in my first year of medical school. We are located in the Southwest in a HCOL area. (it was LCOL when we moved here….thanks a lot Californians 😉

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