FIRE Milestones – Picking Your FIRE Escape Date

Mr.FireStation

Mr Monopoly

Setting long term goals is one thing, but following through with them is another. When you first start thinking about playing with FIRE – being Financially Independent & Retired Early – the key question is are you tracking to a nest egg number, or a specific date?

Like many people, I always figured we would quit the day we hit “The Number”. Achieving a nest egg of that amount seemed like it would take long enough, but we were surprised when it came several years before we were expecting. Instead of walking off the job, that became the point when our planning began in earnest.

We picked a retirement date to start planning around late last summer. It was about a year after we had hit our financial independence number and a little less than two years (20 months) from when I thought would…

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