How much is enough to FIRE in San Francisco?
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How much is enough to FIRE in San Francisco?
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Re: How much is enough to FIRE in San Francisco?
#2The funny thing is that I just plucked 5MM out of a hat for my number 5 or so years ago when asked and I guess this analysis supports my intuition.
The one big problem with renting is instability. If the owner decides to sell the property, it may be difficult to find something equivalent on your terms or you may be forced to hop around a few times before settling.
Re: How much is enough to FIRE in San Francisco?
#3[flagged]
Re: How much is enough to FIRE in San Francisco?
#4Doesn't this depend heavily on inflation? With the ballooning US debt, how do people imagine the government will continue to pay interest without massive inflation in a few decades?
Re: How much is enough to FIRE in San Francisco?
#5Companies are essentially subsidizing $1M (or more now?) mortgages if you are willing to go into their SV offices. You don't have to retire there! Just sell the house and move on.
Re: How much is enough to FIRE in San Francisco?
#6140k in spend in SF is a broke lifestyle. So more like 10mm at least
Re: How much is enough to FIRE in San Francisco?
#7The funny thing is that I just plucked 5MM out of a hat for my number 5 or so years ago when asked and I guess this analysis supports my intuition. The one big problem with renting is instability. If the owner decides to sell the property, it may be difficult to find something equivalent on your terms or you may be forced to hop around a few times before settling.
At least in SF, tenants get pretty generous buyouts when the landlord decides to sell.
Re: How much is enough to FIRE in San Francisco?
#8This analysis doesn't seem to account for inflation? In 40 years, withdrawing $140,000 will not be nearly as much.
For reference, inflation over the last 40 years has been 300%. So you're talking about $47k in inflation adjusted purchasing power in 40 years.
Re: How much is enough to FIRE in San Francisco?
#9I wonder what the number would be assuming you own your own home. I thought it would make a real difference, but instead of $60K/year you spend on renting a house (in his calculation), you'd spend $30K/year on property taxes :-(( So, not much of difference if you own a $2M house.
Re: How much is enough to FIRE in San Francisco?
#10I wonder what the number would be assuming you own your own home. I thought it would make a real difference, but instead of $60K/year you spend on renting a house (in his calculation), you'd spend $30K/year on property taxes :-(( So, not much of difference if you own a $2M house.
Not if you bought a couple decades ago or inherited from your parents.