The Family Fire

I just finished a 10-hour binge reading session of FIRE blogs and I’m ready to pull the trigger. I estimate I can retire in 10 ½ years, financially independent. All I have to do is increase my savings rate to 65% by cutting my expenses and increasing my income. The expenses will be easy. My biggest expense is housing, which I can almost completely eliminate. If I sell my house and move in with a friend, Boom!, huge savings. Also,…

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In order to reach FI, many FIRE bloggers recommend setting aside a sum of investable assets equal to 25 times your expected annual expenses. That way, you can use the 4 % rule to provide the income you need for your anticipated expenses. There is some debate as to whether the 4% rule is an advisable strategy, especially for those seeking early “retirement.” But simply put, the 4% rule states that you can withdraw 4% of assets (adding inflation each…

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My name is Jed, my wife’s name is Melissa, and we are the Pritchett family. We have two daughters, age 6 and 3, and a 1-year old son. We are a military family currently stationed north of Seattle, Washington. Both Melissa and I grew up in Ohio and met while attending college. After graduation in 2005, I was commissioned in the Navy and moved to Pensacola, FL to begin flight training. Melissa and I dated long distance for a year…

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