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One of the important assumptions in the pursuit of FIRE is that when one has “enough” wealth, then that person would have attained financial independence. FIRE being such a popular topic in recent years ;), naturally there there is a lot already written on what is the correct amount to save in order to achieve FI. Popular wisdom says that the amount of wealth to be considered FI ranges between 25x-30x one’s annual expenses. (I’ve also seen 40x!)
See:
How do you reach FIRE
How much do I need for retirement – External link to Mr Money Moustache site
I’ve been thinking about it more conceptually while looking back at SippingCoconuts’ own journey so far. Because we, like most people who get interested in FIRE will usually start by estimating annual expenses, pull out calculators, multiply that by whatever is the multiple they’re comfortable with, whether it is 25x or more...