One of the spending needs that many of you would consider as part of the income needs for your financial independence (FI) or FIRE, is to have enough money for some of the “better things in life”. Many felt that even if you have the capital to provide a recurring portfolio income that provides for a basic life that is not good enough. What for do we work so hard only to live a bare minimum life? They would measure the quality of life they wish to save for, with their current quality of life. A quality of life that they live on a recurring basis. If they feel satisfied with spending $7,000 a month on everything then this is the lifestyle they should FIRE with. It should not be a surprise that even if they reach a capital close to this originally (let us use a 3% safe withdrawal rate as a rule of thumb for discussion and say the...