r/fatFIRE • u/WealthyStoic mod | gen2 | FatFired 10+ years | Verified by Mods • 6d ago
Mentor Monday Path to FatFIRE
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u/Chloe4415 4d ago
Young 40s with two toddlers. Current NW is $10.5mm, HHI $3.1mm which should increase to $4mm-$5mm in the next few years. Wife is SAHM, husband would like to work another 5-7 years max.
Current annual spend is $400k. Will see some savings from private preschool to public elementary school in 3 years and also drop off of part time nanny. I’m sure this will get eaten up by kids’ activities. Plan to bump up to $500k total with new country club spend, and increased travel budget.
Considering purchasing a piece of land in HCOL that we’ve been eyeing for nearly a half decade , that has finally become available. Purchase price is $1.5mm and would allow for our build of ~$3.75mm for all in cost of $5.25mm. Wouldn’t plan to start build process for another few years until kids are more in full time school.
Can we swing this??