r/baristafire • u/foolofatookbaggins • 22h ago
BaristaFIRE plan shake down
Hey baristaFIRE peeps, long time lurker, first time poster. I’d like to get the group’s opinion of where I stand for my planned baristaFIRE retirement.
I am a 40m, living in the PNW, single with no kids (unless you count my cat). I have zero debt of any type. Used to be a homeowner but currently a renter because I prefer the freedom/flexibility it gives me to move around as needed or wanted.
Current Income
Employment: $86,611 annually (gross)
VA Disability: $3,939 monthly (not taxed). I served in the Army for over a decade and got injured multiple times in Iraq and Afghanistan, so please spare me any shade here.
Current Liquid Assets
Roth 401k: $70,000
Roth IRA: $109,000
After Tax Brokerage: $93,000
Money Market (e-fund): $20,000
HYSA: $4,500 (this is just fun money)
Current Investing
Max Roth IRA annually
Max Roth 401k annually (+3% company match)
Not contributing to brokerage on a consistent basis, just whenever I have extra money to throw at it.
Current Monthy Spend
Living very comfortably on a monthly spend of ~$6,000. Needs account for about $4,500 while the rest of the $1,500 is for wants.
Future Income Streams
Social Security Estimates (yes, I know about the potential issues with SSA): I plan to wait until age 70 to get delayed credits: $3,700.
VA Disability (receives COLA adjustments annually) for life: $3,939.
Retirement Plan
I am looking at working full time for another 5(ish) years, then switching into a part-time role, working off and on to allow time for hobbies/rest/travel between bouts of work. Thankfully, this is doable for my career. The planned mix would be about 6 months on and 6 months off throughout the year. I’d continue investing like I am now until moving into the part-time role, when I’d stop investing and live on my part-time income + VA, while leaving my investments alone to continue to grow. I’d do this until my late 50s/early 60s when I’d switch to a full retirement.
How does this plan overall sound? Am I missing anything? Is there any additional context needed that I didn’t list above?
Thank you so much for whatever insight you have 🙏🏻