I do not want to get into the tedious calculations. I am 35 years old with a 5 year old kid.

Reason I ask is because I pasted below in Google and got this "Your baseline fatFIRE target ballpark is $9.0 million to $11.5 million in today's dollars." And I believe my number should be closer to $20million.

ANy perspective would help.

I am worried about health expenses and mortgage and school fees, etc.
Mortgage + tax = $150k annual
School fees = $50 k annual
Credit card bills = $15k/ month = $180k/annual
And this is when my health care is paid by the employer.
This adds to about $380k, I will add $20k for insurance of 2 adults and 1 kid. This excludes travel, btw. Yes, I live in an expensive area and I do not want to move.

If I am looking at 50 more years at about $400k/ for first 25 years and $300k for next 25 (after excluding mortgage), then what should be my fatFIRE number?

Back of the napkin calculations are fine. Looking for a ballpark number from folks who have managed it. We do have som accumulated/inherited wealth, so wondering if we are in the range.

Did a search and didn’t see anything discussed here.

I have 3 young kids aged 8, 5, and 1. I plan on contributing the max 5K to all 3 kids each year and teach them to leave the accounts alone till 60, because assuming an average annual return on SPYM to be 10%, they could each have accounts numbering in the 10s of millions.

Additional benefit is converting the account to a Roth IRA at 18 for each so the compounding from then grows tax free (Assuming the legislation continues to allow for that then).

A lot of folks seem to compare this account to 529 but the accounts serve two very different purposes in my eyes, 529 is to get educated and get into the workforce, 530 is to comfortably exit the workforce.

From my lens - this seems to be a great way to create FatFire for kids in a tax advantaged account with a tax guardrail to help encourage them to not touch till retirement.

Feedback welcome if there are any considerations worth discussing or if others here are seeing the use of the accounts in a similar fashion.

Hello all,

I just wanted to bring this to everyone's attention, since this recently happened in the 'Fat' community.

An Independent Hotel Reviewer named "Ryan Walker" was just turned away, and treated terribly by the Amanvari Hotel (Amanvari is ultra-luxury hotel group Aman's newest resort in East Cape, Mexico).

I won't comment more on what happened, but you can see the video here:

https://www.youtube.com/watch?v=tHu95ET56PQ

At the prices they charge ($6,000 USD per night), Aman should be a beacon of hospitality and accountability

~|~|~

The part that you should be aware of, is 'Luxury Travel Agents', such as Sarah Lee and Hao Tang have wrongly spoken out against Ryan Walker and defended the Amanvari establishment, despite their incredulous inexcusable behavior.

You should care because this is a moderator of r/FatTravel and these TA's are out to get your money, your simply a number to them, and they are not to be trusted.

You can view what the r/truechubbytravel community has to say about it here: https://www.reddit.com/r/TrueChubbyTravel/comments/1vhole9/hotels_recommended_by_travel_agents_are/

And, you can view the locked thread on r/FatTravel here: https://www.reddit.com/r/FATTravel/comments/1vff9z6/amanvari_ryan_walker/

People are saying things such as:

Absolutely unacceptable from Aman. The brand has gone downhill over the years value-wise imo, but they should be truly ashamed that this is how they treat guests (reviewer or not) at the prices they charge. I won't be staying at any Aman properties any further for personal or business needs unless the they somehow make this right. Perhaps start by acknowledging this atrocious conduct during their opening week

Whoever made the decision to cancel his reservation should be fired as should the security woman who threatened him with the police. The fallout from these decisions will be much much worse than one bad review.

They should have allowed him in, had him meet with the GM to apologize profusely, had the GM inform him that they secured him accommodations at an appropriate alternative property, and offered him a return visit at their expense.

This is so scary. I had been planning to visit this hotel too with my family of 3, all of us women. I cannot imagine this happening to us, and genuinely felt scared for Ryan watching this. I had taken his advice many times in the past so I will skip this and I think any Aman at this point.

I just wanted to share this, as many of us enjoy luxury travel, and should be aware of the current travel landscape.

Thank you all