After reading books and blogs on early retirement and listening to podcasts, we have determined how much we need to retire. Based on two years’ worth of data (we’ve only started tracking our finances seriously in 2023), we spend $60,000 annually. This spend includes household expenses and one to two week long vacations. Using a conservative 3% withdrawal rate, we will need $2,000,000 to retire. While the number seems daunting, and our withdrawal rate may be considered too conservative, this is the number that we feel comfortable with. As of December 2024, we have invested $558,000, which is not too bad. Will we reach our FI goal in seven years? We hope so! We will be tracking our progress in this blog.