leanfire vs fatfire

I found a subreddit for females here

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This is where I get confused
My BIL is getting super and a part pension, how does one do this exactly? I cant get my head around this, too much information it becomes a blur... and I don’t want to ask him

 

This might help...also give a good explanation...calculator is also helps

Age Pension Calculator | Noel Whittaker

 

BONDIFIRE

Beyond Ordinary Net Disposable Income FIRE


SIXFIRE

6 Figure FIRE


DOUBLEFIRE
Dual Occ FIRE


FIRERETARDANT

Low Yielding Vanilla Properties


POKINGTHEFIRE

What I'm doing right now

 

I wont be in Lean or Fat but should be HotFire

Should be okay to live comfortably from 55 to 70 from personal and super returns if number is not up yet (hope not)

Have a feeling that from 70 onwards should be planning for HotFire as no ideas which one of those wont be working ... heart, liver, kidney, lungs or whatever

 

HENRY

“High Earner, Not Rich Yet”

 

Yes...know a lot of HENRYs..lots on 350-700k...some even have 25m to their name (divorced and got as settlement)....they always tell me that their wealth is under control as they have good advisors....or they get shares from their company...or they are partner of some law/accounting firm...blaaahhh..blaaah....I have to bite my finger to prevent myself laughing out loud when I was working...but now I just laugh at them..anyway...........go nutin to prove....

 

Mrs Doubtfire - it doesnt matter if you call it fire or not as long as it works for you.

 

What about obesefire???

 

Backfire - when you work yourself into an early grave trying to save for your retirement.

 

I like this


Balance in life

 

or Seeking arrangemts

 

Just saw this

Tax Tips/Strategies #4 | How You Can Fat FIRE on 137k Per Year Without Paying Tax

Cont...

 

$137K seems high. It used to be in the $90ks, but tax rates have changed over time.

I haven't got the inclination to read that article though.

 

The "tax free" income isn't actually tax free. It's basically a quasi-static assumption that you can own enough shares in a company paying fully franked dividends that the dividend paid to you has a franking credit equal to that of the tax you would owe as a personal investor (ie your average tax rate is equal to that of the company tax rate). Still pay tax, but owe nothing at EOFY.

If that same money was in super and in pension phase, you'd have an extra ~$60k. Super is still the #1 place to draw down tax-free income in retirement.

 

Yes thats right, might be better to word it as no extra tax.