Thanks for sharing your experience Nick. It sounds like you’ve got things dialed in pretty well.

I completely agree that a specific net worth, or even a specific portfolio size (i.e., excluding equity in your home), divorced of the income it brings and the budget it has to cover, is not useful in reaching financial independence.

However, the rule of thumb of 4%, 3.5%, or 3%, in combination with an estimated retirement budget, is useful in giving you an early target for a portfolio size.