I'm single with a net worth of $550K - how far off am I from bare-bones retirement?

Nah, nowhere near enough to retire unless you are fine living as a transient/homeless rube.

If you're unable to calculate that, you are probably unable to manage the finances over the long haul to make it work -- especially when you consider the ways you need to have a buffer for, and multiple means of dealing with, unforeseen circumstances.

I'm living in a moderate-high cost of living area now and have never lived in a LCOL place, so I'm not entirely sure. Back-of-the envelope math suggests that it might be doable, but I just wanted to check.

You can buy a house in rural Kansas for under $30,000. Plant a garden. Live the good life.

Healthcare.

You're stuck working.

Always remember it's easier to earn money than to keep what you have, so keep working until there is no doubt that you can live on your investments.

So, based on your age (38?), it is probably not feasible. Let’s say you buy a $150,000 house. That leaves you with $400,000 to invest. Assuming 4% above inflation (under Trump, it was 10%, under Biden it has been 2%). That would give you about $16k a year to live off. I guess if you went without healthcare, you might be able to make it work if you ate Ramen, sold your car and rode a bike. As an alternative, you could find an easy, low paying job that you might enjoy (PE teacher / track coach, work at a gym, etc.) and maintain a moderate standard of living in a low COLA area and coast for the rest of your life. I know a lot of people who retired young from teaching that work at golf courses that do just that.

- Healthcare.

- Emergencies.

- All other expenses.

You can only afford 2 of the 3.

You sound like you're describing me - very similar net worth and a desire to retire young. It would help to know how old you are or what your cost of living is. The general rule is to be able to live on 4% of your net worth, so $22k/year. Maybe if you're extremely frugal, have no desire to increase your lifestyle, and would be able to cover healthcare on this... but I wouldn't. I'm extremely frugal, but I would want enough of a safety factor in there. There's not much of one there currently. What you could do is find a job where you can work 24-30 hours/week (enough for benefits), and that way you wouldn't have to worry about healthcare and could probably still contribute some to retirement/build net worth (basically, "barista FIRE")

If you are single, why is your concern to retire? You should be asking the question "How do I find a wife/husband. How do I start a family".

I know a couple of my peers who have adopted this mentality, trying to get to retirement as quickly as possible. I get it, work sucks, but you should not forgo pursuing things during such a significant portion of your life (your working years) in lieu of an early retirement.

You will get to retirement at age 50 or 55 or whatever and have nothing of meaning in your life.

You can ride our your remaining, sad and lonely years, physically a shadow of your younger self, mentally declining and probably very bored. You can tell yourself you will pursue the things you love in life, art, sport, literature, whatever, but in reality, you will probably just waste your time on internet forums like you currently do.

Stop living your life for the future. It is happening right now and it is too short to ignore.

Exactly this.

What you haven't done between 25 and 50 you will most likely not do in your retirement.

So the meaning of life for everyone is to procreate? You realize there are 7 billion people on earth and a global warming crisis, right? Old fool.

Why? That doesn't really sound like retirement as much as living a very frugal life. Is your job that bad that DG would be better? Why not just find a job that you like better than the one you have now?

To answer your original question, I also don't think you have enough to retire.

To have a family is the meaning of "life", certainly that of sexually reproducing life, which is the category we fall into. Old fool, lol. I am still in my 20s but I am married, have two children, a great job and a great life. Bitter, resentful people who were probably abused as children hate life. They do not want to create it because they view it as inherently a bad thing.

That's you. Congratulation.

Yeah, I'm 38. I wouldn't mind being a PE teacher / track coach, but the major drawback is that I can't leave whenever I want with almost zero consequences, and I like having the peace of mind and freedom to do so even if I never take advantage of it.

If I'm a WalMart greeter or burger flipper, for example, nothing notable would really happen if I decide to quit in the middle of my shift because I'm not in the mood. But if I were to do that as a track coach the day before a meet, a lot of kids would be impacted, and I'd feel terrible even if I didn't need the money.

In "The Study of Suicide" by Emile Durkheim, his primary conclusion was that the more socially integrated and connected a person is, the less likely he or she is to commit suicide. A lot of people today think the way you do. That their true happiness and freedom will only be possible in the can, as you say, "leave whenever they want with almost zero consequences".

While I understand it can be a little counter-intuitive, you will have a better life if you do the opposite. If you are relied upon by people that you care for, you will have more meaning, purpose, and ultimately desire for life. The best years of your life are those where you are an essential component to some person(s) or community(s).

And I'm perfectly fine with that. I've had plenty of fun from age 25 until now. I set PRs, been to a dozen or so states, and crossed a lot of stuff off my bucket list like skydiving and seeing the northern lights. I ride motorcycles, paint landscapes, write programs, visit museums, and play the guitar.

Granted, I'm not good at any of my hobbies aside from running. I can't ski most black diamond slopes, and a grandmaster could give me a rook handicap and still beat me in chess. But they still bring me joy and fulfillment, and I'm looking forward to doing more of that in retirement.

Imagine being blinded so much by your own values that you think other's should live just like you. You think a nun or a monk that lives a life of solidarity and spirituality should share your values otherwise their life is otherwise meaningless?

You know what I value? My time with my wife and the joys and freedom we can share together without being financially and emotionally tied down by kids. I value being able to retire a decade earlier than someone with 3 kids. I value being able to learn more skills and participate in more hobbies to better myself with the extra time I have. I am very happy.

Judging by how you think of others you know nothing about, maybe we need a welfare check on your own kids. You don't seem like a well tempered individual.

I put forward what I believe to be the good path in life (have a family) and you interpret that as

"being blinded so much by your own values that you think other's should live just like you"

and then you proceed to tell us all about how you think people should live.

You didn't want to be "emotionally tied down" by kids. What a weird way of saying caring about someone else. You want to talk about an anti-social person, you should take a look in the mirror.

I'm sure all your extra time has made you a true talent at those skills and hobbies you enjoy. I got to watch my son say his first words last week but yes, I think you have it all figured out.