Author Topic: How old were you when you decied to go for FIRE?  (Read 18053 times)

Gone Fishing

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How old were you when you decied to go for FIRE?
« on: August 12, 2014, 09:41:00 AM »
I started really thinking about it at 16 or so...

blackomen

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Re: How old were you when you decied to go for FIRE?
« Reply #1 on: August 12, 2014, 09:43:12 AM »
When I was still in grad school and before my 1st job when I read Rich Dad, Poor Dad..  although many would not agree with Robert Kiyosaki's approach, the basic idea he taught is timeless and universal: save more than you spend and invest what you save (but how he deals with the "invest" part is a bit controversial.)

NumberCruncher

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Re: How old were you when you decied to go for FIRE?
« Reply #2 on: August 12, 2014, 09:50:31 AM »
Either 22 or 23.

pdxvandal

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Re: How old were you when you decied to go for FIRE?
« Reply #3 on: August 12, 2014, 09:55:26 AM »
About 37, two years ago. Although I had always been frugal and able to save/invest a good chunk of $$ the past 15 years. Of course, hindsight is 20/20, and I would have put even more into my 401k the past 6 years than I did. Oh well.

CowboyAndIndian

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Re: How old were you when you decied to go for FIRE?
« Reply #4 on: August 12, 2014, 10:20:31 AM »
Damn, I must be a major slacker.

Started thinking of it when I was 40. Was a good saver, but was not very frugal (I still am not ...).
Unfortunately, there was no MMM around when I started thinking about it and everyone laughed when I said my goal was to FIRE at 50.

Well, I am 55 now and should FIRE in an year (Serious case of OMY)

PeteD01

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Re: How old were you when you decied to go for FIRE?
« Reply #5 on: August 12, 2014, 11:17:46 AM »
50, 14 months ago

KMMK

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Re: How old were you when you decied to go for FIRE?
« Reply #6 on: August 12, 2014, 11:23:16 AM »
A few months into my first real job at 21.

PDX Citizen

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Re: How old were you when you decied to go for FIRE?
« Reply #7 on: August 12, 2014, 11:26:50 AM »
At the age of 30 on a six-month overseas backpacking trip, which I had saved extensively for as "my big trip".  I realized that I wanted to be able to have that freedom as a lifestyle.  Still working towards it, 11 years later, getting close :)

Zikoris

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Re: How old were you when you decied to go for FIRE?
« Reply #8 on: August 12, 2014, 11:31:12 AM »
About three years ago when I was 24 and got back from my first international vacation (England!). Luckily I didn't have any sort of giant debt hole to dig out of or outrageous locked-in expenses, just a mildly consumery lifestyle that was pretty easy to fix.

JoyBlogette

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Re: How old were you when you decied to go for FIRE?
« Reply #9 on: August 12, 2014, 11:41:49 AM »
When we decided to have kids.  Age 29.

MgoSam

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Re: How old were you when you decied to go for FIRE?
« Reply #10 on: August 12, 2014, 01:57:36 PM »
When I was 22, that was also the same time I got out of college and landed a real job. Coincidence? I think not!

Beric01

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Re: How old were you when you decied to go for FIRE?
« Reply #11 on: August 12, 2014, 02:29:39 PM »
When I found out about the term: 3 months ago.

In reality, I always wanted to take semi-retirements, work part time (for myself), and management my own investments from probably ~20. I always wanted to figure out how to build up semi-passive income streams (willing to put in work/time, never looked to get rich quick).

MMM put into works what I was always trying to piece together.
Your story is mine almost to the letter, including the 3 months ago number. FIRE is just the solution to what I've been pondering in my mind for some years.

Roots&Wings

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Re: How old were you when you decied to go for FIRE?
« Reply #12 on: August 12, 2014, 02:40:41 PM »
When I was 30 (discovered MMM/ERE then) and got rid of my financially draining condo so that FIRE could eventually become a reality for me! 

dragoncar

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Re: How old were you when you decied to go for FIRE?
« Reply #13 on: August 12, 2014, 03:17:26 PM »
When I was 3, I think I wanted to be a garbage man.  When I was 4, when adults asked what I wanted to be when I grew up, I'd say "I want to be rich!"  Oh, like a CEO?  "No, just rich."

So I guess since I was 4.

But I've only seriously considered FI since 2008 scared the crap out of me.

Grid

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Re: How old were you when you decided to go for FIRE?
« Reply #14 on: August 12, 2014, 03:22:05 PM »
Just over a year ago - age 24.  Thankful for my especially lazy SIL who discovered MMM herself, converted my brother, and informed me of this blog.  Note my "other" age.  :)

EarlyRetirementGuy

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Re: How old were you when you decied to go for FIRE?
« Reply #15 on: August 12, 2014, 03:55:59 PM »
About 25. I'd always been very good at living cheaply and saving money, but finding MMM and similar sites gave me something to work towards

MsRichLife

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Re: How old were you when you decied to go for FIRE?
« Reply #16 on: August 12, 2014, 05:54:58 PM »
22. I set a goal to be a millionaire by 35 and retired by 40.

trailrated

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Re: How old were you when you decied to go for FIRE?
« Reply #17 on: August 12, 2014, 06:18:18 PM »
25 after I found out I was going to be a dad

pachnik

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Re: How old were you when you decied to go for FIRE?
« Reply #18 on: August 13, 2014, 07:43:43 AM »
I was 48 when I saw this website for the first time.  Obviously i'm too old to retire early but for the last year or so I've been doing the best I can with my money.  Before i came across MMM I didn't think early retirement was possible. 

I hope the word really gets out there about this option - my paraphrase:  don't be a consumerist sucker and retire early.

chasesfish

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Re: How old were you when you decied to go for FIRE?
« Reply #19 on: August 13, 2014, 08:03:36 AM »
23 - an asshole second boss threatened my job for telling the truth.  I said never again will I have to be in that position

Luck12

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Re: How old were you when you decied to go for FIRE?
« Reply #20 on: August 13, 2014, 09:11:18 AM »
I think I was 12.  Kept hearing my Dad complain about BS at work every day.  He worked in a nice office, making good money, with a secure job.  I was thinking this whole job/career thing just can't be that good then.   

Although I think the seed was planted when I first started having to get up early for school so maybe really age 5-6?   


makincaid

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Re: How old were you when you decied to go for FIRE?
« Reply #21 on: August 13, 2014, 09:24:09 AM »
When I was 22 and got my first real job.

I had always been a dollar stretcher though. In my school years, I made the summer job money last all year.

Gone Fishing

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Re: How old were you when you decied to go for FIRE?
« Reply #22 on: August 13, 2014, 09:42:51 AM »
I think I was 12.  Kept hearing my Dad complain about BS at work every day.  He worked in a nice office, making good money, with a secure job.  I was thinking this whole job/career thing just can't be that good then.   

Dad's job wasn't that great, it was certainly what got the ball rolling for me! Even as a kid I couldn't figure out why I would want to sit in a BS classroom just to get a BS job to work for 40 years just in enjoy a BS retirement plauged with health problems.  I still remember the day my dad explained compounding to me, I was about 8, it made instant sense.  My parents were pretty mustachian, not hard core, but still maintained a lot of the depression era frugality my grandparents instilled in them, especially mom. I don't think they really started investing until they were in their mid 30's or so, though.

ketchup

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Re: How old were you when you decied to go for FIRE?
« Reply #23 on: August 13, 2014, 10:03:57 AM »
I had the fairly abstract idea in my head since my teenage years ("It'd be pretty cool to retire early.") and was always fairly frugal, but a lot of saving-to-spend instead of saving-to-save.  Found MMM two years ago at 21.  It all clicked pretty quickly.  Only took reading a few blog posts to know it was possible and slate it as Financial Goal Numero Uno.

JoyBlogette

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Re: How old were you when you decied to go for FIRE?
« Reply #24 on: August 13, 2014, 11:26:12 AM »
22. I set a goal to be a millionaire by 35 and retired by 40.

How are you doing with the goals?

dude

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Re: How old were you when you decied to go for FIRE?
« Reply #25 on: August 13, 2014, 11:43:05 AM »
When I started this job/career @17 years ago, because I'm a LEO with a pension waiting for me at retirement after 22.5 years.  But I also knew that a pension alone (only 34% of base salary) wouldn't cut it, so began saving aggressively into the TSP (401k) right away (sorta; stupid feds had a dumbass policy back when I started that forbid contributing in your first year -- WTF?).

But for a while there, I kind of assumed I was going to have to find another job after this one, if only until I reached 59 1/2.  But finding MMM and other like-minded bloggers helped me to see that FIRE'ing for good at the end of this career was not only possible, but entirely doable, with some lifestyle changes.

Meggslynn

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Re: How old were you when you decied to go for FIRE?
« Reply #26 on: August 13, 2014, 11:44:45 AM »
Probably about 24, didn't really get serious till about 28. I am 31 now.

YoungConsultant

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Re: How old were you when you decied to go for FIRE?
« Reply #27 on: August 13, 2014, 04:45:13 PM »
I'm 23 now, and in high school (lets say 16) I had the vague idea of wanting to be rich enough to have whatever I wanted and not have to work a job my whole life. So I did what I had to do to get good grades, pay for college without debt, and keep my expenses low as an adult.  Reading ER blogs like MMM just gave me more information to make my personal finance "system" that much more efficient.

thedayisbrave

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Re: How old were you when you decied to go for FIRE?
« Reply #28 on: August 13, 2014, 05:21:29 PM »
24, which is my age now.  I've read financial blogs for longer, though... but didn't actually set up goals for it until the past 6 months or so after returning home from abroad.

MsRichLife

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Re: How old were you when you decied to go for FIRE?
« Reply #29 on: August 13, 2014, 05:42:47 PM »
22. I set a goal to be a millionaire by 35 and retired by 40.

How are you doing with the goals?

Happy to say I met the first goal and am on track to achieve the second one in a few years time. It's funny because over the years my attention to those early goals has waned, but because I went so hard at them in my twenties, I was set upon the right track and didn't need too much course correction.

Now that I'm getting closer to 40 and realised that it will be possible to FIRE, I've recommitted to that goal.

cdttmm

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Re: How old were you when you decied to go for FIRE?
« Reply #30 on: August 13, 2014, 05:50:18 PM »
31

Killed off all my debt except the mortgage in 8 months. Made some basic lifestyle changes and did my first round of retirement at 36. I couldn't make it stick, thought, so I'm hanging out in semi-retirement until I'm ready to fully pull the plug. I have enough free time on my hands to allow me to do most of the things I really want to do and the additional cash means I can fund some non-essentials.

Ian

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Re: How old were you when you decied to go for FIRE?
« Reply #31 on: August 13, 2014, 10:21:55 PM »
About 26. I don't know if any mods are reading, but could we put a poll on this thread? I'd be curious what the forum demographics on this question are.

expatartist

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Re: How old were you when you decied to go for FIRE?
« Reply #32 on: August 13, 2014, 10:38:33 PM »
38: last year when I first ran into MMM.

Pave

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Re: How old were you when you decied to go for FIRE?
« Reply #33 on: August 13, 2014, 11:51:44 PM »
At 26. I remember having lunch and beer in a small restaurant in Cobacabana, Bolivia. Enjoyed the place and made a quick calculation in my head: if I could save 30.000 euros, that would allow me to live there for the rest of my life :)
Following two summer holidays I spent backbacking in South East Asia where I convinced myself that 30 euros/day is all I need to lead a nice life.

Fast forward about 10 years and now my expectations have moved "a bit" higher. Anyhow, the idea of FIRE stuck and will happen next year.

Runge

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Re: How old were you when you decied to go for FIRE?
« Reply #34 on: August 14, 2014, 08:47:37 AM »
Would be interesting to see this in Poll form.

24 for me. A year after I started working and discovered MMM. My goal FIRE date is when I turn 40.

MandyM

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Re: How old were you when you decied to go for FIRE?
« Reply #35 on: August 14, 2014, 09:10:51 AM »
27 or 28 for me. I've always been a natural saver but when I happen to read an article about ERE it all clicked. At that point I figured that I could RE in my mid-forties. Now I'm 35 and after discovering MMM I've trimmed it down to 37 or so.

Would be interesting to see this in Poll form.

Side rant: there are SO MANY threads that would benefit from a poll.

bearkat

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Re: How old were you when you decied to go for FIRE?
« Reply #36 on: August 14, 2014, 04:24:19 PM »
23. After a year on the job and right before getting married.

biotechgirl

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Re: How old were you when you decied to go for FIRE?
« Reply #37 on: August 14, 2014, 04:52:46 PM »
At age 18, my current age. I found MMM after researching stories of people living on lower than average amounts. It's exciting to know that I won't have to work my entire life.

Grid

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Re: How old were you when you decied to go for FIRE?
« Reply #38 on: August 14, 2014, 09:59:47 PM »
27 or 28 for me. I've always been a natural saver but when I happen to read an article about ERE it all clicked. At that point I figured that I could RE in my mid-forties. Now I'm 35 and after discovering MMM I've trimmed it down to 37 or so.

Would be interesting to see this in Poll form.

Side rant: there are SO MANY threads that would benefit from a poll.

I've started a couple polls, and the problem with them is that they will sink down if there are no comments.  Someone has to feel that they want to reply to the actual post in order for the poll to gather enough data - a vote doesn't count as a bump :/.  Which is fine.  No biggie.  I ain't complainin' or nuffin'.  *Sniffles*

BlueHouse

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Re: How old were you when you decied to go for FIRE?
« Reply #39 on: August 14, 2014, 10:23:23 PM »
Age 46.

 My goal then (a few months ago) was simply to retire "ever". I now know I can not only retire before death, I can even do it before "normal" retirement age. I've been told I could do it now if I committed to more change, but those changes will take me some time.

Dicey

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Re: How old were you when you decied to go for FIRE?
« Reply #40 on: August 14, 2014, 11:26:08 PM »
At 21-22, when I had cancer. Resolved not to die with regrets. Happy to say I'm still here :-)).

FI took a lot longer, as there was no MMM, ERE or GRS then. I also had to keep working to have healthcare coverage. FInally made it at age 54. So worth it, so happy to be here.

voxpopular

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Re: How old were you when you decied to go for FIRE?
« Reply #41 on: August 15, 2014, 09:23:38 AM »
I found MMM around the start of this year, shortly before I turned 23, but the foundations were laid long ago.

I'm one of four children, and my parents always emphasized budgeting and talked openly about the balancing act between things like sending us all to Catholic school (their priority, not mine) and their occasional unemployment or falling back on freelance work. We dealt with money being tight sometimes but we always enjoyed a solidly middle-class lifestyle, including our share of car-clowning. It still got me wondering when they'll be able to retire, and I spent most of high school and college watching the recession and the long slow recovery.

Other positive influences: A friend in high school who introduced me to the bus system, a group of friends who focused on just hanging out rather than going out and spending money, and my longstanding attraction to thrift stores -- albeit to collect lots of music and electronics I've spent the past year downsizing!

arebelspy

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Re: How old were you when you decied to go for FIRE?
« Reply #42 on: August 31, 2014, 01:18:01 PM »
It's interesting to me that so many of you can pinpoint it so precisely.  I have no idea.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

StartingEarly

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Re: How old were you when you decied to go for FIRE?
« Reply #43 on: August 31, 2014, 01:30:43 PM »
I was 22 or 23.  Just getting my foot in the door.  Been saving for about two years and think I'm getting a good handle on it.

Malaysia41

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Re: How old were you when you decied to go for FIRE?
« Reply #44 on: August 31, 2014, 01:57:20 PM »
Briefly I considered retirement plans in my first year of engineering job in Silicon Valley in 1996.  I was 23. A group of us newbies were in boot camp training.  The subject of retirement came up in the car on the way to lunch (retro-active face-punch).  We came to the conclusion that in theory, it would take $1M invested to retire.  At that point the stock market was on its way up up up, so putting together a $1M stach seemed very doable within a few years. 

While our assumptions were faulty (we assumed 10% withdrawal rate), the answer was largely right ($1M).  The next time I seriously considered retirement was last December - but I've moved that story over to my journal entry in the MMM journals forum.

« Last Edit: August 31, 2014, 05:38:05 PM by Malaysia41 »

former player

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Re: How old were you when you decied to go for FIRE?
« Reply #45 on: August 31, 2014, 01:58:09 PM »
50.  I had expected to go on until about 60, but got offered a redundancy package that would make me FI and was gone in 3 months.

urover

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Re: How old were you when you decied to go for FIRE?
« Reply #46 on: September 01, 2014, 02:17:54 AM »
Ever since I've been 24. Will be 29 in couple days. Started with a whole lot of CC debt and had to save like mad to pay it off before the end of the 6mo. interest-free period.

nottoolatetostart

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Re: How old were you when you decied to go for FIRE?
« Reply #47 on: September 01, 2014, 03:19:15 AM »
I think I was officially 33 (35 now).

However, the first summer after graduating from undergrad that I was working in an office....I remember the dread, sadness, thinking "is this where I'll be for the next 40 years of my life?" I felt like a caged rat, with no escape. I think summer was hard because while I had office internships in previous summers, this was the first time it felt like there was no end. This was my life.

Luckily, I work from home, because not sure what I'd do if I had to sit in an office all day.

MrMathMustache

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Re: How old were you when you decied to go for FIRE?
« Reply #48 on: September 01, 2014, 03:22:42 AM »
28.  Once I became a homeowner in 2006, I created excel sheets for my income statement and a monthly balance sheet, and have tracked everything closely since then.  The real estate swoon and financial crisis only served to motivate me even more towards FI.

Squirrel away

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Re: How old were you when you decied to go for FIRE?
« Reply #49 on: September 01, 2014, 03:30:54 AM »
It was only last year I think, so I was 37.