Author Topic: A new FIRE convert  (Read 3288 times)

Daisy

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A new FIRE convert
« on: January 25, 2018, 10:50:52 AM »
My sister is taking this month off in between jobs and moving, and she just sent me this text message: "I could get used to this lifestyle". This is after meeting me for cheap happy hour sushi like at 4pm the other day after my chiropractic appointment and she was lamenting how people hardly have time to meet up with her for even a lunch before she moves out of town because they are so busy at work. She said she understands now why I was complaining about that earlier.

So I just told her to read the MMM blog, as I have done many times in the past and she hasn't, but I think this time she's really excited about it.

Yes! Another convert.

Linda_Norway

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Re: A new FIRE convert
« Reply #1 on: January 26, 2018, 05:46:56 AM »
It is nice to see that a person you care about is seeing what we think is the light.

Many others see their relatives struggle, often by their bad decisions. It's much better to have the same mindset and the same joy about making the smart decisions in life.

lhamo

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Re: A new FIRE convert
« Reply #2 on: January 26, 2018, 08:54:35 PM »
My sister lurks here, too.  We figured out a couple months ago that she only has to work until next Jan 2 to be able to tap into her retirement accounts penalty free (she'll turn 55 in 2019).  Things are kind of rocky at work for her right now with some high level management changes, so we're doing the countdown.   Really she'd be fine even if she left before that(she sold her house for a profit last year, and will be getting a nice amount from my mom's estate this year), but the extra cushion/flexibility of penalty free withdrawals gives her more peace of mind.  I can't wait for her to FIRE, though!  We used to travel together before I got married and I hope we can do that again soon.

Daisy

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Re: A new FIRE convert
« Reply #3 on: January 26, 2018, 10:04:34 PM »
She's not on the forums yet. Baby steps.

Livingthedream55

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Re: A new FIRE convert
« Reply #4 on: February 08, 2018, 08:34:51 AM »
My sister (one year younger than me) - not on these boards - just maxed out her 401k savings - and she said I inspired her!  : 0 )

Plina

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Re: A new FIRE convert
« Reply #5 on: February 17, 2018, 01:18:38 AM »
Funny enough, my aunt asked me yesterday if I was on track for FIRE. I talked about my sabbatical and she asked me how I would finance it and I told through savings. Out of the blue she asked about retirement and I joked that I have more than 30 years where she added that there were a lot of young people that were planning an early retirement with 250 000 euros in Finland. I added that I had counted that you needed at least 700 000 euros. If is interesting to see more and more fire talk in the national media here in Sweden. It makes people think more about what they want in life.

Linda_Norway

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Re: A new FIRE convert
« Reply #6 on: February 28, 2018, 06:45:34 AM »
Funny enough, my aunt asked me yesterday if I was on track for FIRE. I talked about my sabbatical and she asked me how I would finance it and I told through savings. Out of the blue she asked about retirement and I joked that I have more than 30 years where she added that there were a lot of young people that were planning an early retirement with 250 000 euros in Finland. I added that I had counted that you needed at least 700 000 euros. If is interesting to see more and more fire talk in the national media here in Sweden. It makes people think more about what they want in life.

That is interesting. Norwegian prices are probably the highest in Scandinavia, but I really can't understand that anyone in Finland or Sweden would be able to FIRE at a young age having only 250.000 euro's. I remember to have read a newspaper article about a young family in Sweden that retired with approx 450.000 - 500.000 euro's. That sounded also a bit low to my taste. The Norwegian paper had also an article about an early retiree last week, but it was behind the pay-prescription which I don't have.

We (age 44 + 47 in Norway) are saving to have 650.000-ish euro's + a mortgage free house to cover the 20+ years up to when our pensions will start paying out. We have counted with a spending budget of 50.000 euros a year, while we are currently spending 28.000 in a frugal year.

LessIsLess

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Re: A new FIRE convert
« Reply #7 on: March 08, 2018, 07:52:42 AM »
That is interesting. Norwegian prices are probably the highest in Scandinavia, but I really can't understand that anyone in Finland or Sweden would be able to FIRE at a young age having only 250.000 euro's. I remember to have read a newspaper article about a young family in Sweden that retired with approx 450.000 - 500.000 euro's. That sounded also a bit low to my taste. The Norwegian paper had also an article about an early retiree last week, but it was behind the pay-prescription which I don't have.

Sometimes in order to achieve a dream, whether it's FI or something else, one would have to relocate.  For 500k euro (650k USD) there are many places in the world where that's more than enough.

Plina

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Re: A new FIRE convert
« Reply #8 on: March 25, 2018, 07:46:11 AM »
Funny enough, my aunt asked me yesterday if I was on track for FIRE. I talked about my sabbatical and she asked me how I would finance it and I told through savings. Out of the blue she asked about retirement and I joked that I have more than 30 years where she added that there were a lot of young people that were planning an early retirement with 250 000 euros in Finland. I added that I had counted that you needed at least 700 000 euros. If is interesting to see more and more fire talk in the national media here in Sweden. It makes people think more about what they want in life.

That is interesting. Norwegian prices are probably the highest in Scandinavia, but I really can't understand that anyone in Finland or Sweden would be able to FIRE at a young age having only 250.000 euro's. I remember to have read a newspaper article about a young family in Sweden that retired with approx 450.000 - 500.000 euro's. That sounded also a bit low to my taste. The Norwegian paper had also an article about an early retiree last week, but it was behind the pay-prescription which I don't have.

We (age 44 + 47 in Norway) are saving to have 650.000-ish euro's + a mortgage free house to cover the 20+ years up to when our pensions will start paying out. We have counted with a spending budget of 50.000 euros a year, while we are currently spending 28.000 in a frugal year.

I guess it would be achiavable if you lived on a student budget in an apartment with a paidoff mortgage. Honestly It doesn’t sound fun or achiavable long term at least in Finland or Sweden. 500 000 euros would be achiavable for one person if you count with a spending budget of 25000 euros. If you have kids you can add the benefits to the budget but it would require a life style that is somewhat limited. I spend about 25 000 euros as singel but I could decrease somewhat my spending if I wished to.