Author Topic: At what age you are FIRE'd / planning to FIRE and when did you hear about FIRE?  (Read 1916 times)

myobjectivism

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While going through different topics, got a thought to check the following..

1. At what age did you FIRE'd or planning to FIRE?
2. When did you hear about FIRE and started planning for it?
3. Top 3 goals

About me..

1. I am getting FIRE'd next month at the age of 43.
2. Heard about FIRE few months back (at age of 42) and by then, decision was made to retire early and inform d employer.
3. Spirituality, Health, Family (this includes time with them, travel plans with them)

Nice to see people at different ages (earliest I noticed is early 30s) getting FIRE'd with different goals. Based on when we are planning to retire, I feel immediate goals keep changing.

2Birds1Stone

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FIRE'd at 32
Discovered the early retirement community in 2012 at 25
Started planning and getting serious in 2014 at 27

Rdy2Fire

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FIRE'd 47
Didn't hear about FIRE (movement) til about 2 years ago but had an idea or dream goal of age 50 being semi-retired
Goals stay healthy, travel, enjoy life but find something to occupy more time

Financial.Velociraptor

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I retired at 40.  I was 43 when I heard of FIRE movement (I started a blog and in my research on how to do that I stumbled across FIRE bloggerverse).  Was delighted to learn I wasn't alone.  Goals?  Stay retired.  Lose weight. 

bmjohnson35

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1. Recently at age 50
2. Discovered FiRE movement around 47, but had been saving my entire adult life.
3. Health, Family/Friends and increasing our social circle

Mr. Green

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1. FIRE @ 33 (2017)
2. Found ER community online @ 31 (2014)
3. Happiness, Health, No Regrets

Dicey

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I didn't FIRE until I was 54, but I was aiming for "it" for decades because...
I had cancer at 21-22 and knew I didn't want to be a work-until-65 drone...
I was striving for Early Retirement long before @2Birds1Stone and @Mr. Green were born...
I was waiting to pull the plug until 2014 when the ACA kicked in, because I was not affordably insurable otherwise...

Incredibly, I married a great guy in 2012. He loves his job and happens to have amazing healthcare, so I pulled the plug three weeks after we eloped and never looked back.

It helped that my dad retired at 50, so I knew it could be done. The difference was that my "Pops" was a retired federal employee, so he had kick-ass health insurance for the rest of his life. He lived 35+ years after retirement, rest his dearly missed soul.

chevy1956

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1. I'm 46 and looking to retire late this year.
2. We started this path about 7 years ago. We have always been relatively frugal.
3. I don't have any goals. Maybe play more guitar and read more books.

Bettersafe

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1.hoping to FIRE at 59 cause the kids will probably financially self depend by that time and the mortgage will be gone hopefully. Depending on DH career it might be sooner.
2. Found MMM at the beginning of this year. Due to some very harsh work-conditions I went online to see how I could retire early
3. After FIRE my goals would be gardening, traveling, giving back to community somehow.
« Last Edit: May 13, 2020, 05:40:06 AM by Bettersafe »

Chris@TTL

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Quote
1. At what age did you FIRE'd or planning to FIRE?
This month! 35. I left the 9-5 at about 28, following business pursuits but just this month my other half's plans met up with mine and...we're out!
Quote
2. When did you hear about FIRE and started planning for it?
In general, I started reading GetRichSlowly.org in 2006 just after undergrad. I followed up in 2007-08 by investing all my money in individual stocks and losing most of it. An expensive lesson.
Quote
3. Top 3 goals
  • Redefine our relationship to reflect us rather than our careers
  • We've been fortunate to travel abroad a good bit already, but haven't had enough time to steep in a culture, I'd like to see that change
  • I don't see us kicking the bucket with only a nickel to spare, and it's a goal to see the remnants offer meaning/value for those after us
FIRE offers a tremendous opportunity to clarify some of those existential questions offered up in those goals.
« Last Edit: May 12, 2020, 12:58:24 PM by Chris@TTL »

LifePhaseTwo

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1. FIRE’d at 54.
2. I read about FIRE a few years before that. Had always been a saver, living below my means. Could have FIRE’d sooner, but was ambivalent about my golden handcuffs...
3. More time with grandkids, more (and better) sleep, more freedom. Doing well on all 3 of these goals.

Linea_Norway

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1. At what age did you FIRE'd or planning to FIRE?
2. When did you hear about FIRE and started planning for it?
3. Top 3 goals

1) Me at 46 and DH 49. We are FIREd since Jan 2020.
2) Maybe 12 years ago we noticed we saved a shitload of money each year by living our normal lifestyle. Then we discussed the option to retire at the age of 50, only we didn't have a clue on how much money we needed to do that. Then we forgot about it and about 5,5 years ago we spent all our savings on a clown house. Half a year later I searched on early retirement and discovered this site. Some time later I made my own excel retirement sheet and found a number. We made a plan to sell the house some years later, when we had saved up the rest of our number.
3) Being able to be in the right place at the right time and do the stuff that I want to do. Not spending all my time in an office doing work I don't really enjoy, sitting in a noisy open office, having to be in pointless meetings. Being able to go on many more and longer trips (hiking, skiing etc).

LWYRUP

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1.  I hope to be financially independent between 40 and 45.  I am 35.  (I could accelerate that with lifestyle changes such as moving if needed but that's not currently the plan.)
2.  I found MMM in late 2012 / early 2013.  I remember reading bogleheads in late college (2005) so savings was on my mind early.
3.  Spend time running a small business (possibly as simple as me consulting part time) and investing in real estate.  Get in fantastic shape.  Spend lots of time with friends, family, cooking, reading, hobbies. 

Basically same as now just with no mandatory meetings, no boss and an ability to just turn down crap I don't want to deal with and no expectation I'm going to be sitting in a chair 40-50 hours a week.

I may leave my job before FI since my plan involves generating income anyways but want to hit a few more financial and professional goals first. 

Edit:  Whoops, did not see this was in the post-FIRE forum.
« Last Edit: May 12, 2020, 04:59:06 PM by LWYRUP »

spartana

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  • FIREd at 36? Or maybe it was 42?
Planned to FIRE at 38. Instead quit my job at 36. Went back to work after 2 years off (same job/employer asked me to come back). Worked approx 4 years then quit again at 42 and haven't worked since. Was a lower income enlisted military and then a blue collar government employee so no big income. I heard about the concept of FIRE after I quit my job to be a beach volleyball bum (amongst other bum-things ;-)) but knew since I was very young (like 8) that I didn't want a conventional lifestyle with a 9 to 5 kind of job. So set myself up to have some security (paid off house, smallish stash, low expenses, etc) so I could pursue other interests without worry. So far so good.

I think the earliest person to FIRE here was @arebelspy at 29. He and his wife were school teachers who invested in real estate.
« Last Edit: May 12, 2020, 05:02:11 PM by spartana »

herbgeek

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I retired last year at 58.  I've been planning for retirement since about age 25 or so, long long before any FIRE movement.  Well, there was Your Money or Your Life, which was instrumental to me.  I had originally planned to retire by 55, but was delayed by layoffs a few times and the stock bust of 2008.  I think we could have done it sooner, but hubby is incredibly pessimistic and a worst case kind of guy.  The thing that really made it possible was a low cost ACA health insurance plan.

My goals are to continue to explore:  new ideas, new physical locations, new connections.  The physical location part is sort of on hold for the foreseeable future, and the new connections are somewhat limited, but eventually I'll get there.

myobjectivism

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Wow.. nice to read all your experiences, goals you set. Lot of learning for me few days before retiring and definitely will adjust my goals based on my learning.

I think it takes more time for me to decompress from work related things. Will go as per the flow and prioritise my goals.

Car Jack

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1: 64 or 65.  Real answer is "when my wife says I can".  (I'm 63)

2: 3 or 4 years ago, reading the MMM site.

3:  I'll be in what I think y'all call fat fire, maybe.  Although I plan to get random jobs doing whatever the hell I want to do, so there's going to be more income.  And my wife just got a full time job, so that money will help.  I'm a very big "safety net" guy, so I'm nearly set to withdraw 2%, ignoring social security and a small pension.  I'm also a big car guy, so I see a very NON Mustachian car in my future.  I do want to exercise more and do stuff outside more.

stoaX

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I was FI at age 56 and retired early last July at age 58.

I first started thinking about early retirement in 2009 or so and came across MMM in late 2011.

My "goals" include caring for aging family members, playing hockey, hiking, and reading a lot more than I could when I was employed. Finally I expect to do some volunteer work that has some relation to the aforementioned activities.

sui generis

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1. FIREd at 41 (2018)

2. Discovered FIRE community in 2017, but had been frugal all my life.  Never knew what I was supposed to do with all my extra money I was saving and people told me I was crazy to hope to retire "early" at 55....so I thought I was being ambitious already.  Once I discovered the FIRE movement and got "permission" to be more ambitious, I was like, "Ok, so I guess I can pretty much retire any time?"  So I did.

3. Do everything slower, no more rushing; do lots of very different things for fewer hours per week so I don't get sick of them and want to stop altogether (I think 7-12 hours per week for any one "thing" is my ideal); travel (this goal is...changing recently)

goat_music_generator

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1. Our plan was to be FIREd at 29. After coronavirus -- less clear, but almost certainly by 32. Depends on our job situation.
2. I found MMM's blog when I was 20. Fortunately, when I told my then-boyfriend-now-husband about it, he got completely on board and we haven't looked back since.
3. Have as good a time at work as possible in the time we have left to do it; have our first kid in the next year or so; stay connected with friends and family.

lhamo

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Read Your Money or Your Life in December 1997 while writing my dissertation (age 29) -- caught the FIRE bug and never looked back.

Graduated/started first professional job in September 1999 (age 30, barely -- my birthday is later in the Fall). 

Bought NYC apartment summer 2000 (age 31)

Had DS spring 2001.  (age 32)

Moved to China for work February 2002.  (age 33)

Sold NYC apartment for more than 2x what we paid for it spring 2003. (age 34)

Had DD early 2005. (age 36)

Quit Horrible Soul Sucking Job/moved cities/started fellowship spring 2007.  (age 38)

Started new not-soul sucking job early 2008. (age 39)

Bought fancy condo spring 2009. (age 40)

FIREd and returned to the US June 2015.  (age 46)

Sold fancy condo for roughly 3x what we paid early 2017 -- FIRE status locked in even after buying fancy US house. (age 48)

« Last Edit: May 16, 2020, 07:39:31 PM by lhamo »

travel2020

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1. In the next 2-3 years. The current coronavirus situation is a bit of an unknown as a portion of NW is tied to a small business that we were planning to sell before FIRE.

2. Probably 6-7 years ago but never really explicitly started planning. We just live below our means, save & invest the rest, and that’s about it.

3. Travel the world and live in a few different places, stay healthy, hobbies and giving back

Gardo

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First of all, how do you define FIRE?

For me, FIRE is:

- set with my kids (no more additions and youngest past 10 years old)
- set with my house (no debt)
- set on savings to pay for expenses until ss/401K kicks in

To me that will be mid-2026, or in my early 50s.

So yes, I am going to start my sex, I mean, six year countdown starting next month. 

So the calculation of cumulative non-retirement savings is:

2020 Year End Target:  $185K  (age 48)
2021 Year End Target:  $230K  (age 49)
2022 Year End Target:  $285K  (age 50)
2023 Year End Target:  $350K  (age 51)
2024 Year End Target:  $420K  (age 52)
2025 Year End Target:  $500K  (age 53, youngest child is 10 years old, house is fully paid)

Plan A.  USA

To me, the target of  about $525K by mid-2026 at age 53 (still) is good enough for me to FIRE. From that amount, I could live off at $35K for 14 years until age 67 when SS/401K kicks in.


Plan B.  Asia

As an alternative, I can relocate in Asia mid-2026 with my youngest kid.  I would need to work for 5 years there for a simple job that pays for part of my expenses.  The other part is taking out  $10K per year for 5 years.  At night, I would do stock trading since it is daytime here in US. No conflict with work schedule there. 

2026 Year End Target:  $555K (age 54)
2027 Year End Target:  $620K (age 55)
2028 Year End Target:  $700K (age 56)
2029 Year End Target:  $785K (age 57)
2030 Year End Target:  $880K (age 58)

From 2031 onwards, I can retire and increase my COL budget to $30K per year with savings still growing each year.

2031 Year End Target:  $970K  (age 59)
2032 Year End Target:  $1,070K (millionaire at age 60)
2033 Year End Target:  $1,190K (from here on in retirement baby!  just enjoying life and spending on stuff)
2034 Year End Target:  $1,300K
2035 Year End Target:  $1,400K
 
« Last Edit: May 22, 2020, 09:57:09 AM by Gardo »

matchewed

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Planning to FIRE around 41ish.

Heard about it probably 2008-2009, didn't take much stock in it until a year later or so.

Give more of my time/resources to making my community better, keep decoupling from some negative systems in our culture, maybe start a business?, I'll add a fourth one - train an awesome pupper.

Body Surfer

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Retired age 59 last week.

Started reading MMM 2 years ago.

We love mtn biking and trail running among other activities (body surfing).

Looking forward to the new life

Jack0Life

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First of all, how do you define FIRE?

For me, FIRE is:

- set with my kids (no more additions and youngest past 10 years old)
- set with my house (no debt)
- set on savings to pay for expenses until ss/401K kicks in

To me that will be mid-2026, or in my early 50s.

So yes, I am going to start my sex, I mean, six year countdown starting next month. 

So the calculation of cumulative non-retirement savings is:

2020 Year End Target:  $185K  (age 48)
2021 Year End Target:  $230K  (age 49)
2022 Year End Target:  $285K  (age 50)
2023 Year End Target:  $350K  (age 51)
2024 Year End Target:  $420K  (age 52)
2025 Year End Target:  $500K  (age 53, youngest child is 10 years old, house is fully paid)

Plan A.  USA

To me, the target of  about $525K by mid-2026 at age 53 (still) is good enough for me to FIRE. From that amount, I could live off at $35K for 14 years until age 67 when SS/401K kicks in.


Plan B.  Asia

As an alternative, I can relocate in Asia mid-2026 with my youngest kid.  I would need to work for 5 years there for a simple job that pays for part of my expenses.  The other part is taking out  $10K per year for 5 years.  At night, I would do stock trading since it is daytime here in US. No conflict with work schedule there. 

2026 Year End Target:  $555K (age 54)
2027 Year End Target:  $620K (age 55)
2028 Year End Target:  $700K (age 56)
2029 Year End Target:  $785K (age 57)
2030 Year End Target:  $880K (age 58)

From 2031 onwards, I can retire and increase my COL budget to $30K per year with savings still growing each year.

2031 Year End Target:  $970K  (age 59)
2032 Year End Target:  $1,070K (millionaire at age 60)
2033 Year End Target:  $1,190K (from here on in retirement baby!  just enjoying life and spending on stuff)
2034 Year End Target:  $1,300K
2035 Year End Target:  $1,400K

Curious as to why plan B is so radically differ from plan A.
Plan A is coasting until you reach 67.
Plan B is moving to Asia but still working and build you savings to an extraordinary amount.
Like 2 totally different mindset. Seems to me if you're going to move to Asia, you certainly can live on a lot less and still coast to 67 and still have savings left until 67.

SwordGuy

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1. FIRED at 60.   Thought I would have to work until I dropped.
2. Heard about it at age 55.   It was a revelation.
3. Make sure our mentally disabled daughter is provided for after we're gone, make sure we're provided for while we're still here, have fun and do some good in the world.

br89

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1. Planning to FIRE whenever I have kids. So 33ish hopefully? I'm 30 now and could probably FIRE within the next two years or so

2. 24 - while googling how to escape Biglaw LOL

3. I probably won't retire in the traditional sense (I'm pretty entrepreneurial), but I want to be able to spend as much time with my friends and family as possible, travel, take care of my health (no more all-nighters!), and spend more time, money, and energy giving back to society and helping others. Basically, I want to do whatever I want haha

former player

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Retired aged 50 10 years ago, on the back of always spending less than I earned, investing in property and getting a deal from my employer to go away and stop being an annoying (elected, unpaid) union rep.
Heard about FIRE 6 years ago (when I joined this forum, wow).
Moved from the big city to the rural seaside: got a dog, got involved in local politics, did several years of caring for my elderlies.  Now still got a (nother) dog, still involved in local politics, making a garden, seeing friends (at a social distance) and spending too long on the internet.


LWYRUP

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1. Planning to FIRE whenever I have kids. So 33ish hopefully? I'm 30 now and could probably FIRE within the next two years or so

2. 24 - while googling how to escape Biglaw LOL

3. I probably won't retire in the traditional sense (I'm pretty entrepreneurial), but I want to be able to spend as much time with my friends and family as possible, travel, take care of my health (no more all-nighters!), and spend more time, money, and energy giving back to society and helping others. Basically, I want to do whatever I want haha

I am a biglaw refugee.  We should start a support group, lol. 

Freedomin5

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1. Planning to FIRE in two years after my contract ends at age 41. Unless I am offered another contract  and decide to renew, in which case I’ll only be FI and not RE.

2. First read about the FIRE movement in 2015 after getting my first real job when I had lots of extra money left over each month.

3. Just one goal: Live well.