Author Topic: New Forum For People Who Are Financially Independent!  (Read 21046 times)

Car Jack

  • Bristles
  • ***
  • Posts: 474
Re: New Forum For People Who Are Financially Independent!
« Reply #50 on: March 28, 2017, 09:08:33 AM »
-How old were you when you became FI?
I'm not sure.  I separate FI from retiring.  I have not retired.

-Was this carefully planned or happened suddenly (inheritance/job payout)?
It just sort of sunk into my head that if I stopped working today, I would be able to continue on as I do right now.

-What was the biggest surprise you didn't expect after FI?
I guess there haven't been any big surprises since I do nothing differently.

-What was the most difficult adjustment?
There have been no adjustments.

-Do you tell people you are FI?  Why or why not?
Nope.  Nobody asks and I have no reason to tell them.

-Did your social life/friends change after FI?  How?
Nope.  My friends are the last people I would tell.  Most of them have kids finishing college, yet they have 3 mortgages and $7 to their name.  Not gonna tell them that I paid off the mortgage 15 years ago and have 2 commas in investment accounts (and there are no "1's" in those 7 figures).

I think people assume FIRE.  But just because someone has become financially independent does not mean that they have to quit their job and go off and build houses for fun.  To quit my job would inflict a lot of stress on those around me.  My wife, who when questioned does not believe that if we had 100 Billion dollars, we'd have enough to stop working (yes, I asked her a million, 10 million, 100 million, a billion....).  Mostly because we have one son in college ($65k a year) and another in private high school ($8.5k a year) so how could we possibly stop working?  Hard core blue collar working class background and both she and I paid our own ways through college.

I will likely stop working in another 2 to 3 years.  Hopefully, at that point, we'll have enough to easily pay our way through an actual retirement.  I do plan to work in "fun" or "don't care if I quit or get fired" jobs.

Mmm_Donuts

  • Bristles
  • ***
  • Posts: 321
Re: New Forum For People Who Are Financially Independent!
« Reply #51 on: March 28, 2017, 10:09:33 AM »
-How old were you when you became FI?

43

-Was this carefully planned or happened suddenly (inheritance/job payout)?

A bit of both. DH was laid off and received a severance, but we had been saving and paying down the mortgage for years in preparation for FIRE.

-What was the biggest surprise you didn't expect after FI?

How when so few people believe it is possible, it is sometimes hard to believe it myself.

-What was the most difficult adjustment?

Most of the adjusting has been relatively smooth, except for changes in social scene (see below) and figuring out what we can sensibly spend. We have a variable spending plan in retirement, but it's hard to spend above the baseline when we are in the early years of FIRE and nervous about market volatility.

-Do you tell people you are FI?  Why or why not?

Sometimes it comes up, since DH lost his job and isn't trying too hard to find a new one. People ask if we're worried or stressed, so I have to tell them no, he's retired. I'm not sure if they believe me because they continue to ask. It's just beyond most people's paradigm of reality in a workaholic, spendahlic culture. Or maybe they see us not upgrading our kitchen every 5 years and not travelling to Europe every year and equate that with hardship. Who knows. I am learning to let go of what people do or don't think of the situation.

-Did your social life/friends change after FI?  How?

Yes. We have lost several friends who can't deal with it. Either because they are professionals who define themselves by their work and can't relate to us anymore because we're no longer on that path, or because they are struggling financially and can't relate to us anymore because we are not struggling. It's been sad, I don't like losing friendships, but am doing my best to maintain and strengthen the friendships with those who have stuck around. Ultimately we haven't changed as people, but I can't change how people feel about the situation.

Cache Stash

  • Stubble
  • **
  • Posts: 148
Re: New Forum For People Who Are Financially Independent!
« Reply #52 on: April 25, 2017, 08:56:38 AM »
Newbie here - first post!

Background to understand answers:

I didn't realize I was already FI until I started reading MMM. I calculated my savings rate and 4 of the last 5 years it was > 100%. I knew I was doing OK, but I hadn't run any numbers.  I've now done some spreadsheet work and I've concluded (six ways to Sunday) that I no longer need to work.

My mood has greatly improved to say the least. :)

-How old were you when you became FI?

49 - but didn't realize until 54 - Hahahahahahahaha - what an idiot.

-Was this carefully planned or happened suddenly (inheritance/job payout)?

Pretty sudden, I guess

-What was the biggest surprise you didn't expect after FI?

I'm still working.  This is relatively new.  I haven't decided when to quit.  I have a cup cake job that brings in a good stash of cash. 
 
-What was the most difficult adjustment?

It sound like there may be some adjusting to do, but somehow I have a lot of ideas of things I want to do.  So I'm not sure.  I'll report back when I find out.

-Do you tell people you are FI?  Why or why not?

A few.  Pretty surprising reactions.  You think people would be happy for you but it seems the world is filled with more envious people than I thought.  I'm keeping it to myself from now on.

-Did your social life/friends change after FI?  How?

I'll have to report back on this question.



BlueMR2

  • Handlebar Stache
  • *****
  • Posts: 1836
Re: New Forum For People Who Are Financially Independent!
« Reply #53 on: April 27, 2017, 04:11:15 PM »
-How old were you when you became FI?

42

-Was this carefully planned or happened suddenly (inheritance/job payout)?

Planned.  I've never received an inheritance of any kind.  I'd always been a big saver, but mostly just because I didn't like to buy a lot of stuff.  Then in the last 3 years my wife and I made the big push to slash our spending and see how fast we could get to FI (using numbers that fit our "normal" profile, not the slashed budget one).  Wasn't a lifelong goal or anything.  I'd always presumed I'd work until 65 and then retire and was OK with it.

-What was the biggest surprise you didn't expect after FI?

No surprises so far.

-What was the most difficult adjustment?

No adjustment issues at all as my life really has not changed at all so far.

-Do you tell people you are FI?  Why or why not?

No.  Doesn't seem important.  It was our goal, not other people's...  A few people I know suspect of us being in that status just based on their knowledge of our previous low spending.

-Did your social life/friends change after FI?  How?

No.  Might be FI, but have not added the RE part as the jobs are still going fine for the moment, and the extra buffer is nice.  Doing some extra spending on some stuff we wanted now, which we plan on using for events with friends, while we have the extra income above and beyond what we planned for.  Might RE in another 2-3 years.  Might hold out until 50-55 or so.  We'll see, the flexibility is there and that's the most important thing...  :-)