Author Topic: Planning to Semi-FIRE!!!  (Read 5504 times)

BeginnerStache

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Re: Planning to Semi-FIRE!!!
« Reply #50 on: December 19, 2016, 06:36:45 AM »


Yes, there is a benefit to having a working spouse, but I think a solo person has freedoms in terms of lowering the cost of living that are more difficult (not impossible) to do with a spouse or family.

For the average person, yes.

That's why so many struggle to get their SO aboard.

But if you find the right partner... Wowza.

And along these same lines, many of the people who are FI with a partner would probably not be FI individually. There are so many economies of scale in sharing your life with someone.

I don't know. It's a good thought. I actually enjoyed my little one bedroom apartment as a single guy. Simple, extremely cheap, and loads of free time due to no home maintenance. I could see my savings rate actually increasing if I found myself single again.

Playing with Fire UK

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Re: Planning to Semi-FIRE!!!
« Reply #51 on: December 19, 2016, 07:03:31 AM »


Yes, there is a benefit to having a working spouse, but I think a solo person has freedoms in terms of lowering the cost of living that are more difficult (not impossible) to do with a spouse or family.

For the average person, yes.

That's why so many struggle to get their SO aboard.

But if you find the right partner... Wowza.

And along these same lines, many of the people who are FI with a partner would probably not be FI individually. There are so many economies of scale in sharing your life with someone.

I don't know. It's a good thought. I actually enjoyed my little one bedroom apartment as a single guy. Simple, extremely cheap, and loads of free time due to no home maintenance. I could see my savings rate actually increasing if I found myself single again.

This seems more about the personalities of the people involved rather than strictly single/coupled. I'd imagine there are single people who 'need' a 4-bed for their shoes so wouldn't get the same savings sharing a household.

I'd need to spend a lot on hookers to compensate from separating from my SO. That's got to put a dent in the savings rate!

Koogie

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Re: Planning to Semi-FIRE!!!
« Reply #52 on: December 19, 2016, 07:53:51 AM »
Congrats !!     Come on in, the water's fine ....  lol

Semi-FIRE.  The best of both worlds.
Fermentation is a miracle of nature.
Distillation is a miracle of science.
Better living through Science !

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BeginnerStache

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Re: Planning to Semi-FIRE!!!
« Reply #53 on: December 19, 2016, 12:34:49 PM »
Congrats !!     Come on in, the water's fine ....  lol

Semi-FIRE.  The best of both worlds.

Thanks! Looking forward to it.

Metric Mouse

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Re: Planning to Semi-FIRE!!!
« Reply #54 on: December 21, 2016, 06:18:21 AM »
This seems more about the personalities of the people involved rather than strictly single/coupled. I'd imagine there are single people who 'need' a 4-bed for their shoes so wouldn't get the same savings sharing a household.

I'd need to spend a lot on hookers to compensate from separating from my SO. That's got to put a dent in the savings rate!

In my experience, one can get most of that compensation for the price of a few drinks at the bar.

And it's certainly possible to get all the benefits without the financial entanglements of combining incomes and expenses.
Give me one fine day of plain sailing weather and I can mess up anything.

MustacheMathTM

BeginnerStache

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Re: Planning to Semi-FIRE!!!
« Reply #55 on: December 21, 2016, 06:24:23 AM »
This seems more about the personalities of the people involved rather than strictly single/coupled. I'd imagine there are single people who 'need' a 4-bed for their shoes so wouldn't get the same savings sharing a household.

I'd need to spend a lot on hookers to compensate from separating from my SO. That's got to put a dent in the savings rate!

In my experience, one can get most of that compensation for the price of a few drinks at the bar.

And it's certainly possible to get all the benefits without the financial entanglements of combining incomes and expenses.

My brother is a bartender so drinks are always free!!!

Linda_Norway

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Re: Planning to Semi-FIRE!!!
« Reply #56 on: December 21, 2016, 07:13:11 AM »
Great news after thinking long and hard, crunching numbers, and then talking it over with the wife. I have made the decision to switch from full-time to part-time and eventually full FIRE.

<...>

I am really looking forward to the next phase of my life. Although not fully FIRE, it's a step in that direction. And a really big one. Wish me luck!

Great plan, good luck with it.

I would really want to work part time as well. And we could easily afford it, as we spend way less than 1 netto income. But as we don't have special needs at home, like supporting a child, I have no excuse to reduce my working hours while my DH should continue to work full time. I don't think he would accept it. It would also mean a direct cut in the option to FIRE in 7 years. I feel that we need to maximize our incomes to be able to do it.

But I really can't imagine working at my current employer for 7 years. Recently something happened that made me start thinking of finding another job. There is just no more honour to gain here from doing a good job, it's too much of a mess (delivering software with a growing backlog of quality issues).
I work very close to home and work half an hour shorter per day than many other jobs have, so that part is very attractive. I also have an attractive type of state pension. But I am seriously reconsidering whether to find something more inspiring. I also know VERY well that the grass isn't greener in other places, just another shade of yellowish-green. I need to talk to one of my friends soon, who is in the same kind of position. She might be able to review my perspective on things.

Playing with Fire UK

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Re: Planning to Semi-FIRE!!!
« Reply #57 on: December 23, 2016, 01:16:23 AM »
This seems more about the personalities of the people involved rather than strictly single/coupled. I'd imagine there are single people who 'need' a 4-bed for their shoes so wouldn't get the same savings sharing a household.

I'd need to spend a lot on hookers to compensate from separating from my SO. That's got to put a dent in the savings rate!
In my experience, one can get most of that compensation for the price of a few drinks at the bar.

And it's certainly possible to get all the benefits without the financial entanglements of combining incomes and expenses.
My brother is a bartender so drinks are always free!!!

Need to encourage sibling to switch to bartending.

Libertea

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Re: Planning to Semi-FIRE!!!
« Reply #58 on: January 07, 2017, 09:35:45 AM »
It's been a week now since I quit my FT job and started my "sabbatical."  I've been busy packing up my apartment, starting to learn a new language for travel abroad in a few months, and preparing for paid internship in the new semi-FIRE career (different than previous career).  I'm also getting ready to run a half marathon next month, so the training takes time too.  I'm going to start traveling in a couple of weeks to visit family and friends here in the US before going abroad. 

We'll see how I feel this summer when I have to actually start showing up to my old job again (albeit PT), but so far at least, I still feel like semi-FIRE was a good decision.  I like the idea of having something to retire to, so to speak, and I had already realized that my issue was less one of not wanting to work at all and more one of not wanting to work FT on somebody else's schedule.  I also didn't love my previous career and was becoming burned out.  Not to mention that financially, I feel more comfortable being semi-FIRE since this completely eliminates sequence of return risk (at this point I am intending to continue working PT for at least the next several years).  In fact, I will even be able to continue saving more money over the next couple of years, albeit at nowhere near my former rate.  Dealing with the health care insurance issue during the five months I'm not covered by employer health insurance has been a bit of a PITA, but not insurmountable. 

Just wanted to keep this thread active, because I think semi-FIRE is an important and viable option, especially for the type A's among us.  I'm also curious as to how other people who semi-FIRE are structuring their work schedules.  It seems to me that there are basically two main options: work PT continuously, or work FT intermittently.  My semi-FIRE appears to be taking more of the second approach, where I work FT for a while, take several months off, and then work FT for a while again.  I imagine this will be somewhat field-dependent, with certain jobs lending themselves more easily to PT work versus intermittent FT work.  But interested in what other people's experiences have been.

Metric Mouse

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Re: Planning to Semi-FIRE!!!
« Reply #59 on: January 09, 2017, 09:37:50 PM »
Thanks for the update!
Give me one fine day of plain sailing weather and I can mess up anything.

MustacheMathTM

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Re: Planning to Semi-FIRE!!!
« Reply #60 on: January 10, 2017, 01:28:36 PM »
Just wanted to keep this thread active, because I think semi-FIRE is an important and viable option, especially for the type A's among us.

It's interesting to hear you say that because to me, semi-FIRE seems less type A than full-on FIRE. When I read about people saving 60 or 70% of their income so they can retire by 40, I think, "Wow, I don't have the drive to do that." But I can save enough so that I'm only working, say, 20 hours a week by the time I'm 45 or 50.  (I'm 34 now.) It feels a lot less intense.

spartana

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Re: Planning to Semi-FIRE!!!
« Reply #61 on: January 10, 2017, 01:36:49 PM »
Just wanted to keep this thread active, because I think semi-FIRE is an important and viable option, especially for the type A's among us.

It's interesting to hear you say that because to me, semi-FIRE seems less type A than full-on FIRE. When I read about people saving 60 or 70% of their income so they can retire by 40, I think, "Wow, I don't have the drive to do that." But I can save enough so that I'm only working, say, 20 hours a week by the time I'm 45 or 50.  (I'm 34 now.) It feels a lot less intense.
I thought the same thing too. Being a type A person I feel that total RE is a better fit and outlet for my need to set and accomplish goals or challenge myself then I would be able to do while working p/t. There are many ways a type A can find challenges once FIREd that are just different than work challenges - and much more interesting and fun IMHO ;-)
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BeginnerStache

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Re: Planning to Semi-FIRE!!!
« Reply #62 on: March 16, 2017, 09:32:50 AM »
Thought I would provide an update since it's been a few months. Got around to talking to my boss and a couple other higher ups about my plans. They weren't sure what to make of it since no one has ever asked to just work part time unless they were old and retired. Probably not great timing either as we are slammed with work. Or maybe a good a time as any depending on how you look at it.

Anyways have a meeting with HR later to discuss contracting. Not sure how it's going to go. But I've got my fingers crossed.

Lucky Girl

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Re: Planning to Semi-FIRE!!!
« Reply #63 on: March 17, 2017, 07:39:23 AM »
Good luck BeginnerStache!  Hope they give you a good part-time option!

Sustainable Happiness

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Re: Planning to Semi-FIRE!!!
« Reply #64 on: March 17, 2017, 01:50:35 PM »
Libertea, I fully agree that Semi-RE is a viable path (although I haven't taken it yet).

I have the unique (Canadian) opportunity coming up in the Fall to take an unpaid 8-month paternity leave when our first baby is born. I fully plan on taking it and attempting in that 8-months to develop a lifestyle that is self-supporting through either various income streams or 1 that I enjoy.

Currently about 30% of our expense will be covered by my part-time teaching job at ~6 hours per week, toss in some other activities and a few bucks through entrepreneurship and I may be able to cover them entirely without help from DW. That being said, she will be going back to some kind of work after her maternity leave so if I can cover it, the rest is gravy.

Luckily I'll have a fall-back to go back to my 9-5 if necessary, but I hope to not use it.