Random Sunday afternoon musing.
For those of us with FIRE dates which are now 1-2 years away, I'm thinking about the potential 'jolt' of change that is coming. These thoughts came after reading the article:
https://www.caniretireyet.com/fire-make-life-harder/Unintentionally, we've already begun taking steps toward making some necessary changes needed for our ultimate FIRE goal. It got me thinking that it is probably a bit easier that way ... to spread out the "change jolts" a bit, rather than start everything new at T=0 once we reach our FIRE date. It is a luxury to be able to do so, but some of it just requires building a gradual exit plan toward reaching the desired FIRE lifestyle goal.
Things I'm thinking about:
1.
Selling / Downsizing a House / Moving: Mission accomplished for us, as we've already purchased our FIRE home, sold our HCOL home and moved into a downsized rental for the home-stretch. But I remember the "change jolt" that we felt for months after selling that HCOL home. I didn't realize how emotionally attached we were to it. Today, it's a lot better; 1-year later, and we are now in the phase where we look forward with anticipation to move out of this rental into our future FIRE home. I'm glad that 1st transition step is behind us.
2.
Leaving a Job Environment: This will be harder for us, no doubt. We actually like our jobs for the most part, and work with great people doing things that feel valuable. I spend ~50hrs per week and DW 30+hrs per week related to our jobs - that's a lot of hours to replace each week! New routines, new hobbies, new town, new everything! I'm excited as we have goals & hobbies directly associated with our new FIRE location dreams, but they are still relative unknowns at this time. Who's to say how that transition will actually unfold? Something we are trying to do now to ease the "change jolt" here for me is to practice using remote work schedule opportunities, and for DW to transition into a sabbatical mindset before our FIRE date. These will be big changes for us after working consistently for 15-20 years.
3.
Leaving Social Circles: Another category that will likely be a "change jolt". We have developed great community here from our work, gym and church here. While this will be irreplaceable in some ways, we know we can develop relationships again over time in a new town. For those who might be leaving family networks (not our situation), that could also be a big transition. Part of our FIRE timing goal is that we think we can re-develop new social circles easier in our early 40s vs. potentially trying to do so in our 60s following a traditional retirement timeline. That said, I'm sure that first couple of FIRE years will be a challenge. Something we have unintentionally / intentionally done, is 'market' our FIRE location to some good friends. One couple has already relocated (!!) to our FIRE location, and we have invited others to join us on vacation trips these next 2 years to the area. So maybe our marketing plan will help, haha ... always fun to adventure with others!
4.
Spending Plan Changes: Most of us likely have this aspect more dialed-in ... less subject to "change jolts". That said, normal expenses in one city (before FIRE) relative to normal expenses in another part of the country (after FIRE) carry uncertainty. We do what we can to track & project expenses, but who's to say what new hobbies, experiences or lifestyle changes FIRE will bring. Another vote for reasonable contingencies!
Y'all have a great day,
FIREby2021