2022 FIRE cohort

[taco_sushi]

I've had 8 months to decompress and evaluate what I want to do with my life. I've done some translating, some writing, some travelling, some weight-loss, and some therapy (all useful in different ways). The issue remains that I'd feel "safer" with three more years of employment (or thereabouts - might be more if I enjoy it). After all, my original FI/RE cohort was 2025. This is in part because we don't have a huge amount of cash, our pensions have trended down/sideways the past 2 years or so, and I'm loathe to spend the cash buffer we have on just bridging the gap.

While my main goal for 2023 remains to undo the damage the stress, long hours and ... problematic work culture have done (weight gain, burnout, etc), I did dip my toes into the job pool for part-time or contract work, and I've had a pretty surprising amount of success. Some of the opportunities are outside my wheelhouse (ranging from Media to FinTech), some of them are very much within my usual area. One thing that has really sunk in is that, ultimately, it was the City (read: financial services) culture that nearly broke me. That's been borne out by the interviews I've had - everybody is (seems?) so much nicer outside finance.

Long story short, I've just received an offer from a very large media company doing something Totally Different (but using skills I want to use more), and I'm very excited even though I'm taking a more than 50% pay cut compared to my previous finance job. I'm not sure yet whether this is going to be the "Barista" part of "barista FI/RE" as I coast closer to the point where I can access my pension, or it might be a totally new career - the company offers excellent learning and development pathways. In addition, benefits etc are very good, and it's mostly working from home, which means it's not going to mess with my health goals too much. Plus, I can make that salary work - I saved/invested almost 75% of the old salary, so that shouldn't be a huge problem. I'm maybe a little worried that I'll resent the much smaller salary, but then again, I don't have many years until I will retire, so none of these decisions are really going to move the needle. Mostly, I'm excited to learn something new and get paid for it, and if I don't like it, I'll come up with a different plan. The Way of the Moustache has enabled all these options, which I'm grateful for, even though I'm definitely still fine-tuning.

Congrats @Vashy on your next chapter. I think it's more about the journey than the destination. Excited for you, and know that salary is a number now. If you're topping up you've got a very short Coast FI.  And if it doesn't resonate with you,  you can pivot again.  I think it's important to be "in the vibe", whether official working or not. So maybe you'll be vibing in this new space :)

[mspym]

I'm at 11 months now and it's starting to feel real. I've picked up some freelance proofreading which I enjoy but don't worry about hustling for new contracts. The next big change will be moving to the house that I bought in my first month of FIRE - surprise! - but the date for that is still uncertain.

[Vashy]

I've had 8 months to decompress and evaluate what I want to do with my life. I've done some translating, some writing, some travelling, some weight-loss, and some therapy (all useful in different ways). The issue remains that I'd feel "safer" with three more years of employment (or thereabouts - might be more if I enjoy it). After all, my original FI/RE cohort was 2025. This is in part because we don't have a huge amount of cash, our pensions have trended down/sideways the past 2 years or so, and I'm loathe to spend the cash buffer we have on just bridging the gap.

While my main goal for 2023 remains to undo the damage the stress, long hours and ... problematic work culture have done (weight gain, burnout, etc), I did dip my toes into the job pool for part-time or contract work, and I've had a pretty surprising amount of success. Some of the opportunities are outside my wheelhouse (ranging from Media to FinTech), some of them are very much within my usual area. One thing that has really sunk in is that, ultimately, it was the City (read: financial services) culture that nearly broke me. That's been borne out by the interviews I've had - everybody is (seems?) so much nicer outside finance.

Long story short, I've just received an offer from a very large media company doing something Totally Different (but using skills I want to use more), and I'm very excited even though I'm taking a more than 50% pay cut compared to my previous finance job. I'm not sure yet whether this is going to be the "Barista" part of "barista FI/RE" as I coast closer to the point where I can access my pension, or it might be a totally new career - the company offers excellent learning and development pathways. In addition, benefits etc are very good, and it's mostly working from home, which means it's not going to mess with my health goals too much. Plus, I can make that salary work - I saved/invested almost 75% of the old salary, so that shouldn't be a huge problem. I'm maybe a little worried that I'll resent the much smaller salary, but then again, I don't have many years until I will retire, so none of these decisions are really going to move the needle. Mostly, I'm excited to learn something new and get paid for it, and if I don't like it, I'll come up with a different plan. The Way of the Moustache has enabled all these options, which I'm grateful for, even though I'm definitely still fine-tuning.

Congrats @Vashy on your next chapter. I think it's more about the journey than the destination. Excited for you, and know that salary is a number now. If you're topping up you've got a very short Coast FI.  And if it doesn't resonate with you,  you can pivot again.  I think it's important to be "in the vibe", whether official working or not. So maybe you'll be vibing in this new space :)

Thank you! Yeah, I'm good going with the flow on this one. I really understand that, for me, FI/RE/Moustachianism is really about having options, and so many people really don't have those. The MMM way has allowed me to roll with the punches and keep all options open. I could make it to pension age with casual work/contracting (and maybe very slightly leaning on my partner while I'm mostly a homemaker) for sure, but I can also take a 50% pay cut for a new career that can pay more as I climb the ladder again. By way of example, a few years ago, they laid off somebody else on the team I got laid off from, and she had a much more expensive lifestyle (no home equity because renter, she'd just bought a new, expensive car, and she had a design label/posh restaurant habit), and for her, the world fell out from under her. She's okay now (I follow her journey and contract gigs on LinkedIn), but I had none of that stress to deal with, and that's really priceless. I can/could worry a lot more about "what do I actually want to do with my life" and "what does an ideal job/employer look like for me" than having  to go with the biggest pay check on offer because I'm desperate. That, too, is priceless and I hope I make the best decision doing something that new and exciting and gives me opportunity to learn and develop for 29k than the same old financial editing gig for 50k that I'm sick to the back teeth of.

Anyway, Coast/Barista FI/RE is awesome.

[2KidFIRE]

Well, I'm officially no longer part of the 2022 cohort, as I went back to work at the end of February :'(

Looks like I'm at least OMY-ing into the 2023 cohort, but we'll see if it ends up being longer.  I did get almost a year off, which was awesome!  Congrats to everyone who pulled the plug in 2022 and manages to make it stick; you're my inspiration :)

[thinkerGirl]

2022 FIRE Cohort folks, we went out with a bit of a whimper instead of a bang!  Not surprising with the 18%-ish decline in the S&P. 

I don't have the mad skills of previous years' trackers to collate all the results of the cohort, but I did check out the first couple years of this thread, which started in April 2015.  Very few of the early year posters are still posting on this thread.  In fact, I believe @2Birds1Stone and @boarder42 are the only two posters who chimed in in 2015/2016 and then made it to the end, retiring this year!  Congrats, you long-time, determined, steady-eddys!

There were a few other posters from 2015 that I still see around the boards, though I think they retired earlier than 2022:  @nereo, @RWD, @Playing with Fire UK and probably a few others I've missed, since I didn't troll through 20 pages of thread.

Despite the lower-than-expected number of retirements, most likely due to the markets, the 2022 Cohort is not in a bad position, in my opinion:  many people stayed working throughout the declining markets, and continued to shovel $$ into various funds while they were "on sale," rather than retiring and then experiencing a market dip in the first year of retirement. In that sense, I believe we're probably better off than the 2021 cohort.

Thoughts?

I would agree. I was one of the ones that went to part-time remote, and for my own nerves it was a lucky break to be asked to stay on my terms. I would have been way too worried had not been given the option when I announced retirement. Being forced to withdraw in 2022/23 would have been very costly. Now I can keep one foot in the job and still enjoy copious amounts of free time, health care, and no commute... without dipping into the principal of our savings. A big chunk of our portfolio is Canadian real estate - we've put divesting on hold given the softening of the markets - but rents have gone up so that helps. Student housing is booming right now as well, so it will pay to hold on a little longer. 

Also, as we look at our numbers now, if we can make it in today's environment, with today's numbers, it's a lot easier to be confident of success moving forward.

I've spending the time getting back into shape and working on healthy eating.  We've also gone on a couple of epic trips, easier to schedule with the regular days off. Part-time really has been a "have your cake and eat it too"! Highly recommend if you can do it.

[Wadiman]

Howdy -

Late 22er checking in.  I've really enjoyed my new life since pulling the plug in October 22.  Started out with a hiking and introductory mountaineering holiday to New Zealand in November.  The trip highlighted a gap between how fit I thought I was and reality!  Then I had the fun and games of moving to a new area and renting while our new home is being built. 

I am really getting used to not working FT and feel far more relaxed although I haven't seen this translate to lower blood pressure as yet - perhaps it will once I become more regular with exercise.

From a stash point of view I'm pretty happy with how things ended up and to help manage SORR I've pulled out $10k less than I initially planned for. I'll be using the 'Floor and Ceiling' approach to calculate annual spending and have two seperate term deposits (CDs in US-speak) for 2024 and 2025 covering a base amount and then individual bonds maturing in 2026 and beyond so I won't need to touch equity investments for some time. Dividends/distributions will be accumulated into high interest savings accounts for future years.

I've ended up getting a little gig (6 hrs a week for 6 weeks) for some pocket-money which should generate about $4k which I can spend guilt-free.  I'll probably put this towards a rafting trip in Canada which are pretty $$$.



 

[Playing with Fire UK]

There were a few other posters from 2015 that I still see around the boards, though I think they retired earlier than 2022:  @nereo, @RWD, @Playing with Fire UK and probably a few others I've missed, since I didn't troll through 20 pages of thread.

Despite the lower-than-expected number of retirements, most likely due to the markets, the 2022 Cohort is not in a bad position, in my opinion:  many people stayed working throughout the declining markets, and continued to shovel $$ into various funds while they were "on sale," rather than retiring and then experiencing a market dip in the first year of retirement. In that sense, I believe we're probably better off than the 2021 cohort.

Thoughts?

I retired in July 2022. 2022 was a stretch for me when I set it as a target (I was on track for 2025 in 2015). A job move with a pay rise, some cheap living during Covid and being sick and tired of the workplace all helped to make that possible.

I felt and continue to feel nervous about pulling the plug during a market dip, with higher inflation than I've seen as an adult and seeing the GB pound tumble against other currencies. Having said all of that, I have enough money at the moment and all the free time is incredible. I've no interest in returning to work unless I have to.

[mspym]

There were a few other posters from 2015 that I still see around the boards, though I think they retired earlier than 2022:  @nereo, @RWD, @Playing with Fire UK and probably a few others I've missed, since I didn't troll through 20 pages of thread.

Despite the lower-than-expected number of retirements, most likely due to the markets, the 2022 Cohort is not in a bad position, in my opinion:  many people stayed working throughout the declining markets, and continued to shovel $$ into various funds while they were "on sale," rather than retiring and then experiencing a market dip in the first year of retirement. In that sense, I believe we're probably better off than the 2021 cohort.

Thoughts?

I retired in July 2022. 2022 was a stretch for me when I set it as a target (I was on track for 2025 in 2015). A job move with a pay rise, some cheap living during Covid and being sick and tired of the workplace all helped to make that possible.

I felt and continue to feel nervous about pulling the plug during a market dip, with higher inflation than I've seen as an adult and seeing the GB pound tumble against other currencies. Having said all of that, I have enough money at the moment and all the free time is incredible. I've no interest in returning to work unless I have to.

That is honestly the very best news I read today. I am so happy for you, given how much of a stretch it seemed a few years ago.

[Dicey]

There were a few other posters from 2015 that I still see around the boards, though I think they retired earlier than 2022:  @nereo, @RWD, @Playing with Fire UK and probably a few others I've missed, since I didn't troll through 20 pages of thread.

Despite the lower-than-expected number of retirements, most likely due to the markets, the 2022 Cohort is not in a bad position, in my opinion:  many people stayed working throughout the declining markets, and continued to shovel $$ into various funds while they were "on sale," rather than retiring and then experiencing a market dip in the first year of retirement. In that sense, I believe we're probably better off than the 2021 cohort.

Thoughts?

I retired in July 2022. 2022 was a stretch for me when I set it as a target (I was on track for 2025 in 2015). A job move with a pay rise, some cheap living during Covid and being sick and tired of the workplace all helped to make that possible.

I felt and continue to feel nervous about pulling the plug during a market dip, with higher inflation than I've seen as an adult and seeing the GB pound tumble against other currencies. Having said all of that, I have enough money at the moment and all the free time is incredible. I've no interest in returning to work unless I have to.

That is honestly the very best news I read today. I am so happy for you, given how much of a stretch it seemed a few years ago.

+1. Nice update!

[salt cured]

There were a few other posters from 2015 that I still see around the boards, though I think they retired earlier than 2022:  @nereo, @RWD, @Playing with Fire UK and probably a few others I've missed, since I didn't troll through 20 pages of thread.

Despite the lower-than-expected number of retirements, most likely due to the markets, the 2022 Cohort is not in a bad position, in my opinion:  many people stayed working throughout the declining markets, and continued to shovel $$ into various funds while they were "on sale," rather than retiring and then experiencing a market dip in the first year of retirement. In that sense, I believe we're probably better off than the 2021 cohort.

Thoughts?

I retired in July 2022. 2022 was a stretch for me when I set it as a target (I was on track for 2025 in 2015). A job move with a pay rise, some cheap living during Covid and being sick and tired of the workplace all helped to make that possible.

I felt and continue to feel nervous about pulling the plug during a market dip, with higher inflation than I've seen as an adult and seeing the GB pound tumble against other currencies. Having said all of that, I have enough money at the moment and all the free time is incredible. I've no interest in returning to work unless I have to.

Midway through 2023, I wonder how the cohort is feeling. I also quit in July last year and have seen my portfolio increase 11% YoY after expenses. May inflation was, I believe, around 4% YoY, so I am expecting about a ~7% real increase. Personally that leaves me feeling pretty good.

[Wadiman]

Salt cured - I'm feeling reasonably comfortable with an increase of around 3% in total portfolio value since pulling the plug in Nov 2022. Having said that, I have underestimated the costs of a new home build so all of that additional value will be consumed plus a little more.  All up though, I'm feeling really good about not working FT and love how I feel on waking in the morning and reminding myself that I don't have to get ready for work or shave (if I don't want to)! 

[Slow road to freedom]

I can honestly say I don’t regret retiring at all. I’ve been busier than ever, but doing the things I want to do and meeting people for coffee / lunch that I want to.

Inflation in the UK is rather higher but I’ve countered that by doing some very part time paid work. I’d do it for free.

I rarely think about money. In fact, I rarely jump onto these boards - they’ve been an important source of motivation, information and sense of community given I retired at 50 - but I’m so busy getting on with other things that I truly struggle with time!

Or I’m so chilled…

[skip207]

Well, just thought I would check back in.
Its been a year since I FIRE’d.
Its been a ride!!!

To start with things were quite difficult, it took me a good few months to adjust.  Eventually my body clock started to change and I found my sleep got better and I was able to be more active.  I found I was getting pretty sleepy in the day, it was like my body didnt know what to do!!  Now I am up and about around 8am most days and feel pretty good. 

My goal was to travel as much as possible, and I think I can say hand on heart I have accomplished this goal!!!  I wont list where I have been - but I have pretty much taken a lap of the planet.  I think I have been home about 3 months total out of the last 12.  7 countries, about 20 flights.... yeah its been a heck of a ride.  Thats a big win and a big tick in the box for me.

Its been refreshing to be able to go where I want when I want and also travel when its cheapest.  Flight at 11pm with a 13 hour layover... but its half the price... no problem!!

My next goal is to get myself back in the gym and improve my fitness and do plenty of work on my house.  I still have the travel bug, but I have proved to myself that I can really go anywhere so thats taken the pressure off - I dont know where I  will travel too next but I am just enjoying the summer at home for now.

Financially, its been a tale of 2 sides for sure.  Inflation has been a shock.  Of course something would happen like this to me… it always does!!  But its calmed down a touch now and I think energy is coming under control which was a worry.

On the positive side interest rates are pretty hefty right now, so I have taken advantage of this and invested a lot of my NW into fixed rate, tax free, accounts.  (moved my ISA into fixed cash ISA for those in the UK).  This now gives me an income of about 50% of my old salary.  That will do!!  So long as my capital remains its getting me further down the road before I have to draw off that capital.

Another positive was after I closed my business there was a bit more left over than I thought and I managed to come away with a bit more money.  Which was nice!  Finally, the markets.  I know they say dont try and time the market… but I have managed to dip in and out on a few things and been pretty successful.  The markets have had a great run the last 6 months.  I am now back in cash and happy to sit on my hands for a year whilst I get that sweet, sweet tax free ISA interest each month. (yeah I know the market might outperform)

My basic FIRE budget was £2000 PCM.  I have just ran the numbers and give or take its about spot on the money.  I had a travel budget of £1000 PCM.  I have blown through that big time, but I am going to slow it down a little now.  I spent probably closer to twice that on travel.  But do not fear…. in summary I FIRE’d at 1.1MM and today I sit around 1.3MM.   So whilst I have spent more than I planned (on the good stuff!) I have ended up with more too.  Now I need to be careful as I know not every year can be like this - but I did get that little bonus from work - so thats funded most of it.
I have also been playing a little game to see just how little I can live on - just for fun.  I think I can survive on a lot less than I thought I could - so if times ever get hard I know its not the end of the world.

Personally, probably the hardest thing has been spending a lot more time with the wife.  We have some shared interests which helps, but at times spending 24/7 together for weeks and weeks at a time have been quite hard. 

Every week I make a to do list and I try and make sure I get through it by Sunday.  I like to take Monday as my Sunday - just because I can.  Some days I might have 7 or 8 things to do - I have no idea how I did all this stuff when I was working ( I think the answer is half of it just got left ).

Its also great to be able to take the time to do a good job when you are doing something.  If the hedge needs cutting I can spend all day on it - get it looking nice and sharp.  In years gone by I would finish it in half an hour and it would look like its been attacked by rabid sheep. 

So having that time is nice, and being able to do a proper job.

I have also spent some time helping friends with stuff, which I would not normally be able to do.  Its also nice to just go out for lunch on a Tuesday afternoon.. Because you can.

Well thats it.  Its been a pretty good year, a couple of minor issues along the way - but other than that its been one of the best years of my life so cant complain.

I hope to check back in next year and be on budget, fitter and have a nice tidy garden 🙂

[mspym]

I was getting into a regular mostly retired rhythm after a year and then Ofpym got made redundant so we’ve crashed the schedule on our planned international move and in six weeks we’ll be in a whole new country and working out life as a jointly FIREd couple.

Researching and managing the move activities has been a pretty good project for me but I’ll be pleased when it’s done.

[Wadiman]

@mspym - super exciting times ahead for you!  What region are you looking to relocate to?  Is this a try and see or a permanent move?  We've relocated within Aus but I do ponder an international move from time to time.   

[Wadiman]

Hey there fellow - 22ers!

Is it time for a check-in to see how we are travelling?

It's been close to 12 months for me now and things aren't quite what I expected but are commonly mentioned here:

* It took me quite a while to get to the point where I felt like I had enough energy to become productive in a meaningful and consistent way (ie a longer than expected decompression).  I found myself mentally ready after about 5 months to tackle some semi-demanding mental challenges

* I miss the cashflow from a salary and have created a dividend/interest calendar to somewhat compensate for this

* I'm not too stressed out about the ebbs and flows with the stash but it has been pretty challenging to sell-down about $40k to fund an overrun in the budget for landscaping a new home - I guess that the mindset that's developed over 10+ years of saving and investing is hard to shake!

* I've not been exercising or eating healthy food as much as I expected to - although this is starting to change for the better

* I've still got more work to do on being calm and less stressed - I thought I would be much more relaxed by now!

* I'm spending far more time with the min-moustaches - which has been great.

How about you - any reflections to share? 

[Glenstache]

I went to part time coast-FIRE in January of 22 when I reached my leanest of lean FIRE threshold (I hit the market peak within about 24 hours of negotiating the transition with my bosses). If all goes as epxected, I will reach my target full FIRE target amount in the next 6 months. Over the last year or so I've struggled with work boundaries and have ended up getting sucked into more than I want over the last few months. I'm still not working a full time load, but it is enough that I don't get the "away" mental time that I want/need and the schedule is fragmented enough that I'm not able to get the full weekdays off either. In short, I think it is time to retrench on reducing work (which will push out transition from coast to full FIRE by a few months). As I contemplate actully fully pulling the plug on work, I am realizing that I still have trepidation at making that transition even though I have other things that would occupy my time. This is pretty common, and I'm likely preaching to the choir in this group that has largely already made the full leap. Feels like standing at the top of a rock about to jump into a lake. You know it will be good once you jump, but there's still that trepidation.

[mspym]

We were planning on moving to my home country next March/April but our moving dates got pulled forward to August when my husband was made redundant, along with 30% of his project team. Nice payout tipped him into the close-enough-to-try range for FI so we changed our holiday plans to move permanently, which took up 3 months of my life project-managing. Now we're in our house, have our dog, our stuff is still somewhere in the middle of the ocean, and we're tackling the challenges of getting established in a new place again. We have no idea how much things are going to cost here and at some point we might need to find jobs again.

BUT I'm still glad we did this. My mum is going downhill and it's really important for me to be here while it makes a positive impact on her life. It'll also free my sister from some of the emotional load that she has been carrying.

[LightTripper]

Yes @mspym it's been the family aspect that's made the most difference to me.

I had been working around 3 days a week for most of 2021 and 2022 which was great, but with 2 kids still super busy and constantly juggling.  Since I (mentally at least) retired this year I've been doing at most 1 day a week, opening up plenty of time for other stuff - which I intended to be mainly organising and decluttering our home plus engaging in creative projects (learning an instrument, drawing, baking, making stuff).

Well, that didn't quite work out, but while I've been a bit frustrated not to suddenly live in a perfectly beautiful and organised house what I've found myself actually devoting more time to is (a) family and friends (more time with the kids, and also seeing a favourite uncle who was diagnosed with a terminal cancer earlier in the summer, seeing more of a friend going through a tricky pregnancy and hard time at work), (b) health (changing up my diet mainly so far to balance a bit away from meat/carbs/processed foods towards veg/seeds/nuts/wholegrains and just get some more variety into my diet rather than effectively just clicking "same again" on the online grocery order each week, and walking everywhere - although I want to do more on the exercise front), and (c) community (doing a little bit of volunteering and just spending a bit more time chatting to neighbours and going for walks/coffee with local friends without always having to be rushing off somewhere else).  And actually I'm happy with all those things.  I often think that our plans reflect who we think we'd like to be, but our actions reflect who we really are.  And as a reflection of my values and what *actually* makes me happy the things I've actually been devoting time to are all good uses of time.

Although I'd love to be magically more organised and live in a beautifully chic home (one day, we're getting there in tiny baby steps - or at least have stemmed the tide towards chaos), this year has been great.  Although 1 day a week working is not too painful, I definitely don't miss the aspects of work that I've given up, and am feeling very relaxed about gently sliding towards 0 days a week over the next couple of years.  It's been lovely spending more time with the kids - including not only getting more organised to plan fun activities for the school holidays, but also more time not "doing" anything worthy but just watching and engaging with them while they play their computer game or watch a TV show, or helping them regulate through grouchy days or tricky homeworks without always having one eye on the clock/my e-mail.  I have really enjoyed eating better, sleeping more, and getting to spend time with my Uncle, who thankfully is still on great form, and I want to make the most of that for as long as he's got and squeeze in as many lovely lunches between school runs as we possibly can.  Although I'm still a bit stressed about certain things (finding DD's next school, for example), it is so much less stressful knowing that I actually do have the time to devote to that effort, if I prioritise it right.

[mistymoney]

I went to part time coast-FIRE in January of 22 when I reached my leanest of lean FIRE threshold (I hit the market peak within about 24 hours of negotiating the transition with my bosses). If all goes as epxected, I will reach my target full FIRE target amount in the next 6 months. Over the last year or so I've struggled with work boundaries and have ended up getting sucked into more than I want over the last few months. I'm still not working a full time load, but it is enough that I don't get the "away" mental time that I want/need and the schedule is fragmented enough that I'm not able to get the full weekdays off either. In short, I think it is time to retrench on reducing work (which will push out transition from coast to full FIRE by a few months). As I contemplate actully fully pulling the plug on work, I am realizing that I still have trepidation at making that transition even though I have other things that would occupy my time. This is pretty common, and I'm likely preaching to the choir in this group that has largely already made the full leap. Feels like standing at the top of a rock about to jump into a lake. You know it will be good once you jump, but there's still that trepidation.

Can you share any details on how this occurred? Wondering what steps you made, or what conditions enabled this.

The stock market has not yet recovered its ATH, which was in Jan 22 I think. How did you get from leanest of lean to full FI while only coasting? Or were you making more than just coast money and able to keep investing?

[Glenstache]

I went to part time coast-FIRE in January of 22 when I reached my leanest of lean FIRE threshold (I hit the market peak within about 24 hours of negotiating the transition with my bosses). If all goes as epxected, I will reach my target full FIRE target amount in the next 6 months. Over the last year or so I've struggled with work boundaries and have ended up getting sucked into more than I want over the last few months. I'm still not working a full time load, but it is enough that I don't get the "away" mental time that I want/need and the schedule is fragmented enough that I'm not able to get the full weekdays off either. In short, I think it is time to retrench on reducing work (which will push out transition from coast to full FIRE by a few months). As I contemplate actully fully pulling the plug on work, I am realizing that I still have trepidation at making that transition even though I have other things that would occupy my time. This is pretty common, and I'm likely preaching to the choir in this group that has largely already made the full leap. Feels like standing at the top of a rock about to jump into a lake. You know it will be good once you jump, but there's still that trepidation.

Can you share any details on how this occurred? Wondering what steps you made, or what conditions enabled this.

The stock market has not yet recovered its ATH, which was in Jan 22 I think. How did you get from leanest of lean to full FI while only coasting? Or were you making more than just coast money and able to keep investing?

Mostly it has been maintaining a high savings rate even after going to coast mode plus an unexpected minor windfall that first year as some old bonuses that I had not tracked came through. Even though I live in a HCOL area, through a refi at the low-low point in rates that has allowed a pretty low set of monthly expenses, and continued low spending, I have been able to continue shoveling coal into the burner, so to speak. My gap between coast an dfull may be narrower than for others, too.

[Vashy]

Update from me: I went coast FI/RE in August 2022, did freelance work, then took a six-month contract in a new-to-me industry. I've reached the point where I now feel under-utilised and a bit bored, plus hopes of finding a second career path or opportunity within that company have been dashed (three times), so I'm now talking to various people about a different contract (one interview today) and freelance (interview on Monday) positions.

Overall, I've been very good about bringing in money consistently, contributing further to pension/s and just not spending a lot, also getting a small tax refund that I'll put into savings/pay down some of the mortgage. I'm feeling quite relaxed about finding ways to keep my head above water for the next 10 years without relying on Mr Vashy. The big realisation/take-away for me is that I really just need to spend the time/make some extra income to keep me afloat - this is no longer about "having a career", so I can experiment, like change industry, work for a cool company, or just be a mercenary, work 6-month contracts in a tough, well-paid job and then take the rest of the year off if nothing interesting comes up. Also, I'm  writing books again (my side hustle) and there's always a chance to make some extra cash from that.

[LightTripper]

That sounds really good Vashy.  I think it's the change in mindset that's as much of a challenge as any of the practical stuff (probably more of a challenge!)  We are all socialised so strongly as kids to think about careers and moving up and promotions and stuff like that.  Having the financial freedom to eschew all that is one thing (and already quite impressive), but then being able to do the mental 180 to actually *use* that freedom properly is a whole additional level of self-education!!

[Vashy]

That sounds really good Vashy.  I think it's the change in mindset that's as much of a challenge as any of the practical stuff (probably more of a challenge!)  We are all socialised so strongly as kids to think about careers and moving up and promotions and stuff like that.  Having the financial freedom to eschew all that is one thing (and already quite impressive), but then being able to do the mental 180 to actually *use* that freedom properly is a whole additional level of self-education!!

Agreed! I've grown a lot as a person over the past 12 months. Funnily enough, I got hired as a contractor for 6-7 months and make more now than I ever have. Not sure I'd want to do this forever, but getting showered with praise and money (most companies do one OR the other, never both!) is really nice. Basically living my best life right now.

[LightTripper]

Just wonderful! May it last as long as you would like it to :)

[cats]

Checking in as we're a bit over a year out now.  I've still been doing some consulting work (started in Jan 2023) which seems to cover most/all of our expenses, so we have not been drawing down our cash stash. Our investments are taking a bit of a beating at the moment but we have no pressing need to make withdrawals so it's technically no big deal.

Out post-FIRE spending has so far not spiraled out of control, despite me feeling like I've been much more relaxed about spending. A lot of credit for low spending goes to mr. cats, who is excellent at DIY and home repair and has undoubtedly saved us a pretty penny this year. I do think at some point we're probably going to have a more expensive year, as there's several home things we'd like to do that are going to be higher cost even with a lot of DIY. But 2023 is (knock on wood) not shaping up to be that year.

Mentally, I am a bit all over the place. I enjoy having more free time. I feel like I'm definitely in better shape physically (both from being able to exercise more consistently and from less work stress). I do still have pangs of wondering if this was the right choice. I have this weird doom think spiral I'm going into recently where I wonder about other couples like us who have continued working and if their wealth is going to way outstrip ours in the next 10-20 yrs and are we basically going to wind up destitute by virtue of having left several additional millions in potential savings on the table. I know this isn't really a sensible line of thought and I definitely thing about it less now than I did a year ago, so hopefully it will continue to subside as time marches on. Overall I am much happier with life now than life before!

[LightTripper]

I sometimes think like that too @cats, but I think the reality is that those couples end up spending that excess on things I am not very interested in (e.g. having a holiday house, new cars, lot of home remodelling, constant new clothes - things that all feel a bit stressful/like a burden to me, rather than things I aspire to, though I can obviously see why lots of people with differently wired brains do like/enjoy/aspire to those things!)

Like you I'm keeping half an iron in the fire with a bit of very part time consulting work, and although that has lots of advantages I wonder if that also helps sustain these feelings/worries (i.e. if we didn't actually have such an easy option to ramp up the earnings again, would we waste time thinking about what that would look like?)

[Vashy]

That sounds really good Vashy.  I think it's the change in mindset that's as much of a challenge as any of the practical stuff (probably more of a challenge!)  We are all socialised so strongly as kids to think about careers and moving up and promotions and stuff like that.  Having the financial freedom to eschew all that is one thing (and already quite impressive), but then being able to do the mental 180 to actually *use* that freedom properly is a whole additional level of self-education!!

Agreed! I've grown a lot as a person over the past 12 months. Funnily enough, I got hired as a contractor for 6-7 months and make more now than I ever have. Not sure I'd want to do this forever, but getting showered with praise and money (most companies do one OR the other, never both!) is really nice. Basically living my best life right now.

Yeah, I’m really enjoying the mercenary gig and four separate team members have made noises about how “they” (the powers above) should make me permanent. The company culture is frankly wonderful - lots of smart people actually working together without toxicity. I didn’t know they made companies like this. (Or maybe I’m super lucky with my particular team.)

[Glenstache]

I am officially dropping from coast FIRE to full FIRE in mid January. I have a bit of a sticky taper down at work in an attempt to be responsible and see that the projects I was leading are well supported as I exit. I am lucky that I have been able to have both great co-workers and clients, and have a personal desire to see them done well by.

[couponvan]

I am officially dropping from coast FIRE to full FIRE in mid January. I have a bit of a sticky taper down at work in an attempt to be responsible and see that the projects I was leading are well supported as I exit. I am lucky that I have been able to have both great co-workers and clients, and have a personal desire to see them done well by.

Go Glenstache!  Enjoy the FIRE.....

[frugalecon]

I am officially dropping from coast FIRE to full FIRE in mid January. I have a bit of a sticky taper down at work in an attempt to be responsible and see that the projects I was leading are well supported as I exit. I am lucky that I have been able to have both great co-workers and clients, and have a personal desire to see them done well by.

Go Glenstache!  Enjoy the FIRE.....

Well, at the age of 94, Glenstache deserves it!