Author Topic: Are there other folks here who didn't discover FIRE until after 40?  (Read 52020 times)

Ch@d

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #200 on: July 09, 2019, 07:18:52 PM »
Great thread.  I had to look up when I purchased parts from amazon for my shower as I found MMM when my shower pan cracked.  I was looking for something better than just replacing it with another expensive pan that I would have to worry about cracking again.  I found MMM's article on making one out of concrete almost 4 years ago when a was 41.  The pan turned out great and cost a fraction of what a replacement would have cost.  I've always tried a be a little more frugal than most, but definitely spent too much in a few places.  MMM and J Collins definitely pushed me in the right direction.  I was fortunate enough that I Received good financial advice about investing in FXAIX from a free financial advisor at my credit union and have maxed out my 401k for at least 10years.  I dream of retiring by 2024, but the kids will be hitting college about then so we'll see.  Definitely not ready to commit to that thread yet. 😁 I also want a little extra padding and a fat emergency fund like a few others on here have mentioned.  I only discovered the forum a little while ago, but have read all the MMM posts twice.
« Last Edit: July 09, 2019, 07:20:35 PM by Ch@d »

FireKingGreen

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #201 on: July 11, 2019, 05:54:45 AM »
This thread is incredibly encouraging to me as someone who discovered MMM in the last month or so at 44. I was raised by a single mom and grandparents raised in the depression, therefore frugality is in my genes, but I’ve had a fairly modest income most of my life and zero knowledge of investing.

I’ve always contributed to my 401K, but after a spendthrift H and costly divorce, FIRE seems out of reach. I will never be an extreme MMMer, but it is causing me to evaluate every single purchase/service, contemplate maxing my 401 this year, and realize that it might be possible to both help DS with college AND retire before my full SS age. 

DeskJockey2028

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #202 on: July 11, 2019, 06:01:22 AM »
While not in your situation, I was your age when I discovered MMM and the whole FIRE concept as well. I will say that things are moving along faster for me than I expected - not faster than what the math bears out, but it feels faster. Does that make sense?

I think part of it, a big part of it, is that I no longer feel the crushing pressure of debt and uncertainty. Our only debt is our mortgage and by putting the principles of FIRE to work, we're paying that off early. Our emergency fund is a comfortable size. We're watching our investments grow year by year. Earlier this year we had a $4400 bill that we were able to reduce down to $4000 by paying it immediately. And it didn't affect our monthly spending at all. We literally didn't notice it other than moving the money out of our E-fund and making some minor adjustments to refill that E-fund.

That's something that you can get out of this whole thing - piece of mind and more financial security. Even if you retire right at 65 or 67, you'll be vastly more secure and probably suffer from far, far less financial stress than most of the world.

This thread is incredibly encouraging to me as someone who discovered MMM in the last month or so at 44. I was raised by a single mom and grandparents raised in the depression, therefore frugality is in my genes, but I’ve had a fairly modest income most of my life and zero knowledge of investing.

I’ve always contributed to my 401K, but after a spendthrift H and costly divorce, FIRE seems out of reach. I will never be an extreme MMMer, but it is causing me to evaluate every single purchase/service, contemplate maxing my 401 this year, and realize that it might be possible to both help DS with college AND retire before my full SS age.

pachnik

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #203 on: July 11, 2019, 06:17:37 AM »
That's something that you can get out of this whole thing - piece of mind and more financial security. Even if you retire right at 65 or 67, you'll be vastly more secure and probably suffer from far, far less financial stress than most of the world.

Exactly this for me too.  I found MMM at 48 or 49 years old. 

dodojojo

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #204 on: July 11, 2019, 01:04:54 PM »
How times flies.  I encountered FIRE and MMM when I was googling "Buying versus renting".  Came upon MMM and this forum and registered.  Just checked and that was 6 years ago!  That went by quickly and I was 40 at the time.

Like many here, I was above average compared to most Americans in terms of savings and investing.  But the FIRE concept was entirely new to me.  I think if I had learned about it earlier, it may have shaved a few years off of my FIRE date.  But since I live in a HCOL and will likely retire in an even higher HCOL and certain family concerns, RE wasn't going to be in the cards for me anyway.  Now I'm just aiming for retirement before 60.  Which is an improvement I suppose.  Before MMM, I thought I was going to slog it out until I was eligible for SS.  Because that's just what people do.

Exflyboy

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #205 on: July 11, 2019, 03:03:49 PM »
I discovered FIRE when I was 51.. I retired when I was 52..:)

OK, I have been something of an extreme saver (living on the verge of homelessness growing up) ever since I emigrated to the US from the UK.. There were just too many financial risks here.. Like medical bankruptcy that just doesn't exist in the UK.

I stumbled upon MMM in Sept 2013 and added up my NW for the first time and discovered we have $1.035M plus paid off house. I hated my job, 80 mile one way commute, narcissistic bosses and "management by fear" philosophy.

It took until Christmas 2013 to get the idea that I really could retire.. Going back to work in Jan '14 I had decided to quit in April after I had maxed out the 401k and IRA's.

Fortune prevailed and my bosses had decided to "scare me straight".. Guess how well that worked?.. I just laughed at them.. so they fired me on Jan 9th with a 4 month severance package.. I had only been there 19 months..:)

I took a couple of contract gigs after that.. I call these my "hobby jobs". But that milarkey stopped in May 2016 and I have not worked since.

The market has grown such that our savings have more than doubled and our pensions although small will certainly help. I'll start drawing on the pensions when we finally get out of the rental business.

Its great..:)
« Last Edit: July 11, 2019, 03:08:50 PM by Exflyboy »

markbike528CBX

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #206 on: July 11, 2019, 07:17:28 PM »
....
I hated my job, 80 mile one way commute, narcissistic bosses and "management by fear" philosophy.

It took until Christmas 2013 to get the idea that I really could retire.. Going back to work in Jan '14 I had decided to quit in April after I had maxed out the 401k and IRA's.

Fortune prevailed and my bosses had decided to "scare me straight".. Guess how well that worked?.. I just laughed at them.. so they fired me on Jan 9th with a 4 month severance package.. I had only been there 19 months..:)
..........Its great..:)

Oooooh, this sounds like an FU money story.  Care to share, here or on the FU money thread?

How is "scare me straight" implemented?

Exflyboy

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #207 on: July 11, 2019, 08:46:08 PM »
Check my journal link at the bottom of this page.

I started writing it the day I FIRED..:)

okisok

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #208 on: July 11, 2019, 09:01:25 PM »
Pretty close--I was 38. Thanks so much for starting this thread! My net worth has gone from ($7k) to 81K in those two years, while making less money than I have in over five years. I found MMM through Frugalwoods, which Google recommended to me. I've always been frugal, but wasn't doing anything with the money I was *saving*. Yeah, I used coupons, then I put that money in a savings account with 1% interest, or just left it in my checking account to spend on something else.
I thought retirement was something you did when you were in your 60s, and worried about later. Now I know that I can take control of my finances and some control of when my retirement will be. I have so much more peace of mind now!

henramdrea

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #209 on: July 11, 2019, 09:20:23 PM »
Brand new here, first post! Been reading the site's blog and the great posts by you all.  I'm impressed by what I see here!  Lot's of know-how an a willingness to share!

So, thank-you Deskjockey2028 for starting this thread!  Looks like there's a lot of us 40+ readers out there not technically retiring early but seeing the finish line in site!  I'm 52 and looking to bow out of full time work at 60.  House will be paid, no credit-card bills, no other debt.  The last kid will turn 17 by then.  I'd like to be fully "work-optional" by 62 and I think by reading the great info on this site I should easily be able to get there!  Sell the big, dumb 5-bedroom McMansion and downsize to something about 1/2 that size and use the extra to either invest wisely or put into a rental property.

Again, thanks so much for this thread, I was feeling like I'd missed the early train.  Looks like I'm not alone!


Ps.  it's fecking hard to make a first post on this forum!   Jayz!!

AnxietyFly

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #210 on: July 11, 2019, 10:25:12 PM »
I learned about FIRE when I was 39 years old mostly through twitter. My knowledge on the subject is limited because I haven't spent a lot of time studying.

Dicey

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #211 on: July 12, 2019, 03:09:35 AM »
Brand new here, first post! Been reading the site's blog and the great posts by you all.  I'm impressed by what I see here!  Lot's of know-how an a willingness to share!

So, thank-you Deskjockey2028 for starting this thread!  Looks like there's a lot of us 40+ readers out there not technically retiring early but seeing the finish line in site!  I'm 52 and looking to bow out of full time work at 60.  House will be paid, no credit-card bills, no other debt.  The last kid will turn 17 by then.  I'd like to be fully "work-optional" by 62 and I think by reading the great info on this site I should easily be able to get there!  Sell the big, dumb 5-bedroom McMansion and downsize to something about 1/2 that size and use the extra to either invest wisely or put into a rental property.

Again, thanks so much for this thread, I was feeling like I'd missed the early train.  Looks like I'm not alone!

Ps.  it's fecking hard to make a first post on this forum!   Jayz!!
Welcome, henramdrea! If you're US based, and you know will be selling your house to downsize, it could be more advantageous to funnel money into investments first and let the mortgage ride. Lots of friendly discussion here:

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/dont-payoff-your-mortgage-club/

henramdrea

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #212 on: July 12, 2019, 09:08:39 AM »
Brand new here, first post! Been reading the site's blog and the great posts by you all.  I'm impressed by what I see here!  Lot's of know-how an a willingness to share!

So, thank-you Deskjockey2028 for starting this thread!  Looks like there's a lot of us 40+ readers out there not technically retiring early but seeing the finish line in site!  I'm 52 and looking to bow out of full time work at 60.  House will be paid, no credit-card bills, no other debt.  The last kid will turn 17 by then.  I'd like to be fully "work-optional" by 62 and I think by reading the great info on this site I should easily be able to get there!  Sell the big, dumb 5-bedroom McMansion and downsize to something about 1/2 that size and use the extra to either invest wisely or put into a rental property.

Again, thanks so much for this thread, I was feeling like I'd missed the early train.  Looks like I'm not alone!

Ps.  it's fecking hard to make a first post on this forum!   Jayz!!
Welcome, henramdrea! If you're US based, and you know will be selling your house to downsize, it could be more advantageous to funnel money into investments first and let the mortgage ride. Lots of friendly discussion here:

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/dont-payoff-your-mortgage-club/

Thanks Dicey for the thread.  Should be required reading for any of us with a mortgage still.  I was leaning in the direction you pointed out (investment vs. physical property rental) mainly due to the amount of work involved.   It's that lazy streak :)

I-Ranger

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #213 on: July 12, 2019, 09:36:02 AM »
Last year at age 42, I stumbled across a FIRE article, which led me to MMM. I read "The Shockingly Simple Math...", which was a red pill, head-exploding epiphany, then spent the next week or so devouring every post. This made me realize that, more than anything, I wanted to be free of mandatory work.

Couldn't have come at a better time. Had recently moved to a very LCOL area to start the first 6-figure job of my life, and was ramping up into total consumer sucka lifestyle inflation. Bought a flashy SUV, paid for 3 of my buddies to join me on a Colorado hiking adventure, and was pricing clown lake homes that were at least a 30 minute drive from work. I'd just assumed, because it's all I'd ever heard or been told, that I'd have to work until at least 65, and more likely 70, so I figured I might as well live like everyone else and spend away.

As Mustachian roots took hold in my brain, I slowed the spending train and finally reversed it. I sold the SUV, bought a used hybrid off Craigslist, and bought a reasonable house 3 blocks from work. I got a used bike for $100, then bought a bike trailer for $50. I started bringing lunch to work and making my own coffee every day, and was shocked as the cash started to build up in my account. I then got into JL Collins and read a few Jack Bogle books, and the fire hose of cash has been directed into index funds ever since.

Fast forward to today, where I'm about to buy an even smaller, cheaper house still within biking distance to work, and will sell my house which has gone up 15% in value since I bought it. I'm single with no kids, so it grew progressively more annoying to heat, cool, clean, etc. the 2 empty bedrooms in my 3 BR house. With a cheaper house, my savings rate should bump up to 85%. I'm on track to FIRE in 5 years, but more likely I will downshift before then, as I like my job, and feel I will like it even more if I only have to be there once or twice a week.

Couldn't be happier to find this forum full of helpful humans, most of whom are brimming with wisdom. I learn something useful every day. Of course I wish I would have discovered this earlier, and occasionally I want to face punch myself as I think about where I'd be had I started at even 32 instead of 42. But, acceptance sets in and I realize again how much fun it is to have control of my finances and to feel my position of strength grow. Money weighed heavily on my mind my whole life, and now that it doesn't, I am a happier person.

Thanks to all who share their wisdom here, I deeply appreciate it.


pachnik

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #214 on: July 12, 2019, 10:50:39 AM »
Money weighed heavily on my mind my whole life, and now that it doesn't, I am a happier person.

Me too.  :)

Dicey

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #215 on: July 12, 2019, 10:58:30 AM »
Brand new here, first post! Been reading the site's blog and the great posts by you all.  I'm impressed by what I see here!  Lot's of know-how an a willingness to share!

So, thank-you Deskjockey2028 for starting this thread!  Looks like there's a lot of us 40+ readers out there not technically retiring early but seeing the finish line in site!  I'm 52 and looking to bow out of full time work at 60.  House will be paid, no credit-card bills, no other debt.  The last kid will turn 17 by then.  I'd like to be fully "work-optional" by 62 and I think by reading the great info on this site I should easily be able to get there!  Sell the big, dumb 5-bedroom McMansion and downsize to something about 1/2 that size and use the extra to either invest wisely or put into a rental property.

Again, thanks so much for this thread, I was feeling like I'd missed the early train.  Looks like I'm not alone!

Ps.  it's fecking hard to make a first post on this forum!   Jayz!!
Welcome, henramdrea! If you're US based, and you know will be selling your house to downsize, it could be more advantageous to funnel money into investments first and let the mortgage ride. Lots of friendly discussion here:

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/dont-payoff-your-mortgage-club/

Thanks Dicey for the thread.  Should be required reading for any of us with a mortgage still.  I was leaning in the direction you pointed out (investment vs. physical property rental) mainly due to the amount of work involved. It's that lazy smart, self-protective streak :)
FTFY

GodlessCommie

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #216 on: July 12, 2019, 11:13:28 AM »
Same boat as many of you here. We always lived fairly frugally and saved, but lacked direction and focus. I don't think I have any chance to retire early by the FIRE standards - but the amount of work my job requires is such that it's not very different from early retirement, it pays well and is close by. We chose not to adhere to MMM principles 100% - like we paid for our kids' college degrees, and didn't get into commuting by bike (we drive older EVs). Still, the site and the forum proved to be immensely valuable.

LateToTheParty

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #217 on: July 13, 2019, 07:56:12 AM »
Hi to the newer folks who also arrived late to the party.

Since my last check-in on this thread, we have optimized our cell phone plans and our auto insurance, and I continually work on the grocery budget. But the biggie is that we FSBO’d the clown house! We have downsized into renting a 2 bedroom apartment in a walkable, close in location. We are loving it.

Savings rate now 85%.  DH will FIRE in 18 months at age 55, and I will continue to work part time for healthcare for a while. I have 7 additional years (golden handcuffs) unless I just decide to be done sooner. A lot depends on ACA for us.

FIREstache

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #218 on: July 13, 2019, 09:22:22 AM »
Savings rate now 85%.  DH will FIRE in 18 months at age 55, and I will continue to work part time for healthcare for a while. I have 7 additional years (golden handcuffs) unless I just decide to be done sooner. A lot depends on ACA for us.

Congrats on the 85% savings rate.  I have gotten into the low 80's in some recent years, but I'm a single earner household.

The ACA is critical for me as well - hope to FIRE at 55.

CindyBS

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #219 on: July 13, 2019, 12:13:35 PM »
I discovered MMM around 40 and got more serious about savings then, but had read "Your Money or Your Life" about a decade before and was always by nature a saver, so we had a pretty solid financial footing before finding MMM and FIRE.

We will retire with Dh in his mid 50's and me in my late 40's.  We have a son with multiple disabilities and have chosen for me to not work full time to accommodate therapy/doctor appointments, no after school care, etc.  Up until this year I was out of work for years due to his health issues and I still only work 25-30 hours per week.  That has impacted our FIRE date more than anything else, I estimate that if we had able-bodied, neurotypical kids only (I do have 1 son that is not disabled), we would have retired 10 year earlier. 

PhrugalPhan

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #220 on: July 13, 2019, 04:38:08 PM »
I was always fairly frugal, learned it from my grandmother and a little from my mother.  Married a semi-spendy wife and stayed out of debt but never could get ahead - she would make sure to spend any savings I could scrape together.  Started reading online mid 90s about investing (yeah, very basic web browsing back then).  Anyway, bought fixer upper house at 36 y.o. and had about $0 net worth at the time.  I first found the ERE site mid 2000's, then MMM maybe 2011-ish(?) and just lurked here for a few years.  Anyway I like to think I started towards my trip toward FIRE at around 40 y.o. (would be 2002 for me).

From then to today, I survived 18 mos. unemployment (2002-03) & a drawn out divorce (2009), and I have come out stronger.  Today at 56 I have $1 Mil investments, paid off house & car, no debts, will retire in 3+ years with large pension, and have GF who just retired with $1 Mil TSP and pension of her own.  Retiring at 60 isn't really early, but I look at it as going from zero to retire in 20 years, which isn't bad.

Exflyboy

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #221 on: July 13, 2019, 07:04:44 PM »
I was always fairly frugal, learned it from my grandmother and a little from my mother.  Married a semi-spendy wife and stayed out of debt but never could get ahead - she would make sure to spend any savings I could scrape together.  Started reading online mid 90s about investing (yeah, very basic web browsing back then).  Anyway, bought fixer upper house at 36 y.o. and had about $0 net worth at the time.  I first found the ERE site mid 2000's, then MMM maybe 2011-ish(?) and just lurked here for a few years.  Anyway I like to think I started towards my trip toward FIRE at around 40 y.o. (would be 2002 for me).

From then to today, I survived 18 mos. unemployment (2002-03) & a drawn out divorce (2009), and I have come out stronger.  Today at 56 I have $1 Mil investments, paid off house & car, no debts, will retire in 3+ years with large pension, and have GF who just retired with $1 Mil TSP and pension of her own.  Retiring at 60 isn't really early, but I look at it as going from zero to retire in 20 years, which isn't bad.

You are both retiring with a large pension plus $2M in savings.. Not bad at all.. Why arn't you done now?

Prairie Gal

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #222 on: July 15, 2019, 06:54:47 PM »
I found MMM at age 54. shortly after my DH passed away. I had a huge heloc to pay off. Using the strategies on the website, I put my nose to the grindstone and paid if off in two years. In the years since I have saved and invested a small stache, and down-shifted my working hours (and still invest $1000 per month, even on part time pay). I won't be able to retire very early, but as someone said upthread that at least I will have the peace of mind of no debt and a small stache, in addition to CPP and OAS. I am also living life more in the moment, and savouring each day. 

Dicey

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #223 on: July 16, 2019, 01:34:04 AM »
I found MMM at age 54. shortly after my DH passed away. I had a huge heloc to pay off. Using the strategies on the website, I put my nose to the grindstone and paid if off in two years. In the years since I have saved and invested a small stache, and down-shifted my working hours (and still invest $1000 per month, even on part time pay). I won't be able to retire very early, but as someone said upthread that at least I will have the peace of mind of no debt and a small stache, in addition to CPP and OAS. I am also living life more in the moment, and savouring each day.
Ouch, sorry to hear about the loss of your husband. You've done an amazing job of regrouping after such a severe loss.

Also, love your tag line, loved the song, never saw the movie...

beeboy

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #224 on: July 16, 2019, 11:02:57 AM »
Should we form a club or something?

I love reading about everyone's FIRE experiences - what they're doing to achieve their goals, how they'll reach FI and what they'll do once they've RE'd. But I and the few folks here who are over 40 that I've already chatted with don't always fall into those same camps.

On my 40th birthday, I had a negative net worth. Now that I'm closing in on 45, I've got a decently positive net worth but I'm still a good 11-12 years from FIRE. I've got a family, already have kids and am married. I don't plan on slow-traveling or retiring to a LCOL country because everyone I know is here, including my family. By the time I do retire, my kids will be in their early 20s and I want to be around (assuming they stick nearby too) so that I can remain a part of their lives and the lives of any kids they may have.

I think some of us 40 and 50 and 60-somethings will share similarities with those who are able to retire much earlier, and others won't.

Who else is out there that's in this boat with me?

I was over 40 when I heard of the official concept of FI/RE and stumbled upon MMM, but I had been wanting and thinking of retiring early for a while. Quick story - I worked at a newspaper in college one summer and must have written about 90 obituaries - 9 times out of 10 the guy had just retired a few months ago or a week ago, or was about to retire in a week or month, and didn't make it. I decided after that summer that would never be me. 

I knew people retired early, but didn't know there was a whole movement dedicated to it or know their was a formula or about the 4% rule, etc. In my 20s I didn't save very much at all (except for 401k contributions), but in my early 30s I really started making a great salary, not overspending on too many unnecessary/extravagant purchases, while saving as much as I could, investing alot in savings and brokerage accounts, while still contributing to the 401k, etc.

Once I noticed I had a good amount saved/invested, I started googling "can I retire early" and "is X amount enough to retire on at X age" and that's when I discovered that there's a whole community of like-minded people out there and learned about firecalc and the math behind FI/RE. Luckily, without really knowing about concepts of FI/RE, I was already planning, saving, investing and well on my way.

Although, even now, I'm still not like most MMMers, as I'm not a super duper expense cutter nor extreme saver nor am I totally invested in passive index funds (although I do own some in both my brokerage and 401k), but I do have bills (love my cable and do love to go out), I have quite a bit invested in a diversified portfolio of individual equities, too much in cash/CDs and even a variable annuity - I know, the horror! however, the annuity is less 10% of my overall investments and I like the idea of getting a guaranteed check each month/quarter, especially since I don't have a pension. Boy, those who can still get a pension (like my dad) are really the lucky ones.

BTW - I'm 45 now, but planing on FI/RE-ing next year at 46. While it's scary and I'm not 100% sure, this place is a great resource and virtual proving ground that shows people FI/RE can be done, no matter the age!
« Last Edit: July 16, 2019, 11:04:47 AM by beeboy »

Bettersafe

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #225 on: March 14, 2020, 07:51:33 AM »
Little bump up for this topic :-)

About 3 weeks ago I signed up for the Forums, found MMM about 2 weeks before that.

At the moment 44 yo, married to DH and 2 kids (11 and 9yo). DH is amused when I tell him of my plans but not on board yet with ER. Although my NW is in the positive, it's manly invested in pension-plans. MMM put me on the path of FU-money, fat cushion etc. and I'm getting everything in place to start building those. During our working lives we managed to get along financially but the financial crisis of 2017 and a bankruptcy of the construction company who just took down our kitchen, bathroom and the backside of our house made us struggle for quit a while.

Hope to RE in 2033, but.... with this Corona..... I don't know if it will be possible. I've no fear of unemployment (I'm a physician) but no way of telling if the investements will be doing what they should be doing in the next couple of years.

AnxietyFly

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #226 on: April 30, 2020, 06:49:14 AM »
I found this website a couple days before I turned forty. My dream to be financially stable started at an early age because my parents had a lot of money problems when I was growing up. I started investing 18% of my weekly paychecks when I was 18.  Consistently been doing it ever since.  Looking forward to being financially independent. The best case scenario is that I'll retire in ten years. Most probable scenario is that I retire in fifteen years at 55.  Worst case scenario is that I hold out until I'm sixty. 

bmjohnson35

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #227 on: April 30, 2020, 08:08:37 AM »

I have always intended to retire early, but I didn't discover the FIRE movement until around 4 yrs ago.  The biggest multiplier for me was a bad experience at work. During around the same time, I read "The Simple Path to Wealth."  Between reading this book and my bad experience at work, I became very "motivated" to focus on early retirement.  Although I was always headed in the general direction of FIRE, these two events really got me focused on the goal.  Discovering ESI, MMM and other FIRE sites opened up further resources to support my progress.  Looking back, I suppose that situation at work was a blessing.

BJ

4tify

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #228 on: April 30, 2020, 08:19:35 AM »
I found ERE & MMM when I was about 42. I was still in a lot of student loan & credit card debt but shifted gears after a death in the family woke me up. Thank god I found this amazing community! Now 10 years later (I'm 52) I've crossed LeanFI and on my way to FatFI. Hoping to make the jump by 55 :)

Stick with it! This stuff works!

myobjectivism

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #229 on: April 30, 2020, 12:51:26 PM »
Hi.. I found FIRE concept exist couple of years back when I was 41. And started researching about it and now at the age of 43, moving towards FIRE lifestyle.

Will be starting my FIRE lifestyle from next month. Found this website couple of days back and lot of interesting stuff related to FIRE and I am enjoying it.

I will also keep positing my experiences once I start FIRE n xt month.

So far my status is.. informed employer 9 months back about this, moving from UK to India next month (assuming no travel ban), busy with settling down after relocation including kids schools etc.

Looking forward for it.

nessa

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #230 on: May 05, 2020, 10:56:52 AM »
I've been lurking the forums (after devouring the MMM website!) for a couple months - de-lurking to participate as a member now that this thread has been bumped.

I discovered FIRE around 2008, when I got a copy of Your Money Or Your Life (bought with a gift card - was super proud of that!).

Never seemed like I could 'make it work' although the super-frugal independence movement has always called to me.

Jump to 2017, age 45, life takes a huge detour and now FIRE can be a reality. I'm 47, hit the ground running in January once I paid off several lingering debts, and plan to FIRE in 2027/2028, when I turn 55.

It's nice to see other Genxers here.

DeskJockey2028

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Re: Are there other folks here who didn't discover FIRE until after 40?
« Reply #231 on: May 05, 2020, 10:58:21 AM »
Great to see this thread jump back to life every six months or so! I still enjoy reading everyone's stories and love that we're not alone in our age bracket!