Author Topic: Do you share your FIRE journey with friends?  (Read 9571 times)

helloyou

  • Bristles
  • ***
  • Posts: 333
Do you share your FIRE journey with friends?
« on: July 10, 2020, 08:23:54 PM »
Hello

I realised recently that I have about enough to be FIRE (https://forum.mrmoneymustache.com/case-studies/is-it-good-enough-to-fire/) but I don't have any friend to talk about that.

I usually never talk finance with my friends because that's not the type of discussion they are interested in. And very often they think I'm obsessed by it and just talk about money lol.

Also, I don't like to share because most of them are broke and I'm a bit worried they'll start asking me for favors or to pay when we go out if they know I have a significant amount of cash saved.

But these days I feel I achieved a great milestone, that I can make some plan to travel and that I can start forgetting about working...

However when talking to my friend I just say I want to take some time to travel a bit and see the world. I never told any of them I actually don't want to work anymore and just want to travel. That may make them jealous I don't know.

Any of you in this situation? Do you tell everyone? Or just some friends? Or is it a bit of a secret like me at the moment?
« Last Edit: July 10, 2020, 08:38:25 PM by helloyou »

PhrugalPhan

  • Bristles
  • ***
  • Posts: 321
  • Age: 61
  • Location: No. VA
Re: Do you share your FIRE journey with friends?
« Reply #1 on: July 10, 2020, 08:32:29 PM »
Just one buddy at work I talk about it.  And as I am trying to hang in there until my pension becomes fully vested, its not really FIRE (can you say 60 years old is FIRE?).  That said, he has loved to hear about how I handle my finances and has changed the way he does a few things and has been maxing out his 457 plan the last few years.  He had no interest before, but now he realizes it needs to be done to have a decent retirement and is happy he is doing it.  But other than him, nope.  I can see how it could come off really bad if I went down that road with most people.

Zikoris

  • Magnum Stache
  • ******
  • Posts: 4551
  • Age: 37
  • Location: Vancouver, BC
  • Vancouverstachian
Re: Do you share your FIRE journey with friends?
« Reply #2 on: July 11, 2020, 01:05:48 AM »
If it's relevant or a shared interest, for sure. A lot of stuff about me would is incredibly confusing if the FIRE aspect is omitted. Like not pursuing a career, despite being very capable of doing so if I wanted to. A number of people over the years have figured out that I must have a huge gap between income and spending due to observable things (cheap apartment, no car, no kids, no vices, not buying stuff), and wondered what the reason for it was, given my vocal opposition to normal things a person might be saving for (house, wedding, etc). I'm also pretty vocal about wanting to leave the city and move to a remote-ish island in a few years, which is baffling without a FIRE framework. Basically, FIRE kind of ties a lot of things together and makes me seem less like a lunatic, which is always a good thing.

tawyer

  • Bristles
  • ***
  • Posts: 262
Re: Do you share your FIRE journey with friends?
« Reply #3 on: July 11, 2020, 06:57:27 AM »
I don't share it directly at all. Indirectly, people I spend any time around seem to determine that I am variably minimalist/environmentally conscientious/family-focused/cheap, all of which I can talk about ad nauseum if they want to!

Much Fishing to Do

  • Handlebar Stache
  • *****
  • Posts: 1141
Re: Do you share your FIRE journey with friends?
« Reply #4 on: July 11, 2020, 07:00:27 AM »
Just with the one close friend that is somewhat similar in earning history (extremely variable income thru businesses start-ups, etc, I think we've both seen all tax brackets and just about any earning year can be the best or the worst).  His family is a little more spendy but he also can have larger up years.  We don't ever share exact numbers (I think because our wives are great friends....) but in general he knows I'm just hitting FI and I know he's probably just a few years away.  It does make for interesting conversations as we are different in many ways.  I think he wants to hit FI just for the security, esp due our extremely volatile income history its always easy to picture at some point the years wont average out (understandable given he has 5 kids).  But unlike me I don't think he feels the need to RE, so I'm sure 10 years from now he'll be much wealthier than me....

BookLoverL

  • Bristles
  • ***
  • Posts: 431
  • Location: England
Re: Do you share your FIRE journey with friends?
« Reply #5 on: July 11, 2020, 08:03:11 AM »
At the start when I first discovered FIRE I got overexcited about it and talked to some friends about it, but because they were in a different place mentally regarding finances, it ended up causing tension in the relationships with people I brought it up with. So now I try to only bring it up with friends who I've scoped out in advance with other related conversation topics as being likely to be open to the idea of it.

Icecreamarsenal

  • Pencil Stache
  • ****
  • Posts: 600
  • Location: New Jersey
  • Burnt
Re: Do you share your FIRE journey with friends?
« Reply #6 on: July 11, 2020, 08:51:29 AM »
At the start when I first discovered FIRE I got overexcited about it and talked to some friends about it, but because they were in a different place mentally regarding finances, it ended up causing tension in the relationships with people I brought it up with. So now I try to only bring it up with friends who I've scoped out in advance with other related conversation topics as being likely to be open to the idea of it.

Yes, I used to evangelize.  This is not water you can be led to, though, as I came to realize.  Now I only do it drunkenly.

okits

  • CMTO 2023 Attendees
  • Senior Mustachian
  • *
  • Posts: 13072
  • Location: Canada
Re: Do you share your FIRE journey with friends?
« Reply #7 on: July 11, 2020, 09:18:19 AM »
We'll share a little based on what friends seem open to.  My closest friends know we have an ER goal and are also interested in FIRE or at least wealth accumulation.  Some other friends, we talk about wanting breathing room from the career grind, which they understand. 

I've made quite a few friends on this forum where the shared mindset doesn't have them wondering why I'm adopting environmentally-friendly, DIY behaviours.  They're a great source of support, information, and learning (I have gotten so many good recipe recommendations from this community!)

bbqbonelesswing

  • Bristles
  • ***
  • Posts: 319
  • Age: 31
  • Location: Philly
Re: Do you share your FIRE journey with friends?
« Reply #8 on: July 11, 2020, 09:32:23 AM »
At the start when I first discovered FIRE I got overexcited about it and talked to some friends about it, but because they were in a different place mentally regarding finances, it ended up causing tension in the relationships with people I brought it up with. So now I try to only bring it up with friends who I've scoped out in advance with other related conversation topics as being likely to be open to the idea of it.

+1 to this. I usually keep my finances private, and talk only with my fiance and one close friend, unless asked. I've found that more often than not it breeds jealousy or people start trying to take advantage. Like, I'm not going to start footing the bill for drinks just because I'm frugal and have more money- but not everyone sees it that way. So, best to keep it quiet.

ixtap

  • Magnum Stache
  • ******
  • Posts: 4583
  • Age: 51
  • Location: SoCal
    • Our Sea Story
Re: Do you share your FIRE journey with friends?
« Reply #9 on: July 11, 2020, 09:36:00 AM »
We share our attitude of phrasing our spending as a choice. Some people are resistant even to that: "Easy for you, you don't have kids" Uh, yeah, that also falls into the category of choice...

However, the message has resonated with a few. I don't know if they changed any behaviors, but some have come back and said that rephrasing things as "I choose not to," rather than "I can't afford to" has been helpful for them mentally.

MudPuppy

  • Handlebar Stache
  • *****
  • Posts: 1468
Re: Do you share your FIRE journey with friends?
« Reply #10 on: July 11, 2020, 09:39:49 AM »
We talk about what we do with our money (use a budgeting software, max employer sponsored retirement accounts, plan ahead, have an emergency fund) and ways we make frugal choices. We don’t typically talk about early retirement as the goal because to many people that seems so pie in the sky that they lose the rest of the discussion. I do often say things like “I  don’t want to work forever”

John Galt incarnate!

  • Handlebar Stache
  • *****
  • Posts: 2038
  • Location: On Cloud Nine
Re: Do you share your FIRE journey with friends?
« Reply #11 on: July 11, 2020, 09:54:39 AM »
Hello

I realised recently that I have about enough to be FIRE (https://forum.mrmoneymustache.com/case-studies/is-it-good-enough-to-fire/) but I don't have any friend to talk about that.

I usually never talk finance with my friends because that's not the type of discussion they are interested in.

I'm a FIREee. It's the same for me with some of my friends.


Also, I don't like to share because most of them are broke and I'm a bit worried they'll start asking me for favors or to pay when we go out if they know I have a significant amount of cash saved.

This is not a concern for me as they all have enough money for needs and wants.



However when talking to my friend I just say I want to take some time to travel a bit and see the world. I never told any of them I actually don't want to work anymore and just want to travel. That may make them jealous I don't know.

Since you don't know I think it's politic not to tell them.



Do you tell everyone?

No.

I have some acquaintances  that don't know I'm FIREd.




« Last Edit: July 11, 2020, 09:57:38 AM by John Galt incarnate! »

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17610
Re: Do you share your FIRE journey with friends?
« Reply #12 on: July 11, 2020, 11:07:27 AM »
Every conversation that has anything to do with lifestyle is fundamentally a conversation about personal finance, so you do actually talk about with with pretty much everyone close to you, it's just a matter of talking to them in their own comfort zone.

As for friends asking you to pay for things, that's not a financial disclosure issue, that's a boundaries issue. I have plenty of friends worth boat loads more than I am and I would never expect them to pick up the bill just because of that. That's absurd.

LWYRUP

  • Handlebar Stache
  • *****
  • Posts: 1059
Re: Do you share your FIRE journey with friends?
« Reply #13 on: July 11, 2020, 11:29:52 AM »
My sister knows I follow MMM though not all the details.  I have told one friend "we are not all that far off from done" but not the details.  He makes more than me and had a fancy house and comes from a wealthy family with a brother in private equity so I don't think it shocked him or anything. 

Generally I keep my lips sealed though anyone that knows me well knows I pay close attention to my finances and save money.  But they have no idea that may mean "retirement in 40s" rather than "pay off mortgage early then buy a vacation house in 50s."

I live in a very prosperous metro so I'm small potatoes around here.  Nobody would be impressed with my income or lifestyle.  However, there are a ton of people on the $300k, 60 hour per week spend all the money treadmill and some of them would have their minds blown to realize that with a series of slightly different choices they could actually cut their working years in half.

SwordGuy

  • Walrus Stache
  • *******
  • Posts: 8967
  • Location: Fayetteville, NC
Re: Do you share your FIRE journey with friends?
« Reply #14 on: July 11, 2020, 12:03:05 PM »
I share information about FIRE on my FB page.

I'll point out that information to my liberal friends who don't think that anyone can get ahead in the US.   If they post stuff like that, I post facts that prove people in the middle class have the resources to get wealthy and either don't know how or choose not to.    I freely admit that it's hard as hell to get from poverty into a steady middle class income and that our social policies should make that a hell of a lot easier.

If someone appears interested, I'll share FIRE information with them.

I don't share where we are on that journey other than it's now kinda obvious we've been retired for the last 2+ years.   My business buddy, realtor and estate attorney, plus our son, know the general nature of our finances.   There's no need to share that level of detail with the general public.

TheFrenchCat

  • Bristles
  • ***
  • Posts: 348
Re: Do you share your FIRE journey with friends?
« Reply #15 on: July 11, 2020, 12:52:28 PM »
Just my best friend, and that is pretty much just sharing blog posts.  And that's pretty much because I know she's interested in retiring early too.  I don't talk about exact details with anyone but my husband, who's on board. 

simonsez

  • Handlebar Stache
  • *****
  • Posts: 1584
  • Age: 37
  • Location: Midwest
Re: Do you share your FIRE journey with friends?
« Reply #16 on: July 11, 2020, 02:35:36 PM »
Yes.  I feel like they would only be acquaintances if they didn't know anything about my life beyond a rudimentary level.  It would be also strange if I had a friend who wasn't aware that I enjoy playing cards, living on lake time, lounging on patios, having a drink with friends, deep talks by the fire, trivia, etc.

I have a similar sentiment to @Malkynn on this, it's hard for me to imagine a friend not knowing anything about my plans to be financially secure and retire a bit earlier than normal.  Lifestyle and personal finance are so intertwined.

Do I share exact numbers or the minutiae of my FIRE plan?  Not usually but I do have some friends who reach out to me and we have deeper discussions every now and then.  I don't really have much to hide and feel, perhaps naively, that only good can come from others asking/discussing/knowing a little bit more about personal finance than they might otherwise if they never knew me. 

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17610
Re: Do you share your FIRE journey with friends?
« Reply #17 on: July 11, 2020, 04:07:23 PM »
Yes.  I feel like they would only be acquaintances if they didn't know anything about my life beyond a rudimentary level.  It would be also strange if I had a friend who wasn't aware that I enjoy playing cards, living on lake time, lounging on patios, having a drink with friends, deep talks by the fire, trivia, etc.

I have a similar sentiment to @Malkynn on this, it's hard for me to imagine a friend not knowing anything about my plans to be financially secure and retire a bit earlier than normal.  Lifestyle and personal finance are so intertwined.

Do I share exact numbers or the minutiae of my FIRE plan?  Not usually but I do have some friends who reach out to me and we have deeper discussions every now and then.  I don't really have much to hide and feel, perhaps naively, that only good can come from others asking/discussing/knowing a little bit more about personal finance than they might otherwise if they never knew me.

I think a lot of people are able to be close to others and have no clue what their financial situation is, so it's not a given that close friends will always be aware of each other's circumstances.

However, that's largely due to one or both parties either lacking the knowledge or interest in order to be able to infer and deduce.

I'm keenly interested in people's personal finances, so when I take a genuine interest in who they are, what's important to them, and what stresses them, I'm picking up tons of signals along the way that can build a pretty unambiguous picture of their financial situation without ever asking anything about numbers.

Money is just a placeholder for time and energy, so understanding what time and energy means to someone is all it takes to understand their finances.

Fomerly known as something

  • Handlebar Stache
  • *****
  • Posts: 1642
  • Location: CA
Re: Do you share your FIRE journey with friends?
« Reply #18 on: July 11, 2020, 04:53:57 PM »
Like Phrugalphan I have a pension except mine allows me to pull the cord at 47.  I’m very free with the rack I will be leaving then, that I have maxed out my TSP my whole career, I have investments outside of TSP, that I made 30% in 4 years on my last house, that I’m frugal, that I kept my first car for 15 years and that I will not have a “retirement job”.  I don’t mention my brokerage + Roth is 45% of my portfolio or how much that 30% was.

simonsez

  • Handlebar Stache
  • *****
  • Posts: 1584
  • Age: 37
  • Location: Midwest
Re: Do you share your FIRE journey with friends?
« Reply #19 on: July 11, 2020, 06:28:12 PM »
Yes.  I feel like they would only be acquaintances if they didn't know anything about my life beyond a rudimentary level.  It would be also strange if I had a friend who wasn't aware that I enjoy playing cards, living on lake time, lounging on patios, having a drink with friends, deep talks by the fire, trivia, etc.

I have a similar sentiment to @Malkynn on this, it's hard for me to imagine a friend not knowing anything about my plans to be financially secure and retire a bit earlier than normal.  Lifestyle and personal finance are so intertwined.

Do I share exact numbers or the minutiae of my FIRE plan?  Not usually but I do have some friends who reach out to me and we have deeper discussions every now and then.  I don't really have much to hide and feel, perhaps naively, that only good can come from others asking/discussing/knowing a little bit more about personal finance than they might otherwise if they never knew me.

I think a lot of people are able to be close to others and have no clue what their financial situation is, so it's not a given that close friends will always be aware of each other's circumstances.

However, that's largely due to one or both parties either lacking the knowledge or interest in order to be able to infer and deduce.

I'm keenly interested in people's personal finances, so when I take a genuine interest in who they are, what's important to them, and what stresses them, I'm picking up tons of signals along the way that can build a pretty unambiguous picture of their financial situation without ever asking anything about numbers.

Money is just a placeholder for time and energy, so understanding what time and energy means to someone is all it takes to understand their finances.
Hey, whatever works.  I'm not saying there is a right or wrong way to have friends, every friendship is unique - was just answering the OP as it pertained to me.  Also, maybe my definition of friend is more intimate than the general use of the word or at least as posed by the OP.  I generally know what my friends' careers are, who their parents are or a good idea of their extended family situation (if relevant), how many kids they have, where they live and what their house is like, their travel plans, etc.  It's hard to not naturally impute from the lifestyle about what the personal finances are like.  Plus we explicitly talk all the time about careers, life, the nebulous future, where we want to be, what our next house will be like, kids, joint travel plans, bridging the gap from retirement to pension/SS, healthcare, estate planning, all that jazz - it's what we talk about.  These are people that I usually see multiple times a month if they live nearby, or a good chunk on the phone/Zoom if they're long distance.

I have plenty of acquaintances* to talk about the weather and sports and other mundane things whenever I run into them.  Do I know about their lifestyles and/or personal finances?  Definitely not as well as my friends, but I'm likely not talking FIRE or making plans with them or helping them out with something or asking them to help me out with something either.

*It would be normal to refer to these people as friends, in passing.  So I guess I should say I talk about more intimate subjects with my more intimate friends and that inference, context, and other signals are also easier to pick up on the more you know someone (but ugh, that answer made me bored as I typed it).

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17610
Re: Do you share your FIRE journey with friends?
« Reply #20 on: July 11, 2020, 06:48:42 PM »
Yes.  I feel like they would only be acquaintances if they didn't know anything about my life beyond a rudimentary level.  It would be also strange if I had a friend who wasn't aware that I enjoy playing cards, living on lake time, lounging on patios, having a drink with friends, deep talks by the fire, trivia, etc.

I have a similar sentiment to @Malkynn on this, it's hard for me to imagine a friend not knowing anything about my plans to be financially secure and retire a bit earlier than normal.  Lifestyle and personal finance are so intertwined.

Do I share exact numbers or the minutiae of my FIRE plan?  Not usually but I do have some friends who reach out to me and we have deeper discussions every now and then.  I don't really have much to hide and feel, perhaps naively, that only good can come from others asking/discussing/knowing a little bit more about personal finance than they might otherwise if they never knew me.

I think a lot of people are able to be close to others and have no clue what their financial situation is, so it's not a given that close friends will always be aware of each other's circumstances.

However, that's largely due to one or both parties either lacking the knowledge or interest in order to be able to infer and deduce.

I'm keenly interested in people's personal finances, so when I take a genuine interest in who they are, what's important to them, and what stresses them, I'm picking up tons of signals along the way that can build a pretty unambiguous picture of their financial situation without ever asking anything about numbers.

Money is just a placeholder for time and energy, so understanding what time and energy means to someone is all it takes to understand their finances.
Hey, whatever works.  I'm not saying there is a right or wrong way to have friends, every friendship is unique - was just answering the OP as it pertained to me.  Also, maybe my definition of friend is more intimate than the general use of the word or at least as posed by the OP.  I generally know what my friends' careers are, who their parents are or a good idea of their extended family situation (if relevant), how many kids they have, where they live and what their house is like, their travel plans, etc.  It's hard to not naturally impute from the lifestyle about what the personal finances are like.  Plus we explicitly talk all the time about careers, life, the nebulous future, where we want to be, what our next house will be like, kids, joint travel plans, bridging the gap from retirement to pension/SS, healthcare, estate planning, all that jazz - it's what we talk about.  These are people that I usually see multiple times a month if they live nearby, or a good chunk on the phone/Zoom if they're long distance.

I have plenty of acquaintances* to talk about the weather and sports and other mundane things whenever I run into them.  Do I know about their lifestyles and/or personal finances?  Definitely not as well as my friends, but I'm likely not talking FIRE or making plans with them or helping them out with something or asking them to help me out with something either.

*It would be normal to refer to these people as friends, in passing.  So I guess I should say I talk about more intimate subjects with my more intimate friends and that inference, context, and other signals are also easier to pick up on the more you know someone (but ugh, that answer made me bored as I typed it).

Don't get me wrong, same here. Most of my close friends are very open with me about their personal finances and vice versa. A lot of people aren't. I know of married couples who literally don't know each other's finances. Hell, we've seen multiple cases of that on this very forum.

K_in_the_kitchen

  • Pencil Stache
  • ****
  • Posts: 674
Re: Do you share your FIRE journey with friends?
« Reply #21 on: July 11, 2020, 07:35:43 PM »
Not really.  My friends know we're frugal.  Some know we had plans to pay off our mortgage before retirement, they just don't know we achieved that and are in a position to pull the plug on paid work when we want to.  I have a couple of friends I would talk money with more in detail, but they've moved away and catching up every few years doesn't usually involve that kind of talk.

Mostly, talking about FIRE and finances in general can feel insensitive.  It's easier for DH since the vast majority of his friends are in his field, earn similar salaries, and several of them are FI or close to FI even if they don't want to retire.  My friends for the most part are lower income (which doesn't have to be a barrier) and have hit various financial setbacks like job losses, etc.  I can't listen to a friend tell me she's worried because unemployment's about to run out, only to share that we plan to FIRE within a few years.  And I don't offer anyone financial advice if they don't ask first.

helloyou

  • Bristles
  • ***
  • Posts: 333
Re: Do you share your FIRE journey with friends?
« Reply #22 on: July 11, 2020, 08:06:35 PM »
Not really.  My friends know we're frugal.  Some know we had plans to pay off our mortgage before retirement, they just don't know we achieved that and are in a position to pull the plug on paid work when we want to.  I have a couple of friends I would talk money with more in detail, but they've moved away and catching up every few years doesn't usually involve that kind of talk.

Mostly, talking about FIRE and finances in general can feel insensitive.  It's easier for DH since the vast majority of his friends are in his field, earn similar salaries, and several of them are FI or close to FI even if they don't want to retire.  My friends for the most part are lower income (which doesn't have to be a barrier) and have hit various financial setbacks like job losses, etc.  I can't listen to a friend tell me she's worried because unemployment's about to run out, only to share that we plan to FIRE within a few years.  And I don't offer anyone financial advice if they don't ask first.

Yeah thats exactly my case.

I constantly hear them saying they are sick of doing small job and that life is hard in London or that they want to move from an £8/h job to what they call an 'office job' (as if it would be so much better to sit in front of a computer...) to have a better life..

I don't even mention my salary which can easily be 5x what they make, and I feel it would sound like bragging to talk to them about my FIRE achievement.


Funnily, a lot of them think I'm in similar situation. And that I earn a just little bit better because I have an "office" job and that most thing they can't afford such as a car, their own flat is also something I can't afford because I have similar lifestyle to them!

Monerexia

  • Bristles
  • ***
  • Posts: 309
Re: Do you share your FIRE journey with friends?
« Reply #23 on: July 11, 2020, 08:23:12 PM »
With a very financially secure friend I've known since we were four years old. He's a spendypants and we joke about it and nothing's ever personal--he's fine with buying boats and has privileged present spending over saving and is fine with working and will no doubt retire comfortably. Other family know i have money but that has led to them calling me for emergencies--and from now on btw, not another penny regardless the reason. Ever. They can't comprehend not living paycheck to paycheck and some have made choices that make it difficult for them to not do that. Nobody who's cornered forever wants to hear about someone else's freedom and--a little rant--my view is I have told, shown and demonstrated the way to stability for over two decades and they have not bothered to apply any of it, so why should i care more about their life more than they do?

rmorris50

  • Bristles
  • ***
  • Posts: 454
Re: Do you share your FIRE journey with friends?
« Reply #24 on: July 12, 2020, 10:32:05 AM »
I don't get into specifics with friends and try not to talk finances. Once in a while I'll mention wanting to retire early in job/career type conversations and I get the "you have three heads" look or the "you're too young, what would you do?" question. I guess most people  just accept the fact they will be working until they drop and they can't avoid the grind. I get it, I feel the same way about trying to get six-pack abs. It's hard.

But, you would think these people are doing awesome financially by their Instagram feeds. Nice vacations/adventures, traveling the world, always on some sort of trip, a night on the town, etc.

I'm 46 and want to retire no later than 50. Retiring at 50 is early, but not SO early that people would find that impossible to believe.

It'll be interesting to see what happens in society going forward. Intertwined with/underneath the BLM protests I think were economic protests, the proletariat being taken advantage of by the bourgeoisie. Wealth disparity is just going keep getting even worse, I can't imagine some tipping point not coming. When is the question.

John Galt incarnate!

  • Handlebar Stache
  • *****
  • Posts: 2038
  • Location: On Cloud Nine
Re: Do you share your FIRE journey with friends?
« Reply #25 on: July 12, 2020, 10:41:04 AM »
I did not tell anyone I was FIREd or planning to FIRE. Just said I was taking a long work break to do other stuff and would eventually go back to work. I still tell new people I work from home or remotely. Even now many years into the FIRE people are still judgemental.

I'll never forget the look of visceral hatred  on J.'s face.


3/19/19 Do any of you flat out lie about keeping a job?


I used to live a small town in which I used a  local bank for most of my financial transactions.

Eventually all the tellers came to know  that I was FIREd.

One day I was in the local supermarket in an aisle by myself when J., one of the  tellers, entered the aisle at the other end.

As soon as she saw me her mien changed.

 No longer was she a nonchalant shopper; she was furious and viscerally resentful.

She said to me  "Oh, you have to eat too."

Ever since, when I meet people,  I  am very guarded about my financial/FIREd status.



the_fixer

  • Handlebar Stache
  • *****
  • Posts: 1252
  • Location: Colorado
  • mind on my money money on my mind
Re: Do you share your FIRE journey with friends?
« Reply #26 on: July 12, 2020, 11:08:08 AM »
I have shared with one friend when he started the Dave Ramsey program, he asked me if my wife and I did the plan because he knew we pay cash for cars and do not have any debt other than our house and are generally frugal (ish).

I gave a basic explanation of what we are shooting for but did not share our financial information, dates and so forth but my wife outed me last weekend that I was planning to retire in the next year or two. Honestly I had not told him because he is about 5 years older than me, still paying off debt and his kids student loans and really proud of where they are at the moment and he is dreaming about retiring to a different country ASAP.

I kind of do not share too much because I do not want to make people feel bad, they have made their choices and we have made ours they all lead us on different paths so no reason to compare.

At work I only share that I put as much away as possible and “hope” to retire before 60.


Sent from my iPhone using Tapatalk

BookLoverL

  • Bristles
  • ***
  • Posts: 431
  • Location: England
Re: Do you share your FIRE journey with friends?
« Reply #27 on: July 12, 2020, 12:20:40 PM »
Even though I stopped telling friends about FIRE, I do sometimes talk about money topics in general. Mostly I've switched to joking that I'm a cheap bastard (even though I consider myself frugal rather than cheap) so that they won't feel bad or question too much further if I'm not spending a lot. Plus I'm low income so it makes sense to people that I wouldn't be able to afford some stuff, even if the reason I "can't afford" it is different than they think.

4tify

  • Bristles
  • ***
  • Posts: 347
Re: Do you share your FIRE journey with friends?
« Reply #28 on: July 12, 2020, 12:32:56 PM »
When I first found MMM/FIRE I told a lot of people about it because I was so excited. Over time I've shared with many people my plan to reach FI and even how far along I am. I've also shared information with colleagues and the younger people I work with to inspire them to get on track early, and to encourage mindful consumption etc.

I find that like most things, only a few here and there take any serious interest. Mostly people don't seem to want to talk about money much. That said, I know at least 4 people I've shared the info with have jumped on the bandwagon and are doing well on their journey.

I also find that the closer I get to FIRE the less I like to talk about the mechanics, though I'd be very happy to discuss with anyone who showed interest.

Christof

  • Pencil Stache
  • ****
  • Posts: 720
  • Age: 47
  • Location: Germany
Re: Do you share your FIRE journey with friends?
« Reply #29 on: July 12, 2020, 01:20:51 PM »
Being one of the company owners makes it a bit more difficult to talk about finances at work. I do share some of the things I do to save money and I mention when I come across special offers that would work for most.

My business partner knows about my FIRE plans in general, because it is kind of relevant to co-owners when the founder of a company retires. Outside of my family I tend not to talk about my plans, but will give advice when asked. I recommended MMM to one of my nephews, so he‘ll be the only one here, other than my wife, who knows who I am in real life.

mspym

  • Walrus Stache
  • *******
  • Posts: 9838
  • Location: Aotearoa
Re: Do you share your FIRE journey with friends?
« Reply #30 on: July 12, 2020, 02:44:48 PM »
My family knows that we are planning to move to NZ in 4-5 years and live by the sea. We'll be 50 by that point, and it's not uncommon for kiwis to work overseas to make bank and then return. We fit enough into the normal narrative of my family (who are all pretty anti - Working For The Man anyway) that they don't dig any further. I am the most open with one of my sisters who had been on the high-income/high-spend path but had a major health problem and is now more mindful of finances and just buying less stuff, which is awesome and I am happy for her.

As for friends here? They also know our rough plan is a tree change or a sea change and again that's common enough and we are of a suitable age where it easily slots into something they understand. I have a couple of intimate friends who I have been very honest about, one of whom is also full steam ahead for FI and one that is really not interested so you can guess which one I go into the details with.

never give up

  • Walrus Stache
  • *******
  • Posts: 7906
  • Location: UK
  • Kindness is free to give and priceless to receive
Re: Do you share your FIRE journey with friends?
« Reply #31 on: July 12, 2020, 03:16:36 PM »
Nope. No one knows. Muwhahaha, muwhahaha, bwahahaha!

Er sorry lost control a little bit there. Anyway, all of my friends have a convoluted link back to my place of work so I stay away from the topic. I can’t really think of how to explain it either, especially the anti-consumerist angle, without sounding judgemental. I have a lot of friends that love their cars!

If I want to talk about it I have my journal friends.

I did once try to approach the subject with a friend who was indulging in significant lifestyle inflation. I asked him if he had heard of hedonistic adaptation. His answer was “No I haven’t, but it sounds amazing!”

I gave up trying to explain anything further.

A mom

  • Stubble
  • **
  • Posts: 110
Re: Do you share your FIRE journey with friends?
« Reply #32 on: July 12, 2020, 03:30:21 PM »
only very close family

MoneyTree

  • Bristles
  • ***
  • Posts: 305
  • Location: SF Bay Area
    • Journal - The Best Time to Plant a MoneyTree
Re: Do you share your FIRE journey with friends?
« Reply #33 on: July 12, 2020, 03:46:30 PM »
I keep things pretty close to the vest, but if relevant topics come up in conversation and I'm asked about it, I'll answer openly.

I will not offer it up on my own initiative "Hey, I'm planning to FIRE. Here's what it is all about." because some people are simply not in a place where they will understand. Its not their fault, but you can't decide for them that they need to hear about FIRE.

But if we're talking about investments, and someone asks how I go about investing, I'll answer their questions. On one or two occasions those people have been a lot more interested and asked more, and I've share more about all the FIRE related strategies I'm pursuing.

That way, it sort of self-selects. The people who are ready to hear more are the ones who will ask more questions. The people that aren't will generally just leave it alone.

helloyou

  • Bristles
  • ***
  • Posts: 333
Re: Do you share your FIRE journey with friends?
« Reply #34 on: July 12, 2020, 05:11:15 PM »
All of these reminds me of my previous flatemate calling me the 'secret millionaire'.

Most of them had small gig or busking job. They were happy when they earned something like £15/h and I had my IT job.

They couldn't understand why I'd live in a shared flat and be as stingy or more stingy than them lol.

I wish I'd be millionaire though! I asked them why they called me secret millionaire and they just said I had money but wanted to save even more!!

To which I said it was absurd because if I was millionaire I wouldn't need to save that hard lol

Bloop Bloop

  • Handlebar Stache
  • *****
  • Posts: 2139
  • Location: Melbourne, Australia
Re: Do you share your FIRE journey with friends?
« Reply #35 on: July 12, 2020, 08:41:34 PM »
I talk finances with most of my close friends.

You should be able to have an honest talk about finances without judgment.

It probably helps that I live a pretty modest lifestyle that isn't going to attract envy.

BussoV6

  • Bristles
  • ***
  • Posts: 287
  • Location: Egoli
Re: Do you share your FIRE journey with friends?
« Reply #36 on: July 13, 2020, 05:12:25 AM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

helloyou

  • Bristles
  • ***
  • Posts: 333
Re: Do you share your FIRE journey with friends?
« Reply #37 on: July 13, 2020, 05:56:31 AM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

Why would you hide from colleagues? Sometime I wonder if I shall tell them I'm gonna just retire!

bluebelle

  • Pencil Stache
  • ****
  • Posts: 647
  • Location: near north Ontario
Re: Do you share your FIRE journey with friends?
« Reply #38 on: July 13, 2020, 12:08:43 PM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

Why would you hide from colleagues? Sometime I wonder if I shall tell them I'm gonna just retire!
kind of impacts your job if your boss catches wind of it before you're ready to tell them.....(raises/bonuses/projects)

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17610
Re: Do you share your FIRE journey with friends?
« Reply #39 on: July 13, 2020, 12:25:58 PM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

Why would you hide from colleagues? Sometime I wonder if I shall tell them I'm gonna just retire!
kind of impacts your job if your boss catches wind of it before you're ready to tell them.....(raises/bonuses/projects)

Depends on the boss and how you construct your relationship with them. It never hurt me to be clear that I didn't need my income.

ixtap

  • Magnum Stache
  • ******
  • Posts: 4583
  • Age: 51
  • Location: SoCal
    • Our Sea Story
Re: Do you share your FIRE journey with friends?
« Reply #40 on: July 13, 2020, 12:41:24 PM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

Why would you hide from colleagues? Sometime I wonder if I shall tell them I'm gonna just retire!
kind of impacts your job if your boss catches wind of it before you're ready to tell them.....(raises/bonuses/projects)

Depends on the boss and how you construct your relationship with them. It never hurt me to be clear that I didn't need my income.

DH's management knows he doesn't plan to stick around much longer, but they keep throwing money at him to try to convince him that now is not the time to walk away. It will be interesting to see what happens this fall.

Anyone who knows anything about us knows that we plan on cruising our sailboat. Only our parents have shown much interest in what that means financially.

Bloop Bloop

  • Handlebar Stache
  • *****
  • Posts: 2139
  • Location: Melbourne, Australia
Re: Do you share your FIRE journey with friends?
« Reply #41 on: July 13, 2020, 07:56:40 PM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

Why would you hide from colleagues? Sometime I wonder if I shall tell them I'm gonna just retire!
kind of impacts your job if your boss catches wind of it before you're ready to tell them.....(raises/bonuses/projects)

Depends on the boss and how you construct your relationship with them. It never hurt me to be clear that I didn't need my income.

Yeah, I work in a field where everyone earns enough to retire early if they want to (most just don't want to), so it's not much of a discussion. When I tell people I am happy to retire early they mostly look at me with a look of disappointment/pity, not resentment.

Valley of Plenty

  • Bristles
  • ***
  • Posts: 361
  • Age: 28
  • Location: Pennsylvania
  • Toss a Coin to Your Net Worth
Re: Do you share your FIRE journey with friends?
« Reply #42 on: July 13, 2020, 09:39:50 PM »
As someone who is fairly new to the pursuit of FI (about a year now) and extremely excited by it, I have a habit of talking to anyone and everyone who will listen about it. My family, friends, and coworkers all now know me as the guy who knows a lot about money and investing, who has the crazy aspiration of retiring before 40.

Most people don't seem too bothered by it, if somewhat uninterested. I'm discovering that most people start tuning out and losing interest when the topic of frugality comes up. "I don't want to deprive myself", "You can't take it with you when you're gone", and more flawed thinking that I'm sure you've all heard before.

More and more people are starting to come to me with questions regarding taxes, 401ks, and real estate. I'm all too happy to help, so that's a positive I would say. When it comes to things like frugality and early retirement though, I'm coming to find that most people either can't or won't wrap their head around the idea of living well below their means and saving a large percentage of their income for retirement. They're all too happy to live their life of overconsumption and debt entrapment, having decided that denying themselves a few pleasures now would just be too great of a price to pay for financial freedom.

All in all I still love talking about this stuff with anyone willing to listen, even though I know half the people I talk to about it just think I'm crazy or delusional.

TartanTallulah

  • Pencil Stache
  • ****
  • Posts: 592
  • Location: The Middle of Scenic Nowhere
Re: Do you share your FIRE journey with friends?
« Reply #43 on: July 14, 2020, 01:36:19 AM »
I was brought up to think of talking specifics about money as the last taboo and wouldn't dream of spontaneously rattling on about FIRE to anyone, though we have a close friend who is close to retirement at 55 and I'm happy to share some details of our situation with him.

Although we are in a position to be FI, DH and I both still work part time. However, I'm happy for my manager to know that I don't mind colleagues being offered work ahead of me (I'm freelance) because the income isn't critical, and I sometimes have reason to say things like, "We can live on very little if we need to," or, "We're selective about what we spend on because we want to be able to choose not to work if we stop enjoying what we do." I'm careful, though, because I don't want to sound insensitive.


MrThatsDifferent

  • Handlebar Stache
  • *****
  • Posts: 2317
Re: Do you share your FIRE journey with friends?
« Reply #44 on: July 14, 2020, 01:39:40 AM »
In the beginning I told everyone because it blew me away and I felt I just discovered the secret to eternal life or something. But then I realised how entrenched people are in their ways and how many are so in debt that they can’t see an escape hatch. Now it’s too awkward to talk about because either people feel they don’t make enough or they’re embarrassed that they aren’t financially secure and me talking about it only makes them feel worse, not liberated like I’d hope. So I’ve given up talking about and now just do my own thing. Cause I’m older, I’ll retire early but not so early that it will look odd. I won’t get questioned really.

Valley of Plenty

  • Bristles
  • ***
  • Posts: 361
  • Age: 28
  • Location: Pennsylvania
  • Toss a Coin to Your Net Worth
Re: Do you share your FIRE journey with friends?
« Reply #45 on: July 14, 2020, 01:45:39 AM »
In the beginning I told everyone because it blew me away and I felt I just discovered the secret to eternal life or something. But then I realised how entrenched people are in their ways and how many are so in debt that they can’t see an escape hatch. Now it’s too awkward to talk about because either people feel they don’t make enough or they’re embarrassed that they aren’t financially secure and me talking about it only makes them feel worse, not liberated like I’d hope. So I’ve given up talking about and now just do my own thing. Cause I’m older, I’ll retire early but not so early that it will look odd. I won’t get questioned really.

I'm still in that beginning stage, and it truly does feel like I have discovered the most valuable secret of the universe. And yes, it seems everyone I talk to is entirely oblivious to it. I still try to talk to people about it though, for now.

BussoV6

  • Bristles
  • ***
  • Posts: 287
  • Location: Egoli
Re: Do you share your FIRE journey with friends?
« Reply #46 on: July 14, 2020, 02:06:22 AM »
When I pack in the formal job, I'll probably tell most people that I do some consulting work part time. Only close family/friends know our situation.

Why would you hide from colleagues? Sometime I wonder if I shall tell them I'm gonna just retire!
kind of impacts your job if your boss catches wind of it before you're ready to tell them.....(raises/bonuses/projects)

Depends on the boss and how you construct your relationship with them. It never hurt me to be clear that I didn't need my income.

Like you, I have made it clear that I don't need the income. However, I have said that I view the amount they pay me as indicative of the value they place on my input as I don't want to get screwed over. It's a delicate balance.

I want to keep the door open to future consulting, even with my former colleagues, in the unlikely case I get a bit bored after RE.

Bloop Bloop

  • Handlebar Stache
  • *****
  • Posts: 2139
  • Location: Melbourne, Australia
Re: Do you share your FIRE journey with friends?
« Reply #47 on: July 14, 2020, 02:14:42 AM »
The amount you're paid is set by your replacement cost, which is mainly based on market forces plus your output. Unless your employer is particularly vindictive or low-rent, they're not going to care whether you "need" that money or not. And if anything, your employer knowing that you can walk away to a competitor firm tomorrow means that they will be more objective about your output, not less. If you've been dealing with your employer on a "I need this pay rise because....[insert non-market related reason here, e.g., I like the company/I need it to pay the mortgage]", then the employer probably already has more of an upper hand than is desirable.

Every pay discussion should basically come from this point of view (as an employee):
- I am worth this much (x) because if I left, you would be paying x + recruitment costs to recruit a replacement. Therefore, pay me x.

4tify

  • Bristles
  • ***
  • Posts: 347
Re: Do you share your FIRE journey with friends?
« Reply #48 on: July 14, 2020, 08:09:15 AM »
The amount you're paid is set by your replacement cost, which is mainly based on market forces plus your output. Unless your employer is particularly vindictive or low-rent, they're not going to care whether you "need" that money or not. And if anything, your employer knowing that you can walk away to a competitor firm tomorrow means that they will be more objective about your output, not less. If you've been dealing with your employer on a "I need this pay rise because....[insert non-market related reason here, e.g., I like the company/I need it to pay the mortgage]", then the employer probably already has more of an upper hand than is desirable.

Every pay discussion should basically come from this point of view (as an employee):
- I am worth this much (x) because if I left, you would be paying x + recruitment costs to recruit a replacement. Therefore, pay me x.

Love this. What does it cost to recruit?

Metalcat

  • Senior Mustachian
  • ********
  • Posts: 17610
Re: Do you share your FIRE journey with friends?
« Reply #49 on: July 14, 2020, 08:19:19 AM »
The amount you're paid is set by your replacement cost, which is mainly based on market forces plus your output. Unless your employer is particularly vindictive or low-rent, they're not going to care whether you "need" that money or not. And if anything, your employer knowing that you can walk away to a competitor firm tomorrow means that they will be more objective about your output, not less. If you've been dealing with your employer on a "I need this pay rise because....[insert non-market related reason here, e.g., I like the company/I need it to pay the mortgage]", then the employer probably already has more of an upper hand than is desirable.

Every pay discussion should basically come from this point of view (as an employee):
- I am worth this much (x) because if I left, you would be paying x + recruitment costs to recruit a replacement. Therefore, pay me x.

Love this. What does it cost to recruit?

Depends on the position and the job market at the time.

It would cost my company about $7000 in headhunting fees to replace my assistant with someone about 25% as competent. There's a huge shortage of staff for that particular role in Canada, so absolutely no one wants to lose them. Their pay rates are sky rocketing upwards of double industry standard 5 years ago.

Meanwhile, I replaced myself with a single phone call. There's a huge oversupply of my type of professional.