FIRED (ish) in 2021… 12 month Update

[Eurotexan]

I left my corporate job in June 2021 with the intention of either a lean FIRE or lengthy sabbatical. I wasn’t sure which direction I would go, all I knew was I was burnt out and needed a change.

Since I quit pretty much near the peak of the market I felt good/ invincible! I wasn’t even at a 4% SW rate but even without the paycheck my net worth was climbing, and life was good!

About 3 months in (3 months of travel, relaxation, decompressing and having a wonderful break) I started thinking about going back to work. I got excited about the thought of going back to work which was a revelation in itself. I called up a couple of contacts, set up some interviews and started a new corporate job in December.

The job is in the same industry but pay is 30% more, benefits are so much better, bonus is better… get the picture? The 6 month break did me wonders, I would highly recommend it if you are in the financial position to do so. I think the factor that gave me the confidence to quit was knowing I could lean FIRE if I didn’t miss work, that was my safety net. Turns out I do enjoy work, I just didn’t enjoy that job.

So, I have been in this new role for 6 months, how do I feel now? Honestly, for a job, it’s the best one I could get, but I miss not working. I miss not being the boss of my own time. I plan on staying in this job for at least 4 years total (my kid is about to start college so I feel better about working while paying for college rather than drawing down savings). I keep telling myself 4 years is nothing, especially since I’m already 6 months in. But, it’s still a job.

Part of me is also relieved about the timing. I started working again just before inflation shot up and the market tanked. Lean FIRE may have worked for me if I had cut way back, but I wouldn’t have enjoyed the worry, and as smart folks on this forum often remind us, FIRE while worrying about financing isn’t fun. Also, when on sabbatical my spending was a lot higher than I projected so in a way that test FIRE/ sabbatical was invaluable since I have now significantly raised my target stash amount so when I FIRE for good, to the best of my ability I will have enough.

So, having read through a lot of posts about FIRE in 2021 I thought I would share my story. No, I’m not FIRE yet but having had a taste, I’m more determined than every to sock away the savings so I can enjoy FIRE when the time is right.

[mistymoney]

sounds awesome!

congrats on your impeccable timing!

[Rubyvroom]

Lean FIRE may have worked for me if I had cut way back, but I wouldn’t have enjoyed the worry, and as smart folks on this forum often remind us, FIRE while worrying about financing isn’t fun. Also, when on sabbatical my spending was a lot higher than I projected so in a way that test FIRE/ sabbatical was invaluable since I have now significantly raised my target stash amount so when I FIRE for good, to the best of my ability I will have enough.

We're finding the same. FIRE'd in December at 103% of our stash goal  based on ~estimated~ expenses, at essentially the height of the market. I can't put to words how much we enjoy not working for other people, but we found that we work HARD for ourselves... we have spent far more money than expected on farm/land infrastructure and other various house projects. I joke that my desk job was way easier (easier yes, less stressful no). While working we would just veg out after work, TV or internet or something cheap/free and unfulfilling. Very cheap lifestyles. Now we're working sun up to sun down, trying to budget for all of the THINGS. Restaurants? Ha, nope. Streaming services? Forget it. But livestock fencing, rain barrels/cisterns, hundreds of tree saplings, mushroom growing supplies, etc... we've never had so many hobbies. We've never had TIME for this many hobbies. So we're finding we're spending more than expected, and we enjoy spending at that level, so we too plan to hit "conventional" work again but not until the fall/winter. We are thoroughly enjoying the summer and may decide to go farm some money in the off season. We just had no idea how active we'd become without the cubicle-shackles ¯\_(ツ)_/¯

Congrats on the major overhaul to your work-life!

[moneytaichi]

I had a similar experience like yours. Just posted my experience on another thread so I am copying some text below. It's great that you actually tried FIRE and gained the first hand experience. Sometimes things are best in our anticipation. After having tried my FIRE and working, I found that I am the biggest factor to make myself happy or do anything, e.g. arts, exercises, or change a job. It's anti-climax, but it's also empowering to know that I am responsible for my happiness. I also wonder if the universe is waiting for us to align with our essence. When we do, the great things happen effortlessly. Congratulations to your new phase of life!

"As my previous job started going downhill in 2016 when my husband retired, I picked 2021 as my FIRE date. But that job went from bad to worse in a couple of years, so I quit in 2018 after realizing our number was ok. I had no plans what I'd do after retiring. After quitting, I tried many things and did some travel. It was a grand experiment period, and I learned to be content with my "non-productive" days.

Fast forward 3 years in 2021, I got a great job offer that I couldn't refuse and accepted it. I am back to work with no fixed re-FIRE date... I may take a sabbatical in 2025 to decide if I want to continue on this path."