My sometimes frustrating short FI journey so far

[Asgard01]

Hi all,

I just wanted to share my recent experience mentally and emotionally with this financial independence movement as I don't really have anyone else to speak to about this.
I think that this whole game can be very addictive indeed, the carrot on the end of a stick is incredibly enticing. The future creations that are minds create of not having to work, or get up early. The idea that we truly can choose where we work without fear of getting the sack can create a huge amount of anticipation which draws me back to articles detailing how to do it, the benefits of doing it and repeatedly things such as checking compounded interest calculators.

There is no doubt that this gives me pleasure and motivation. I wonder though if I am delaying happiness too much or rushing through the present too much at this idea of a future ideal especially if I have to wait many years to do so.

My circumstance are as follows. I am 27 years old living on my own currently. I own my own house with no mortgage. I own all my possessions and have zero debt. I have £60000 / $100000 invested in passive funds and £10000 / $16500 in cash. This is before I even started all of this. I had the £60000 / $10000 as a result of a delayed inheritance from my grandad this year, interestingly enough I received this just after I got interested in FI. I am sure that to some people on here, this would make them happy now. That this would be a goal in itself. This may be a goal that would take them years to reach. I already have this but yet I am simply looking for the next thing and this is why I writing this post to ask if anyone has similar experiences.

I originally aimed to be able to reach FI in a comfortable state at 50 years old. I then changed this to 40, 38, 35, 32 (5 years time) and now I want this to be 2 years to achieve very basic core needs met FI where I would have to work part time to earn fun money, disposable income. I can achieve this with my current 55% monthly savings rate and the 4% withdrawal rate. I am Saving £950 / $1574 a month.

I can even support myself now with 4% and a simple part time job. This is a nice feeling but I want more... And I feel annoyed for wanting more. I seem to be getting obsessed with this, I am now concerned that I would not want to engage this plan in 2 years though as I would need to switch accumulation to income with higher dividends to reach this 4%. My index trackers only yield around 1.8%. I then feel That I may have FI at a basic level but I want to be more comfortable so I want to carry on working. I can have fairly comfortable FI which includes disposable income weekly by age 35 but then I feel like that's 8 years of my life gone. I guess I need to work towards this goal whilst living firmly in the present.

This shouldn't be causing me so much angst but it is. I keep playing with excel spreadsheet and my budgets, trying to think how much income do I need, what about lack of holidays, what about this etc. it's doing my head in. Other times, I feel really happy about it all.

If I focus on, 27 years old - no debt what so ever, own my own home (no mortgage), own  a new car,  £70,000 / $117000. A Plan for FI in so many years. I should be happy, but I want FI to come now, and securely without much so risk but this is causing me to worry too much and think too much about the future whilst missing the present.

Sorry for the long length of this, but I had to get that out.

Chris

[MDM]

...
I think that this whole game can be very addictive indeed, the carrot on the end of a stick is incredibly enticing.
...
There is no doubt that this gives me pleasure and motivation.
...
I am sure that to some people on here, this would make them happy now. That this would be a goal in itself.
...
I originally aimed to be able to reach FI in a comfortable state at 50 years old. I then changed this to 40, 38, 35, 32 (5 years time) and now I want this to be 2 years....
...
A Plan for FI in so many years. I should be happy, but I want FI to come now, and securely without much so risk but this is causing me to worry too much and think too much about the future whilst missing the present.
...

Asgard01, nicely summarized.  A few quotes excerpted above lead to a question: is FI your end goal, or will FI be a means towards some other end?  And if the latter, what end is that?

[arebelspy]

It sounds like you need to stop obsessing about FI and find enjoyment in your current life and job.  If that's not possible, figure out why, and figure out what needs to change (job change or mentality change or otherwise) so you can do so.

Introspection is key - MDM posed a good question, and I think ultimately you will need to think about what you want, what makes you happy, and then see how you can switch to doing that, as well as how you can be happy before you switch, regardless.

Welcome to the forums!

[Thegoblinchief]

Realize that you are in a FANTASTIC position for your age. ~115K AND a paid-off house at 27?

You should be ridiculously happy with your progress. Let me give you a pat on the back.

Now, as MDM and arebelspy have noted, introspection can help. A book that may help you appreciate what you have is "A Guide to the Good Life" by William Irvine. Fantastic guide to Stoicism for the modern age written by a man (like myself) who admired Zen but it never quite clicked.

[Asgard01]

Asgard01, nicely summarized.  A few quotes excerpted above lead to a question: is FI your end goal, or will FI be a means towards some other end?  And if the latter, what end is that?

FI can't be just the end goal, life will not suddenly stop. I will still have wants and desires and want to do things in life. I guess FI just gives me a warm feeling that I don't need to work, I have no need to worry if my boss told me he would have to let me go. I will just get more confidence, ease of mind.

It sounds like you need to stop obsessing about FI and find enjoyment in your current life and job.

Welcome to the forums!

Thanks for the welcome. I certainly need to stop sacrificing now, whether that's 23 years or 2 years until FI. Be content whilst still having desires and wants, which sometimes is no easy task.

Realize that you are in a FANTASTIC position for your age. ~115K AND a paid-off house at 27?

You should be ridiculously happy with your progress. Let me give you a pat on the back

I do tell myself this, this is one of the reasons I wanted to post on this issue. It annoys me that I still can't settle with what I have. I originally thought along with conventional knowledge that retiring at 50 was very good when compared with most. I can easily achieve that BUT.. I felt like this was 23 years away which was too long. I then managed to get this down to 40, 38, 35 in a comfortable FI state. I still then thought that 8 years is too far away, too long. I now can get myself achieving basic core needs met in 5 years but this would leave me with no fun/disposable income and I would have to work part time. I assume for some that this level would be regarded as a huge success for them. I wonder if impact bias and adaption to circumstance play a role in this.

I also question if I truly will stop working when I hit FI. As five years is relatively close and is tangible. I wonder if the possibility of earning more and having more later will be hard to get around. I want to try to get to a certain level of comfortable FI where I simply do not need to earn more money. But then thoughts of I am wasting my career, or chances of earning more come into my head. I guess this is more if I choose never to work for money again though....

I think I am swaying toward achieving FI for the freedoms and feeling of safety and security that it can provide relatively. I can use this positive situation to then choose a career or path perhaps in a part time fashion so that I spend a large part of my time doing other things like learning, raising a family in a more direct manner and with more presence. Bottom line is I don't want to be stuck feeling like I am doing something I do not like solely as I need the money to survive and that I am wasting much of my life here on earth in the process.

My plans

Basic FI
- all bills paid - home, food, drink, gas, electric, running car, phone, internet
(part time work would be required for fun/disposable income/unexpected outgoings/holidays)
5 years time - Age 32
£141000 / $234271
Monthly - £470 / $780

Essentially Comfortable FI (no work needed)
all bills and disposable income/holidays etc (frugal, simple living)
8 years time - Age 35
£200,000 / $332000
Monthly - £666 / $1106

More flexible FI
13 years time - Age 40
£320,000 / $531680
Monthly - £1066 / $1771

Rich FI
23 years time - Age 50
£670,000 / $1,112,000
Monthly - £2233 / $3704

I am not sure what I want more at the moment, maybe I should be content with basic FI and then doing what I love to make a little more. The prospect of more comfortable FI but more years to get there compared with less years but less comfortable finances is causing me a lot of dissonance. What are your thoughts?

Sorry for the long length of this post. :)

Chris

[DoubleDown]

I agree with others that if you're getting stressed or obsessed or feeling deprived, then you're "doing it wrong." You'll have to find a healthy balance -- moderation in all things. This is a highly personalized decision for everyone, but I think it would be a mistake to aim for the bare minimum FIRE amount -- that is, retiring the second you think you have the minimum amount needed to cover the barest of expenses, and racing to get there. Particularly if you are feeling deprived along the way; that would not signal a healthy or likely successful approach. The journey should not be painful, hopefully you can find a good balance where saving and frugality come very naturally, without any sense of deprivation, or without the idea that the "goal" of retiring early is better than the journey there.

I'm not sure what might click for you, but perhaps some insight/mindfulness meditation could help provide some focus on the present moment, and provide a calming and stabilizing influence? Many find it helpful to make a conscious decision to focus on the present moment a few times a day, and even take a moment to find gratitude in all the simple things you have in that present moment -- the ability to breathe and feel, a roof over your head, etc. That plus the comforting knowledge or daily reminder that you are saving a great amount and achieving more independence every day might help.

[jubilantjill]

Asgard01,
I oftentimes feel what you're feeling.
It sounds like you're young and single and now is a great time to earn some serious cash as the "save now, play later" mindset is even harder when you have a family. That said, don't do it at the expense of your own health- physical or mental. I didn't have a real career till 30 and while I am sometimes envious of those my age who are further along I harbor no regrets about being a vagabond for pretty much all of my twenties. In fact, my retirement plan pretty much aims to get me back to my vagabonding ways.
Saving for FI doesn't have to be an all or none endeavor. You can spend a year working and saving like mad then change your mind next year. I'm sure you'll always save at least a little. I have a hard time with long term goals so have structured a plan that involves saving for 5 years, then traveling for 5 (from a house sell, NOT from my retirement investments), then back into the workforce. This way I'm not overwhelmed by the task of having to work and save for 10 years straight (I'm lazy, what can I say), but I'm still saving intensely for a few years.  Perhaps you could structure your saving in such a way as to give you "splurges" along the way? They don't have to be expensive or cost anything at all-a camping trip, a reunion with old friends, a new sport to try- something to keep you from feeling like you're missing out on life. Not sure this makes sense or not, it's past my bedtime.

[Asgard01]

Thanks for your replies DoubleTake and jubilantjill. The following sticks out to me.

if you're getting stressed or obsessed or feeling deprived, then you're "doing it wrong

don't do it at the expense of your own health- physical or mental.

This is and was my thoughts, this is one reason that I was annoyed. I was frustrated that I was thinking like this and wondered if there were many others that felt any of this.

The idea of feeling and being deprived seems different to me. I am certainly not physically deprived. I have a comfortable home with so many things that take for granted, I like most have access to things and conveniences that not even kings or queens could have had in the past. I have quality food and drink. All my bills are paid, I have access to the internet and a smart phone. Just imagine if you did not have the internet but read about all the things that you can do via it, all what is available. That would be a huge carrot for us to want and chase but we have it, and yet like most things. We get used to having it and simply want something else that we do not yet have.

I think feeling deprived then would be a mental and thought based truth. I have all that my body and mind truly needs. I am not in a war zone, or emotional abuse situation and my physical needs are taken care of. I have so many things that I own, books I have not yet read, videos I haven't watched. So many things that I once wanted badly yet I haven't even used/utilised most of it.

I think that the thing that my mind currently does think of as some deprivation! loss or sacrifice is saving at my rate 55% income which currently means that I can't go on any holidays or many outings. I can't necessarily do as many cash funded experiences such as going paint balling or going away for a short break weekend. I don't miss or feel deprived at not having material things per say. I still get $50 disposable income per week to spend on what I want. I certainly don't miss $250 jeans or the latest and best smart phone. I do appreciate what I have and firmly believe that in buying such things, I am further locking myself into being a wage slave.

Perhaps though, I need to give myself slightly more for experiences and short breaks away. Maybe this will get rid of any deprived feelings. I certainly know I could train my mind, change my thinking, do other experience based things that are cheap or free but part of me perhaps does like the idea of having that bit more cash for such things.

Thanks again for your comments thus far.

I have a question now. If I have all my money or 90% in shares and I get a 1.8% annual dividend from vanguard life strategy for example. This clearly is not 4% withdrawal plus inflation. Forgive my lack of knowledge but does this mean that it is necessary to have other income sources? I was thinking that even though my shares might rise in value by 7% in one year, if I am only getting 1.8% in dividends how can I draw a 4% other than selling shares?

Chris

[Khan]

That's what you do, sell shares.

(edit)Btw, I'm in somewhat the same position as you OP(26, almost 150k net worth). For me, I'm planning a life turn/midlife[early life?] crisis basically. Maybe that's something you could look into. I'm going to go to college(haven't done that yet, it'll be almost 0 impact to stash), and then I'll be in a decent place to get myself into whatever may be either financially good for myself, or satisfying(or both).

I mean, sure, I could go all ERE retirement at this point... but I'm fairly certain I have no interest in that.

Do you? What is FI to you? What's missing from your life beyond financial success? What do you want to do/not do?

Maybe you could take a year off to go backpacking and barely impact the stash? Maybe you could start hanging around coffeeshops or something? Pick up a hobby or 10. Start visiting castles?

[MrsPete]

I agree with others that if you're getting stressed or obsessed or feeling deprived, then you're "doing it wrong." You'll have to find a healthy balance -- moderation in all things. This is a highly personalized decision for everyone, but I think it would be a mistake to aim for the bare minimum FIRE amount -- that is, retiring the second you think you have the minimum amount needed to cover the barest of expenses, and racing to get there. Particularly if you are feeling deprived along the way; that would not signal a healthy or likely successful approach. The journey should not be painful, hopefully you can find a good balance where saving and frugality come very naturally, without any sense of deprivation, or without the idea that the "goal" of retiring early is better than the journey there.

I'm not sure what might click for you, but perhaps some insight/mindfulness meditation could help provide some focus on the present moment, and provide a calming and stabilizing influence? Many find it helpful to make a conscious decision to focus on the present moment a few times a day, and even take a moment to find gratitude in all the simple things you have in that present moment -- the ability to breathe and feel, a roof over your head, etc. That plus the comforting knowledge or daily reminder that you are saving a great amount and achieving more independence every day might help.

I agree that the goal is "balance" in your life.  Lots of people over-spend, which brings stress and problems, and that's clearly a mistake; however, other people under-spend ... or are hesitant or fearful to spend, even when it's clearly the right choice.  You want to aim for the sometimes difficult-to-find midpoint:  The point where you're spending within your limits, you're buying things that are a good value and will bring joy to your life, but you're not spending mindlessly or consuming just to consume. 

Even if you find that nice midpoint, you will still go through periods in your life when you're stressed, feeling deprived, or whatever else.  These might coincide with times of crisis, which you're going to have no matter how well you plan.  BUT if you genuinely are "doing it right", those times will be short-lived, and you'll revert to your usual "happy medium". 

[soccerluvof4]

Amen! +1 ^

[Asgard01]

Lots of people over-spend, which brings stress and problems, and that's clearly a mistake; however, other people under-spend ... or are hesitant or fearful to spend, even when it's clearly the right choice.  You want to aim for the sometimes difficult-to-find midpoint

Yep, I couldn't agree more with this. I think I might be slightly pushing it too much. I might need to drop my savings by $100 perhaps to feel like I have that bit extra for activities. I still feel that my spending is fairly frugal and simple. I don't intend to aim for a spending situation similar to Jacub on ERE.

I think having basic FI in 5 years will be a good aim simply to then be able to feel like even if I didn't work, all my core needs would be met and my principle shouldn't fall. That would be a great feeling which would hopefully give me much more confidence at work to speak my mind more, just less fear in general. I could then carry on working until I reach comfortable FI even if that means finding another job if I did not like my current one, the fact I could live fine until I found one would be a great safety net that most do not have.

Chris

[frugalman]

Our dear friend Jim Collins has the term for what you need. It's called F-U money. Not being MMM, I hesitate to spell it out any further, but I'm sure you can figure it out, and that's what Jim calls it anyways.

The thing is, with no debt and over $100,000 available, you already HAVE F-U money! At the drop of a hat, you can walk out the door from work. I'd recommend giving polite notice. You can just kick back for a month or two, relax, enjoy, then start looking for another position. F-U money is along the continuum to F-I. There's no rush to reach the end goal - appreciate the journey along the way. If it takes you 15 or 20 years, no problem. And the way you are set up already, you just need to meet your basic needs along the way, and let your money work for you. Have a couple of beers with your friends or go on a cheap holiday - you don't have to save every last penny along the way.

[DoubleDown]

I think that the thing that my mind currently does think of as some deprivation! loss or sacrifice is saving at my rate 55% income which currently means that I can't go on any holidays or many outings. I can't necessarily do as many cash funded experiences such as going paint balling or going away for a short break weekend. I don't miss or feel deprived at not having material things per say. I still get $50 disposable income per week to spend on what I want. I certainly don't miss $250 jeans or the latest and best smart phone. I do appreciate what I have and firmly believe that in buying such things, I am further locking myself into being a wage slave.

My two cents: Saving at a 55% rate is really great. I mean, that is so far beyond the mainstream, it puts you decades ahead of everyone else in being able to retire early. I personally think you should feel completely comfortable dropping that rate to spend on experiences you value. A lot of people here feel that spending on experiences (not stuff) is not only legitimate, but advisable. Otherwise, what is your money for (other than basic subsistence)? You do not sound like you have a spending or consumerism problem, just a reasonable desire to do some things, and you're depriving yourself by not doing them. I say give yourself a break, spend some of your money on experiences you value, without guilt, and just keep your savings rate reasonably high. You'll still be financially independent quickly, and you'll have some stories to tell along the way from the things you do.

[RyanAtTanagra]

I was frustrated that I was thinking like this and wondered if there were many others that felt any of this.

I registered because I wanted to comment on this.  Yes, there are definitely others that feel the way you do.  My original goal, which felt lofty and unrealistic (before I found ERE then MMM), was to retire at 49.  After a few years of learning more I was able to move that to 39, which for me is 5 years away now.  I know logically that retiring at 39 will be amazing and unheard of by anyone I know, and 5 years is right around the corner, but it seems sooooo far away.  Now I want to have retired at 29, but missed that boat.  It's a tough wait.

I completely understand your goal of 'basic needs FI' and how significant of a milestone that will be, even if you decide to keep working after it.  I have that number in mind as well.  At that point I'll be able to say exactly why I'm working, what I'm saving for, or what expenses I'm accounting for, and I will have to justify it to myself every time I show up to work.  I look forward to it and that day can't get here fast enough.  I periodically consider taking extreme measures of lowering expenses so I can get there faster, like moving into a shared warehouse space at $300/month (I'm in SF so that's crazy-cheap) and dumpster diving like some kids I know.  Then I can say 'I'm adding another $150k to the stache so I can buy a house and move out of here' or 'I'd love to have internet again, which is $50/month, so I'm working to save $15k so that expense is covered for life', etc.

However you may, like me, have FI up on this fabled pedestal of awesomeness that will solve all woes and automatically let you achieve all your lifes goals.  While it may do a little of both, what I have to keep reminding myself of and keep thinking about, is WHY I want FI.  What is it I plan to do when I have more free time and don't have to work?  Is there a hobby I want to take up?  Am I looking forward to traveling more to visit friends and family?  And whatever those answers are, is there a way to start incorporating them into my life now so I don't have to wait?  Early on, FIRE takes so much time, effort, planning, thinking, and changing things that it can be easy to forget FI isn't the goal, it's just a means to an end.  Now that you're on autopilot it's time to start planning what comes next, and work towards that as well.  Mrs Pete put it well in talking about it being a balance.  It may be time to lower your savings rate a bit and direct it to what you're really looking for, if that's possible.

Congrats on your current situation :-)

[Tulip]

Hi Chris,

I just wanted to chime in and say you are definitely not the only one who feels this way...you captured, in words, some of my very thoughts and frustrations. So, thanks for posting this! I am paying close attention to the responses/advice you receive in this thread.   

Tulip

[Asgard01]

My two cents: Saving at a 55% rate is really great. I mean, that is so far beyond the mainstream, it puts you decades ahead of everyone else in being able to retire early. I personally think you should feel completely comfortable dropping that rate to spend on experiences you value.

I agree with this, I don't want to feel deprived but then I feel like I'm extending FI further which I also don't want but I know that life matters now and that once I hit FI, it will not be perpetual happiness from that moment. I will want to do things with my life, I will adapt, impact bias will surely be shown as well. I have freed up an extra $40 a month which seems like nothing much or a lot depending on how obsessed you are with all of this: endlessly modifying spreadsheets switching between feeling deprived on one end and then feeling you are extending your FI unnecessarily on the other. Hehe, yes I have done that.
So, my savings rate has dropped from 55% to 53% - oh the humanity... I gotta admit though 55% did sound nice. Well I have readjusted my plans and monthly draw even in 13 years time would only be $25 less a month, which is hardly worth being concerned over. I still feel that feeling in my stomach though, what about holidays and splurges now and then on some stuff you get value from.. Oh well that's for another day.

I registered because I wanted to comment on this.  Yes, there are definitely others that feel the way you do.

Thanks ryanattanagra for commenting. It's nice to know I am not alone which I didn't think I would be.

I look forward to it and that day can't get here fast enough.

I guess this is what many people feel like, they want there current circumstances with regard to work and probably feeling like you have to work in  a place you do not like or simply that you don't want to waste so many hours. Feeling like you have to put up with so called crap as you need the money to live cannot be nice. I however wonder if trying to find something better in terms of work might be better. I don't think I will stop working at FI comfortable (8 years - age 35). I will just feel very comfortable, I may change career, or my job if I do not like it. I may go part time. I don't know. I currently don't mind my job, probably as my current evil boss is off for stress and the workplace is a completely different place. I am actually currently LOOKING FORWARD to going into work which is a great feeling.

However you may, like me, have FI up on this fabled pedestal of awesomeness that will solve all woes and automatically let you achieve all your lifes goals.  While it may do a little of both, what I have to keep reminding myself of and keep thinking about, is WHY I want FI. 

This is what I am still thinking about, I certainly don't idealise FI as if that will be the end goal, that I can then sit back and smile for the next 50 years as hinted at early. It just acts as a worthy goal that allows more security and comfort in what you choose to do with left, more relative freedom indeed. I think I still need to figure out what I want from life in the highest sense, I have been doing this for a while and still have not quite figured it out yet :).

Congrats on your current situation :-)

Thanks, I do feel grateful for it.

I just wanted to chime in and say you are definitely not the only one who feels this way...you captured, in words, some of my very thoughts and frustrations. So, thanks for posting this! I am paying close attention to the responses/advice you receive in this thread. 

Thanks tulip, it's good to know. Please share your experience if you wish.

Chris

[NewStachian]

Chris,

I have had these same thoughts recently. I'm 30 and could pull the trigger on FI in about 2-3 years as well. I obsess over spreadsheets, optimizations, and create more and more specific tools to track my progress. I now have a tracker that calculates the date where i can retire by taking my average annual savings rate, net worth and rolling 3-month average spending trend... it recalculates each month when I updated my information. When I see my spending drop from the rolling 3-month average I automatically adjust my automatic allotments to adjust for the lower spending and plan ways to trim even more out of next month's budget.

But to be honest, I think I have a frugality and FIRE addiction problem. My wife is great with our money, probably about 95% where I'm at in terms of efficient spending. But, I cringe any time she buys 1 small thing that isn't necessary because it is sub-optimal for our savings goals. I say "goals" but to me it's really "as many dollars and cents as possible and then more."

The only advice I can give is try to relax a bit about saving money. I'm struggling with it, myself, but I'm trying to spend a little less time on tracking my money and a little more time enjoying my free time outside of work. If your savings rate goes from 55% to 50% for a large quality of life increase now, it's probably worth it.

[frugalman]

"The only advice I can give is try to relax a bit about saving money. I'm struggling with it, myself, but I'm trying to spend a little less time on tracking my money and a little more time enjoying my free time outside of work. If your savings rate goes from 55% to 50% for a large quality of life increase now, it's probably worth it."

Yes! There is no race here. If you are at 50%, you have 17 years to FI. Enjoy the ride, and your life, every day.

[CryingInThePool]

My advice coming about 5 years from where you are now is start looking for some short term 'carrots'.   I was like you when I first found Jacob/ERE.  I wanted it NOW NOW NOW.  I was constantly in excel running projections that brought in that date including growing food and RV living.   It all seemed totally achievable and possible and I’m sure it was but that didn’t make it the right choice for me. I was FI then, by some standards, as I am today by mine, now I work for the safety margin and the fun money.   

Thankfully in my case calmer heads prevailed and I didn’t pull the trigger too early on one of my more barebones options, the truth is the more I looked into it, I didn’t want to live that life.   My brother had me work in his garden and after an hour I'd have rather been in the office; scratch homesteading off the list.  I looked at the part time jobs in the area I wanted to settle (and I still do just in case one ever becomes tempting) and was massively underwhelmed.  Same thing with RVing – I went and actually looked at a few and test drove one and understood it was not for me.  A 2-3 year plan quickly became a 5-7 year plan when I realized how sometimes the devil you know is better a fit than the idealized version of a life you don’t actually want to live.

I’m better off for it but at the time it felt soul crushing that I would have to stay at work for that much longer.  Problem was I had such passion for planning an exit to my job, but not much else. It wasn’t until I started taking action in other areas that it trickled into the rest of my life.

What got me over my crisis and will be probably be just as good for me as the extra income is focusing on the short term achievable goals on my way to retirement.  I have two flavors that drive me 1) things I don’t want to take time out of my retirement to deal with 2) research/education that will serve me well into retirement.    Getting to check off a few of those items on my FI to do list (remember not all should be financial) helps provide a sense of accomplishment even if my walking away date is still down the road. 

I found that short term goals are the best answer to ‘2 more years syndrome’.    Downsizing my book collection, Lasik surgery, uploading photos and music from my old basement computer to the cloud, reading 1 travel book a month, even this very comment (write more) all provide forward momentum to FI without me stagnating in my own vicious cycle of spreadsheet paralysis.   So again my advice is step away from the spreadsheets and tackle something new that you can complete in a short amount of time.  Rinse and repeat for a few months and see where you are...

[DollarBill]

I feel the same way about savings. I changed things recently; I made more savings acc for travel, vehicle, fun money, taxes. It’s nice to plan things out.

[Asgard01]

The only advice I can give is try to relax a bit about saving money. I'm struggling with it, myself, but I'm trying to spend a little less time on tracking my money and a little more time enjoying my free time outside of work. If your savings rate goes from 55% to 50% for a large quality of life increase now, it's probably worth it.

Thanks for your comment NewStachian. It's nice to know that I am not alone with this. Your example with what your partner is spending even though it's not much is the kind of thing I want to try and avoid if possible. I can see signs of that already but don't want to go down that route. Bottom line is I don't want to sacrifice now in terms of happiness and enjoyment for negligible returns later or a year knocked off FI from 8 years to 7 for example. I am already saving 50% a month and am easily on target for a comfortable FI at 40, reasonable FI at 35 and basic needs met at 32. I still have an image of me getting to FI earlier, say at 30 in basic sustenance level but then feeling empty.

Yes! There is no race here. If you are at 50%, you have 17 years to FI. Enjoy the ride, and your life, every day.

Yes, enjoy every day now. Stop suspending happiness until years later at FI because you are obsessing with FI calculations and focussing on what you don't have (FI) which makes you miserable if you dwell on it.

I found that short term goals are the best answer to ‘2 more years syndrome’.    Downsizing my book collection, Lasik surgery, uploading photos and music from my old basement computer to the cloud, reading 1 travel book a month, even this very comment (write more) all provide forward momentum to FI without me stagnating in my own vicious cycle of spreadsheet paralysis.   So again my advice is step away from the spreadsheets and tackle something new that you can complete in a short amount of time.  Rinse and repeat for a few months and see where you are...

Thanks for sharing your experience cryinginthepool. Spreadsheet analysis paralysis is certainly something I have been guilty of. Trying to tweak this here and there, raise my monthly percentage, knock off 1 year, 5 years etc. lowering my basic needs so I meet basic FI quicker, sometimes day dreaming about what it will be like when I hit it (I think idealisation can be a problem here). It all depends how much you obsess and the impact it's having on living now.

It's amazing about the comparing mind as well plus. I am guilty of this. I am 27 and healthy. I am saving $1550 a month solely to FI - 50% savings rate, have $100,000 in stocks/bonds and $16000 cash. Own my own detached house with no mortgage, no debt anywhere, on track for basic FI at 32, comfortable FI at 35 and more flexible FI (more fun money) at 40 and yet...... I can still feel down and annoyed at seeing people at 70%, some people saving $4000 a month etc. this makes me want to get a more higher paying job and try other things.. This creates a gap between what I want and what I have and that causes mental pain. I want to close this gap by wanting what I have....

Chris