Plan to help a burned out friend “retire” before FI

[ricgnzlzcr]

Hi folks,

I have a friend I’m trying to help. His high-stress job is taking a huge toll on his physical and mental health, but he won’t leave. He feels trapped and tied to the “golden handcuffs”.

He’s saving aggressively in search of FI, but he’s at least 10 years away. I am too, but I have way more flexibility with my work (consulting). It provides about 90% of the benefit of FI. I think he could do the same, but I’m struggling to find a solution that fits him---I’m hoping you all can give me some tips.

Finding his MES

I think he needs to find his Minimum Effective Schedule. It’s like the Minimum Effective Dose (MED), which is the smallest possible dose that will produce a desired outcome. Like pain pills---anything beyond the smallest dose is wasteful. For example, taking three aspirin when one gets the job done.

This applies to freedom. If he works 70+ hours/week and wants a 4-day weekend, aiming for retirement is grossly inefficient. It’ll get the job done, but there are quicker tools.

This is the way I would break down a MES:



Let’s say he wants to take a couple years off to decompress and travel. He can take a mini-retirement and then find a more flexible employer.

If he wants to work half days each day then he has multiple options:

• Freelance / Consult
• Find a part-time job and supplement with investment income (aka BaristaFI)
• Rental real estate (his area provides opportunities for higher income on each dollar investment)
• A low-maintenance business: building a business that provides sufficient income for less time. Think of Mrs. MM’s soap business or Mr. MM’s construction side business.

You get the point. Each MES option has different paths he could take to get 90% of the FIRE benefits in much less time. He just has to pick the timeframe he really needs and design for that.

Am I crazy? Does it make sense? If so, why don’t more people try this? Any feedback would be great :)

[whywork]

There are few issues with mini retirement

You are in that current job because it’s your best option pay wise. Finding another like that after retirement will be difficult
There is a risk that after all that rest coming back to work would be even more difficult
Instead use your 1 month vacation and take another month off as unpaid. What more can a mini retirement give you?
Getting to FI takes the stress to earn money. The retirement after hence would be more enjoyable. On the other hand a mini isn’t as enjoyable as this stress is not gone fully and in fact it delays FI

[maizefolk]

Getting to FI takes the stress to earn money. The retirement after hence would be more enjoyable. On the other hand a mini isn’t as enjoyable as this stress is not gone fully and in fact it delays FI

This isn't true for everyone, but it is true for a lot of people (including me).

[TartanTallulah]

That's a very well reasoned original post, but your solutions, however logical, are not necessarily the solutions that would work for your friend and nobody apart from himself can solve his problem if, indeed, he believes he has a problem that needs solving.

[ricgnzlzcr]

There are few issues with mini retirement

You are in that current job because it’s your best option pay wise. Finding another like that after retirement will be difficult
There is a risk that after all that rest coming back to work would be even more difficult
Instead use your 1 month vacation and take another month off as unpaid. What more can a mini retirement give you?
Getting to FI takes the stress to earn money. The retirement after hence would be more enjoyable. On the other hand a mini isn’t as enjoyable as this stress is not gone fully and in fact it delays FI

Hey that makes sense, but I'm having a hard time understanding why coming back to work after resting would be more difficult. I took a 6 month mini-retirement earlier in my career and I didn't have a hard time going back to work after.

Can you give specifics?

[ricgnzlzcr]

That's a very well reasoned original post, but your solutions, however logical, are not necessarily the solutions that would work for your friend and nobody apart from himself can solve his problem if, indeed, he believes he has a problem that needs solving.

Great point! I'm trying to help because he actually asked me for help. I was in a similar position earlier in my career and took a mini-retirement :)

Would any of the MES options work for you?

[swashbucklinstache]

There are few issues with mini retirement

You are in that current job because it’s your best option pay wise. Finding another like that after retirement will be difficult
There is a risk that after all that rest coming back to work would be even more difficult
Instead use your 1 month vacation and take another month off as unpaid. What more can a mini retirement give you?
Getting to FI takes the stress to earn money. The retirement after hence would be more enjoyable. On the other hand a mini isn’t as enjoyable as this stress is not gone fully and in fact it delays FI

Hey that makes sense, but I'm having a hard time understanding why coming back to work after resting would be more difficult. I took a 6 month mini-retirement earlier in my career and I didn't have a hard time going back to work after.

Can you give specifics?

I'm not the person quoted, but one example of this is the country or industry going into a recession while you're away and not being able to find a job making anywhere near as much money or any job at all, leaving you spending down your FI funds that might be dropping in value all the way along... Or, maybe the problem never was really the job and now you have the problem + no job hassles to deal with? Generally though I'm in favor of changing things up if it is feasible, so don't take these musings too seriously.

[AccidentalMiser]

I might turn him on to this forum and let him tell "us" about his situation, struggles and possible solutions.

I think you could spin your initial idea into a self-help book.

[FInding_peace]

I think this is a great way of conceptualizing this!

In particular, for myself, I note that I would likely be happiest in the "some weeks on, some weeks off" camp or the "some months on, some months off" camp.  I generally find that weekends are too short for me to really decompress;  it's challenging for me to constantly be switching between work mode and non-work mode at such short intervals, and I tend to do better with lengthier intervals where I really focus consistently on work and then really unwind.  So for me, I find it useful to look at all these options laid out like this and know instinctively which ones do and do not appeal to me. 

It also takes on the main negative aspect of a FIRE mindset, which is that it can encourage one to postpone living the life they want until reaching FI.  (Ideally, this isn't the case of course, but it often works out that way.)   Your framework encourages folks to figure out what it is that they're truly after and build it into their working life. 

The issue you're likely to run into though is that most of your options entail increased risk.  For example, there's more risk involved in being a independent consultant responsible for booking your own work than signing onto a steady corporate paycheck.  For some, that increased risk will be worth it given the lifestyle improvements gained, but for some, that increased risk will be a dealbreaker until a sufficient FI nest egg is achieved.  I don't know much about your friend, but I wonder if he is in the latter camp. 

Anyway, I enjoyed this post, thanks for sharing!