Author Topic: FIRE without the E...  (Read 8335 times)

DeltaBond

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FIRE without the E...
« on: July 21, 2015, 06:23:19 AM »
I have been pondering for a while the FIRE plan in my life, and it has become so stressful to think about retiring early.  What will I do with my time, how long will I live, how can I save more and more and more and more within my current budget.  I have minimized all I can, shrunk my spending budget as much as I can, and CAN retire early, but it has caused me so much stress that my husband and I realized that we don't HAVE to retire early.  I think that the act of trying to will definitely help us save more, but I have decided that I would like to do a few more fun things while I'm young (I'm 37 now) and can actually enjoy it.  Planning for retirement like this is what my dad did, and he was such a miserable human, still is, that I really don't want to live that way.  I like working, my husband likes working... and we like to save money... I think that's a pretty good combo, honestly.

My godmother lived to 104, and the last 4 years of her life were in a nursing home, costing over $4K a month.  She retired early, worked as a teacher, and ended up having nothing to leave any relatives when she passed because she had to give her house and all belongings to the bank to cover her medical costs and funeral.  Granted, she wasn't a burden on her family, but she really didn't do much on a daily basis that cured any boredom.  She chose to live on a shoestring budget for over 60 years, and again, wasn't a very happy person.

I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)
« Last Edit: July 21, 2015, 06:25:50 AM by DeltaBond »

forummm

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Re: FIRE without the E...
« Reply #1 on: July 21, 2015, 07:31:03 AM »
There have been dozens of threads on this topic. Personally, I have way more things to do with my time than I can do in a day, even without having a job. I'm not worried. I can always go and get a job if I feel that's better than doing whatever I want with my life.

DeltaBond

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Re: FIRE without the E...
« Reply #2 on: July 21, 2015, 07:41:07 AM »
Dozens, sure, because that's kinda the purpose of these forums ;)  I haven't seen too many since I've been on here about NOT retiring early, which was why I posted my thoughts here.  Maybe not everyone has thought, "Oh, I don't HAVE to scramble to retire that early."

wtjbatman

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Re: FIRE without the E...
« Reply #3 on: July 21, 2015, 07:47:30 AM »
DB, he's just saying this type of thread does pop up a lot (The contemplative "Wait, what WILL I do for 40+ hours a week once I'm retired?"). I think that if you believe you'll be "bored" once you're done working, and you don't have enough going on in your life to keep you busy... then you are one of the few people who would be better off staying working.

Save up an ungodly amount (since you'll be working and saving so long) and then earmark the money for something special. Grand children's educations, charity, etc.

KCM5

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Re: FIRE without the E...
« Reply #4 on: July 21, 2015, 08:11:02 AM »
Basically, I'm not going to make myself unhappy in order to retire early. I only save money in ways that either don't make my life worse or actually make my life better. Example: we now only have one car - I have no interest getting another car because I really really enjoy biking everywhere. This makes me happy and saves me money. Example 2: we travel. A lot. We're not going to stop in order to retire a couple of years earlier because it's not worth it to me. But we do, in general, travel frugally. We like to travel that way and it saves us a bit of money - another win-win.

So no, we're not stressed or miserable. If you're stressed or miserable there's something wrong.

EscapeVelocity2020

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Re: FIRE without the E...
« Reply #5 on: July 21, 2015, 08:11:25 AM »
Joe at RetireBy40 had an interesting article on '5 Signs You're Not Ready to Retire'  yesterday:  http://retireby40.org/5-signs-not-ready-to-retire-early

The 5 general areas are:
- work identity (other young-ish people you meet typically ask what you do for a living, saying you are retired kinda' kills the conversation)
- advancement still thrills you
- your social life is mostly at work
- you don't like being alone (this one surprised me a bit, I hadn't thought about it enough)
- you don't have big plans post retirement (very subjective, more a call to evaluate how realistic your post-retirement plans are)   




velocistar237

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Re: FIRE without the E...
« Reply #6 on: July 21, 2015, 08:22:56 AM »
I've seen a few people around here with a 25-30% savings rate. They take it at a more relaxed pace because they want to, and they still get a lot out of the forum. Everyone has their own situation and preferences.

I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I'm fairly happy. Right now my day-to-day happiness is dominated by the stresses and limitations of having young children much more than by my financial situation and goals. I do experience stress when our savings rate dips. I have many hobbies, and I regularly wish I could do some of them full-time. I don't fear my future. I've never really liked having a job, even though I have had great ones, and my current job is amazing. I do feel anxious to reach FI and wish it would come sooner. I wish I had more concrete steps to take, but I've been on autopilot for a while. I have pangs of sheer elation at the thought of quitting my amazing job and never having to work again. The posts about quitting are my favorite part of the forum. At the same time, I put a lot of conscious effort into being present and liking my job and my currently somewhat restricted life. I don't want to only live in the future. At the same time, I do think a lot about what I will do after I quit.

Guesl982374

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Re: FIRE without the E...
« Reply #7 on: July 21, 2015, 08:34:54 AM »
I have been pondering for a while the FIRE plan in my life, and it has become so stressful to think about retiring early.  What will I do with my time, how long will I live, how can I save more and more and more and more within my current budget.  I have minimized all I can, shrunk my spending budget as much as I can, and CAN retire early, but it has caused me so much stress that my husband and I realized that we don't HAVE to retire early.  I think that the act of trying to will definitely help us save more, but I have decided that I would like to do a few more fun things while I'm young (I'm 37 now) and can actually enjoy it.  Planning for retirement like this is what my dad did, and he was such a miserable human, still is, that I really don't want to live that way.  I like working, my husband likes working... and we like to save money... I think that's a pretty good combo, honestly.

My godmother lived to 104, and the last 4 years of her life were in a nursing home, costing over $4K a month.  She retired early, worked as a teacher, and ended up having nothing to leave any relatives when she passed because she had to give her house and all belongings to the bank to cover her medical costs and funeral.  Granted, she wasn't a burden on her family, but she really didn't do much on a daily basis that cured any boredom.  She chose to live on a shoestring budget for over 60 years, and again, wasn't a very happy person.

There are two aspects to this site: Saving/Investing Money to become FI and stoicism/figuring out what happens you happy. Just because someone has one of those two aspects figured out, doesn't mean they have the other one. It sounds like your two examples IRL had the money aspect figured out but not the happiness part.

I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I don't look at FIRE as "winning". I look at FI (not RE) as opening up additional options for the second half of my life. FI does not equal happiness. FI enables freedom of time so I can responsibly persue activities and relationships that make me happy without the time constraint of a job regardless of money.

Hobbies/Activities that fit into FIRE? Yes: raising a family, hiking, biking, exercising, slow travel, creating (wood carving, drawing, etc), alternative energy, golfing. More hobbies than time at this point will working full time.

Hate my job? There are aspects I hate: time constraints, management structures, paper work etc but there are aspects that I love:studying business cases, negotiating, delivering bottom line results, delivering projects that have a positive impact on the world AND make economic sense.

Am I stressed about getting to FIRE? Sometimes but thats where being stoic comes in: I could have to work 12 hours a day in a mine or born into third world poverty or stuck serving french fries at McDonalds. I could have to work until 65-70 like most people I meet on a daily basis but won't (target age 38-40). By comparison I am probably in the top 0.00001% in the history of mankind in terms of luxury and opportunities. You need to realize you can't optimize everything in life. You need to try to relax and appreciate what you've accomplished and what/who you have in your life.

I want FI so I can responsibilty (i.e. not blow the opportunity I have as a high earner in the first world) take some time off, enjoy some of my hobbies, and most likely either work for a non-profit, work part time or start my own business without putting my family at risk. I want to be able to make decisions without thinking: I am giving up an additional $50K to 100K/year in needed income for ______ (whatever strikes my fancy at the time.)

It's been said many times, you need to retire TO something, not FROM something.

wenchsenior

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Re: FIRE without the E...
« Reply #8 on: July 21, 2015, 08:49:58 AM »
Basically, I'm not going to make myself unhappy in order to retire early. I only save money in ways that either don't make my life worse or actually make my life better. Example: we now only have one car - I have no interest getting another car because I really really enjoy biking everywhere. This makes me happy and saves me money. Example 2: we travel. A lot. We're not going to stop in order to retire a couple of years earlier because it's not worth it to me. But we do, in general, travel frugally. We like to travel that way and it saves us a bit of money - another win-win.

So no, we're not stressed or miserable. If you're stressed or miserable there's something wrong.

This.

A few years ago, I was obsessively worried about paying down debt and saving, and made both me and my husband more stressed and anxious than was really necessary. Gradually, I came to be ok with the fact that we couldn't change the past (very late start) and didn't know what the future would hold, and the best we could do is set some sensible targets that were 1) achievable without living a joyless deprived existence, 2) sufficient to get us to a minimum 'safe' savings accumulation, 3) that would allow us to achieve greater financial flexibility, if not actual independence and early retirement, as time went on.

After that, I started focusing more on my own psychology: what do I actually need to be content and how to change my thinking patterns to be more content and less control-oriented.

Result is that I find that I need less 'stuff' than I thought for many years, so it's becoming easier to achieve financial goals without feeling deprived; I am more relaxed about spending when we do it, because it's usually on things I truly value; and I'm generally happier and less anxious (partly because I'm coming to terms with not being able to anticipate and plan for all future scenarios).

Cookie78

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Re: FIRE without the E...
« Reply #9 on: July 21, 2015, 09:01:50 AM »
I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I'm happier now than before I learned about the option to FIRE. Like everyone else, I have my ups and downs. Lately my downs are mostly due to dealing with grief. But that grief is also motivating me to FIRE earlier. My brother died and since then I feel an intense desire to spend more time with my family. Now just weekends or a week or two per year, but 4-6 months each summer. I'm not happy that I can't be there NOW (without costs to other areas of my life that I weigh as too great), but I am thrilled that I have a plan that will allow me to spend as much time as I want in the near-mid future.

I am also happy because it will allow me to spend the rest of the year with my boyfriend. And to slow travel more. And to work on personal projects. And to do whatever else I want. From a present point of view I do not feel like I am giving up anything I want to save for the future. I still have hobbies (but not enough time to do them as often as I'd like) and projects and friends and things that I am learning. I struggled with living in the present moment for the first few months after I discovered FIRE, but right now I'm truly enjoying the process. The only part that's still hard for me now is finding the motivation at work, and getting out of bed in the mornings on work days.

I am also 37 and I feel like I have done a lot of fun things in the past, both recent and distant, while I was young enough to enjoy it. So I don't feel the need to do that now, at least in a way that impacts FIRE savings. I think the balance is something that everyone has to work out for themselves. For example, I could sell my car and FIRE earlier, but it's not worth it to me. I just use the car a lot less, but I still have it for long road trips to see my family. But it is worth it to me to bike to work in the summers and not spend money on bus, or parking/gas/maintenance.

Am I stressed or fearful about the future? HELL NO! With FI you have choices. Why be stressed if you make the wrong choice? You can always change your mind. If you retire and hate it, you can go back to work. If you move to Asia and hate it, move back. If you decide you didn't save enough money, work a little on the side, or go back to work full time for a year or two. It doesn't have to be a permanent decision. Why stress about it?

I think it's critical that you figure out what makes you happy. Find the balance between FI and spending now that makes you both comfortable and satisfied with your savings. You don't have to RE if you don't want to, but the FI part gives you the ability to make that choice for yourself.

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Re: FIRE without the E...
« Reply #10 on: July 21, 2015, 09:04:32 AM »
My personal advice is: Don't treat the MMM life/FIRE as early as possible as "the only right way to do things."  That alone is going to not make you happy because you will invariably stray from that path for something -- and maybe for something that is really fulfilling to you.

My dad is 86.  He works full time.  He currently works at a loss.  He pays his accountant more at the end of the year than he takes home himself.  Guess what?  He wouldn't have it any other way.  And there is nothing wrong with that.

I just FIRE'd at 50.  That's not the MMM formula of retiring by mid 30s.  I probably over saved.  And I probably spend a little more than most people here.  And there's nothing wrong with that either.

Just find a place on the scale you enjoy.  And don't stress that you're not doing it fast enough.  Just think it through and do it on purpose.

deborah

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Re: FIRE without the E...
« Reply #11 on: July 21, 2015, 04:07:08 PM »
FIRE without the E or even the R is a goal for a lot of people here. It is a forum - not a prescription!

FI is a worthy goal for anyone, because things change. You may come to hate your job in your late 40's, early 50's like a lot of people do - when you want to leave, you can. You may have life-changing events (I don't wish these on anyone) and you can throw as much money at them as you need to. There are all sorts of reasons that the E might actually happen, but if you are happy in your job for life, that's good too.

Eric

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Re: FIRE without the E...
« Reply #12 on: July 21, 2015, 04:15:36 PM »
I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I know one thing.  I'm happier when I'm not at work.  I have no idea if I have cultivated hobbies that will fill my time.  But I'd sure like to find out.

Cassie

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Re: FIRE without the E...
« Reply #13 on: July 21, 2015, 04:26:33 PM »
I think one thing that makes  a big difference is if you enjoy your work, the work environment etc but this can change quickly. My hubby & I didn't retire young 58 & 53. Within 6 months very bored so each consult in our fields as much or little as we want. For us it is th perfect combo. However, we are able to do this because we each have a pension of $20,000 so don't have to sweat about making a certain amount of $.  We probably spend more then most on this forum but at age 61 I want to travel while I can. We also are going out more then we did when young. We spend on experiences instead of things.  My Mom retired at 59 & filled her time with volunteer activities, etc & was never bored. It is different for everyone.

mozar

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Re: FIRE without the E...
« Reply #14 on: July 21, 2015, 06:02:42 PM »
I'm one of those people who hates their job. I hate every day having to go there. But I hate it a lot less now that I know I can leave eventually. I wouldn't say I was suicidal exactly but when I found out about FIRE it was like a burden had lifted off my shoulders. It's improved my life in incredible ways.
For the first time I felt I had something to live for. It led to many changes such as breaking up with my ex, figuring out what I want in a relationship, getting a new job which makes $10k more, refinancing my house, and my relationship with my parents has improved radically. I inspired my mom to refinance too and she saved $100k.
I always wanted to be an astronomer, but my childhood was too unstable for me to be able to focus in school. I would like to learn math and physics and someday contribute to astronomy. I've also always wanted to learn the piano.
I'm not nervous about the future because no matter how bad things can get, there's never been a bad time in history to be rich.

Oh and I never understand why people say they are sacrificing. Sacrificing what? Mercedes? I'm pretty happy living simply. I had to exercise my frugal muscles but I don't need to go to a restaurant more than a couple times a week. I don't have pets. I don't have cable, I don't own a car. For me, people who need all these things are weird (though I do understand the car in most locations).
« Last Edit: July 21, 2015, 06:10:26 PM by mozar »

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Re: FIRE without the E...
« Reply #15 on: July 21, 2015, 06:37:23 PM »
As someone who against all odds managed to "cultivate" a large number of hobbies and interests despite working in an all-consuming career...the "E" in FIRE was of huge importance to me. Now I pursue and enjoy these passions freely - and I am still young enough that there are no limits to what I can do physically - this is also very important to me. Much of what I am doing, and will do in FIRE requires a capable body. :)

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Re: FIRE without the E...
« Reply #16 on: July 21, 2015, 07:09:47 PM »
I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy? 

Yes, I'm really happy. This is in large part related to job flexibility and impending RE.

Quote
Do you have hobbies that fit in to this plan that actually make you look forward to getting up,

Not really. Oh, sure, I like taking Coursera/edX classes and reading but have no "hobbies" like people traditionally think. I like climbing and hiking and mountaineering and it's tough to do that with only 2-3 weeks off a year. I suppose those are hobbies.

Quote
or are you stressed deep down and fear your future? 

No, I have real FU money and RE is around the corner. What's there to fear?

Quote
Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.

I hate any 8-5+ job because of its rigidity and inane rules; currently, a part-time schedule fits. It still has time restrictions, as far as 6 weeks off at a time, but those will go away soon.


Zamboni

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Re: FIRE without the E...
« Reply #17 on: July 21, 2015, 07:28:33 PM »
I worry about what you are saying a little bit, also because my family has seen some very long life spans.

But, some of the work situations I've seen in the past have made me realize that it's better to be able to leave whenever I want to or need to. So I'm working to get in a situation of ultimate freedom and options. What if something terrible happens to someone in my family and I need to be able to stop working to help care for them? The FI part is much more important to me than the RE part.

there's never been a bad time in history to be rich.

Oh, 1789 was a pretty bad time to be filthy rich in France. So, be rich but keep it low key :-)

rmendpara

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Re: FIRE without the E...
« Reply #18 on: July 21, 2015, 07:56:08 PM »
Plenty of good advice above, so I'll add my own take to spice things up.

I'm in my mid/late 20s and have worked in accounting and now in corporate finance as an analyst. My all in comp. (base, bonus, matching, etc) is ~110k after a recent promotion. It was ~95k for the last 2 years, so I've been doing alright for myself.

My conundrum is that I'm glad I took certain steps to advance my career, but they did come at a cost. I moved to an "okay" city in the midwest to get on this path, 500+ miles away from my old city and most family. I don't necessarily want to go back now, but I would like to live in a more "happening" place for the next few years... if possible. I couldn't imagine spending the majority of my 20s working so hard and not really being happy along the way.

Anyway, I'm still early in deliberations with myself on what I really want in my career, whether I should go back to business school (and for what goal), and also where I'd like to be. I'm coming to the realization that I may be alright with slowing my career progression and/or slowing my net worth expansion (by moving to a more "happening" place) if I end up deciding it will help me feel happier/more fulfilled.

I suppose it's not really a full answer to your question, but I do concur that we all make tradeoffs to some extent. If you asked me a year ago, I would have said "suck it up and make the money, you can be happy later." As I get older, and maybe lazier?, I realize there's much more to happiness than a paycheck, and also much more to my identity than my career... though I admit it is tough to let go.

The struggle is real, though I'm not looking for pity. By many standards, I'm dealing with a lot of 1st world problems.

Hopefully you're able to make a decision that you're satisfied with!

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Re: FIRE without the E...
« Reply #19 on: July 21, 2015, 08:01:27 PM »
I love this thread because the answer comes easy for me: I'd want to start my own company, simply because I KNOW I can do a much better job of it than the people who run my place of employment.

Barring that, I've got a zillion things I need/want/can do. I'm a very project-oriented person and continually frustrated that I don't have time to finish things at home that are important to me.

I get zero social nourishment from work. Generally I sit around all day listening to some form of complaining or problems that have nothing to do with me and don't interest me one bit.  I generally smile and nod and let people go on and on.

Retire-Canada

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Re: FIRE without the E...
« Reply #20 on: July 21, 2015, 08:29:32 PM »

I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I've started my planning too late to retire at 40, but I have so many hobbies and interests that I couldn't do them all even if I was fully retired tomorrow.

Faraday

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Re: FIRE without the E...
« Reply #21 on: July 21, 2015, 09:07:59 PM »

I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I've started my planning too late to retire at 40, but I have so many hobbies and interests that I couldn't do them all even if I was fully retired tomorrow.

+1 vikb

DW and I have been trapped into lives we don't control. We're tired of getting up every day, making the commute, doing the cube thing, coming home, grabbing a bite of dinner, hitting the sack then doing it all over again the next morning.  Weekends are luxury beyond our wildest dreams.

We've never gotten to travel, even within our home state. In June, we realized it had been five years since we'd been to the beach, only a 3 hour drive away. We made a quick day trip, laid on the beach for 3 hours and came home feeling better than we had in months.

Our lives have always been complicated. Some kind of "emergency" or some "hot fire project" at work tying us to the daily grind.

With MMM/frugal living, "emergencies" (think taxes and insurance....sheepish grin) have been dramatically reduced. Our kids are grown and out of the house, we finally have a reliable, new-ish car and we still have our health. So I'm in a panic wanting to get us to FIRE as quickly as possible while there's nothing on our bodies that is broken (for now).

I'd FIRE today if I could because we have enough money now to bridge the gap to social security. But not enough that I would be confident buying health insurance or paying the bills for a significant medical event. So we keep working, planning, and crossing our fingers. I'm hoping to beat a FIRE goal of 2020 by as much as possible....

« Last Edit: July 21, 2015, 09:10:58 PM by mefla »

DeltaBond

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Re: FIRE without the E...
« Reply #22 on: July 22, 2015, 05:26:39 AM »
Oh, 1789 was a pretty bad time to be filthy rich in France. So, be rich but keep it low key :-)

LOL  I like that.

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Re: FIRE without the E...
« Reply #23 on: July 22, 2015, 05:31:58 AM »
I think we can all agree that being financially independent is a better goal than retiring early. When you are financially independent, your basically living life without nothing to lose, you just do what you want to do, if that means you still want to work, then go ahead. Retiring early is not on my view either, there are people who would find many things to do if they weren't working, but in my case, it's the opposite, I don't see myself doing anything and I would end up being bored and I would miss my daily interactions that I get with people at my job. It's all about you, if YOU want to work or save 30% of your income and not more, then that's fine as long as you enjoy life without being a slave to banks because you owe money. Nothing is worse than living your life in a rat wheel.

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Re: FIRE without the E...
« Reply #24 on: July 22, 2015, 07:31:27 AM »
The only constant is that things change. You will change. You might want to work and not need to be FI early, or you might hit a point you just really wish you were FI. There is no down side to hitting FI early. You can then modify your life as you see fit, and please continue working if that is what makes you happy, I expect to work well past FI myself. But giving up that freedom of FI just because you don't feel like you need it right now seems short sighted in my opinion.

flygal

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Re: FIRE without the E...
« Reply #25 on: July 22, 2015, 07:48:07 AM »
Lots of good gems on this thread.  I just want to add two things that resonate on the topic for me. 

1.  You can't buy time.  Spend what time you have left wisely.

2. FU money.  One of my favorite posts ever http://jlcollinsnh.com/2011/06/06/why-you-need-f-you-money/ 
I especially appreciate the nsfw addenddum!

Find your balance and don't let someone else's journey throw yours out of kilter.  It is your journey. 

Rollin

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Re: FIRE without the E...
« Reply #26 on: July 22, 2015, 08:10:19 AM »
I have been pondering for a while the FIRE plan in my life, and it has become so stressful to think about retiring early.  What will I do with my time, how long will I live, how can I save more and more and more and more within my current budget.  I have minimized all I can, shrunk my spending budget as much as I can, and CAN retire early, but it has caused me so much stress that my husband and I realized that we don't HAVE to retire early.  I think that the act of trying to will definitely help us save more, but I have decided that I would like to do a few more fun things while I'm young (I'm 37 now) and can actually enjoy it.  Planning for retirement like this is what my dad did, and he was such a miserable human, still is, that I really don't want to live that way.  I like working, my husband likes working... and we like to save money... I think that's a pretty good combo, honestly.

My godmother lived to 104, and the last 4 years of her life were in a nursing home, costing over $4K a month.  She retired early, worked as a teacher, and ended up having nothing to leave any relatives when she passed because she had to give her house and all belongings to the bank to cover her medical costs and funeral.  Granted, she wasn't a burden on her family, but she really didn't do much on a daily basis that cured any boredom.  She chose to live on a shoestring budget for over 60 years, and again, wasn't a very happy person.

I'm curious about those of you who are trying to 'win' and retire at 40... are you really happy?  Do you have hobbies that fit in to this plan that actually make you look forward to getting up, or are you stressed deep down and fear your future?  Or maybe you hate your job so much you've adopted this plan to make it all worth it, I've seen that on here, too.  But please share, this is just a thought and that's what these boards are for :)

I may be reading into your post (incorrectly), but it sounds as though you are talking about getting FI with expenses plus maybe $1 extra.  That cutting it close will of course put you on a shoestring budget like your mom.  Maybe build in some buffer and "fun" money?  That what I'm doing.  If I need a little more I can work a little more - later.

Kaspian

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Re: FIRE without the E...
« Reply #27 on: July 22, 2015, 01:14:59 PM »
I could never stress about the prospect of having to do nothing.  Think it's a good commentary on society that people do fret about it.   

Me:  "What?  I can just go lay under that coconut tree, do nothing all day, maybe go for a swim if  want?" 
FIRE:  "Yes."
Me:  "And tomorrow too if I want?" 
FIRE:  "Yes."
Me: "Whaaahoooo!!!!  Thanks and smell ya later!" 

Basenji

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Re: FIRE without the E...
« Reply #28 on: July 22, 2015, 01:55:25 PM »
I could never stress about the prospect of having to do nothing.
https://youtu.be/LIln7Z1iInA

DeltaBond

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Re: FIRE without the E...
« Reply #29 on: July 23, 2015, 11:59:44 AM »
+1 to you are FI when you can live a satifying and stressfree life. I missed the point DeltaBond picked up on. You have to have enough to be comfortable. You should add back in fun and recalculate.

Exactly my point, thank you.

Rollin, no, not that tight of a budget, I just know that money goes quickly, and trying to plan to stop working when I don't have any clue how my health will fair or how long I'll live is stressful to me.

« Last Edit: July 23, 2015, 01:17:12 PM by DeltaBond »

Cassie

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Re: FIRE without the E...
« Reply #30 on: July 23, 2015, 01:50:47 PM »
My Mom had to live more frugally as she got really old but she was fine with that because she had done what she wanted. They planned well but just lived way too long:))  Good problem to have.