Do you know anyone who FIRE'd in real life without some big windfall?

[HipGnosis]

I know one person who saved up a years worth of living expenses to quit his job and play WOW for a year. Does that count?

No, one year is not retirement, much less FI.
What did they do when they ran out of money??

[Zikoris]

I also have friends who are SWAMI.

What is "SWAMI"??

Satisfied Working Advanced Mustachian Individual.

It basically means someone who is financially independent or close to it, but continues to work because they like their job, but isn't inclined to tolerate job-related bullshit because they could literally quit on the spot and be fine.

[Jon_Snow]

I just dawned on me that I'm married to a swami. :)

I haven't met any fellow FIRE'ees "in the wild" that were not part of some forum related Meetup. My own (others have met me and can vouch for my "realness") FIRE status was acheived the old fashioned way, hard work, diligent saving and investing, minimalist housing costs (less than $400/month in Vancouver of all places) etc....but it's fair to say that the unique nature of my FIRE, it's QUALITY... in terms of some the places I get to spend considerable time (for free, essentially) are very much as a result of a family related "windfall"...I'm actually enjoying the benefits of this as I am typing this post. I know I'm very fortunate and do not take it for granted. I was certainly mindful of this on my FIRE journey, and it certainly helped to keep me focused on the path to get here.

[Channel-Z]

A former co-worker, who probably never made more than $15/hour, retired two years ago at age 50, after 29 years doing the same job. He claims he has no windfall. However, he never moved out of his parents' house, and still lives there with his elderly folks. As far as I know, he has never paid for housing of any kind. Obviously, he had no wife or children either.

[clifp]

I guess I've met quite a few.  @Nords and @arebelspy from here,  4 of 5 from Early-Retirement.org.  My dad 55, my BIL early 30s the first time and than 55 then 55 the second time.  A Air Froce colonel who retired in his mid 40s.  A guy who worked for me at Intel, I'm guessing his stock options were a couple hundred thousand, good but not a but not enough to be exactly a windfall, retired at 40. At least two engineers in Hawaii that made good money but no windfall and just LYBM.  I've also met a number of cops and firefighters who in retired their late 40s or early 50s.  It is not uncommon for firefighters and cops to have pensions that pay 75-80% of your salary after 25 years or so.

Once you retire you'll meet other early retirees.

[anonymouscow]

I don't know that many people, so I don't know anyone who retired really early.

I don't know if this is along the same lines but most of the people I know who are doing well in life had parents that helped them.

They had their college education paid for, they could always work part time at the family business, or if their career plans failed they could work at the family business and get paid more than any of the non-family member employees. They get a house or apartment, car, insurance, phone paid for by the family, etc.  A big part seemed to be they could try all sorts of things (study abroad, pastry chef, mountain guide, landlord, artist, etc) when those didn't work out they could work at the family business.

Edited to add... these people will probably have an inheritance at some point.

This isn't always the case but the rest of the successful people took much longer to get there. They might be doing well but now it's with student loans, a mortgage, and no retirement savings.

[Villanelle]

Several.  Husband and I run in military circles and for someone frugal, that's a great set up for FIRE.  Most officers are going to reach 20 years of service (and the resulting pension, though the system has recently changed for the newest service members) at about 42 years old, and they may reach an O-6 (rank) pension at about 45-47.  That's about $85k/yr in pension in addition to any TSP contributions or other savings.  (And it's inflation adjusted, and comes with inexpensive health insurance and a few other bennies.)   O-5 at 20 years would be about $54k/yr, so still quite livable. 

Still, a very small percentage of service members do this.  (And of course there are far more enlisted service members than officers, and not all officers make it to O-6, or 25 years, or even to a pension at all.)    But we certainly know a few who have. 

[DS]

I also have friends who are SWAMI.

What is "SWAMI"??

Satisfied Working Advanced Mustachian Individual.

It basically means someone who is financially independent or close to it, but continues to work because they like their job, but isn't inclined to tolerate job-related bullshit because they could literally quit on the spot and be fine.

http://www.mrmoneymustache.com/2011/04/30/weekend-edition-retire-in-your-mind-even-if-you-love-your-job/

[joonifloofeefloo]

... in terms of some the places I get to spend considerable time (for free, essentially) are very much as a result of a family related "windfall"...

I really appreciate you noting this, Jon_Snow. You’ve shared in the past about the windfall that is family land in two locations but I don’t think everyone realizes this aspect of your situation. It’s unusual, and yes, an incredible gift.

I, too, experienced windfalls. Both unanticipated side effects of hard work (i.e. sort of like early Pixar employee), but windfalls nonetheless.

Dicey, re housing appreciation, many people experience that without working on a place. Increasing value through physical renos/decorating/etc is indeed work, like you note. Having a place simply increase in value isn’t.

I’m in the camp that windfalls are any biggish sums not connected with work. I don’t know of anyone from my real life achieving FIRE without a windfall...but I know a LOT of people experiencing windfalls (inheritance, lottery winnings, a bizarre instance of arts patronage, real estate value increased independently of any factor except the local market). Most spent it very quickly and maintain the same financial situation as previously.

[Villanelle]

... in terms of some the places I get to spend considerable time (for free, essentially) are very much as a result of a family related "windfall"...

I really appreciate you noting this, Jon_Snow. You’ve shared in the past about the windfall that is family land in two locations but I don’t think everyone realizes this aspect of your situation. It’s unusual, and yes, an incredible gift.

I, too, experienced windfalls. Both unanticipated side effects of hard work (i.e. sort of like early Pixar employee), but windfalls nonetheless.

Dicey, re housing appreciation, many people experience that without working on a place. Increasing value through physical renos/decorating/etc is indeed work, like you note. Having a place simply increase in value isn’t.

I’m in the camp that windfalls are any biggish sums not connected with work. I don’t know of anyone from my real life achieving FIRE without a windfall...but I know a LOT of people experiencing windfalls (inheritance, lottery winnings, a bizarre instance of arts patronage, real estate value increased independently of any factor except the local market). Most spent it very quickly and maintain the same financial situation as previously.

I'm curious if you apply the same rationale to investing.  (Not challenging you; truly just curious!).  When I put money in the stock market and take it out decades later and it has double or tripled or quadrupled in value, I've done no more work than someone who bought a house and watched it appreciated (while living in it, not running it as a rental, which is indeed work).  But I certainly don't consider my investment accounts a windfall.

[joonifloofeefloo]

That’s a great point, Villanelle. I think for me there’s an additional element re: rate of growth. e.g. If my house took 52 years to gain $200k, I wouldn’t consider that a windfall. If it did so in two, and my circumstances allowed to sell and benefit from the cash gain, I would. Ditto stocks, a business, etc.

[LiveLean]

Quite a few, actually, though it wouldn't be obvious to outsiders since they live in modest homes, drive modest cars and continue to work part-time or even full-time in second or third careers or side projects they enjoy.

[Rosy]

The people I know who FIRE'd in real life without some big windfall all had serious careers, came from backgrounds that gave them a good start and knew how to manage their money well. They mostly retired in their mid to late 50s.
They are not ostentatious and keep to their circles. They know how to protect what is theirs and keep a close rein on their children, teaching them the same habits that made them successful.

The military is the only equalizer that I know of in that you have a better chance to retire in your forties, but then again too many of them came back from the wars with physical impairments and PTSD.

I don't know any truly poor people who made it to FIRE in real life or have a snowball's chance in hell to do so.

I do know several people at all income levels who inherited money or property late in life, 50-60. All of them but one couple parlayed it into an earlier retirement and fixed whatever was wrong with their financial life. For some of them, it was their last and only chance to prepare for and live well in retirement.

[RelaxedGal]

Hardware engineers at Intel make a fair bit of money.  See Retire By 40.  I know one who is now an occasional technical writer but talks far more about playing trombone in a salsa band .  I know another who left to pursue art (ceramics, bead weaving) and let slip that they had saved up 10 years of living expenses.  Both left in their mid-30s.

Truly FI, or just downshifting to a second career?  I don't know either well enough to know if they could get by on their investments but the work they do doesn't seem like the steady predictability of the wage slave.  The Internet Retirement Police would definitely come for them though ;-)