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 plansBasic 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 FI13 years time - Age 40
£320,000 / $531680
Monthly - £1066 / $1771
Rich FI23 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