Success story

[merry1]

Hi, I'm a fifty-something recovering from a bad divorce. A year ago I had nothing but debt and an alcoholic spouse on a certain road to financial disaster. Today I have saved about $20,000 in a 401k, almost paid off a small house in a retirement community in Mexico, a fixer-upper that I fixed up, and drive a long paid-off 2001 MBZ. I did this all before I found MMM.

I'm doing some goal-setting and want to reach financial independence within 5 years. I'm looking for like-minded folks, and this looks like a vibrant and active community.

Hi folks, I just wanted to give you an update to let you know that FIRE REALLY WORKS! I've lived and breathed FIRE since I first posted, and I am happy to say I'm retiring in 26 more days. I've worked like a dog and banked about 70% of my paycheck. As a result I learned I can live quite well with not much. I downsized several times which made it a lot easier, though I wish I had had the courage to downsize sooner.

Now I'm packing and getting ready to move. Tomorrow I tell my boss. WOO HOO!!!

Merry1

[LWYRUP]

Congrats!!  Four years (from your divorce) is really rapid progress!!  How did you do it?

You should also post another update a few years from now to tell us how FIRE is going. 

[BikeFanatic]

More details please  to inspire us 50 something year olds!!

[Adventine]

This young one wants to hear more details too!

[merry1]

Thanks all,

Okay I walked into a great-paying job at a tech startup where I could bank most of my paycheck. (I didn't even have a resume and I couldn't find my LinkedIn profile during the interview, but they hired me anyway and I gave them my resume then) That was sheer luck, I was just in the right place at the right time with the right education, training and experience.

I moved to an apartment a 40-minute train ride from downtown. That saved me a lot. It was on a hike and bike trail so I could jog everyday right outside my door.

I downsized from 2 bedrooms and a garage to just one bedroom after a year. I downsized to a studio the second renewal. I wish I could have started with the studio, but I didn't have the wherewithal to go through my things and get rid of them yet.

As I mentioned I bought the house in Mexico. It was $35K and I put $15K into renovating it. I rented it out because it's in a high-demand vacation area. Note this was one of the last great deals in the area, prices have risen significantly since then and my house has doubled or tripled in value.

I drove a 2001 Mercedes SLK 320 that I've owned for 13 years, and refused to upgrade. I kept it in great shape and got many compliments on it. I now have that for sale on Austin Craigslist if anyone is interested since I'm moving to Mexico. It is a solid car that will keep going for another 120,000 miles. It is a great FIRE car!!! (Bought 13 years ago for $10k, selling $5k... you do the math!)

I practiced living different income levels, calculating the equivalents for Mexico to here so I KNOW that I can live fine at the level I have chosen. You get the cash and live at $500 a month, $1,000 a month, $1200, $1500 $2000 etc. and see how much you have to sacrifice or not to live at that level. Note that in Mexico most of these levels also include a maid and gardener. (!)

I used an extremely simple wealth-tracking app called Wealth+. It showed me a steady increase in wealth even when it didn't "feel" like I was making anything that month. I do recommend it for those who aren't inclined to use spreadsheets or complicated methods.

I got some startup stock. I don't know if the company will go public. It's my 10% total risk investment. It's okay if I lose it all. I'm not counting on it for anything and don't need it to live a good life.

I've worked like a dog and my body has suffered for it. I've either been working, exercising or recuperating. Or planning and dreaming of FIRE. I feel like if I kept going and tried to earn an excess, my body might give out and I might have permanent damage. I'm getting out now while the damage is minor.

That's my FIRE story. Hope you enjoyed it!

[big_slacker]

Congrats, it's always great to hear stories like this! It would also be cool to hear an update in 3 months, 6 months and a year. Keep us posted!

[merry1]

I also need to add something. I worked on my health the entire time I was consumed by FIRE. The book "How to Retire Happy, Wild & Free" was the reason I did that. The author points out that if your retirement money is consumed by medical treatments then your retirement is nothing. Many illnesses are caused by or exacerbated by our lifestyle. I worked to minimize stress but I know the rest of my stress will ease when I retire in 20 more days. "There is no wealth without health."

The research is out there, read medical research to find the root causes of illness, do not just accept masking symptoms. If you have an illness, ask what causes it. The root cause. I learned it takes 30 years for the medical industry to accept a paradigm shift. That means medicine being practiced today is based on research more than 30 years old. Your doctor does not have the time to keep up with advances in research--they are so pressed for time that they accept what medical reps feed them, research that is biased towards their solution. Thirty years from now, people will be widely applying the medical knowledge that is already available today.

Above all, don't take my word for it--research it for yourself.