What (if anything) is worth delaying ER for?

[TheNewNormal2015]

for us it is building a lasting legacy

it makes delaying our ER date a few years (or more) worth it

what is it for you?

[lizzie]

For us, it is paying for our children's college education. We could be ER in less than five years most likely if we weren't doing that; as it is we will be waiting at least until they are finished (8 years) and maybe a few years after that, depending on how expensive school turns out to be.

[Bracken_Joy]

For me, it is good food that leads to good health. Likewise, living in an area with access to this food and the ability to go into the woods for hiking, etc- also for good health. (Mental health included). I can't buy my health back later, and I'm not going to be able to enjoy my ER if I have multiple chronic illnesses and mental health challenges.

I also think kids are worth it. I plan on having a whole bunch (lol), and I know they don't come cheap. That's okay with me though.

[MrFancypants]

Making sure there's enough money for my family to survive in the event that I die earlier than planned.

[fartface]

With a net worth of $780K and my own personal spending rate around $10K/year...my DH and I could both be on FIRE....tomorrow; however, we chose to have three great kids (currently between ages 11-14) and therefore I've decided to stick it out six to eight more years. By then, they'll be adults and hopefully I'll have taught them how to save, avoid debt, and invest for their own ER.

[retired?]

With a net worth of $780K and my own personal spending rate around $10K/year...my DH and I could both be on FIRE....tomorrow; however, we chose to have three great kids (currently between ages 11-14) and therefore I've decided to stick it out six to eight more years. By then, they'll be adults and hopefully I'll have taught them how to save, avoid debt, and invest for their own ER.

It may be for different specific reasons, but, I agree that waiting until kids are out of high school seems wise.  At least in my case, with kids in 5th and 7th grade and my wife working part-time, it is simply hard to fill my time with interesting activities.  Basically, it wouldn't be fair to pursue (travel, working seasonally around the country, etc.) exactly what I want since that would leave them out.

[Retire-Canada]

I suppose it depends what you consider ER.

If you only count stopping any regular work than I'm in the travel/doing fun things now camp and I am putting off FIRE a few years [depends on investment growth].

If you consider radically changing your relationship with work [aka downshifting] ER than I'm doing it earlier not delaying it. Waiting for enough $$ in my investments to not have to earn another dollar would take about 5-8yrs of working full-time. OTOH I can start taking months of extra time off starting next year and increasing each year. It's possible I may not stop working entirely depending how it feels to work 3-6 months a year vs. working full-time.

What makes this a reasonable choice for me is that the opportunity cost of having time off now is more valuable than time off in 5yrs+ when my health could change. However, with multiple months off in a year I can achieve most of my "dreams" while still earning enough to let my investments grow to the size I need for FI.

I've known a number of people that died young including a 35yr old friend in 2014. That has made me not take for granted I'll be around in 20yrs to enjoy the $$ in my investments.

-- Vik

[frugalnacho]

With a net worth of $780K and my own personal spending rate around $10K/year...my DH and I could both be on FIRE....tomorrow; however, we chose to have three great kids (currently between ages 11-14) and therefore I've decided to stick it out six to eight more years. By then, they'll be adults and hopefully I'll have taught them how to save, avoid debt, and invest for their own ER.

I don't understand why delaying 6-8 years is going to be more effective at teaching your kids to save, avoid debt, and invest than just retiring right now is.  Seems like it would be far less effective.

[thd7t]

Happiness at work.  If you're happy working, don't retire.

[couponvan]

For us, it is paying for our children's college education. We could be ER in less than five years most likely if we weren't doing that; as it is we will be waiting at least until they are finished (8 years) and maybe a few years after that, depending on how expensive school turns out to be.

+1
My PT salary is specifically planned to cover my children's college expenses. 12 years of college = 12 years to work. I stayed home for 5-6 years when they were little, but we weren't saving enough to pay for their college. It is a priority for me.  DH doesn't buy into FIRE at all. Baby steps - I think once he really sees our investment earnings exceeding our expenses and college costs out of the way he will be on board. Planned FIRE - 11 years age 55. Stretch FIRE - 8 years age 52 (if #3 college expenses can be offset by decreased living expenses w no kids at home).

[MrsPete]

Two things:

- Seeing my children through college debt-free.

- Working so that I have not "just enough" to retire, but enough to insure against future inflation and unforeseen expenses.  I want to know that I have enough to travel, to provide a few splurges for future grandchildren, and to know that I can live comfortably. 

[Cougar]

- Working so that I have not "just enough" to retire, but enough to insure against future inflation and unforeseen expenses.  I want to know that I have enough to travel, to provide a few splurges for future grandchildren, and to know that I can live comfortably.

second this.

allow the peer/family pressure to working to keep up with the consumer society keeps me working, staying around the house for 40 years because i didnt save enough for unseen expenses doesnt sound too fun; i would like to see more than the backyard.

[Sojourner]

My PT salary is specifically planned to cover my children's college expenses. 12 years of college = 12 years to work. I stayed home for 5-6 years when they were little, but we weren't saving enough to pay for their college. It is a priority for me.  DH doesn't buy into FIRE at all. Baby steps - I think once he really sees our investment earnings exceeding our expenses and college costs out of the way he will be on board. Planned FIRE - 11 years age 55. Stretch FIRE - 8 years age 52 (if #3 college expenses can be offset by decreased living expenses w no kids at home).

I get a feeling of I guess envy when I see so many posts where parents sacrifice so much of themselves to provide for their adult kids, such as working many extra years to pay for their college.  I was not so fortunate, having to work my way thru, plus pursuing as much scholarship money as I could.  Forced me to live on a very tight budget.  Ended up with $2K of loan debt that I payed off right after getting my first full time job.  I think overall this taught me discipline and frugality that I'm not sure I would have otherwise gained at such any early age. 

[supomglol]

Life Experiences.

One of my greatest regrets is staying local for College.  Did I save money?  Tons.  But at what cost?

[Gone Fishing]

A little more?  Seriously though, we hit "our basic lifestyle" FI last summer, while I am sure ER would have been great at that point the extra 12-18 months of work I am planning on will provide for some extra fun money plus some insurance for the unknown.

[Pigeon]

My PT salary is specifically planned to cover my children's college expenses. 12 years of college = 12 years to work. I stayed home for 5-6 years when they were little, but we weren't saving enough to pay for their college. It is a priority for me.  DH doesn't buy into FIRE at all. Baby steps - I think once he really sees our investment earnings exceeding our expenses and college costs out of the way he will be on board. Planned FIRE - 11 years age 55. Stretch FIRE - 8 years age 52 (if #3 college expenses can be offset by decreased living expenses w no kids at home).

I get a feeling of I guess envy when I see so many posts where parents sacrifice so much of themselves to provide for their adult kids, such as working many extra years to pay for their college.  I was not so fortunate, having to work my way thru, plus pursuing as much scholarship money as I could.  Forced me to live on a very tight budget.  Ended up with $2K of loan debt that I payed off right after getting my first full time job.  I think overall this taught me discipline and frugality that I'm not sure I would have otherwise gained at such any early age.

I'm perfectly happy to continue working in order to put my kids through college debt-free.  Personally, I wouldn't have had them otherwise, but of course, others are entitled to feel differently.  My folks put us through college, as did dh's folks.  We are both naturally pretty frugal.  We had parents who sacrificed, we saw what they did, learned from them and we both appreciated it very much.  I don't think one necessarily needs to pay off college loans in order to learn frugality. 

[Cookie78]

I've been thinking about this thread all day and I still haven't come up with anything. I'm at that stage where I want it badly and I want it immediately. Instead I'm trying to cut things out to get to FI faster.

There are small things that are costing me money I could otherwise be saving, like my dog who is normally healthy, but hasn't been for the last 4 months. And a relatively expensive upcoming trip I'd planned before I discovered the FI dream that I feel obligated to follow through on.

But I don't have kids or other major long term obligations or goals right now that are worth delaying ER for.

[zinethstache]

I am very close now on paper, but per my business plan were ahead of schedule and I haven't reconciled that yet. We've attacked FI on two fronts. 1. save/invest per plan and 2. cut spending down to just about our FIRE spending levels so we can acclimatize.

I have 2 more years of activities planned but darn it, the numbers have "arrived" already!

DH would say it is worth delaying to finish our original investment plan - that is 3 more years, he doesn't trust the fact that my retirement accounts have grown so much and is expecting a crash at any time.

I guess it is wise to do some of the OMY given the markets... I do plan to revisit the potential to FIRE at the end of the year... don't want to go overboard on the OMY syndrome I am now in.

AND...it is a GREAT place to be!

[Meggslynn]

Children - providing enriching experiences, helping with post-secondary and just having them period

and

Experiences - who says I am going to even be alive when my FIRE date comes? I am not going to put off something I really want to do in order to get that much closer. For example, Andrea Bocelli is performing in Vancouver this summer (the closest he has ever come my home). I have dreamed since I was a teenager of seeing him live so I am spending $350 on a airplane ticket, $340 on the YWCA hotel, $300 on the ticket, and probably another $300 on food and transportation while I am down there.

[steveo]

Children.

I was about to post that I have 3 kids and that has definitely delayed ER. The thing is it wasn't a concious decision.

[couponvan]

My PT salary is specifically planned to cover my children's college expenses. 12 years of college = 12 years to work. I stayed home for 5-6 years when they were little, but we weren't saving enough to pay for their college. It is a priority for me.  DH doesn't buy into FIRE at all. Baby steps - I think once he really sees our investment earnings exceeding our expenses and college costs out of the way he will be on board. Planned FIRE - 11 years age 55. Stretch FIRE - 8 years age 52 (if #3 college expenses can be offset by decreased living expenses w no kids at home).

I get a feeling of I guess envy when I see so many posts where parents sacrifice so much of themselves to provide for their adult kids, such as working many extra years to pay for their college.  I was not so fortunate, having to work my way thru, plus pursuing as much scholarship money as I could.  Forced me to live on a very tight budget.  Ended up with $2K of loan debt that I payed off right after getting my first full time job.  I think overall this taught me discipline and frugality that I'm not sure I would have otherwise gained at such any early age.

I received an inheritance which combined with going to Junior College first allowed me to graduate without debt.  But I worked at least 30 if not 40 hours a week all along the way. My parents "might" have paid if I'd kept up with their religion.  They had a "nice" husband picked out for me and wanted me to go to secretarial school instead. ;-)

I'll try not to pick out my kids' spouses....I may give the "I'm the one working so you can go to college, so you better appreciate me and do well - otherwise the money stops and I'm retiring" line.

[Rural]

Delaying ours now to get my husband out of a soul-sucking job. More than worth it, especially given that I really like my job.

[matimeo]

Eearly Retirement is not my goal, since I want to be doing something meaningful with my life until the end, whether or not I am getting paid for it. Financial Independence is the goal, since that means I can do what I want on my own terms.

I think people in these forums get googly eyed when they think about retiring early, but I think they're missing the point.

[ShaneD]

Spending time with my spouse while we have it.

[DesireeD]

Making sure there's enough money for my family to survive in the event that I die earlier than planned.

I plan on never dying!

[retired?]

Eearly Retirement is not my goal, since I want to be doing something meaningful with my life until the end, whether or not I am getting paid for it. Financial Independence is the goal, since that means I can do what I want on my own terms.

I think people in these forums get googly eyed when they think about retiring early, but I think they're missing the point.

You're googley eyed, but you are from Portland, so that is good.

Not getting paid for work that you choose to do IS RE.  You don't yet understand how people on this forum are using words.

[retired?]

Children - providing enriching experiences, helping with post-secondary and just having them period

and

Experiences - who says I am going to even be alive when my FIRE date comes? I am not going to put off something I really want to do in order to get that much closer. For example, Andrea Bocelli is performing in Vancouver this summer (the closest he has ever come my home). I have dreamed since I was a teenager of seeing him live so I am spending $350 on a airplane ticket, $340 on the YWCA hotel, $300 on the ticket, and probably another $300 on food and transportation while I am down there.

To use my kids terminology, "that is so cra-cra".

[MrFancypants]

Making sure there's enough money for my family to survive in the event that I die earlier than planned.

I plan on never dying!

ha!

That must make the 4% SWR thing really tricky.  :D

[mathlete]

+1 all the "Experiences"

Traveling the country and the world. Seeing my favorite bands and comedians live. Going to see once in a generation sports stars play live. I'm pretty sure I won't regret doing these things in my 20s when I'm working a few extra years in my 40s.

[JustGettingStarted1980]

My PT salary is specifically planned to cover my children's college expenses. 12 years of college = 12 years to work. I stayed home for 5-6 years when they were little, but we weren't saving enough to pay for their college. It is a priority for me.  DH doesn't buy into FIRE at all. Baby steps - I think once he really sees our investment earnings exceeding our expenses and college costs out of the way he will be on board. Planned FIRE - 11 years age 55. Stretch FIRE - 8 years age 52 (if #3 college expenses can be offset by decreased living expenses w no kids at home).

I get a feeling of I guess envy when I see so many posts where parents sacrifice so much of themselves to provide for their adult kids, such as working many extra years to pay for their college.  I was not so fortunate, having to work my way thru, plus pursuing as much scholarship money as I could.  Forced me to live on a very tight budget.  Ended up with $2K of loan debt that I payed off right after getting my first full time job.  I think overall this taught me discipline and frugality that I'm not sure I would have otherwise gained at such any early age.

This!

I agree with the envy bit. I'd also add that for every YOU that was able to live frugally and finish with 2 K in debt quickly paid off, there are probably 20 people that did not minimize expenses and maximize scholarships, who graduated with 20K+ in debt.... so why didn't they learn the same lesson despite being in the same situation?

[JustGettingStarted1980]

My top 3:
1. Kids education (there is no price too high, as far as I'm concerned)
2. Travel -both before retirement and after -> nothing else has ever given me the same mental rush
3. FU Money (thanks Jim Collins!) -because sometimes "getting by" is not the same thing as "living". And 40 years of retirement is a VERY long time.

[mathlete]

I get a feeling of I guess envy when I see so many posts where parents sacrifice so much of themselves to provide for their adult kids, such as working many extra years to pay for their college.  I was not so fortunate, having to work my way thru, plus pursuing as much scholarship money as I could.  Forced me to live on a very tight budget.  Ended up with $2K of loan debt that I payed off right after getting my first full time job.  I think overall this taught me discipline and frugality that I'm not sure I would have otherwise gained at such any early age.

The bolded is a nice sentiment, but all else being equal, I think having parents who pay your way through college is advantageous.

I am similar to you in that I paid my way through college with jobs and scholarships  and miraculously graduated with no debt. It was a good experience just to prove to myself that I could do it, but I could have learned money management skills without having to go through such a forge. I had already saved most of my income from age 16 to 18 before knowing that I'd be paying for my own college. In all likelihood, if I had the benefit of parents to pay the costs I imagine I'd be about where I am today + like, $50,000 or something.

[Nate R]

Eating meat.

Yes, I could probably get my grocery bill down if I had cheaper sources of protein, but my wife and I agreed we'd rather eat meat and delay FI over not doing so.

[Bracken_Joy]

Eating meat.

Yes, I could probably get my grocery bill down if I had cheaper sources of protein, but my wife and I agreed we'd rather eat meat and delay FI over not doing so.

YES. +1. +1000. I just... hate beans. I really do. And I love meat. And I prefer my meat be local and well raised, or something I have hunted. I'm willing to pay the price tag on this. My taste buds, conscience, and my health like me better when I do.

[ShaneD]

+1 all the "Experiences"

Traveling the country and the world. Seeing my favorite bands and comedians live. Going to see once in a generation sports stars play live. I'm pretty sure I won't regret doing these things in my 20s when I'm working a few extra years in my 40s.

Yep. And I can vouch that doing such things in your 40s: also worth it. I totally hear Meggslynn (on the experience generally, though not on the artist specifically).

[southern granny]

Helping my children and spoiling my grandchildren... and travel.

[2Birds1Stone]

Buying a 2015 Nissan GTR Black Edition.

[Nate R]

Eating meat.

Yes, I could probably get my grocery bill down if I had cheaper sources of protein, but my wife and I agreed we'd rather eat meat and delay FI over not doing so.

YES. +1. +1000. I just... hate beans. I really do. And I love meat. And I prefer my meat be local and well raised, or something I have hunted. I'm willing to pay the price tag on this. My taste buds, conscience, and my health like me better when I do.

+1 on the well raised, or hunted meat. I'm hoping to have more time to hunt more in ER. :-)

[Bracken_Joy]

Eating meat.

Yes, I could probably get my grocery bill down if I had cheaper sources of protein, but my wife and I agreed we'd rather eat meat and delay FI over not doing so.

YES. +1. +1000. I just... hate beans. I really do. And I love meat. And I prefer my meat be local and well raised, or something I have hunted. I'm willing to pay the price tag on this. My taste buds, conscience, and my health like me better when I do.

+1 on the well raised, or hunted meat. I'm hoping to have more time to hunt more in ER. :-)

One of the reasons I want to FIRE! I've only made it out for deer hunting 1 of the last 4 years =( luckily fiance has more control over his schedule, and my family + our hunting camp partners do a "meat community" type deal, keeping everyone with some game at all times. Hoping I can pay everyone back soon!

[Cookie78]

Eating meat.

Yes, I could probably get my grocery bill down if I had cheaper sources of protein, but my wife and I agreed we'd rather eat meat and delay FI over not doing so.

YES. +1. +1000. I just... hate beans. I really do. And I love meat. And I prefer my meat be local and well raised, or something I have hunted. I'm willing to pay the price tag on this. My taste buds, conscience, and my health like me better when I do.

+1 on the well raised, or hunted meat. I'm hoping to have more time to hunt more in ER. :-)

Me too. Lots more. Last year I only went up (to where my family lives and knows the land, land owners, and wildlife habits, and where the game is plentiful) for 2 long weekends. 8 hour drive each way. It's much better if I can take a full week off, but what I'd really like to do in ER is spend 4 months there, 2 of which are hunting season and 2 of which are garden/harvest season. Plus I'd get to see more of my family and help them out and watch my nieces and nephews grow up.

[Sojourner]

I don't think one necessarily needs to pay off college loans in order to learn frugality.

Was more referring to the overall experience of, once I reached adulthood, I was on my own in general and, out of necessity, lived frugally and still do.  After college, my next goal was to become professionally licensed as a career move to boost myself into the higher salary ranges.  I recall planning this from high school age because I could see there would not be significant financial support from parents and I was wanting to break from what I began to realize was a lower class upbringing.  This became apparent soon after arriving at college far from home and noticing friends and acquaintances were from more supportive and affluent families.  They didn't need scholarships or jobs and had time for activities like join fraternities/sororities, whereas I had to use non-study time to keep myself financially above water.  Anyway, that was my experience.  Didn't mean to imply your children won't do well.  Like I said, envy.

We don't have children.  Don't feel we could offer them a good enough life in an increasingly crowded world.

[choppingwood]

Experiences - who says I am going to even be alive when my FIRE date comes? I am not going to put off something I really want to do in order to get that much closer. For example, Andrea Bocelli is performing in Vancouver this summer (the closest he has ever come my home). I have dreamed since I was a teenager of seeing him live so I am spending $350 on a airplane ticket, $340 on the YWCA hotel, $300 on the ticket, and probably another $300 on food and transportation while I am down there.

+1

In my spendy days, I travelled across the country at different times to concerts: Rostropovich playing the cello, YoYo Ma, and George Carlin. Not a penny of this was misspent in my books.

[Jomar]

Time- I would take a 5 week vacation this year for sure (and I did, actually), even though it means I will be delaying my ER by at least 5 weeks, likely more like 6 or 7. As long as I'm not going into debt over it, I will never sweat taking time off work.

[CheapskateWife]

Completing our child support obligation.  Being able to be sure we could provide as required has definitely put us in the category of delaying ER until the legal shenanigans are over.

Please don't construe this as me being bitter about paying support to his ex, because I am not.  The hesitation to ER comes with the unknown of legal costs, and if we are at liberty to "no longer have to work", would a judge 4 states away decide that we should be paying more because we are "underemployed intentionally".  Yup, that's a thing.