What are your biggest barriers to FI?

[arebelspy]

Time. I just started on this so my biggest barrier is the 15 or so years it will take.

Time isn't a barrier; you choose when you FIRE.  Choose 4-5 years instead?

;)

[FarmerPete]

How much is enough.  25x living expenses is fine, if your living expenses don't change.  Big things happen all the time.  A big medical problem could eat through savings fast.  I know it's impossible to be 100% safe from risk, but I at least want to have a hedge in case some predictions were wrong or costs go up.  I don't want to ever have to go back to my job again.

Let me get this straight...  You would rather work for years to avoid the risk that you might have to work for years?

Yes and no.  Right now, I have worked my butt off to get a position that compensates me at the upper range of fair compensation for my skill set.  If I left my field (IT work), in 10 years, I'd be so far behind in knowledge and skills that getting an entry level job would be difficult.  The point is, if I'm making 70-80k a year today, if I had to get a job again in 10-15 years, I'd probably be looking at 40k in today's dollars.  So yes, I'd much rather put in a little more time today while I'm heavily compensated, than have to go back and scratch my way to the proverbial top all over again.

[Timmmy]

How much is enough.  25x living expenses is fine, if your living expenses don't change.  Big things happen all the time.  A big medical problem could eat through savings fast.  I know it's impossible to be 100% safe from risk, but I at least want to have a hedge in case some predictions were wrong or costs go up.  I don't want to ever have to go back to my job again.

Let me get this straight...  You would rather work for years to avoid the risk that you might have to work for years?

Yes and no.  Right now, I have worked my butt off to get a position that compensates me at the upper range of fair compensation for my skill set.  If I left my field (IT work), in 10 years, I'd be so far behind in knowledge and skills that getting an entry level job would be difficult.  The point is, if I'm making 70-80k a year today, if I had to get a job again in 10-15 years, I'd probably be looking at 40k in today's dollars.  So yes, I'd much rather put in a little more time today while I'm heavily compensated, than have to go back and scratch my way to the proverbial top all over again.

But if you are concerned about costs going up and not having enough you won't need 80k per year.  You'll need the difference between your planned FIRE income and your actual expenses.  It will likely only be a small amount and landing ANY job should cover your expenses without much trouble. 

Besides you aren't spending 80k per year now are you?  So why would you need to land a 80k a year job if some calculation was wrong or some costs go up?

[Pooperman]

Time. I just started on this so my biggest barrier is the 15 or so years it will take.

Time isn't a barrier; you choose when you FIRE.  Choose 4-5 years instead?

;)

I could FIRE tomorrow if you send me $1.25M. 4-5 years is just not possible. 15 years is achievable. The way I think of it, I spent 20 years in school and will spend 15 years in a job so that I may enjoy the last half of my life my way.

Between SO and I, we have 30k in net worth. Our income is about 70k/yr combined. We spend somewhere about 30k/yr, so figure we can save about 20-25k/yr it's going to take a while to get to FI. 5 years from now, that money (in today's $) would be something like $150k. A great start, yes, but not enough for more than an ERE lifestyle. I like my fancypants (and totally reasonable) ~30k/yr lifestyle thank-you very much! Actually, if I didn't work, I'd spend more than I do now on account of insurance unless I can get HDHP under 250/month in which case it's the same.

[arebelspy]

EDIT: Nevermind.

Good luck!  :)

[Unique User]

Two things - past poor income and/or stupid decisions and wanting to make wait until the kiddo's college is paid for.  But the poor income was a trade off to live in a awesome area of the country, southwest colorado ski town, and only work 6 months out of the year for 15 years. 

[maki]

Right now our biggest barrier is high COL. Oahu ain't cheap, though we try to do it more cheaply than most. (Ex, of all my coworkers, I own the least expensive house with the smallest mortgage.)

Our biggest challenge overall is that hubby and I are not frugal people by nature. He grew up poor and loves that we can afford to buy stuf he didn't have as a kid. I grew up with two very large spenders as my primary role models and still have to fight what we refer to as the "f*ck-its" (as in, "F*ck it, let's just order dinner in." etc.).

Oahu? Hell yeah! I'm there, too!