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29y/o obsessed with ER
Old 01-10-2010, 04:55 PM   #1
Confused about dryer sheets
Join Date: Jan 2010
Location: Alberta
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29y/o obsessed with ER

Hi everyone been lurking here for quite a while, I'm 29 year old male from Western Canada, married with 2 little ones. I have been dreaming/obsessing about retirement for several years now, mostly because I don't like my career but it pays to well to quit. Even if I liked my job I probably wouldn't want to work anyways maybe I'm just lazy LOL. Net worth is approx $600,000 mostly from Real estate, we have not had the housing bust like the USA has had but I fear it's coming, were following the same path of mistakes that led to US crash.
My goal is to retire at around 40, or at least work seasonal or very part time. I could live quite happily on $35,000 as long as every things paid off. Cheers

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Old 01-10-2010, 06:03 PM   #2
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Welcome from another westerner. There's a few of us here, I think you're at least number 6.

My only suggestion is that while dreaming is ok, don't to obsess over anything. Especially things that you can't easily change. With 2 little ones, you'll have a tough time living "quite happily" on 35K, at least until the little ones are launched.

Good luck in the future.

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Old 01-10-2010, 06:26 PM   #3
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Location: Vancouver/Gulf Islands/Baja
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37 year old early retirement obsessed western Canadian here.

Hoping to pull the plug at 45... no kids, good household income, and low housing costs make this realistic.

But all it would take to de-rail this plan would be a loss of one of our two incomes (wife's and I). Current net worth around 800k, but a good chunk of that attributable to the Vancouver real estate bubble, which the OP stated correctly, could burst anytime now.
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Old 01-10-2010, 06:27 PM   #4
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Hi from a fellow 29 year old married guy with 2 kids, a little smaller net worth (mostly investments), paid decently hence not quitting, but lazy. Same goal here - roughly age 40 for FIRE, but potentially semi-FIRE a bit before that. $35,000/yr is roughly the number I have for the basics (with everything paid off). Now that health insurance is likely to be free/cheap for us US based ER's, the only thing I have left on top of the $35,000 a year is an estimated $12,000/yr travel budget. Plus unknown lumpy kid expenses (they'll still be in school when we ER).

I'm curious if your current career has anything to do with civil engineering ("mudguy")?

I gave up obsessing about ER a few years ago since there's very little I can do to significantly accelerate FIRE. Even getting paid 2x my current salary would only trim a couple years off the FIRE date. Everything is on auto-pilot investment-wise for the most part. Track net worth in detail quarterly, although peek at investments daily. I don't really do a "how long till FIRE" calculation unless it is a particularly crappy/boring day at work. I know the rough portfolio value I'm shooting for and I know I'm 7-10 years away from that number at this point. In the mean time, my hobbies primarily consist of "enjoying life"!
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (6, 12, and 13).
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Old 01-10-2010, 07:29 PM   #5
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Nothing wrong with being a little obsessed if FIRE is important to you. I have been obsessed with it since 23 and I have 6 months left. But my mom had some great advice. Don't wish your life away. In other words, don't forget to live today and enjoy life waiting for retirement.

As far as enjoying your job, that is up to you. I haven't enjoyed my career as much as I could have, but I made the choice to go for the pension when I was 23 and I willingly put on the golden handcuffs. I rarely hated it, but I never loved it either. If you have the ability to change jobs or careers, at least consider it. Why be miserable now with the expectation you might retire at 40 and be happy. 11 years is LOOOOONG time, trust me. Everything in life is a trade off, but if you are not happy you need to change that. Again, only you can decide that.
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Old 01-11-2010, 12:44 AM   #6
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Welcome! 31-year-old here, also obsessed with ER. I am very impressed at the sizable networth you've accumulated at your young age. Keep up the good work -- and try to not be too obsessed! There's been a bunch of threads lately from young dreamers being too focused on FIRE to enjoy the ride.
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Old 01-11-2010, 10:33 AM   #7
Confused about dryer sheets
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Thanks for all the replys, I have been trying to get over the obsession these last few years, I remember when I started investing, would check my few stocks I had twice a day LOL. Fuego I'm not a civil Engineer but I do have Engineer in my title, no formal schooling for it though. Work In the Oil and Gas Industry one of the few places an 18 year old can make 100K a year. The job it self is great it's the life style I don't like. Spend +200 days living in hotel rooms or remote camps, feel like I'm missing out on a lot of living including watching the kids grow up, It is not uncommon to work 90 days straight 12-16 hour days with out being home, but I do get 2-3 weeks off in stretches though some times a month, so that makes up for it a bit. I will have to make some tough decisions in the next few years, either continue what I'm doing and retire early, or take a job closer to home so I can take my kids to hockey ect and retire 10 years later. I don't see myself working in an office though, just not me.
I do make a high Income but must of my networth came from luckily buying my first house and farm land prior to the real estate Boom, all the stocks I have bought over the years just lost me money. My biggest concern now is whether to sell my land while it's high and take a profit or hold on, it's paying me a return of 6% and steadily appreciating, but with the rocky economy things could go bust any time.

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