Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Fat Fire-ees - are you out there?
Old 07-31-2018, 06:57 PM   #1
Recycles dryer sheets
 
Join Date: Oct 2015
Posts: 307
Fat Fire-ees - are you out there?

I hear the term Fat Fire and frankly wonder what defines this? I know I am not the norm, but also know from reading various posts there are Fat Fire brethren out there on this site. While a "relative frugalist" at heart, I have been fortunate to make a nice living and pack away some dough in the process. Applying the same principles as most on this site, I plan for Fat Fire when I retire at the end of 2019. I will be going cold turkey, no DW income, no pensions, no grandma mailbox $$, just me and my investments. Will be 55 next year and hope to have kid 3 & 4 off the payroll. I am debating on keeping my remaining home debt in the low 3% range, but will probably pay it off just because I like the idea of zero debt. My planned RE burn right now is $300K/yr (inc taxes), but that includes a significant amount of discretionary. I also think my early years of RE will have the highest burn rate so most likely, my planned spend rate will not run into perpetuity, despite planning for a static + inflation spend. I am really curious as to how the Fat Fires have experienced their expenses after say 5 - 10 years, especially based on a higher burn rate? Are they still spending at the same level or do they hit a wall and find it's a good bit less.

Come on Fat Fires, I know you are out there!
__________________

DawgMan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-31-2018, 07:07 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Posts: 1,900
first I've heard the term Fat Fire.
__________________

bingybear is offline   Reply With Quote
Old 07-31-2018, 07:15 PM   #3
Recycles dryer sheets
 
Join Date: Apr 2011
Posts: 82
Quote:
Originally Posted by bingybear View Post
first I've heard the term Fat Fire.
+1

I thought the thread was going to be about being overweight in ER.
kevdude is offline   Reply With Quote
Old 07-31-2018, 07:15 PM   #4
Recycles dryer sheets
 
Join Date: Aug 2008
Posts: 138
I was hoping this was the alternate to the thread "Weight Loss".
Mmm Rrr is offline   Reply With Quote
Old 07-31-2018, 07:52 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Apr 2013
Posts: 6,703
I've seen it on another place. Contrast lean fire with fat fire. You got more bread.

Opposed to these guys they didn't want no bread.

"Lazy you just stay in bed
Lazy you just stay in bed
You don't want no money
You don't want no bread"

https://youtu.be/YXcbHmV004A
MRG is offline   Reply With Quote
Old 07-31-2018, 08:30 PM   #6
Recycles dryer sheets
 
Join Date: Nov 2015
Location: Hometown
Posts: 61
All right, I'll call my ER FatFire, but I'm just a bit more than 2 years in. My expenses did indeed go up post retirement. First off vacation expenses went up quite a bit. We've done 2 Europe vacations per year on top of 2-3 domestic air travel vacations per year on top of a number of weekend get-away car trips (the car trips aren't all that different from when we were working though). Our vacations typically are 3-4 weeks long - so higher frequency and longer duration then when we were working. With all the travel for the first time ever for us we hired out plowing service last winter and also for the first time hired out lawn service (even though I never minded/kind of enjoyed doing it myself). My work commute was very short, now having the time to help my DD and SIL on the other side of the city I'm driving a whole lot more, so car related expenses are actually up too. Having time I signed up for classes at the local college and since I'm not yet 60 I'm paying tuition there. We go out to the movies a whole lot more, although we do go on the cheap day matinees, because why pay more if you don't have to. We're now starting on home repairs that were deferred just due to out lack of time when working - those expenses are on the verge of escalating quickly, but ultimately are part of our plans to both enjoy our house over the next few years as well as prepping it for sale for an eventual downsize. I too expect an actual decrease in expenses somewhere down the road, but for now our attitude is to travel and enjoy life to the fullest while we're still youngish and healthy. Oh, and once we reach Medicare age our high expense non-subsidized health insurance (a major increase in our spending) will go away.
__________________
Retired @55 in 2016 - enjoying every moment of it.
FireFool is offline   Reply With Quote
Old 07-31-2018, 08:36 PM   #7
Full time employment: Posting here.
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 908
Could someone please define the term? I don't even know what we're talking about.
ER Eddie is offline   Reply With Quote
Old 07-31-2018, 08:47 PM   #8
Dryer sheet aficionado
 
Join Date: Jul 2018
Location: LA
Posts: 25
What is a Fat FIRE? I have a similar burn rate and know it is high but I am looking for ways to reduce the burn. Ive got the assets to cover it but would like to hear more .
__________________
A persons wealth is measured by what they can afford to do without.
Franklin is offline   Reply With Quote
Old 07-31-2018, 08:49 PM   #9
Dryer sheet aficionado
 
Join Date: Jul 2018
Location: LA
Posts: 25
lastly ....go Dawgs!
__________________
A persons wealth is measured by what they can afford to do without.
Franklin is offline   Reply With Quote
Old 07-31-2018, 08:55 PM   #10
Recycles dryer sheets
 
Join Date: Nov 2015
Location: Hometown
Posts: 61
Quote:
Originally Posted by ER Eddie View Post
Could someone please define the term? I don't even know what we're talking about.
There's a whole thread (actually multiple) on the vagaries of what defines FatFire over on Reddit. What I saw best describing how I view the differences was posted in this particular thread (not by me though) - https://www.reddit.com/r/fatFIRE/com...at_is_fatfire/

"I think there is an easy way to define leanfire/fire/fatfire. Take a look at the yearly income the person is planning. One short hand for Leanfire is <= $40k/yr and fatfire is > $100k/yr. However, where do those numbers come from?

I think the numbers for leanfire/fire/fatfire correspond roughly to income quintiles. Leanfire people are comfortable being in the bottom 40% of income, fire people are comfortable in the next 40%, and fatfire are comfortable in the next, and top, 20% of income. This 40/40/20 split corresponds, in 2016, to the income levels of <=$42k / between $42k and $110k / and >$110k according to us census data."
__________________
Retired @55 in 2016 - enjoying every moment of it.
FireFool is offline   Reply With Quote
Old 07-31-2018, 08:55 PM   #11
Thinks s/he gets paid by the post
RobbieB's Avatar
 
Join Date: Mar 2016
Location: Central CA
Posts: 3,277
I didn't plan anything so dunno. I can tell you I'm blowin more dough retired than when I was working.

With 300 grand a year to blow you should have big fun!
__________________
Retired at 59 in 2014. Should have done it sooner but I worried too much.
RobbieB is offline   Reply With Quote
Old 07-31-2018, 08:56 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 3,129
At first I assumed the OP was talking asking about other overweight early retire people. Now it seems he is talking about rich people. People retiring early with a very large amount of money. What qualifies as 'very large' varies person to person. I say if you are taking 4% and that gives you a six figure sum to spend then that would be a large sum.
aaronc879 is offline   Reply With Quote
Old 07-31-2018, 09:07 PM   #13
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 40,545
Quote:
Originally Posted by kevdude View Post
+1

I thought the thread was going to be about being overweight in ER.
Me too! I was about to post.... "ME!! But I'm working on it."

I don't spend $100K+. I do have enough. Who defines what "enough" is? Me.
__________________
100% retired since 2009 and never plan to work for anybody ever again, paid or not. Retirement funded by Social Security, mini-pension, and investments (AA 45:55, mostly Vanguard). Debt free with no mortgage and over-the-moon happy to be retired.
W2R is offline   Reply With Quote
Old 07-31-2018, 09:14 PM   #14
Dryer sheet aficionado
 
Join Date: Jul 2018
Location: LA
Posts: 25
thanks I just finished reading the sites referencing fat fire and there is even a morbid FIRE. TMI for me. All i know is my burn rate and investable asset balance. I am FAT but would love to loose some weight! Ive only been off the payroll for 7 months but my biggest surprise was the things I didn't expect (kids needing $). That is another subject well documented on another post.
__________________
A persons wealth is measured by what they can afford to do without.
Franklin is offline   Reply With Quote
Old 08-01-2018, 04:35 AM   #15
Recycles dryer sheets
 
Join Date: Oct 2015
Posts: 307
Quote:
Originally Posted by FireFool View Post
There's a whole thread (actually multiple) on the vagaries of what defines FatFire over on Reddit. What I saw best describing how I view the differences was posted in this particular thread (not by me though) - https://www.reddit.com/r/fatFIRE/com...at_is_fatfire/

"I think there is an easy way to define leanfire/fire/fatfire. Take a look at the yearly income the person is planning. One short hand for Leanfire is <= $40k/yr and fatfire is > $100k/yr. However, where do those numbers come from?

I think the numbers for leanfire/fire/fatfire correspond roughly to income quintiles. Leanfire people are comfortable being in the bottom 40% of income, fire people are comfortable in the next 40%, and fatfire are comfortable in the next, and top, 20% of income. This 40/40/20 split corresponds, in 2016, to the income levels of <=$42k / between $42k and $110k / and >$110k according to us census data."
And I thought I was hanging out with the cool kids?!

I would say the definition above, or perhaps north of $200K/yr is essentially what I have heard as defined as "FatFire". Assuming that for most higher RE spenders that a high % is discretionary, my curiosity was more around after 5 - 10 yrs of "blowing the dough", did your burn rate drop relatively significantly. Like many, I plan on doing the more physical travel/adventurous (more expensive) stuff in the earlier years of RE while my beat up knees can hike up a hill. I would think a combination of these types of activities along with probably some ER "honeymoon" spending will run for 5 - 10 yrs and then perhaps one might fall into a "been there/done that" mood which might reduce their spending a good bit. Barring the unknown future costs of medical issues, help for kids, etc, I was really interested to hear who is sustaining a high spend rate after say 5 - 10 yrs?

For those who are fat in FIRE, eat less and join a gym!

And yes, GO DAWGS!!
DawgMan is offline   Reply With Quote
Old 08-01-2018, 05:06 AM   #16
Full time employment: Posting here.
 
Join Date: Oct 2014
Posts: 521
Quote:
Originally Posted by DawgMan View Post
And I thought I was hanging out with the cool kids?!

I would say the definition above, or perhaps north of $200K/yr is essentially what I have heard as defined as "FatFire". Assuming that for most higher RE spenders that a high % is discretionary, my curiosity was more around after 5 - 10 yrs of "blowing the dough", did your burn rate drop relatively significantly. Like many, I plan on doing the more physical travel/adventurous (more expensive) stuff in the earlier years of RE while my beat up knees can hike up a hill. I would think a combination of these types of activities along with probably some ER "honeymoon" spending will run for 5 - 10 yrs and then perhaps one might fall into a "been there/done that" mood which might reduce their spending a good bit. Barring the unknown future costs of medical issues, help for kids, etc, I was really interested to hear who is sustaining a high spend rate after say 5 - 10 yrs?

For those who are fat in FIRE, eat less and join a gym!

And yes, GO DAWGS!!
Interesting thread Dawgman. Interestingly enough DW and I were talking about this on the way home from dinner last night. She is not oblivious to our finances but I run the fine details. I reiterated to her that we are fine now though we would have to watch things closely. Neither one of us wants to "watch things closely" so we will continue to pad for awhile. She says she wants to work until at least 55 (46 now). I told her she could finish up at 50 and we would be comfortable enough no not have to "watch closely".

Planning on fat fire of $125K/yr. COLA pensions cover $105 so only need nut to cover 20K/yr. Basically there now even without SS reinforce at 62, FRA or 70. My thought on a future FAT FIRE is the ability to not have to watch every dime and basically do what we want, when we want.
__________________
-Big Dawg-FI since 9/2010. ER in 2015(failed-mentally not $$). Now back for TMY's.

" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
Bigdawg is offline   Reply With Quote
Old 08-01-2018, 05:07 AM   #17
Full time employment: Posting here.
 
Join Date: Oct 2014
Posts: 521
and BTW I am down 37 pounds since April.
__________________
-Big Dawg-FI since 9/2010. ER in 2015(failed-mentally not $$). Now back for TMY's.

" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
Bigdawg is offline   Reply With Quote
Old 08-01-2018, 05:13 AM   #18
Recycles dryer sheets
 
Join Date: Oct 2015
Posts: 307
Quote:
Originally Posted by Bigdawg View Post
and BTW I am down 37 pounds since April.
Ahh... one of life's biggest paradox... you can be FatFire, yet not fat in Fire!
DawgMan is offline   Reply With Quote
Old 08-01-2018, 05:21 AM   #19
Thinks s/he gets paid by the post
JoeWras's Avatar
 
Join Date: Sep 2012
Posts: 3,239
I don't understand much of this, but I know this:


You need Fat Stacks to Fat Fire.


Another board I frequent (sports related) likes to poke a member who brings up the term "Fat Stacks." Hint: think cash, as in multiple pallet loads of it.
JoeWras is offline   Reply With Quote
Old 08-01-2018, 05:26 AM   #20
Recycles dryer sheets
 
Join Date: Aug 2015
Posts: 130
When I opened the thread, I thought Fat FIRE would mean those that FIREd and had way more than they needed. After reading the thread, maybe it means spending a lot when FIREd. I like the first definition better as you can be Fat FIREd and only spend $40k / year. You could also be skinny FIREd and spending $200k / yr. Makes it more broadly relevant and discussion worthy.
__________________

corn18 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
There are still some good managers out there! Lisa99 FIRE and Money 22 12-17-2015 07:42 PM
Check out This Fat Cat MasterBlaster Other topics 0 04-23-2012 05:54 PM
What is the best FIRE Podcast out there? SpencerM FIRE and Money 23 10-19-2011 02:51 PM
FIRE-ees: any regrets? Lusitan Life after FIRE 31 04-13-2007 09:19 PM
"Shout out" to all my fellow players out there laurence Young Dreamers 38 04-06-2006 05:16 AM

 

 
All times are GMT -6. The time now is 04:56 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.