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Old 12-06-2018, 02:05 PM   #21
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This is almost comical. "At 28 she's doing something she never thought she'd do again: go job hunting" Really now.

"She took the leap to financial independence..." On about $150K? "Now she's living with her parents..."

This article isn't about dashed dreams, this is about utter, sheer stupidity.
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Old 12-06-2018, 02:06 PM   #22
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"She took the leap to financial independence..." On about $150K? "Now she's living with her parents..."
c'mon, don't be so harsh - you know $150K will last 70 years, easy

i'm not very good at math - what's that, $6K a year using the 4% rule?
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Old 12-06-2018, 02:07 PM   #23
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It's not FIRE if you weren't FI. It's just quitting your job and winging it.
#this
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Old 12-06-2018, 02:14 PM   #24
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"....hmmm...this FIRE 'movement' sounds like fun.
I think I'll do that.
I'll start tomorrow and quit my job.
And I'll never have to work again, because I'll be like, FIRE!
Heck, I've got $100K stashed away, which is like...a million dollars!, right?!
And I'll go travelling, like to Paris and spend a month at the Ritz, like where that Princess Di and her dude were at, like before she was killed or something.
And it will be so totally awesome and I can send pictures to my friends on insta and everything!"
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Old 12-06-2018, 02:23 PM   #25
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Quote:
Originally Posted by Aerides View Post
It's not FIRE if you weren't FI. It's just quitting your job and winging it.
#this
New acronym: WIRE (Wing It, Retire Early)

Or

WIRES (Wing It, Retire Early Stupid)
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Old 12-06-2018, 02:27 PM   #26
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I may have done this FIRE thing before it became fashionable:

1. Left home at 17, lived with a friend until I got my draft notice at 19. Did a little "freelance stuff". but hey, that's not real work!

2. Out of Military, no job, lived at home until I left again and moved in with working GF (school teacher). She supported US for 4 years while I went to college. Boy that was a fun time while being FI!

3. Big divorce when I was 49 and lost my VP job in California. Lived with sister for 9 months before finding a job in Texas. Blew threw almost $300k (lawyers, alimony, child support, new girlfriends). I wish I had more $$$ to make FI lst longer.

The only problem with FIRE at an early age is you find out you just need a lot of cash or a working partner willing to support you!
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Old 12-06-2018, 03:03 PM   #27
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The only problem with FIRE at an early age is you find out you just need a lot of cash or a working partner willing to support you!
yep - that's how DW FIRED in 1997
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Old 12-06-2018, 03:09 PM   #28
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I may have done this FIRE thing before it became fashionable:

1. Left home at 17, lived with a friend until I got my draft notice at 19. Did a little "freelance stuff". but hey, that's not real work!

2. Out of Military, no job, lived at home until I jeft again and moved in with working GF (school teacher). She supported US for 4 years while I went to college. Boy that was a fun time while being FI!

3. Big divorce when I was 49 and lost my VP job in California. Lived with sister for 9 months before finding a job in Texas. Blew threw almost $300k (lawyers, alimony, child support, new girlfriends). I wish I had more $$$ to make FI lst longer.
I know, right? At least, nobody added your story in an online article. What is mystifying to me is that her story made a cut for this FI article.
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Old 12-06-2018, 04:50 PM   #29
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It's not FIRE if you weren't FI. It's just quitting your job and winging it.

Aerides nailed it!

Actually, these articles arenít as annoying to me as they seem to be to some people. What is completely ridiculous to me is the ad at the bottom of the page when I looked at the article. The ad said basically...you need $525287 to retire for an income of $67,796! Now there are many, many threads debating SWR but I donít recall anyone ever advocating a 13% SWR!! I didnít follow the links in the ad to see what sort of snake oil they were selling..I just shook my head and thought no way.
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Old 12-06-2018, 04:56 PM   #30
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Actually, these articles arenít as annoying to me as they seem to be to some people. What is completely ridiculous to me is the ad at the bottom of the page when I looked at the article. The ad said basically...you need $525287 to retire for an income of $67,796! Now there are many, many threads debating SWR but I donít recall anyone ever advocating a 13% SWR!! I didnít follow the links in the ad to see what sort of snake oil they were selling..I just shook my head and thought no way.
that's probably before SS
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Old 12-06-2018, 05:05 PM   #31
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I know the first young lady they outlined in the article (Gwen). I think she was simply undercapitalized and didn't have nearly enough to be 100% FI.
First time I've heard anybody talk about percentages of FI. I understand something like "I am at 50% of my goal of reaching 1 million dollars.

So would you say she was 15% FI? 12% FI?
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Old 12-06-2018, 05:13 PM   #32
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First time I've heard anybody talk about percentages of FI. I understand something like "I am at 50% of my goal of reaching 1 million dollars.

So would you say she was 15% FI? 12% FI?
isn't FI binary? you either are or you aren't (like being preggers)
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Old 12-06-2018, 05:26 PM   #33
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Oye. Oye. Oye.

That's a great Plan "B", eh? And I am going to be an ass here..."only affecting myself"? Your parents did their job..your inability to plan accordingly isn't their fault, and I do think it affects them, too.
You're not being an ass at all. In fact, I'll take the next step and be the ass by stating that if this young lady's parents are being adversely affected by their 28 year-old daughter's life choices, that is on them 100%. At this stage in their lives, her mom & dad should be parents in name only and no longer responsible for parenting their adult daughter.
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Old 12-06-2018, 06:10 PM   #34
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These people are doing "coastFIRE" or "BaristaFI" meaning they take some PT job and call it retirement. LOL So sad.
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Old 12-06-2018, 06:46 PM   #35
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The first example seemed like a sabbatical. Not early retirement.
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Old 12-06-2018, 06:55 PM   #36
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First time I've heard anybody talk about percentages of FI. I understand something like "I am at 50% of my goal of reaching 1 million dollars.

So would you say she was 15% FI? 12% FI?
I meant not 100% FI as in she was 1/4 or 1/2 way there, and planning on making up the shortage with some form of work, investment property, or other form of generating income/wealth.

I actually don't know her full plan or exactly how well it went. From an objective standpoint, I don't think her or anybody can really enjoy FIRE in the US with a mere $300k unless they're supplementing the income with some form of work. And then that's not early retirement if they're working, right?
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Old 12-06-2018, 07:30 PM   #37
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The first example seemed like a sabbatical. Not early retirement.
Yep, or just got tired of working, much like her freelancing, it wasn't her thing.
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Old 12-06-2018, 07:31 PM   #38
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First time I've heard anybody talk about percentages of FI. I understand something like "I am at 50% of my goal of reaching 1 million dollars.

So would you say she was 15% FI? 12% FI?
I'd say it's binary, you either are or aren't.
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Old 12-06-2018, 08:52 PM   #39
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You're not being an ass at all. In fact, I'll take the next step and be the ass by stating that if this young lady's parents are being adversely affected by their 28 year-old daughter's life choices, that is on them 100%. At this stage in their lives, her mom & dad should be parents in name only and no longer responsible for parenting their adult daughter.
Well, if her parents are like me who has 4 empty bedrooms upstairs, if one of my two kids runs into hardship even due to his/her own stupidity, I am not going to turn them away and not give them shelter.

I don't think I would increase my WR to give them allowances though , but it was not said that this young woman's parents were doing that.
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Old 12-06-2018, 10:33 PM   #40
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We have told our kids they are always welcome to move back. I know one turned down a job transfer as his fall back is moving back home and looking for another job. He said once a lot of his friends don't have that option of moving back home for one reason or another, and he knew he was fortunate - he could take more career risks without any worries.

Maybe the 28 year old in the article isn't so stupid. She gave barista type retirement a try and her worst case is moving back home and then getting another tech job, which in our area still seems to be a pretty high demand field.
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