I just heard today that a guy I've known for more than 30 years is completely broke. He's 64 and made really good money for many years. Unfortunately, he spent it all. He was in the financial business and has been unemployed for several years and apparently has gone through his retirement accounts. He's losing his house and hoping his daughter and son in law will help him out.
The people in the FIRE community are the complete opposite. For years, a casual observer would have presumed this guy was better off than me. He spent more money on strong drink and women, drove nice cars, wore expensive clothes and liked to go out a lot. He went through 3 divorces and still the women loved him.
He's a few years older than me and it's sad. While our lives weren't nearly as exciting, we have enough socked away to have a 6 figure income forever, unless the bond market and some other stuff go completely to hell. I'm thankful we lived below our means. While we're trying to figure out how to split time between our vacation home and our main home, he's losing his little condo to foreclosure. The FIRE community way is sure better than what he did!
The people in the FIRE community are the complete opposite. For years, a casual observer would have presumed this guy was better off than me. He spent more money on strong drink and women, drove nice cars, wore expensive clothes and liked to go out a lot. He went through 3 divorces and still the women loved him.
He's a few years older than me and it's sad. While our lives weren't nearly as exciting, we have enough socked away to have a 6 figure income forever, unless the bond market and some other stuff go completely to hell. I'm thankful we lived below our means. While we're trying to figure out how to split time between our vacation home and our main home, he's losing his little condo to foreclosure. The FIRE community way is sure better than what he did!