LivePassionately
Dryer sheet aficionado
so I have been on here for a short time and it has helped me realize that I can/will FIRE at 50. There are many on here that seem like they will make it and do very well on their FIRE date without any worries whatsoever and can likely FIRE earlier than their set date (I have been lucky enough to be in that category).
I see several folks that have retired in their early 40's and while I want to work until 50, I feel like in the next 10 years, I had an epiphany that maybe I should live mentally as if I was retired now (i.e. within reason and of course fulfilling the necessary obligations of today). I have always worked and have owned/run a company with a decent amount of employees since I was in my late 20's so its not easy to get out of this work mentality (not that I don't enjoy my work..I do, but I would totally enjoy doing nothing as well).
Anyways, the long-winded question is - Do you wish you had gone from 60 to 0 over 10 years (at least mentally) rather than 60 to 0 in a year .i.e done as much as you can in the 10 or 7 years prior to retirement to build that mindset and to actually vacation and spend a lot more free time enjoying your hobbies. I have a friend who is 59 now and was always well-off but a careful spender and he always tells me he wishes he had spent more money on the things he truly enjoyed rather than being afraid. I know it goes against the FI mantra but if you know you will be fine, is there a reason to not delay gratification and enjoying certain luxuries if you can (ie. I live below my means but well but have not flown first class even though I can ). Again, it has to be balanced and its not all about money either but more of a mindset. I am also thinking doing more self-development (why wait till 50). DW and I just did a staycation where we sent the kids (8 and 10) to DS house and it was as good as any vacation because having your own house to yourself for a few days with no worries is kind of amazing.
This really got me thinking about the topic of this thread and would love to hear your thoughts.
I see several folks that have retired in their early 40's and while I want to work until 50, I feel like in the next 10 years, I had an epiphany that maybe I should live mentally as if I was retired now (i.e. within reason and of course fulfilling the necessary obligations of today). I have always worked and have owned/run a company with a decent amount of employees since I was in my late 20's so its not easy to get out of this work mentality (not that I don't enjoy my work..I do, but I would totally enjoy doing nothing as well).
Anyways, the long-winded question is - Do you wish you had gone from 60 to 0 over 10 years (at least mentally) rather than 60 to 0 in a year .i.e done as much as you can in the 10 or 7 years prior to retirement to build that mindset and to actually vacation and spend a lot more free time enjoying your hobbies. I have a friend who is 59 now and was always well-off but a careful spender and he always tells me he wishes he had spent more money on the things he truly enjoyed rather than being afraid. I know it goes against the FI mantra but if you know you will be fine, is there a reason to not delay gratification and enjoying certain luxuries if you can (ie. I live below my means but well but have not flown first class even though I can ). Again, it has to be balanced and its not all about money either but more of a mindset. I am also thinking doing more self-development (why wait till 50). DW and I just did a staycation where we sent the kids (8 and 10) to DS house and it was as good as any vacation because having your own house to yourself for a few days with no worries is kind of amazing.
This really got me thinking about the topic of this thread and would love to hear your thoughts.
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