Family of 5 in Houston, Near FI Getting Gitters

[Mina]

Hi Everyone!

We are a family of 5. I am almost 36, hubby just turned 45, and our kids are 12, 6, and 2. I quit a very stressful business 8 years ago to become a stay at home parent. Now have a home business that I love and enjoy and would probably never stop doing.

Hubby is an Engineer and does not enjoy his work at all. We were looking to retire in August of 2020 but recently have reworked the numbers and feel we can make it by December of 2018. Mainly because hubby had inflated the original numbers for a lot of "what ifs" associated with future costs for our 3 kids. Since we are raising our kids to be very financially responsible and consider ourselves Minimalists, I think its better to work with more realistic numbers and quit sooner.

Looking forward to getting to know you guys.

 

[exnavynuke]

Welcome, be sure to check out the FAQ, especially threads such as http://www.early-retirement.org/for...-answer-before-asking-can-i-retire-69999.html

 

[rodi]

Welcome Mina. I retired with kids at home... It provides some challenges, but can be done. Like your husband, I was an engineer and had stopped enjoying work.

You mention being a minimalist. I don't consider myself a minimalist - but I do try to avoid consumerism... What is your definition of minimalist.

 

[Mina]

Welcome Mina. I retired with kids at home... It provides some challenges, but can be done. Like your husband, I was an engineer and had stopped enjoying work.

You mention being a minimalist. I don't consider myself a minimalist - but I do try to avoid consumerism... What is your definition of minimalist.

Hi Rodi, thanks for the warm welcome. I see minimalism as a tool that can be customized to one's own personal needs. To me minimalism is only buying and surrounding myself with things that bring me lasting value and joy. I despise clutter - so the things I keep around, have been carefully selected. The things I do own, I cherish and take care of.

Minimalism also means valuing more than one currency in life. I value my time and energy in addition to valuing my money. I have met many people who appear to be minimalists (to me) but are afraid of the label of being called a minimalist. Perhaps from being judged or stereotyped?

 

[Mdlerth]

...hubby had inflated the original numbers for a lot of "what ifs" associated with future costs...

Welcome to the forum, Mina! It's a wonderful place. You will get a lot of reasoned, logical counsel here from a large number of seasoned posters.

From me, you'll more likely get empathy and a bunch of questions, because I share your jitters. And mostly for the reason you mentioned: what will future costs be?

I have run bookoos of calculations (including this forum's FIREcalc) to map out probable income expectations. When our blessed FIRE day arrives, I will be statistically confident of how much $$ will be available.

But I have less confidence about future expenses. Despite having tracked our spending for three years (baseline is consistent each month year-to-year), I remain squirmy, and here's why: I do not know whether our behavior will change once time no longer restricts it.

For example, DW and I talk about spending a month in Italy; never possible while still w*rking and with our five kinder in various gartens. One such trek I can anticipate, but will that one satisfy DW or will it beget urges for New Zealand, Turkey and Kenya? No way to know in advance, but it makes a huge difference to the plan.

I hope you figure it out soon and FIRE when ready. May your aim be true.

 

[Mina]

Welcome to the forum, Mina! It's a wonderful place. You will get a lot of reasoned, logical counsel here from a large number of seasoned posters.

From me, you'll more likely get empathy and a bunch of questions, because I share your jitters. And mostly for the reason you mentioned: what will future costs be?

I have run bookoos of calculations (including this forum's FIREcalc) to map out probable income expectations. When our blessed FIRE day arrives, I will be statistically confident of how much $$ will be available.

But I have less confidence about future expenses. Despite having tracked our spending for three years (baseline is consistent each month year-to-year), I remain squirmy, and here's why: I do not know whether our behavior will change once time no longer restricts it.

For example, DW and I talk about spending a month in Italy; never possible while still w*rking and with our five kinder in various gartens. One such trek I can anticipate, but will that one satisfy DW or will it beget urges for New Zealand, Turkey and Kenya? No way to know in advance, but it makes a huge difference to the plan.

I hope you figure it out soon and FIRE when ready. May your aim be true.

Wow, seems like you captured the entire essense of our jitters in your well written and thought out post. I can see you have given this a lot of thought. Hubby and I can definitely relate to your passion for those numbers. Seems like we are looking for a numbers answer for an emotional problem. Does that make sense?

I can relate to what you said about being able to travel and not worries about the finances. Traveling is something we are passionate about as well, and that does factor into our planning as well.

I wonder sometimes that even if we reached that over inflated net worth, would the jitters go away? Maybe everyone feels this way at some point in their journey?

Thank you so much for your thoughts, love, and well wishes.