Hi all

[TurboPigeon]

Hello

I’m new here, a colleague of mine referred me to this site.

Always looking for some financial tips, more money is always more better.

I’m not sure I see the appeal in the FIRE mindset, I love my work (been in the industry for a little over a decade), not sure I could handle the free time with retirement, in addition I do like my sports cars and watches and night life and all.

I have a open mind and would love to hear more about all of this, my good trusted friend speaks highly of it.


Thanks!

 

[Gumby]

Welcome aboard. What do you see for yourself in the future? Say 25 years from now. Same job? Same industry? Will it satisfy you then as much as it does today? If you think the answer is yes, and you can't envision any alternative, then no need to even bother with us.

 

[TurboPigeon]

Welcome aboard. What do you see for yourself in the future? Say 25 years from now. Same job? Same industry? Will it satisfy you then as much as it does today? If you think the answer is yes, and you can't envision any alternative, then no need to even bother with us.

Thanks!

25 years.... I don’t think anyone honestly can project that far out, if I could read the future to that extent I’d go into the stock market or Vegas!!

I know right now I love my job, I’m making some moves now where in a year or two I will be able to take a job where I will have little or no tax and should be making around 180k a year, with half the year off on rotation, one thought I had was to suck it up and work full all year, take the 360, do 3 years and have about 1M.

BUT I think that might hurt my passion for my industry, as it stands I enjoy what I do, I fly for a living and on a good deal of my days off I fly my own plane for fun, so that’s the pickle if that makes sense.

 

[stepford]

more money is always more better

That's it in a nutshell right there. Is more money always better, or does time/fun eventually matter more? Lots of us could have added millions to our net worth if we'd kept working till 65, but I think few will tell you they regret the choice not to do so.


But hey, if you truly love work then knock yourself out.

 

[TurboPigeon]

That's it in a nutshell right there. Is more money always better, or does time/fun eventually matter more? Lots of us could have added millions to our net worth if we'd kept working till 65, but I think few will tell you they regret the choice not to do so.


But hey, if you truly love work then knock yourself out.

Fun wise, as long as I can spend a few hundred a weekend out, I eat out most days, restore cars, good watches, I also fly my own plane, stuff like that.

How much and how early is the average person retiring here?

 

[rodi]

Fun wise, as long as I can spend a few hundred a weekend out, I eat out most days, restore cars, good watches, I also fly my own plane, stuff like that.

How much and how early is the average person retiring here?

Welcome to the forum.

This forum breaks into a couple of demographical groups.

SIRE (secure income, retired early). Aka the folks with great pensions.

Frugal FIRE - Saved a lot while being frugal... If you spend less, you need less to sustain retirement.

Fat Fire... Those that have lots of money so being frugal is not part of the plan because there is no need.

Those are generalizations and most of us are a combo of these....

As far as how early and how much that varies also. For me, it was age 52 and enough that I only have to withdraw 3-3.5% if my investments each year. My case is not Fat fire, But I enjoy my life now more than when I was working.

 

[stepford]

how early is the average person retiring here?

A few years old, but here is a survey of the ages folks around here retired at. Somewhere in ones 50s is typical.


Edit: searching around some more here's a more recent poll with similar results.

 

[TurboPigeon]

Welcome to the forum.

This forum breaks into a couple of demographical groups.

SIRE (secure income, retired early). Aka the folks with great pensions.

Frugal FIRE - Saved a lot while being frugal... If you spend less, you need less to sustain retirement.

Fat Fire... Those that have lots of money so being frugal is not part of the plan because there is no need.

Those are generalizations and most of us are a combo of these....

As far as how early and how much that varies also. For me, it was age 52 and enough that I only have to withdraw 3-3.5% if my investments each year. My case is not Fat fire, But I enjoy my life now more than when I was working.

Ahh, ok that makes sense. Thanks!!

 

[sengsational]

What's your day-job? Flying what? My buddy flew cargo, bailed with his 401k money bought a 15 bbl brewing system. He complained at no end about the rigors of his job. Loves flying, just the BS bucket got too full.

 

[MrsHaloFIRE]

Welcome! Im prob closest to your age. I don't know who what or where I want to be at age 65. But i want to have plenty if time and money to find out

 

[walkinwood]

FI is the important part of FIRE. FI gives you the financial freedom to do whatever you wish to do with your life.

 

[friar1610]

FI is the important part of FIRE. FI gives you the financial freedom to do whatever you wish to do with your life.

To take that a step further, if you achieve FI there's no law that says you have to RE. But if you're not FI it's virtually impossible to RE, no matter how much you may want to. Even if you want to work until you drop, being FI lets you get out of a job that's become intolerable much more easily.

 

[HI Bill]

Welcome! Sounds like you're young, like your job, like to earn and spend $. That's great! Many (most?) of us here do/did not love our job, and wanted to get out ASAP. There are many truisms restated on this site. Here are a few for thought:

• You know you’re ready to retire when you have enough and have had enough.
• Some things need doing better than you have ever done them before. Some things need doing to get by. Some are not necessary; they don't need doing." Ernie Zelinkski
• If you're FI, and on the fence with a job you really don't like, think about the things you want to do.
• You can always spend less money, but you can't make more time.
• I'd rather be 80 and broke thinking I should have worked longer, than 60, with a boat load of money, dying, thinking why didn't I just enjoy the moment.
• It's better to die with money than live without it.
• Never let yesterday use up too much of today - Will Rogers
• Every year I work now is a year less of diving! - Me
• Life is short. Dead is forever. Your expiration date does not change.
• You'll never be younger than you are today...and possibly not as healthy, either.
• Time > money
• If quality is more important than quantity, is working longer for a richer life more important than retiring earlier, or is retiring earlier with more health more important?
• Happiness not enjoyed today can't be saved for the future. It is lost forever.
• Consider each day you haven't laughed, loved, played, and celebrated your life a wasted day.
• Leaving money on the table is the cost of freedom

 

[MRG]

I loved what I did for about 20 years and stuff changed. Mainly the inevitable being acquired and rearranged like little interchangeable Legos. I'm very fortunate we were saving and did well. I planned on 57, pulling the cord forever at 56.

Crap changes and its good to have options to bail "early". I watched too many of my former peers looking lost when they realized what was going on and they were still trying to work in their 60s or longer.

 

[Dtail]

Retired at 57 and have never looked back. Biggest challenge tomorrow is training newbies in Pickleball.....

 

[Koolau]

Hello

I’m new here, a colleague of mine referred me to this site.

Always looking for some financial tips, more money is always more better.

I’m not sure I see the appeal in the FIRE mindset, I love my work (been in the industry for a little over a decade), not sure I could handle the free time with retirement, in addition I do like my sports cars and watches and night life and all.

I have a open mind and would love to hear more about all of this, my good trusted friend speaks highly of it.


Thanks!

Just so you know, we don't proselytize for early retirement. We bring together folks who find early retirement to be something worthwhile to THEM. We try to help them find ways to make it happen IF it's what they want.

If you have found fulfillment in your chosen c*reer and your BS bucket still isn't full, you should thank God, and enjoy! It sounds like you do.

Honestly, I put off early retirement for several years after I COULD have retired. I had more or less "created" my own position within my Megacorp. It was quite fulfilling, it was fun, it gave me enough money to live a bit larger when I finally retired. Suddenly, Megacorp must have figured out I liked what I was doing and said "We can't have that! After all, we're paying you!" Seriously, Megacorp said "You can no longer do what you are doing now. We have something else you have to do." I said "No, I don't. I'm outta here on Friday." Full disclosure: I gave about 3 weeks+ notice and took the remainder of my vacation after that Friday - I was available by phone for questions, etc.

So, maybe you would find it useful to get ready for early retirement JUST IN CASE. That's sorta what I did but YMMV.