What is 6 months worth?

[Cassius King]

To me, time is much more valuable than money. You don't know what the future holds for you and your health.

If we were to ask someone in their 90's what they would pay to have six months of their life back at your age, what would they say?

 

[CaliKid]

As others have said it's so personal: age, current net worth, amount of pay, etc....

I have had been forced to do a similar analysis lately. After making $x/month for the last 6 years a combination of factors (mostly Covid) has me making the same $x but now it's per year. That's not exact but this year I'll make about 10-15% what I made last year. If I was going to keep making $x/month I would keep working as it's a lot of money. If I am only making that same $x but it takes me 6 months or a year then I am not as interested in working much longer. Going to see how the first half of 2021 goes before I make a final decision.

Back to your question, the age is a big factor and I'd push a little longer as this world is crazy and the future is uncertain. A little extra cushion in the bank doesn't hurt!

 

[ugeauxgirl]

I am 48 and started my retirement plan in February right before my whole family got coronavirus and the general chaos of 2020 descended. My successors have had to deal with all sorts of things including 3 hurricanes. I'm glad I exited when I did even though the paycheck would have been larger had I stayed. Life is good and my time was worth more than the extra money. We have plenty.

P.S. Probably factoring into this was my brother's best friend who died last year at 51. Wake up call.

 

[RxMan]

Reading this spurred a thought that I hadn't considered before - but one that's been lurking in the background for sometime. Given my age, I guess I feel like I'm still "in the middle of my career" rather than at the end of it. "End" of career still feels tied to 55+ yrs of age in my mind rather then the point at which one becomes FI. In fact - I don't think I've ever linked retirement with financial independence before learning about FIRE. Retirement has always seemed like a late stage in life rather then a decision. So perhaps that belief is also contributing to this 6-more-months-dilema.

I think part of what FIRE is all about is redefining what retirement means and when it is possible. Having the mindset that you can be at the end of your career earlier than the traditional retirement age is one of the paradigm shifts you’ll face.

 

[second_act_at_42]

Definitely. This should be taught in high school as students are planning career paths.

 

[Markola]

I think part of what FIRE is all about is redefining what retirement means and when it is possible. Having the mindset that you can be at the end of your career earlier than the traditional retirement age is one of the paradigm shifts you’ll face.

+1. At 4 months in, we’ve so far gotten a few blank stares, some congratulations, one “That must be nice”, and a “But you’re just kids!” (We are 54 and 57).