I've been lurking for awhile and finally decided to introduce myself and start participating in the discussions. Here's my story as it relates to FIRE:
Growing up, I always had the idea that I would become a rich and successful corporate type. I spent a few years after high school playing Jr A hockey in the midwest with hopes of getting a scholarship. I met my wife and we married at 21. I didn't get the scholarship so I decided to get a real job and joined a technology company. After 4 years of tasting political BS, I started questioning my definition of "rich and successful" and whether I really wanted to be a "corporate type".
These questions led me to a few life-changing books: The Power of Purpose, Your Money or Your Life, and Cashing in on the American Dream. It was at 25 that I decided FI at 35 would be my new goal and definition of success. My wife supported this as she grew up in a small midwest town and had always wanted a simple, happy, unmaterialistic life. She could never understand the workaholic part of me that I inherited from my parents.
The first step was getting rid of $10K of debt. We decided to turn in the SUV at the end of its lease and buy a used car with the cash we had been saving for a down payment to buy the SUV. We then applied the $600/month (previous SUV and insurance payment) and my wife's entire paycheck to the debt. It was gone in less than a year.
The next milestone was my wife retiring at 27 (no kids). By moving from the midwest to a big city, I was able to get a 50% raise so my new salary was the same as what we both made in the midwest. By taking on a 4 hour/day commute, we kept our cost of living the same.
During the next 7 years, we kept our expenses (excluding house payment) flat while I continued to grow my salary. We grew our net worth by investing the leftover money from my paycheck, buying low/selling high two houses, and picking the right company to work at for 7 years (stock options).
Last year I got fed up with the political BS and a bad boss and decided to walk. Spent the last year working as an information technology project management contractor. Also sold the house and downsized into an apartment 4 miles from my new clients. The crazy thing is, I now have less work, no commute, no stress/politics, and make more money. I keep wondering why I didn't jump to contracting earlier.
I just turned 35 a few months ago and have achieved my goal FI at 35. I plan to retire at the end of this calendar year. I could do it now but my wife is having jaw surgery in a few months and as usual the insurance company doesn't cover it. We also plan to move somewhere less expensive early next year. Can't wait to get away from the traffic as well (it's now bad all day long and grid-lock during rush hour).
So that's my FIRE background. I've enjoyed hearing your stories and hope my story inspires any 20-somethings out there who doubt whether FIRE is possible in your 30's.
Growing up, I always had the idea that I would become a rich and successful corporate type. I spent a few years after high school playing Jr A hockey in the midwest with hopes of getting a scholarship. I met my wife and we married at 21. I didn't get the scholarship so I decided to get a real job and joined a technology company. After 4 years of tasting political BS, I started questioning my definition of "rich and successful" and whether I really wanted to be a "corporate type".
These questions led me to a few life-changing books: The Power of Purpose, Your Money or Your Life, and Cashing in on the American Dream. It was at 25 that I decided FI at 35 would be my new goal and definition of success. My wife supported this as she grew up in a small midwest town and had always wanted a simple, happy, unmaterialistic life. She could never understand the workaholic part of me that I inherited from my parents.
The first step was getting rid of $10K of debt. We decided to turn in the SUV at the end of its lease and buy a used car with the cash we had been saving for a down payment to buy the SUV. We then applied the $600/month (previous SUV and insurance payment) and my wife's entire paycheck to the debt. It was gone in less than a year.
The next milestone was my wife retiring at 27 (no kids). By moving from the midwest to a big city, I was able to get a 50% raise so my new salary was the same as what we both made in the midwest. By taking on a 4 hour/day commute, we kept our cost of living the same.
During the next 7 years, we kept our expenses (excluding house payment) flat while I continued to grow my salary. We grew our net worth by investing the leftover money from my paycheck, buying low/selling high two houses, and picking the right company to work at for 7 years (stock options).
Last year I got fed up with the political BS and a bad boss and decided to walk. Spent the last year working as an information technology project management contractor. Also sold the house and downsized into an apartment 4 miles from my new clients. The crazy thing is, I now have less work, no commute, no stress/politics, and make more money. I keep wondering why I didn't jump to contracting earlier.
I just turned 35 a few months ago and have achieved my goal FI at 35. I plan to retire at the end of this calendar year. I could do it now but my wife is having jaw surgery in a few months and as usual the insurance company doesn't cover it. We also plan to move somewhere less expensive early next year. Can't wait to get away from the traffic as well (it's now bad all day long and grid-lock during rush hour).
So that's my FIRE background. I've enjoyed hearing your stories and hope my story inspires any 20-somethings out there who doubt whether FIRE is possible in your 30's.
). Hmm, throw in a couple of leprichauns, a talking cat and we'll have a Hollywood script, casting Danny De Vito and Bill Murray. 
