Join Early Retirement Today
Thread Tools Search this Thread Display Modes
What's it take to feel FI
Old 04-29-2007, 06:49 PM   #1
Confused about dryer sheets
Join Date: Apr 2007
Posts: 1
What's it take to feel FI

Hi folks,

Well I've done the math a thousand times if I've done it once.
At age 42, if I do nothing but average 7% rate of return, I'll have over $2M at age 62.
If I can earn 6% per year on that, I can w/d 144K per year for over 30 years without running out of money.
This seems to be the worst case scenario - barring catastrophe of some sort.
I earn a good buck - will continue to save 15-20% of earnings out of habit and because I can never turn away free money in the form of 401K match.

All is good yet I don't feel FI - still stress out over money - how come?
Triumph is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: What's it take to feel FI
Old 04-29-2007, 07:52 PM   #2
Recycles dryer sheets
Join Date: Dec 2006
Posts: 234
Re: What's it take to feel FI


Because it is hard to undo a lifetime of habits in a short time frame. Some of us, including myself, are already there, and still worry. The things that made us save in the first place are still there. The what ifs, the desire for security, maybe even the delight in seeing the money pile grow. With no more w*rking, all that reverses. No more outside income. Especially in a bad year, net worth could decline.

As much as I weathered the 2000-2002 period, without selling anything, our net worth still increased. We saved enough to offset the losses. Of course 2003-2007 has been like a rocket, with the capital gains augmenting the savings.

With me, and maybe you, this is like a journey. You do not get there in the first hour, but hopefully over time, you will recognize and delight first in FI and then RE.
firewhen is offline   Reply With Quote
Re: What's it take to feel FI
Old 04-29-2007, 08:17 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
Re: What's it take to feel FI

Originally Posted by Triumph
All is good yet I don't feel FI - still stress out over money - how come?
Because age 62 is 20 years away and you really want to retire sooner.
LOL! is offline   Reply With Quote
Re: What's it take to feel FI
Old 04-29-2007, 09:45 PM   #4
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,814
Re: What's it take to feel FI

Welcome to the board, Triumph.

Originally Posted by Triumph
All is good yet I don't feel FI - still stress out over money - how come?
In our case it was convincing ourselves by worrying constructively. If you've done the math a thousand times on FIRECalc then shft over to or some other difficult, tedious, high-data-entry calculator (my vote would be ESPLanner) and crunch the numbers some more.

Eventually, somewhere between "This is cool!" and "This is way too much detail" you'll feel satisfied that you haven't missed anything.

One day you'll realize that your ER portfolio earned more money that day/week/month than you did. Another time you'll realize that you're tired of putting up with all the crap at work. Yet another time you'll feel that work intrudes on all the neat hobbies you thought about when you read Ernie Zelinski's "How To Retire Happy, Wild, & Free".

Eventually you'll realize that you have enough, and maybe even reach "you can't spend it fast enough." At that point you'll be both FI and able to sleep at night.

Until then... well, if you don't absolutely hate work and if it's not getting in the way of the rest of your life, then you might as well keep on working. In my case work was always interfering with the other things I wanted to do.

But if you're satisfied that you've crunched the numbers correctly, see if you can take a month or two off work to test-drive your ER life. If you don't want to go back, then you've learned to live with both the FI and the RE components of FIRE!

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
How wealthy do you feel? laurence FIRE and Money 125 06-03-2007 02:11 PM
Does anyone feel jealousy from friends/family/others? FatBoy71 FIRE and Money 92 02-25-2007 10:54 AM
Anyone feel better in retirement ? Empty Pockets Health and Early Retirement 29 01-16-2007 07:45 PM
should I feel quilty aimhigh FIRE and Money 31 12-28-2005 08:55 PM
Net Worth $1.6m @ 51 I don't feel rich - explain that! dex FIRE and Money 49 10-27-2005 09:05 AM

» Quick Links

All times are GMT -6. The time now is 10:35 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.