Bloggers that cater to higher income folks

[cathy63]

I just added earlyretirementnow to my Feedly list and it gave me a list of similar blogs.

I didn't look at them all, but in case anyone wants to check them out, these seem like they might touch on Fat FIRE:
- "The Wealthy Accountant" wealthyaccountant.com
- "The Millionaire Educator" millionaireeducator.com
- "Chris Reining" chrisreining.com
- "Actuary On FIRE" actuaryonfire.com

 

[Lewis Clark]

I just added earlyretirementnow to my Feedly list and it gave me a list of similar blogs.

I didn't look at them all, but in case anyone wants to check them out, these seem like they might touch on Fat FIRE:
- "The Wealthy Accountant" wealthyaccountant.com
- "The Millionaire Educator" millionaireeducator.com
- "Chris Reining" chrisreining.com
- "Actuary On FIRE" actuaryonfire.com

Actuary on Fire has good content, but unfortunately has not posted much new content in the past 8 - 10 months.

 

[MrEd]

$5mm

The problem I have with the FatFIRE chart is that even with $5MM and a $200K WDR you could be underwater.

At a 4% interest rate on, for example, $5mm you would be earning $200,000 in interest w/o ever touching the principle.

MrEd

 

[Scuba]

Our loss.



I enjoyed his posts. In my opinion, he was a gracious and informative poster.

I agree, I miss his posts.

 

[marko]

Funny, when I first found this forum 15 years ago I zero'd in on the "Financially Independent" side and expected to find a bunch of multi-multi-millionaires, trust funders and perhaps an internet billionaire or two sharing stories about private jets and winters in the Aspen.

What a let-down!!
(just kidding...I absolutely love this forum and all its members!)

 

[RunningBum]

The problem I have with the FatFIRE chart is that even with $5MM and a $200K WDR you could be underwater.

At a 4% interest rate on, for example, $5mm you would be earning $200,000 in interest w/o ever touching the principle.

MrEd

Where can you get a 4% interest rate now? And when rates do get that high, inflation will be going up, so while your statement is true, $200K isn't going to have the same buying power in the future.

 

[audreyh1]

I would also argue from personal experience that those in the fat category realize more social pressure to keep spending at a high level.

Perhaps if they are conspicuous about it among friends. But it is easy to spend >100K annually and not be conspicuous about it, especially if a lot of the discretionary spending is on travel that you do alone.

I don’t think that social pressure is necessarily a major factor, especially not if you aren’t very social like the INTF/P type persons who frequent this forum. Or you socialize with less wealthy folks.

 

[Dtail]

Perhaps if they are conspicuous about it among friends. But it is easy to spend >100K annually and not be conspicuous about it, especially if a lot of the discretionary spending is on travel that you do alone.

I don’t that social pressure is necessarily a major factor, especially not if you aren’t very social like the INTF/P type persons who frequent thus forum. Or you socialize with less wealthy folks.

Yeah on a related note coz of this forum, when I see a guy who is rather shabbily dressed, I think he could be millionaire plus person who is on this site.

 

[marko]

But it is easy to spend >100K annually and not be conspicuous about it, especially if a lot of the discretionary spending is on travel that you do alone.

Agreed.

DW and I are well above the $100K spend rate (almost double that). Of course we're in two HCOL areas and tend to have a high discretionary spend but while we live well, we are far from conspicuous.

 

[dunkelblau]

The problem I have with the FatFIRE chart is that even with $5MM and a $200K WDR you could be underwater.

Just like in the working world, there are those with $200K incomes but they're spending $300K. The chart makes no consideration for that. Then the question becomes how long will you stay 'fat' before you drift into lean?

I would also argue from personal experience that those in the fat category realize more social pressure to keep spending at a high level.

I think the table assumes a SWR of 4% so by definition the 200K WR inflation-adjusted is sustainable for expected lifespan (although debatable for someone less than 50 YO). Unless SWR% actually drops for larger dollars?

Also the WR represents total spending including taxes, and not income, right? So a 300K spend would be a 6% WR which may not last long.

I would argue that those who feel the most heat from social pressure to spend at a high level are less likely to reach their FatFIRE threshold. Instead I would imagine FatFIREs include a disproportionately high rate of chronic underspenders.

Funny, when I first found this forum 15 years ago I zero'd in on the "Financially Independent" side and expected to find a bunch of multi-multi-millionaires, trust funders and perhaps an internet billionaire or two sharing stories about private jets and winters in the Aspen.

What a let-down!!
(just kidding...I absolutely love this forum and all its members!)

FWIW if you're 'suggestible' I think you dodged a bullet by landing here

 

[MrEd]

Where can you get a 4% interest rate now? And when rates do get that high, inflation

royal dutch shell 6% plus

exxon ~5% plus

high yield bonds

You get the idea...you have to take some risk to get a return.

MrEd

 

[daylatedollarshort]

I would also argue from personal experience that those in the fat category realize more social pressure to keep spending at a high level.

I think that is why there are usually a disproportionate amount of INTJ types on these kinds of forums. We aren't going to spend like our neighbors or former co-workers no matter what they say or do. Our young adult kids kind of get the whole LBYMs as a lifestyle choice now that they see us not working and going out all the time, and their friends' parents' still working at jobs they don't like and surprised reactions to us retiring early.



My concession to peer pressure is going out with friends and spending like they do when I don't do the planning and organizing. We spent $150 the other night going out with a group of friends. When it is just the two of us we will do something as much if not more fun and spend around $0 - $40 with some combination of annual passes, seat filler subscriptions or comp tickets.

 

[explanade]

I'd never heard of fat FIRE despite being on ER.org for now over 10 years.

Here's an overview of the "FIRE movement" and this article identifies it as a Millenial thing:

https://www.nytimes.com/2018/09/01/style/fire-financial-independence-retire-early.html

 

[unclemick]

Fat Fire?

1. Hobby Farm. Even a faster way to spend excess than a boat/yacht. The new new seems to be winery/vineyards and of course alpacas as a distant minority.

2. Do like the ? richest lady at my 50th high school reunion - run a foundation and give money away to your ?? favorites.

I'm not Fat but I am dangerous. Got stuck in the mud and provided another story for the neighbor who pulled me out with his tractor. Native prairie strip. Monarch milkweed area. Solar pond aerator. Solar cistern pumps. Mini-windmill.

No hay, soybeans, corn or cattle here. Just CRP and crazy stuff. Plenty of stories for the neighbors.

heh heh heh -

P.S. Thread on blow that dough has idears also. Hint - Jeep made Motor Trend SUV of the year.

 

[2lhasas]

There is a rather active fatFIRE facebook group. The admin is "Physician on Fire" so lots of members are doctors.

 

[explanade]

Would be a shame if a lot of doctors are FIRE-ing in their early 50s or earlier.

They’re in their 30s already when they get out of residency?

 

[Dtail]

Would be a shame if a lot of doctors are FIRE-ing in their early 50s or earlier.

They’re in their 30s already when they get out of residency?

Who are we going to see then for medical issues?