Changes in FIRE

[ferco]

I'm interesting in knowing how FIRE has changed over the past decade or two. I realize it may not have been called FIRE but the concept I'm sure has been around for awhile. Particularly:
1) have ages gotten younger for initiating FIRE
2) has the amount of money one has at the time of FIRE changed
3) has the internet(more info, faster) made a difference
4) have stress levels in this country contributed
5) have perpsectives on the future played a role as well as increasing life expectancy.
6) more dissatisfaction with jobs, occupation and seeing a way out.
7) less tolerance for putting up with BS

How do you see FIRE changing over the next decade?

 

[Sandy]

ferco, I can't possibly answer all of your questions, which are good. I only have a story for an example.

In the late 70's my uncle sold a business and did quite well. After that, he was always "looking" for work, but could afford to take his time. He took 2 or 3 positions over the next 20 years but the stints were short lived (less than 1 year each). So, you could say he FIREd. But, NO ONE ever said he "retired". The reluctance to say he was retired was so strong that I never framed his situtation that way until I came to this board in 2006 and had one of those "ah ha" moments.

Maybe next time I see him I will ask him if thought he was RE.

 

[dex]

What interests you about how/if it changed?

 

[OAG]

Since I "retired" 28 years ago from the military when I was 38 years old I do not think it has gotten much lower in age.

When I "retired" the money was very much less than it is now. My "retired pay", which was the backbone of the ability to "retired" has just about tripled at this point. Sometimes I think that, if I knew what I do now then, maybe I would not have done it -- but no regrets and "you cannot go back".

When I "retired" I too never considered myself retired. I did do other things but because I felt they were voluntary on my part there was VERY little stress. If I did not like the things I was doing I could, and did, just quit doing them and look for something else.

Additionally, although I "retired early" I did not consider my self FI yet. In fact after 28 years I am just starting to getting used to the idea of FI.

I did really retire in 1988, or so, (totally stopped doing anything for money, and am not looking for anything to do for money now).

The internet did not play much of a role but, as time goes on, it has made things much more convenient. In 79 there was no public internet and the BBS (Bulletin Board Services) via a 28 kbs modem did not even start until about 82 or so.

Stress did play an important role back in 79 and the BS factor was pretty heavy at the time - the fact that I did have the earned retirement looking me in the face after 21 years made it much easier to just "get out".

There were many financial hurdles after 79 that had to be negotiated (4 kids to get through college, 4 marriages, a home for a parent, relocation(s), etc., etc.,). But in hindsight they all were negotiated and today we (my wife, myself and our family) are just fine.

Hope this will give you some insight into an almost 3 decade adventure.

 

[ferco]

Just looking at the trending view of FIRE...Life and things in general tend to run in cycles; in addition, understanding human psychosocial phenomena, over time is interesting.

 

[kaudrey]

I can also just provide an example from personal experience.

My parents FIRE'd in 1994 at the age of 57. They had pretty much planned it for as long as I can remember (they bought the land they now live on in the early 80s, I think).

My father's sister, thanks in part to a good divorce settlement but also thanks to living WAY below her means, retired at 55, and worked part time in the few years before that.

I plan to retire at 52 (I'm 38 now). Not sure if I'll have more money than they do on an inflation-adjusted basis, although I probably will.

Guess it's in my blood...