"Early Retirement Extreme" forum

[SoReadyToRetire]

Someone suggested in a reply to one of my threads that I check out the "Early Retirement Extreme" forum.

On there, I found a 32 year old man, married, with 3 very young children, ages 9, 8, and 3, asking if he could retire NOW with $800K and no debt. The consensus was that he's ready now but should consider working "a little longer" to create a pad to cover the increased amount his kids will cost him as they grow up.

YIKES!!! And here I am worrying about whether my DH and I are ready to retire at age 61/57 with about that amount!

Either I'm way off base or he's in for a rough future. I think I'll stick to this forum, where people are either more reasonable or at least more skeptical.

 

[njhowie]

It's all a matter of the lifestyle you intend on living, and if your expenses are "contained".

There are likely folks at 40 doing it with $200k and managing, and others at 60 with $2 million who will have difficulty.

 

[Spock]

While it depends on his standard of living... (ex. a camper with shopping carts for portable storage), I myself could not retire with 800K, 3 kids, and only 32yo.
I'm managing ~2x that amount at roughly the same ages as you are and I am just barely comfortable with it... and thats with a burn rate of only 33K/year.

 

[Mdlerth]

Am I just moderately moderate or extremely non-Extreme?

Anytime an endeavor is driven to the level of "Extreme" it loses me.

What is it about current society that persuades folks that "enough" isn't enough? That everything they undertake needs to be pursued to an extreme level?

From extreme sports to extreme hot wings, even extreme moderation... I think it's all craziness. If nothing else, the concept of "extreme" is in opposition to the concept of "diminishing returns".

I consider retiring in the range of age 60-65 as normal, and 50-60 is early. Earlier than 40 years old would certainly qualify as extremely early. If the 32 year-old guy in the OP is a devotee of "extreme", I suppose he could RE on 800 large. But I can imagine what that would take. Even beyond the lifelong frugality it would require, it sounds like more w*rk than w*rking.

 

[ExFlyBoy5]

I haven't kept up with "Extreme Early Retirement" in a few years, but I think it's worth noting that it's founder, Jacob Fisker *did* go back to w*rk.

Well, I’m about to commit some “light ERE treason” and “retire” from my retirement. In particular, I’m going back to work, in particular employment. I got a job offer I can’t, that is, won’t refuse.

I kinda let the secret out at the Chicago meetup last Sunday and everybody there understood and accepted it gracefully. (At the time I hadn’t gone for the interview yet, so I wouldn’t give away more details than the fact that I was in town for a job interview.)

http://earlyretirementextreme.com/so-long-and-thanks-for-all-the-fish.html

 

[W2R]

I haven't read that forum since Jacob took that high dollar full time job as a quant, in Chicago.

The amazing level of frugality that is reported on that site is unrealistic for the kinds of lifestyles that many of us live. Despite that, I do think that reading there could be valuable for motivational purposes when saving for retirement.

For example, a person might think, "Jacob made a rake rather than buying one. Oh well, I suppose that is insane but I guess I could at least check the Dollar Store or yard sales, to see if I can find a cheaper rake than those at Home Depot."

 

[NW-Bound]

I learned about the above site from this forum. And yes, I remember the rake making episode.

When you have a lot of time on hand, do not have a large lot to do some gardening or room to spread out for a hobby, you look for some diversion activity like making a rake. I did not think he did that to save money as much as to stay busy with something.

It's OK, but I would rather stay busy with something else. But then, we have not shared what we have been putzing on. If we did, other posters might have said "that's crazy".

 

[MRG]

I found that place before this one. Well it's how some folks can "retire". It wasn't my idea of retirement, but you know a person could if need be.

 

[The Cosmic Avenger]

I haven't read that forum since Jacob took that high dollar full time job as a quant, in Chicago.

The amazing level of frugality that is reported on that site is unrealistic for the kinds of lifestyles that many of us live. Despite that, I do think that reading there could be valuable for motivational purposes when saving for retirement.

For example, a person might think, "Jacob made a rake rather than buying one. Oh well, I suppose that is insane but I guess I could at least check the Dollar Store or yard sales, to see if I can find a cheaper rake than those at Home Depot."

That very much sums up my feelings about Mr. Money Moustache -- it's way too extreme for me, and IMO for most people, but there are some great ideas there that might be useful to some lesser extent. And they are great counterexamples to those who feel like they need to keep up with the Joneses, who from what I hear are apparently irresponsibly profligate.

 

[flintnational]

Ethiopian Early Retirement

Based on the success of the Early Retirement Extreme Blog, I have started a forum titled "Ethiopian Early Retirement".

The median family income in Ethiopia is $783 annually. Assuming an extra early retirement and a conservative WR of 3%, a person could retire with a nest egg of $26,100!

I have also answered the long standing question, "Do I have enough to FIRE?". If you have more than $26K, yes you can FIRE!

ETA: I am getting UNICEF ads in the margins of the forum. Serves me right!

 

[Dalmore]

It amazes me what people can live on. I know a guy who has been a pizza delivery driver for 20 years, his wife is a waitress at a Marie Calendars style restaurant. They have one child. They bought a condo in the late 90s. They ski, camp, go to the beach, spend time cleaning up their neighborhood, pretty much do what they want, when they want, all the while living in So Cal. Their fridge is empty compared to mine, but they have never gone without food. I know I could never survive on the small income they have, but they are happy and care free.

 

[Amethyst]

The difference between him and you is that if it turns out "YIKES" for him, in his early 30's, he probably can go back to work. Depending on your skill set and industry, ithat may not be so easy at 61/57.

YIKES!!! And here I am worrying about whether my DH and I are ready to retire at age 61/57 with about that amount!

 

[NW-Bound]

Based on the success of the Early Retirement Extreme Blog, I have started a forum titled "Ethiopian Early Retirement".

The median family income in Ethiopia is $783 annually. Assuming an extra early retirement and a conservative WR of 3%, a person could retire with a nest egg of $26,100!

I have also answered the long standing question, "Do I have enough to FIRE?". If you have more than $26K, yes you can FIRE!

ETA: I am getting UNICEF ads in the margins of the forum. Serves me right!

That's $65/month!

Does the average Ethiopian family have electricity to run a PC to maintain the forum? How much do they pay for Internet access?

 

[flintnational]

That's $65/month!

Does the average Ethiopian family have electricity to run a PC to maintain the forum? How much do they pay for Internet access?

I am running the forum from my air conditioned den in the greater Atlanta burbs. This is an expat FIRE site! You give up your computer and electricity when you move to Ethiopia to FIRE.

 

[NW-Bound]

But, but, but once your followers end up in Ethiopia, they will have no means of reading your forum for updates or sending messages asking for advice.

 

[candrew]

You give up your computer and electricity when you move to Ethiopia to FIRE.

along with access to drinking water......

 

[Elbata]

I really liked Early Retirement Extreme back in the day. Jacob's way of looking at life was a whole lot different than most.

My favorite comment of Jacob's was: Most people wonder how much they need to retire, he wondered how little.

Just like The Bogleheads, ERE can expect to be ripped apart on this forum too. All Jacob ever did was post his thoughts and ideas.

Just like Mr Money Mustache, probably 90% of the comments were negative. All they were both doing is giving a different way of looking at life.

 

[MRG]

Based on the success of the Early Retirement Extreme Blog, I have started a forum titled "Ethiopian Early Retirement".

The median family income in Ethiopia is $783 annually. Assuming an extra early retirement and a conservative WR of 3%, a person could retire with a nest egg of $26,100!

I have also answered the long standing question, "Do I have enough to FIRE?". If you have more than $26K, yes you can FIRE!

ETA: I am getting UNICEF ads in the margins of the forum. Serves me right!

Also answers where the LCOL places are.

 

[flintnational]

But, but, but once your followers end up in Ethiopia, they will have no means of reading your forum for updates or sending messages asking for advice.

There are a few (minor) inconveniences associated with the Ethiopian FIRE plan. I suspect it is similar to firing in the mid-west!

 

[flintnational]

Also answers where the LCOL places are.

We have determined how much and where. If we could just answer the "When to take SS?" question our work here would be done.

 

[flintnational]

along with access to drinking water......

You have to sacrifice if you want to FIRE! LBYM and all that kind of stuff.

ETA: You spendthrift you.

 

[CardsFan]

There are a few (minor) inconveniences associated with the Ethiopian FIRE plan. I suspect it is similar to firing in the mid-west!

WADR, Atlanta "ain't" that far from the midwest.

 

[flintnational]

WADR, Atlanta "ain't" that far from the midwest.

Just trying to see if anyone is paying attention.

 

[CardsFan]

Just trying to see if anyone is paying attention.

Fair enough. I'm known to to poke the dog once in awhile to get a reaction.

 

[daylatedollarshort]

Just like The Bogleheads, ERE can expect to be ripped apart on this forum too. All Jacob ever did was post his thoughts and ideas.

Just like Mr Money Mustache, probably 90% of the comments were negative. All they were both doing is giving a different way of looking at life.

I don't think it was the how little part that got most of the criticism for those two, it was mostly the numbers not adding up, leaving major expenses out of the budget, or making do what I say not I what I do kind of posts, since neither one of them are actually retired.

I'm all on board for the different way of looking at life part.