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Early Retirement Is Overrated: Here’s What We Plan to Do Instead
Old 10-31-2018, 03:51 AM   #1
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Early Retirement Is Overrated: Here’s What We Plan to Do Instead

https://www.gobankingrates.com/retir...verrated-plan/

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That’s why my husband and I only focus on the financial independence side of the equation. While we might have enough saved in our late 30s to retire right now, I am not leaving my life to chance. My kids are only 7 and 9 years old, and we have our entire lives ahead of us. To me, it would feel selfish and reckless to stop pursuing income and start living off what we’ve saved. What if my husband or I were to get sick? What if one of our kids were to fall ill? What about paying for college? Weddings? Vacations? Expenses we couldn’t possibly plan for it we tried?
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Old 10-31-2018, 04:44 AM   #2
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Well, I'm so happy for her. I'm glad see she has it all figured out.

There sees to be a lot of " lumping together" on all sides of the subject.

I personally don't know any 30 something's that are militant FIRE' ers.

I was RE by no choice of my own and decided to try FIRE.

Bloggers are a funny lot. Half of them claim to be working & half claim to be FIRED.

I'm soo confused!
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Old 10-31-2018, 06:58 AM   #3
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Uh-oh, I didn’t realize we couldn’t plan for paying for college, weddings, etc... I guess I should take those expenses out of my budget/spreadsheet

I get her point but I guess I give people who have saved enough to fire in their 30s enough credit to have thought things through.
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Old 10-31-2018, 07:02 AM   #4
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They are in their 30's with two very young children. They don't mention their savings or expenses, so we have zero to go on.

To RE, for all we know, firecalc might not give them even 90% at their ages. If they wait a decade, their kids would be grown, and they'd still have plenty of time to RE.

Is anyone else but me getting tired of these silly opinion puff pieces about fire with no meat to them?
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Old 10-31-2018, 07:09 AM   #5
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Even though this site is called ER.org I personally think the FI part is the most important. You can be FI w/out being ER. Technically you can't be ER w/out being FI. I have been FI since 2010 but am still not ER. For me and DW it is the "what are we retiring too?" Once we figure that out we will ER. Most likely me in 2020(54) and DW in 2026(54). DW and I both understand that from a FI stand point we can ER at anytime. That knowledge makes our fun jobs even more enjoyable.
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Old 10-31-2018, 07:12 AM   #6
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Originally Posted by Aerides View Post

Is anyone else but me getting tired of these silly opinion puff pieces about fire with no meat to them?
It's not just you. They don't need to be reposted here. I'll do with this thread what I do with most of them--put the thread on ignore.
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Old 11-01-2018, 07:36 AM   #7
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It seems to me the OP has lost focus and has decided not to pursue retiring.

That is her choice.

Does not mean the rest of us should follow her example.

It takes hard work. Even though I followed a military career, I constantly had to work to stay focused on getting that pension.
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Old 11-01-2018, 10:46 AM   #8
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A couple of things. First, that website is terrible....I couldn't read it because of the 27 ads, side banners and inbedded videos.

Second, I have almost 4 years of early retirement under my belt and its been absolutely fantastic. At this stage, w*rk (or as the kids are calling it, "side hustle") is a no go for me.
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Old 11-01-2018, 11:16 AM   #9
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A couple of things. First, that website is terrible....I couldn't read it because of the 27 ads, side banners and inbedded videos.
I count four ( 3 plus one video).

Capture.JPG
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Old 11-01-2018, 02:15 PM   #10
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Originally Posted by Aerides View Post
Is anyone else but me getting tired of these silly opinion puff pieces about fire with no meat to them?

I try to be open and see what kind of ideas and opinions are out there to selectively incorporate into my own plan (other than the really far out ones) but this piece falls under the "it depends on personal risk tolerance, goals, and lifestyle choices" category.
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Old 11-01-2018, 02:17 PM   #11
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I don't have any bar graphs, or pie charts to support my own personal opinion, but I will say that IMHO retiring poor is overrated.
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Old 11-01-2018, 04:17 PM   #12
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Originally Posted by Bigdawg View Post
Even though this site is called ER.org I personally think the FI part is the most important. You can be FI w/out being ER. Technically you can't be ER w/out being FI. I have been FI since 2010 but am still not ER. For me and DW it is the "what are we retiring too?" Once we figure that out we will ER. Most likely me in 2020(54) and DW in 2026(54). DW and I both understand that from a FI stand point we can ER at anytime. That knowledge makes our fun jobs even more enjoyable.
The FI part has been my goal since I first started reading the Motley Fool board back in the 90s. I've passed my minimalist COL calculation, so I'm FI, being unemployed for 11 months last year was not a big deal, my net worth was increasing while I wasn't being paid to work. That was a huge emotional burden lifted from the experience. I'm working again and having fun with the job, and while I constantly do my "how much do I need" calculations in my head, it's all about how much of an above and beyond my minimum needs lifestyle it will give me when I finally do RE. Definitely nice not having to feel beholden to a paycheck.
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Old 11-02-2018, 08:41 AM   #13
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Originally Posted by YVRRocketSurgery View Post
I try to be open and see what kind of ideas and opinions are out there to selectively incorporate into my own plan (other than the really far out ones) ...
Which is why I posted it. I was directing it to those that HAVE NOT been around so long they have no more to learn from this forum... those that may want to consider moving on.
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Old 11-02-2018, 03:13 PM   #14
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Really planning for ER takes into account cuts to Social Security, inflation, weddings, college, disability, etc. If they are choosing to work because they like their jobs that is being FI. If they are choosing to work because they are worried about running out of money or paying for a wedding, then they are neither retired nor FI.
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Old 11-02-2018, 04:27 PM   #15
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Technically you can't be ER w/out being FI.
Sure you can, it's called being homeless! Oh, wait, they're actually FI, just with a lower standard of living!
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Old 11-02-2018, 05:41 PM   #16
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Quote:
Originally Posted by Bigdawg
Technically you can't be ER w/out being FI.


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Originally Posted by HNL Bill View Post
Sure you can, it's called being homeless! Oh, wait, they're actually FI, just with a lower standard of living!
in my case the government , told me to stop working NOW in January 2017

and gave me a disability pension ( not an old age pension )

leaving me with the challenge of not running out of money in my lifetime .

luckily ( or unluckily ) my recreational activities have been severely restricted

and get to budget for a life-style i gave little experience with .

but it could be worse , my sense of adventure is still intact , now all i need is my permit to have some wheels


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Old 11-03-2018, 12:02 AM   #17
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Holly's a FinCon friend. She's a rockstar travel blogger and one of the Internet's biggest freelance writers. (BankRate paid her well for that article.)
She's helped many more freelancers boost their careers, and she has no reason to stop what she's doing.

As she said, "While my husband and I love being self-employed and working from home, we’re not going to jump on the early retirement bandwagon just yet" and "This couple is focusing more on the FI and less on the RE."

I think FIRE was a great idea in the 1990s, but 20 years later we're ready to drop the RE and just talk about FI. People can add their own acronyms without feeling the scrutiny of the Internet Retirement Police.
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Old 11-03-2018, 04:25 AM   #18
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Originally Posted by Aerides View Post
Is anyone else but me getting tired of these silly opinion puff pieces about fire with no meat to them?
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Originally Posted by daylatedollarshort View Post
If they are choosing to work because they are worried about running out of money or paying for a wedding, then they are neither retired nor FI.
+1
As they said in "The Princess Bride", I don't think those words mean what they think it means.
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Old 11-03-2018, 04:36 AM   #19
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Sure you can, it's called being homeless!
You can be RE without being FI and without being homeless. FI is defined around here as having enough so that you can sustain a SWR with a 90% or higher success rate until you are 90. And yet most people retire without being FI by that definition. Someone can retire with enough money to support themselves for say 10 years before they run out of money and they may be just fine (they may die before they run out of money, they may get by with social security, they may get a reverse mortgage, they may sell their house and downsize, they may move in with family members) but around here they would not be considered FI. The fact is that most people in this country who retire are not FI as defined by this board. So yes, you can be retired and not be FI and not be homeless.

Sometimes people on this board and the Bogleheads board get lost in their own world and forget how the vast majority of the rest of the world actually live.
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Old 11-03-2018, 04:43 AM   #20
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+1
As they said in "The Princess Bride", I don't think those words mean what they think it means.
The author did not claim to be retired or FI.
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