FIRE has been a goal of my wife and I from day one. Our desire was reinforced in my early 30s when a health problem cropped up forcing me to realize my mortality and family responsibilities. I was able to redouble my FIRE efforts for a time.
8 years have passed since then, and the health problem recently caused me to move to half time work. Some of you might call me semi-FIRED. I don't since it wasn't by choice. It is a blessing in disguise, as I get more time with my young children, and to enjoy a slower pace.
This has slowed our FIRE plan. We now hope to completely FIRE in our mid 50s. Yet I count us as very lucky. We currently have a networth (including house) in the mid six figures. This despite relatively low household income. Working in the nonprofit sector is not a key to wealth! If we were not attempting to FIRE we wouldn't have had the savings and conservative expenses that now allow me to work part time.
I look across the street every day at my neighbor, and good friend, with the large house, etc. Big hat, no cattle. His house is underwater, he has too much debt, and no savings. Finances are a constant stress on his marriage and life. A few weeks ago the subject of retirement came up. He commented that he didn't think retirement was realistic anymore. "I plan to work until SS kicks in, or they bury me. Probably both." 34 and he has given up. Since he asked I told him we had a plan and hoped to retire after putting our youngest through school. I could tell he thought I was nuts. Maybe I am. But at least I am trying. If others ask I'll also tell them my plans. I don't view it as a secret, and don't care what others think.
I thank god I wasn't in his position when life forced me to slow down. I couldn't have done it. Our FIRE plans have enabled us to maintain a comfortable home (our 1st, bought 13 years ago), with no debt (except mortgage), and very little financial stress despite my need to change employment status.
Will my health allow me to go back to work full-time in the future? I don't know. Will we be able to FIRE? If I have to continue at half-time I don't know. I think so! I do know that FIRE planning has enabled us to weather bumps that would have derailed many others.
8 years have passed since then, and the health problem recently caused me to move to half time work. Some of you might call me semi-FIRED. I don't since it wasn't by choice. It is a blessing in disguise, as I get more time with my young children, and to enjoy a slower pace.
This has slowed our FIRE plan. We now hope to completely FIRE in our mid 50s. Yet I count us as very lucky. We currently have a networth (including house) in the mid six figures. This despite relatively low household income. Working in the nonprofit sector is not a key to wealth! If we were not attempting to FIRE we wouldn't have had the savings and conservative expenses that now allow me to work part time.
I look across the street every day at my neighbor, and good friend, with the large house, etc. Big hat, no cattle. His house is underwater, he has too much debt, and no savings. Finances are a constant stress on his marriage and life. A few weeks ago the subject of retirement came up. He commented that he didn't think retirement was realistic anymore. "I plan to work until SS kicks in, or they bury me. Probably both." 34 and he has given up. Since he asked I told him we had a plan and hoped to retire after putting our youngest through school. I could tell he thought I was nuts. Maybe I am. But at least I am trying. If others ask I'll also tell them my plans. I don't view it as a secret, and don't care what others think.
I thank god I wasn't in his position when life forced me to slow down. I couldn't have done it. Our FIRE plans have enabled us to maintain a comfortable home (our 1st, bought 13 years ago), with no debt (except mortgage), and very little financial stress despite my need to change employment status.
Will my health allow me to go back to work full-time in the future? I don't know. Will we be able to FIRE? If I have to continue at half-time I don't know. I think so! I do know that FIRE planning has enabled us to weather bumps that would have derailed many others.