Hi all
Glad to be a part of the community
I chanced upon this community when searching for inspirational stories to re-energize myself. It's often a lonely path.
I've been on FIRE for almost 5 years now, although I've experienced plenty of success, I'm still a very long way from being truly FIRE. (Betw, I'm not American, so I may not completely be able to relate to things like 401K). Married with no kids , ive been living strictly by the mantra "if I don't need it, I won't buy it". I've gone from a $20k networth to a $270k in 5 years, but the majority of that was via saving what I earned, and more than $100k is locked in a real estate I regretted purchasing, 30k is in a life insurance account which can be cashed but I'll rather not. I didn't even get into the stock market until the covid pandemic hit. Life occasionally also got in the way of savings, and switching careers midway didn't help either.
I do have more than 200k trapped in a pension account, which I cannot access until I'm 55, unless I gave up my citizenship. I've already migrated so that's half the job done but the thought of giving up my citizenship is an emotionally difficult choice to make. I used to be pretty certain I'll apply for citizenship in my new host country but covid and the amount of racism I've experienced during that period showed me that I'll never be accepted as part of the community for as long as I look and sound different.
I feel I've made a lot of mistakes along the way, which has set me back from my FIRE plan. If I had learned to invest in the stock markets earlier I might have accelerated the journey by 2-3 years. I started investing during the pandemic and made a tidy sum, so that made me feel a bit better about myself.
I'm already 37, though I'm holding a good finance job that pays well and bosses are fantastic, truth is I'll still much rather be doing something else everyday. FIRE has been on my mind every single day of the last 5 years, it literally consumes me sometimes. My goal is to retire by 43 with at least $700k, and work a part time job - something that is easy , not having to worry about money all the time. , but the more I think about it the more farfetched it seems. I've only 6 years left until 43 and unless the stock market explodes between now and then it will be nearly impossible. The more I dwell on it the more discouraged I feel. I'm married and my spouse is generally on board with FIRE, but she does not share my level of passion and conviction, so I'm pretty much working alone.
This bit of ranting has made me feel a lot better. Thanks everyone and good night.
Regards
Dan
Glad to be a part of the community
I chanced upon this community when searching for inspirational stories to re-energize myself. It's often a lonely path.
I've been on FIRE for almost 5 years now, although I've experienced plenty of success, I'm still a very long way from being truly FIRE. (Betw, I'm not American, so I may not completely be able to relate to things like 401K). Married with no kids , ive been living strictly by the mantra "if I don't need it, I won't buy it". I've gone from a $20k networth to a $270k in 5 years, but the majority of that was via saving what I earned, and more than $100k is locked in a real estate I regretted purchasing, 30k is in a life insurance account which can be cashed but I'll rather not. I didn't even get into the stock market until the covid pandemic hit. Life occasionally also got in the way of savings, and switching careers midway didn't help either.
I do have more than 200k trapped in a pension account, which I cannot access until I'm 55, unless I gave up my citizenship. I've already migrated so that's half the job done but the thought of giving up my citizenship is an emotionally difficult choice to make. I used to be pretty certain I'll apply for citizenship in my new host country but covid and the amount of racism I've experienced during that period showed me that I'll never be accepted as part of the community for as long as I look and sound different.
I feel I've made a lot of mistakes along the way, which has set me back from my FIRE plan. If I had learned to invest in the stock markets earlier I might have accelerated the journey by 2-3 years. I started investing during the pandemic and made a tidy sum, so that made me feel a bit better about myself.
I'm already 37, though I'm holding a good finance job that pays well and bosses are fantastic, truth is I'll still much rather be doing something else everyday. FIRE has been on my mind every single day of the last 5 years, it literally consumes me sometimes. My goal is to retire by 43 with at least $700k, and work a part time job - something that is easy , not having to worry about money all the time. , but the more I think about it the more farfetched it seems. I've only 6 years left until 43 and unless the stock market explodes between now and then it will be nearly impossible. The more I dwell on it the more discouraged I feel. I'm married and my spouse is generally on board with FIRE, but she does not share my level of passion and conviction, so I'm pretty much working alone.
This bit of ranting has made me feel a lot better. Thanks everyone and good night.
Regards
Dan