- Location
- Sandy, Ut
Me... If it requires sacrificing anything I want to drive, do, wear, drink, see, taste, touch, try, feel and experience today
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Let's talk about the F.I.R.E. movement (Financially Independent, Retire Early).
- Thread starter spaggyroe
- Start date
Me... If it requires sacrificing anything I want to drive, do, wear, drink, see, taste, touch, try, feel and experience today
- Location
- Grantsville, Utah
I don't have a long drawn out response, but I WILL be that crusty and old cool guy that we saw at the end of the Rubicon trail, just truckin right up the trail in his self-modified rig. Huge beer cooler in the back and great big shit-eatin grin.
- Location
- Sandy, Ut
Reminds me of this
Obviously a tangent to saving/retirement but kinda the attitude of how I want to roll into my sunset years.
A large portion of Americans aren't. Savings rates are low, pension plans are scarce now, social security eligibility dates are creeping up (and isn't really enough to retire on anyhow).
- Location
- West Bountiful, UT
Early retirement isn't going to happen for me. I've been saving pretty hard for a pretty long time though. My retirement savings are on track to reach the number I set as a goal to retire in 10 more years at 66. Note, by "on track" I mean 6% returns every year would get me there. On track to get there, but, anything could happen in the next 10 years, so I'm not counting any chickens that haven't been hatched yet.
In the continuum of save it all/spend it all, I'm definitely more towards the spend it all now end of the spectrum. And mostly glad of it. Ignoring my own deteriorating physical abilities, the world has just changed so much. If I hadn't done the things I've done, WHEN I did them, I'd never be able to again because that world doesn't exist anymore. Progress, population, development, have destroyed it and it's never coming back. And in reality, I can't ignore my own physical abilities. Just simple reality, if I ever actually do retire, I won't be able to spend my time and money the same way I've spent my free time and money earlier in life. So I'm glad I did when the opportunity existed.
- DAA
In the continuum of save it all/spend it all, I'm definitely more towards the spend it all now end of the spectrum. And mostly glad of it. Ignoring my own deteriorating physical abilities, the world has just changed so much. If I hadn't done the things I've done, WHEN I did them, I'd never be able to again because that world doesn't exist anymore. Progress, population, development, have destroyed it and it's never coming back. And in reality, I can't ignore my own physical abilities. Just simple reality, if I ever actually do retire, I won't be able to spend my time and money the same way I've spent my free time and money earlier in life. So I'm glad I did when the opportunity existed.
- DAA
johngottfredson
Threat Level Midnight
- Location
- Alpine
I love what I do, I'm my own boss, and I'd probably do it for free if I could, so I have literally zero interest in retiring, and everything is about enjoying the here and now, while sensibly saving and investing where it can be done in a balanced way.
If I worked for someone else doing someone I didn't enjoy, I would be all over the FIRE movement. Or shoot myself, one of the two.
If I worked for someone else doing someone I didn't enjoy, I would be all over the FIRE movement. Or shoot myself, one of the two.
- Location
- West Bountiful, UT
Doing someone you don't enjoy isn't easy to keep up.
- DAA
- DAA
One thing that I'm finding very interesting in this thread, is that the folks that own their own businesses (@cruiseroutfit , @Cody , @johngottfredson, maybe others that I've missed ) are not interested in early retirement.
I guess that makes perfect sense when you think about it, but It is interesting to see.
I guess that makes perfect sense when you think about it, but It is interesting to see.
I wouldn't say I'm not interested in an early retirement as much as I'm not interested in the traditional concept of retirement. The sooner I can get to a point where I can do my work on my time in what place I see fit, the better. I'd love to take my kids and spend summers in Europe and work remotely. Hopefully I can make something like that happen in the next 10 years. My wife has already begun mentally preparing herself for the day that happens because she's much more of a homebody and sitting around my house on days off is about as much fun as watching a baseball game next to Stephen Nelson. Misery.
Running your own business isn't for everyone. As Kurt very accurately puts, it just means you get to pick which 80 hours per week you work. There are lots of people that just aren't wired to shoulder the type of stress 24/7 that being in charge of some things requires. There are lots of people that are happier knowing they have a structured position that is safe, and allows them to save for a retirement that they look forward to. They do better in routines and don't like to step outside of that comfort zone. Then there is every shade of person (figuratively and literally) that occupy very part of the middle between those two sides.
I realized in my mid 20's that I'm wired the way that I am. I'm not in possession of any marketable skills (unless being an asshole is a marketable skill), I don't particularly enjoy physically working hard, and I don't like being told what to do. So I only had so many paths to take lol. When I did sales/marketing for the print shop back then, there were people that literally worked 730-4, M-F running a letter inserter. A ****ing machine that inserts statements and other stuff into envelopes at about 8k pieces per hour. It's loud, it's dull, it doesn't pay particularly well, and it's the same clackity clack noise for 8 hours per day 5 days per week 50 weeks per year. Some of those people worked that machine, or ones similar, for 40+ years until retirement. To me, that sounded like Dante's 9th circle of Hell. But you know what, there is absolutely nothing wrong with that job and that life. Come in, do your job, go home and do whatever you want without any work related stress. Rinse and repeat for 40 years. Put away some money and not spend frivolously and boom, you retire on time with enough money to do what you want. Shit, they'll probably live to 100 since they avoided working themselves to the bone and being stressed out for most of their lives. I 100% understand how some people are on that path, but it's not for me. I'm a firm believer that every person has their own path, and I defend everyone's right to that path and their own happiness so long as it doesn't prevent someone else from having theirs. What's "right" in stuff like this is very much a subjective thing.
Running your own business isn't for everyone. As Kurt very accurately puts, it just means you get to pick which 80 hours per week you work. There are lots of people that just aren't wired to shoulder the type of stress 24/7 that being in charge of some things requires. There are lots of people that are happier knowing they have a structured position that is safe, and allows them to save for a retirement that they look forward to. They do better in routines and don't like to step outside of that comfort zone. Then there is every shade of person (figuratively and literally) that occupy very part of the middle between those two sides.
I realized in my mid 20's that I'm wired the way that I am. I'm not in possession of any marketable skills (unless being an asshole is a marketable skill), I don't particularly enjoy physically working hard, and I don't like being told what to do. So I only had so many paths to take lol. When I did sales/marketing for the print shop back then, there were people that literally worked 730-4, M-F running a letter inserter. A ****ing machine that inserts statements and other stuff into envelopes at about 8k pieces per hour. It's loud, it's dull, it doesn't pay particularly well, and it's the same clackity clack noise for 8 hours per day 5 days per week 50 weeks per year. Some of those people worked that machine, or ones similar, for 40+ years until retirement. To me, that sounded like Dante's 9th circle of Hell. But you know what, there is absolutely nothing wrong with that job and that life. Come in, do your job, go home and do whatever you want without any work related stress. Rinse and repeat for 40 years. Put away some money and not spend frivolously and boom, you retire on time with enough money to do what you want. Shit, they'll probably live to 100 since they avoided working themselves to the bone and being stressed out for most of their lives. I 100% understand how some people are on that path, but it's not for me. I'm a firm believer that every person has their own path, and I defend everyone's right to that path and their own happiness so long as it doesn't prevent someone else from having theirs. What's "right" in stuff like this is very much a subjective thing.
- Location
- Sandy, Ut
Fwiw. I have never said I am not interested in early retirement. If I could afford to sell my business and travel, I'd do it this afternoon. I simply said I'm not willing to replace the experiences I'm spending my money on today with the hope I'll be able to enjoy some extra retirement time from say 50-65 years old and in fact I'd rather work until 75 if it means continuing my current work/play balance lifestyle. If one can enjoy their life to their want/need AND save for early retirement, win-win. But I can think of many friends and family that are admittedly missing out on and/or regretting spending based on what it is doing to their retirement date... I have No Ragrets
- Location
- The Village of Kay
Like our conversation last week, I agree with this 100%.
I'll echo a lot of the posts. I choose to live my life and make memories while I have my health and somewhat youth, while saving for retirement at the same time. Could I save a lot more money if I didn't have hobbies? Sure, but what's the fun in that? I want to make memories with my family and friends while I can. Who knows what tomorrow will bring. I will be prepared for tomorrow, but not at the expense of memories today, especially with my kids.
I think someone already mentioned the key idea I live by in this thread: live WITHIN your means and put some money away for retirement early to capitalize on Compound Interest. I started saving with my first career job in 2003 but there was absolutely no way I could have maxed out my 401k contribution (19.5k per year) making 35k per year. I put in enough to maximize the match by my employer so as not to give away free money, but I couldn't have survived, nor would I have wanted to, putting more than half my salary away for retirement.
I believe different goals and approaches work for different people. No one plan is right for everyone. I respect folks that save everything, that just isn't for me. I agree 100% with @cruiseroutfit and @DAA that I am going to take advantage of opportunities today while they are there rather than wait until I retire when the opportunities 1) won't be the same, 2) may not even be possible, or 3) I don't have the health, stamina, fitness, whatever to truly enjoy the experience.
This is a great discussion. I like seeing the different perspectives.
- Location
- Never Far From Nowhere
People adore my baseball commentary, asshole.
I'd rather listen to a letter inserter for 40 years.People adore my baseball commentary, asshole.
Hmm. From what I understand, this is a tenet of the FI part of the FIRE movement. Not claiming to be an expert in it though, I'm just exploring all of this now. FWIW, this is my mindset as well. I'd love to be in that position.
Have you considered politics?
Even amongst a large group of assholes, somehow I think you'd stand out.
- Location
- Never Far From Nowhere
Lets be honest here, watching someone insert letters would probably be more exciting than baseball.
Fwiw. I have never said I am not interested in early retirement. If I could afford to sell my business and travel, I'd do it this afternoon. I simply said I'm not willing to replace the experiences I'm spending my money on today with the hope I'll be able to enjoy some extra retirement time from say 50-65 years old and in fact I'd rather work until 75 if it means continuing my current work/play balance lifestyle. If one can enjoy their life to their want/need AND save for early retirement, win-win. But I can think of many friends and family that are admittedly missing out on and/or regretting spending based on what it is doing to their retirement date... I have No Ragrets
10-4. I guess I misinterpreted your earlier posts.
That might be the nicest thing anyone's ever said to me!
As a matter of fact, I have considered politics, but I detest the partisan system so badly that I don't think I'd survive. I could never align with one side and I wouldn't be that interested in doing their scheming and politicking. I'd probably make too many enemies to ever get anywhere, and I'm not likable enough to be supported by normal people.
Wait... I agree with Cody..??
Again?
That's happening FAR too much in this thread.
I admire your sense of self awareness on this subject.
- Location
- Never Far From Nowhere
Man, this sounds like someone... trying to put my finger on who...
I just learned I'm not normal.