Anyone retired early solely from property or shares?

I personally think no one truely retires, what does that mean, you give up on everything?

Im just trying to buy time so that myself & fiancée can do with it as we please, whatever that may be, travel, help other people, etc etc.

I think the most important thing besides the money is having purpose, a reason for doing it other than yourself. When you come to that point of being able to manage your own time, it’s important to still have that purpose.

Everyone’s purpose & needs are different, so the goal posts on how much is needed is different. Ours personally is $140k gross - PPOR paid off

I know some that only need $50k and are happy as, some that need $300k and are still broke & miserable

 

Agree that the purpose is different for everyone. I think the notion of retirement for me is the ability to not 'need' to be anywhere I don't want to be. The required passive income buys time to spend as desired, which arguably for most is escaping a typical 9-5.

 

I want to have enough income to do what I want when I want. I've got that now really. Rather than have 'things' I would rather freedom.

Just think when you are on your death bed will it matter how many shares you have or how many properties - or even how much passive income you have.

 

You pretty much know.....sorts the wheat from the chaff......

 

Perhaps you need to read up on the different types of FIRE?

 

Like Lean FIRE, Fat FIRE, MO FIRE?
Ya. I've read up on it.

Here's a couple of concepts you can read up on.
Though you seem to know them well.

EGO | meaning in the Cambridge English Dictionary

CONDESCENDING | meaning in the Cambridge English Dictionary

Some follow up reading:

There is No Room For Ego in Teaching or Learning

 

Hey mate I thought this might help....

19 Harsh Truths You Don’t Want To Hear But Must (You’ll Be 10 Times Better For It)

 

Hey @NHG. What is MO FIRE?

 

My preference being the next step up from Fat Fire ie “morbidly obese” FIRE.

 

I want to achieve a passive income when I am dead..... please can someone personally let me know when I met my goal?

 

Oooh I like the sound of that. More passive income to spend on unnecessary materialistic things.
Sounds like my sort of fire.

Most people in the fire community seem to be motived to reach fi so they can have more free time. My purpose of fi is to have more income to spend on things I don’t really need but want.
Material things can bring you joy in life through the experiences you have in owning such items.

For example I like to waste money on cars. Some say it’s wasted. I think the experience of owning and driving some of the most brilliant automobiles in the world, is something I will look back fondly on at the end of my time and be great full that I got to have those experiences.

 

To the contrary from statistics and backed up by observance people who retire have less time, they are dead or dying after 10 years. If you are doing something you want to retire from why would you do it ? and not change occupation. If you cant do things you want perhaps your problem is time management or apathy. Cant see why retirement means you cant do what you want to do. Travel for the sake of travel gets boring and becomes a pain in the arse. The best way to travel and get a proper experience and understanding of the places you travel to is to intergrate and work there. I actually prefer to stay home now and bring the world to me and meet amazing intelligent interesting people through my businesses. You have to have purpose in life, retirement to me means giving up and merely existing for no reason. I did try at 31 and it gets depressing and soul destroying, seen it in expat communities it is all beer and skittles until it isn't.. I will never consider myself fully retired again. I will always keep the option open of earning income that way I can get the rewards for investing aggressively knowing I can make money again if it all goes to Poo.

 

Adding to @Nodrogs response.

Depending on the source, it is as follows:

Financial Independence, Retire Early

Lean FIRE <$40,000
FIRE $40,000 - $100,000
Fat FIRE $100,000 - $200,000
Morbidly Obese (MO) FIRE $200,000+

I am yet to meet a person who was able to achieve top end of FIRE or above without the following:

a. inheritance;
b. a business;
c. high income paired with decades of consistent investing;
d. a magic lamp.



Straight up, most people don't need or want it.
It's not a goal that brings angels to shower blessings upon you as trumpets blare in the distance.

When I started my journey, I was very focused on the RE part.
Due to hard work, and a lot of dumb luck, I achieved a lower end FIRE in my mid 20's.
Due to sheer stupidity, I let it slip.

Lesson #1 Passive income is not so passive.

Unless you're the heir to Johnson and Johnson, at the minimum, you're chasing up your real-estate agent when they drop the ball. House getting dated? Time to renovate. Share market not going so well? Time to balance your portfolio.

Lesson #2 Figure your s*** out.

I MADE IT, I FINALLY MADE IT. Wait. Now what?

Money solves money problems. Then you gotta deal with the hard stuff.
Few dozen countries here, some altruism there, and a little romancing later, and all you have left are insecurities, and a whole of time.

I've been witness to many a great man reach their financial goal, then Icarus into a dark abyss.

Work on yourself as you grind towards your goal, it will make the journey truly rewarding.
With some luck, you may even like who you are when you reach your destination.

Lesson #3 You can FI without RE.

My lifestyle would fall into the MO FIRE category.
Life-style creep, it's a thing (25 year old me is ashamed, 33 year old me doesn't care).

I never did figure out how to get there with passive investing.
I made something work with business. Minimal grind time, covers my lifestyle, - that's a part of my personal journey, you do you.

As elaborated previously: Positive cash flow - goal to earn 30k a year.

You don't need to reach FIRE to figure out what works for you.
Chances are, if you ain't doing it now, you weren't going to do it anyways.

Visualise climbing a mountain.

Ground Base: Build up your buffer, created by good habits of paying yourself first.
1st Base: Replace 100% of your need expenses (food, shelter, basic clothes)
2nd Base: Replace 50% of your luxury expenses (ipad, mobile phone, internet, etc)
3rd Base: Replace 100% of your luxury expenses (travel, etc)
Summit: Have surplus (donate to charity, help out family, etc)

Focus on ground base first, then 1st base, so-on and so-forth.

Don't wait till the end, craft a life that works towards what you imagine for yourself.
Whether it be a white picket fence house with the wife and kids, or being a bad-ass boss man cruising through the Amazon.



Give your ideal lifestyle a crack. Chances are, you won't like it anyways.
Try, try again.

Lesson #4 You ain't nothing but a flash.

Life is a flash between two inifinities.

You're born.
You set meaningless goals.
Then you die.



After 6 months of Netflix and Got-Fat, I gave up on soul-searching and took action. Tried a few things, and found I gain a lot of satisfaction from creating great communities.

It works for me, and it helps pay the bills.
It's hard. It's not always enjoyable. It does give me a sense purpose.

I didn't have to wait till my portfolio putt putt putted to its final stop, I work the travelling, giving back, and family into what I do day-to-day. I still work on and off, not from need, I enjoy what I do.

That's what FI is about for me. Options. My ego can stroke itself, no need to RE to middle finger the world.

Work on your 'what's next', you could probably do it now.

 

Great post. Thanks for sharing.

 

Thanks for that interesting response. The philosophy of it is intriguing.

 

I have said this before.... FIRE is not about money...it is about time...and doing the tihngs you want to do....

As Lacrim points out....time is precious...you can make more money but NOT time.

 

In the gig economy what is retirement? The other day i looked at the retirement calculators from asic, and the message i got from them is retirement is:
1. a financial strategy to maximise the age pension;
2. divorce (you get more)
3. spend your money early (max your government handout)
I think early retirement is a concept that baby boomers created after working for extremely long careers in single companies / employers. Baby boomers spent most of their life working so they didn't need to work. Why did they do that?
The gig economy is upon us. I think that the concept of intermittent work or part time work is probably a thing not restricted to the elderly and infirm. I think people are not wanting to work for money any more. They work for different reasons, and importantly they choose not to work for money more often.
What is early? To a Baby Boomer i think that miht have been 50. But i think early retirement is now probably 66 (if normal retirement is 67).
The thing i like about property in retirement is that it is not a depreciating asset (mostly), and the income can increase over time.
....... i shall now retire ......

 

I disagree. I retired nearly 4 years ago on a lot less than $80k. I sold a few properties in the last few years and I do think I'm on easy street.
I love property, and it has allowed me to retire but I love cruising and touring Europe and going in my motorhome more.

We have been travelling the world for a lot less than $100k and we don't play bingo.

I've lost friends who died before they reached retirement age. I've worked hard all my life and now I'm living the great life (It's the only one I've got and I deserve it).

 

I’d be thrilled with 40-50k/year personally and would have a high quality of life on that too (for me anyway). Travel is my only real splurge, I don’t need too many bells and whistles

 

FI-DO – Financial Independence- Doing Overtime