Playing with FIRE

Very interesting sequence @truong, do you think you can change the sequence, ie. enjoyment and then meaning or meaning then enjoyment?

 

11 months, 28 days, 8 hour, 23 minutes and 42 seconds...... I left out the milliseconds.

 

Fantastic Post @truong!! See this all the time with retiree clients. If they are grumpy, fed up and purposeless pre-retirement, the only difference in retirement is they have more time to find things to be grumpy and fed up about.

On the other hand those with one or two true life passions or interests they stay involved in never miss a beat. This is particularly noticeable if they are contributing in a community sense, often they are serving the upcoming younger generation in passing on valuable skills they have in this life interest.

So important to find a purpose, have a continuing zest for life, and a community to care and be cared about by others. Best to get started now

 

Bl..dy hard to go backwards, I suspect.

Say you’ve tasted the joy of doing things that you really like, it would take a serious reason (e.g. dire circumstances) for you to go back to just doing mundane tasks. And even if that happens you’d be more than likely to find a way to enjoy them anyway.

Such is the nature of mindsets that once you’ve acquired a “higher” one, you’ll never go back to one you have discarded. It’s part of the natural maturation process as we go through life and learn through experience.

Same for the person who finds meaning. They won’t lose it in a rush unless there is a deeper meaning to be found. Fulfilment is such a deep feeling that the pursuit of a “shallower” one such as pleasure looks pretty unlikely. But more than that, why look for enjoyment when it’s there anyway?

You see, some people are fortunate enough to skip the whole sequence and go straight to the last step. There they find all 3 steps in one: they’re busy, they enjoy themselves and they have a purpose. Retirement bliss.

 

Are kids part of the equation?

 

No, decided to have chickens instead.

 

@Nodrog raising children is like being pecked to death by a chicken

Be wary of feathered children also

 

F.I.R.E. How these penny-pinchers retired in their 30s

 

Interesting. 'I have the dialogue in my head when the temptation (to spend on x) is there....'.

It's good the article went into those who can REarliesh.... (rather than than the full RE).

Some further stories and US tips

 

@Redwing & @Mac Fields the MMM approach sure can be a powerful early retirement enabler.

For most people though, the path lies somewhere between MMM living & consumerism..... the trick is to find the right personal balance.

I've been following MMM for years & over time adopted the parts that make sense to us. It's amazing how little you really need to live comfortably when you break free of the debt cycle most live in.

 

Apparently there is Fire, Lean Fire, and Fat Fire

FIRE – Financial Independence, Retire Early. The combination of both of these. You can be FI and continue working at a full-time job ; Or you can be taking a mini-retirement
Lean Fire – FIRE, but with a smaller amount saved up
Fat Fire – FIRE, but on a very large budget.

 

I’ve opted for Morbidly Obese FIRE.

 

I like the definitions to break these things up a bit.

People are so conditioned to a fat lifestyle that a financially healthy one appears underfed, much like societies view on physical weight; makes it even better.

 

Too late.... if only I knew

 

One of the few taking into account inflation:
The 4% Rule: The Easy Answer to “How Much Do I Need for Retirement?”

I often read about properties doubling up in price every 10 years but only few clearly highlight in 10 years that money will have less value due to inflation hence you need to aim for a 2.5x to have a real double value

 

Ah yes. The old "lucky" tag. When we paid off our first mortgage in 10 years using one and a half moderate incomes while raising two well-educated kids we were told how "lucky" we were. The harder we worked and saved, the "luckier" we seemed to get...

 

Fanning the Flames (of the FIRE)

WHAT COULD POSSIBLY be wrong with saving like crazy, so you can retire early? That’s the notion behind the Financial Independence/Retire Early, or FIRE, movement. Yet lately, I’ve read a lot of carping about FIRE, both in articles and in the emails I receive.

Just last week, those complaints got yet another airing in The Wall Street Journal. Earlier, Suze Orman weighed in, arguing you need at least $5 million to retire early. “I hate it,” she said of the FIRE movement.

The complaints prompted a recent rejoinder from one of FIRE’s leading evangelists, Mr. Money Mustache. “The whole reason for doing any of this is to lead the happiest, most satisfying life you can possibly lead,” he argues....

 

The FIRE movement is growing pretty strongly I would have to say!

Although cost of living in US is arguably much lower than in Oz, as you'll find most of the FIRE culture is about lowering your cost of living to a second, or third tier city/town.

But it's starting to grow here as well. As a millenial myself, I see it amongst my peer network - money discussions are no longer taboo and in fact are front and centre of discussions, both in personal and professional settings.

I think it's because we are becoming increasingly mobile and connected, where the one job for life ethos doesn't quite hold true anymore, and there's more pressure with the increased cost of living.

But in saying so, I've said it to my friends time and time again, there is no time like now in terms of OPPORTUNITY to make money (if that be your goal). I know of peers who have different "side hustles", all whilst in a steady 9 to 5, whatever it takes really.

There are some of us who aren't into smashed avo's and instagram lifestyles, just wanna work hard so hopefully one day can reap the fruits!

Personal plug: started a blog about this too thefrugalsamurai.com

 

Had a quick look at the Blog @Hwangers , looks good, I couldn't work out from the brief visit waht your investing strategy is though?

 

Thanks for visiting! It's mainly a mixture of property and shares in a balanced approach, whilst chronicling our investment journey (and sharing a few things along the way).

More so a recount of our own experiences and learnings through the investment classes.

I try to keep it light...