Playing with FIRE

Article from Vanguard on FIRE

 

This first year of early retirement has been one of the hardest of my life

I was an avid reader of financial independence, retire early (FIRE) blogs on the path to my own early retirement. They served as inspiration and education.

However, I found them to be an echo chamber. Each tries to outdo the next in an effort to show you how to optimize your life. Then you can retire sooner to a lifetime of carefree bliss.

That’s all great. Except it’s not true.

Sure, there are elements of truth in every FIRE blog. Just as reality TV reflects some elements of reality.

Any time we tell a story, we share details to help convey the message we want. Simultaneously, we leave out parts that don’t fit the narrative.

My wife and I worked hard and planned diligently to achieve financial independence far earlier in life than most people. Last year, I retired from my career as a physical therapist at the age of 41. Seven months later we moved across the country to start a new life we had dreamed of for years.


I envisioned living a life of freedom, purpose and happiness. At times, that has been the case. But that’s only part of the story. In reality, the past year has been one of the hardest of my life....Continues

 

Wow I guess everyone handles it differently.

When I walked out of my workplace I was in a, like ‘holy crap is this real?’

Couldn’t wipe the smile off my face lol.

Doesn’t really sound like that bloke thought much about his big life changes before he went and did it, other than thinking it’s going to be perfect and blissful.

The first year is definitely tricky in the sense that you think about your life so much and often feel you need to be doing something super impactful to make the most of your time.

You lose the excuse of ‘I don’t have time’ to do X. You’re now 100% responsible for what you do and don’t do.

But after a while you realise that you don’t have to change the world and working on a couple things you like while having more time for other stuff like home life, health, helping others is plenty good enough!

 

interesting article - although moving across a large country away from family and friends would have its challenges, 'retired' or not.

Sometimes I feel 'retire' is the wrong word. I see more as being able to move from your physical work supporting your lifestyle, to the holy grail of money supporting your lifestyle.

As they say, if you love your 'work' you never work a day in your life. So perhaps this guy got it wrong with 'retiring'.

 

Lol, i thought the article was about you @Redwing.

I've been planning FIRE for awhile now. It may be smarter to transition into retirement by going part time. E.g start at 4 days and move to fewer days gradually. I always joked that life would be better with a 2 day working week and 5 day weekend. This strategy provides an opportunity to increase working hours if FIRE is not what envisaged or if additional funds are required in an emergency.

Another consideration - the government doesn't want people of our demographic, who I am assuming are hardworking contributors to the growth of the economy, retiring early. Therefore, they will legislate to control and keep us confined to our paddock through changes to taxation, franking credits, trusts etc. The reason I say this is to ensure there is enough risk mitigation in any FIRE plan. If I had FIREd assuming franking credits were going to exist in perpetuity then it might have been a very short retirement.

 

I have been doing exactly this; cutting back on work hours over the last 18 months and now down to on average 3 days a week. Luckily my outside interests aren't overly expensive and provide me with a relatively healthy lifestyle.
I have friends who are retired and they comment that they don't know how they managed to work full time before as they are now so busy! Mind you they are all reasonably comfortable financially, which alleviates the need to work or for that matter even consider returning to the workforce.
I am genuinely excited about retiring (fully) and owning my own time, something we simply cannot put a price on as we don't know how much we've got.
I will be 59 early in 2019 and will be pulling up stumps in August the same year after selling off my half of the partnership. Not early by any stretch.
Have been diligently mapping out my life plan (finances, interests, travel) for the next 5 years post retirement. The future looks good. Keeping active in both body and mind will be the key.

Can't wait!

 

Think I might have to cut back my hours also.

 

I envisioned living a life of freedom,

Discipline Equals Freedom

 

First time I've read this thread thoroughly after really just skimming it.

I've become cynical as I age. The main thought going through my twisted brain after reading these links is Why are they doing it? Pure altruism assuming there is such a thing?

They jar with me and I cannot explain why that is the case.

Oh look what I've done so you can do it too!

Yeah right. I've discovered how to solve modular equations mentally. If I can do it, so can you.

 

Sounds good to me. Then again I’ve got friends here for a week and had too many OP rums today (new year’s eve celebrations already started) so I’d probably agree with anything at the moment. Rereading your post perhaps you have too. Only joking of course. Ignoring me is the best policy which you’ve likely mastered.

 

Pure as the sriven dnow - not that there is any when it's 32C. No alcohol either

 

Phew, break from friends for 20 mins (they’re at the bottle shop).

SK, seriously though a good post that I agree with. Similar in vain to what I posted below yesterday:

I mean what’s the mystery about it all other than spend wisely, save as much as you can, invest well then retire when you reach your number!

 

As a general principle I tend to agree there is little mystery and only so many ways the same thing can be said. I binge read a whole bunch of blogs when I first started but now only follow a couple that resonate with me. I enjoy reading about the struggles other people have encountered and how they dealt with them even though I may not be able to replicate their efforts exactly.

With regards the proliferation of blogs, I am reminded of a comparable situation identified by my old Kung Fu Sifu. He noticed that he would often need to explain a technique in many different ways to different students. The students would not grasp the technique until they heard the message conveyed in a way they could understand. On top of that some students would not understand until they heard the same explanation for the 10th time!

I'm sure there are many blogs out there that do not resonate with me but may steer others onto a path that works for them. So the more the merrier I think.

 

OMG. You've run out of home brew? Or you being stingy and keeping it to yourself?

My awful attitude to these Vlogs and the like is by all means read them but do so with a jaundiced perspective. Take some aspects which suit, apply it to you as after all it is all about you (me actually) but appreciate there are many things outside of your control which will impact on your life and circumstances. Didn't plan for a death in the family. Totally unexpected but it happened. Such an event can and should change the way you approach issues.

I suppose I don't believe any one person has got the answer whatever the answer is (42?) so there could be a minefield for someone who avidly believes in one approach preached by some guru - usually self-appointed.

Time to head out for a hopefully quiet dinner.

Ein glückliches und schönes neues Jahr.

 

My epiphany from FIRE blogs (MMM specifically) came when I realised I should be focusing on being able to replicate what I was spending, not earning. Retirement went from being two decades away to immediately! The rest, as you guys say, is fluff for the naturally frugal but it is good to see others out there that live happily like I do.

 

Hear! Hear!!!

We have been retired for 8 years now. The first 6 years were absolute magic.

Then, in November 2016, my wife was diagnosed with breast cancer. That was definitely NOT part of our retirement plans.

2017 was spent on her getting treatment.

2018 was supposed to allow her to recover so we could get our retirement back on track. We were well on our way when, in August, she was diagnosed with a large intestine issue and had 75% of it removed in near-emergency 8-hour surgery. That was definitely NOT part of our retirement plans either.

2019 will be spent giving her to fully recover and then “picking up where we left off” with our retirement journey.

Moral of the story:- retirement is not necessarily a straight, smooth road. There may be many speed humps, many potholes and many sidetracks that one must learn to navigate. One must be flexible with one’s travel plans.

We have put all of our recent drama down as life experiences. We are now more focussed, more motivated, closer in our relationship, stronger in ourselves, ...

We are still enjoying our retirement journey albeit it not as we had originally planned.

Life is good (no matter what transpires) and far better than the alternative.

 

I think it's important to remember that all of life's unexpected twists and turns are going to happen whether you are retired or not. I think being financially secure enough to be retired is going to put you in a much better place to cope with those twists and turns.

 

Yes totally agree. Personally I don't read blogs with the view that the blog guru has the one true answer for all situations.

To me, blogs are just like here at PC. I like to read other people's viewpoint. When I instinctively disagree with what they say I take that as indication I should carefully consider why I disagree and do a little investigating of my own. Sometimes I find I still disagree and sometimes I find a gem that I can apply.

 

Totally agree but I think the probability of twists and turns occurring increases as one gets older.

According to my-laws (in their mid 80’s), getting old is such a bugger!!!!

 

Yes absolutely.

Though the thread is about FIRE so we're all hoping to be retired before we are old right!