Who in here follows the "FIRE" mindset when it comes to money?

This is a complex topic with plenty of layers...but yes, there are many on this board interested in FIRE.

Generally, folks seems to care more about the "FI" than the "RE". Financial Independence as early as possible provides freedom that many are chasing.

If you want personal specifics, I've got a goal of $5M liquid investments + college fully funded as my FI target. Hopefully by 45.

I think lots of people become too obsessive about it from the forums and groups I read.

I’m trying to save aggressively, but I think I would want to keep working in some form or fashion to keep busy and not worry about spending.

I work with some physicians who are “retired” from full time work but still work a fair amount . They travel a good bit, avoid working the holidays, presumably aren’t eating into their retirement, and have plenty of time and money to go see relatives. I think a part time set up like that sounds desirable to me.

I hit my FI # awhile back and RE at 45. I work a very occasional part time job that pays me to travel and funds our Roth IRAs.

I think if you can get an extremely high income for several years and/or live ridiculously frugally even still on a very solid income, it's certainly possible, but its not something thats particularly realistic for 95+% of people in my mind.

Like you hear about most people who FIRE in their mid-late 30s, but most of the time I'd say it's because they lived ridiculously cheap for a long time. Like maybe they ended up making $100k-$150k/yr household income over that time frame, but were spending like less than $30k-$40k a year and were able to invest that spread...but even then dont particularly have large nest eggs by any means, just continue to live EXTREMELY lean. Like I've seen people FIRE who have maybe 1 paid off rental property and maybe $300k-$500k in investments and they FIRE. That would keep me up at night in my 30s

On the flip side, you have others who call it maybe in their 40s at some point but also had ultra high income for years, didnt necessarily have to live that frugally but certainly well below their means still. They I tend to find have a but more in investments, say a few million or so.

Lifestyle creep is definitely a real thing though and the more anyone can keep that under control the earlier you can definitely retire if that's your goal.

I watch a lot of Dave Ramsey and they tend to believe the FIRE movement is dead due to the increasing and unpredictable costs of everything, but do keep in mind they're quite conservative financially.

I think the definition of "retire" matters. I'd like to make enough money to retire from working in sales organizations at tech companies before I hit 60 and do something local that I enjoy that has me on at least an above sustenance income level.

People that say just want to retire as in no longer work again, that feels like a risky proposition to me.

quote:

---

Like you hear about most people who FIRE in their mid-late 30s, but most of the time I'd say it's because they lived ridiculously cheap for a long time. Like maybe they ended up making $100k-$150k/yr household income over that time frame, but were spending like less than $30k-$40k a year and were able to invest that spread...but even then dont particularly have large nest eggs by any means, just continue to live EXTREMELY lean. Like I've seen people FIRE who have maybe 1 paid off rental property and maybe $300k-$500k in investments and they FIRE. That would keep me up at night in my 30s

---

I feel like this is a pretty small subset of the FIRE community. Most I see are people retiring in their 40s or 50s with 2+ million in their portfolio.

quote:

---

Generally, folks seems to care more about the "FI" than the "RE". Financial Independence as early as possible provides freedom that many are chasing.

---

Agree with this. Numbers are a little different and I'm slightly older. Wife definitely wants the RE part - looks like she'll be good at 50. I'll be 52 if the numbers all align, but it really makes no sense for me to retire early at this point, the business runs itself in many ways and funds the portfolios.

quote:

---

I feel like this is a pretty small subset of the FIRE community. Most I see are people retiring in their 40s or 50s with 2+ million in their portfolio.

---

serious question, do FIRE folks not give too much to their 401ks given you can't touch those until you are 59.5? If you RE at 40, that 401k money is locked up, no? Even though you are technically retired?

You can withdraw from your work 401k if retired from that position at 55. Would need to use brokerage account bridge until 59.5 for Roth IRA withdrawal.

quote:

---

serious question, do FIRE folks not give too much to their 401ks given you can't touch those until you are 59.5? If you RE at 40, that 401k money is locked up, no? Even though you are technically retired?

---

401K is fine but you have to build ample taxable brokerage savings to FIRE in 30s or 40s.