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re: Who in here follows the "FIRE" mindset when it comes to money?
Posted on 6/30/24 at 8:56 am to bigtig
Posted on 6/30/24 at 8:56 am to bigtig
quote:
People getting out of the game at 40. You must be making a hell of a lot of money. Also what do you plan on doing. I for one can tell you that after one to two years of retirement it can get boring as hell. 40 is way to young to call it in . No matter how much money you have. I got out at 62 and I would go back to work in a heart beat. I do stay active helping my kids and doing things for others. And if you want to know I have more money than I need and give to my kids every year.
Worst thing my in laws ever did was retire. They have lived a sad life the last decade. Too much alcohol, watching constant news and game shows. If that's what my retirement would be, count me out.
We of course want to one day but want to keep active and continue to do some traveling here and there.
1
Posted on 6/30/24 at 9:08 am to Billy Blanks
quote:
some traveling here and there.
here and there? When you retire and no longer working traveling should be way more than here and there.
This post was edited on 6/30/24 at 9:11 am
Posted on 6/30/24 at 10:01 am to Paul Allen
I can retire in 1.5 years, with a pension and enough other funds to never work again. I am considering it, but I will only be 53. Probably work to at least 60. Don’t want to waste away.
Posted on 6/30/24 at 10:01 am to Paul Allen
quote:
way more than here and there.
Traveling is harder as you age.
I’ve never traveled overseas, but I’d like to see some places.
I think some people are just wired to travel all over the world. I am not. I enjoy the trips I take, but I don’t have a bucket list like many people do. I’m glad they enjoy their time traveling. I’m going to try to do a little more travel when I retire. It just seems like when I take time off now, all the work just piles up and has to be done when I return.
Posted on 7/1/24 at 1:46 pm to RT1980
I've been watching/listening to the "Camp F.I." videos on YouTube this week. Lots of great content.
Personally I like the variations. Coast FIRE, or "Financial Independence, Recreational Employment "
For those of who have saved well ahead of the curve, it allows us to find work that we enjoy regardless of pay. In essence, enjoy the fruits of your saving early by freeing yourself from the rat race.
Personally I like the variations. Coast FIRE, or "Financial Independence, Recreational Employment "
For those of who have saved well ahead of the curve, it allows us to find work that we enjoy regardless of pay. In essence, enjoy the fruits of your saving early by freeing yourself from the rat race.
Posted on 7/1/24 at 2:30 pm to bigtig
quote:
People getting out of the game at 40. You must be making a hell of a lot of money. Also what do you plan on doing. I for one can tell you that after one to two years of retirement it can get boring as hell. 40 is way to young to call it in . No matter how much money you have. I got out at 62 and I would go back to work in a heart beat. I do stay active helping my kids and doing things for others. And if you want to know I have more money than I need and give to my kids every year.
It's a two-sided coin. Money coming in and more importantly money going out.
Posted on 7/2/24 at 11:52 am to RT1980
I'm just impressed w/ the early/mid 30's FIRE crew with the $150K cars and 5 figure watches. I was still in college in my late 20's. 
Posted on 7/2/24 at 8:20 pm to Dragula
Who are these people? This sounds made up rather than reality.
Posted on 7/2/24 at 8:30 pm to lynxcat
quote:
Who are these people? This sounds made up rather than reality.
shite you’re not one of them?
Posted on 7/2/24 at 9:32 pm to lynxcat
Those are people who got into a start up that hit when they were in their early to mid 20s.
Baw I went to HS with had a 20M+ exit from a local start. He started in sales right out of school when the company was pretty new and stuck with it and became their top sales guy and an executive in the company in his late 20s/early 30s.
They got bought out and he made BANK on the exit.
Obviously this is crazy rare, but you'll see a decent number of posts (larps, perhaps) in the FIRE subs of people in their 30s wondering if they should pull the trigger because they somewhat unexpectantly earned a shite ton of money by being in the right place at the right time.
Baw I went to HS with had a 20M+ exit from a local start. He started in sales right out of school when the company was pretty new and stuck with it and became their top sales guy and an executive in the company in his late 20s/early 30s.
They got bought out and he made BANK on the exit.
Obviously this is crazy rare, but you'll see a decent number of posts (larps, perhaps) in the FIRE subs of people in their 30s wondering if they should pull the trigger because they somewhat unexpectantly earned a shite ton of money by being in the right place at the right time.
This post was edited on 7/2/24 at 10:11 pm
Posted on 7/2/24 at 10:22 pm to JohnnyKilroy
quote:
Those are people who got into a start up that hit when they were in their early to mid 20s. Baw I went to HS with had a 20M+ exit from a local start. He started in sales right out of school when the company was pretty new and stuck with it and became their top sales guy and an executive in the company in his late 20s/early 30s. They got bought out and he made BANK on the exit. Obviously this is crazy rare, but you'll see a decent number of posts (larps, perhaps) in the FIRE subs of people in their 30s wondering if they should pull the trigger because they somewhat unexpectantly earned a shite ton of money by being in the right place at the right time.
We didn’t have those crazy kind of numbers but my wife got close to around 700 shares and 2300 options of stock as a bonus to take a job and move from Charlotte to Baton Rouge in 2011. She also got 700 options and 200 shares per year for 5 years afterwards. I think all of our options were between $30 to $90 a share and today it’s over $700 a share.
We sold some and optioned some of the original and had a few thousand shares left that hadn’t vested yet when she lost her job.
That was a kick in the balls seeing that balance disappear overnight.
This post was edited on 7/2/24 at 10:38 pm
Posted on 7/2/24 at 11:08 pm to Rize
It's not worth it if you can't enjoy life in your 30s just to do nothing in your 40s.
Posted on 7/3/24 at 1:45 am to Florida_Man1981
Why the assumption of not being able to enjoy life in 30s? Life isn’t this black and white.
Posted on 7/3/24 at 9:53 am to lynxcat
quote:
Who are these people? This sounds made up rather than reality.
I'll bite, can only speak for myself..
- 35 years old, no kids
- FAANG employee for over a decade
- Heavily compensated by stock, stock has over 10x'd since starting
- $0 net worth to ~$2m in just over a decade
- Investing ~$100k per year
- Have about ~23x annual expenses in liquid assets
Trying to ride it out 5 more years, expecting to have ~35x annual expenses by 40 (assumes 7% growth) if I can make it that long.
quote:
I'm just impressed w/ the early/mid 30's FIRE crew with the $150K cars and 5 figure watches. I was still in college in my late 20's.
I'm trying to avoid lifestyle creep as much as I can, so not doing this. Drive a Honda and have a cheap running watch.
quote:
It's not worth it if you can't enjoy life in your 30s just to do nothing in your 40s.
I do enjoy my life, I am very fortunate to be in the position I am in. With that said, working for a major Tech company is essentially an exercise in seeing how much BS you can tolerate and how long you can ride the wave. That wave will be ending for me shortly.
Definitely NOT trying to sit around at 40 and do nothing, certainly want to work/invest. Just would like out of the BS games that come with a huge corporation.
EDIT - Posting this under an alter for privacy purposes
This post was edited on 7/3/24 at 10:01 am
Posted on 7/4/24 at 4:09 am to lynxcat
quote:
Why the assumption of not being able to enjoy life in 30s? Life isn’t this black and white.
For a lot of these FIRE fools it is.
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