Another look at FIRE

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14 Responses

  1. Steveark says:

    Nothing prevents you from achieving fire and then working only as much as you want. I have been retired for two years and do not need any income but I need to work some to stay happy. So I work about two days a week and really enjoy it. It also pays extremely well, I’m my boss and control my schedule for the most part. It is way better than my 9 to 5 which wasn’t bad. But this is way better. It is the choices being FI gives you that are so great!

    • Hey Steve. Thanks for swinging by. I agree. I think this post I mentioned when I retire i would enjoy working a couple hours a day. Just to give me something to wake up for each day. Congrats on your semi retirement and hitting fi!

  2. Leo T. Ly says:

    I will be cheering, but I refuse to wear a skirt.

    Here’s my two cents about achieving FIRE. When people hear about it, they automatically associate FIRE with just RE and missed the whole FI, financial independence part. It’s important to achieve FI because it provides you with the option to choose if you want to retire early or not.

    Once I achieve FI, I will no long have the following money worries:
    – how will I survive without an employment income?
    – who’s going to support me if I can no longer be employed?
    – where’s the fund to pay my daily expenses coming from?
    – will my kids be able to afford post secondary education?

    Another funny things about people’s perception about early retirement is that people don’t know what to do with their free time, while most people would claim to be too busy if you ask them about their current life style. What are they busy doing? Do you really want to work until your last breath? I sure wouldn’t.
    Leo T. Ly recently posted…The Right Ways To Time The MarketMy Profile

  3. May says:

    I do hope that I began to invest early so that I could have more options right now with both of my kids are very active in all the out of schools program.

    For me, I think being financial independent is a great thing. It does not mean you have to retire, but you will have much more choices with your life. I am struggling with my schedule everyday with having to drive my kids everywhere. My working schedule is different everyday too and sometimes I have to work in the evenings to catch up with the work. Your kids are still very young and you do not have that kind of worry yet.

    In the other hand, actually financially we will do OK if I go home to be a stay home mom. Without any debt, not even a mortgage, my other half can certainly provide for the family. But I am kind of reluctant to do that either. I am doing very well with my job in a field there are not so many female professionals and working makes my life more meaningful and fulfilling for sure. I worked hard to get where I am now and I am proud of it. So I understand why you said you are against FIRE.

    Let’s separate FIRE and Financial Independence. Do our best for Financial Independence, without sacrifice living quality of course. Once we get to that point, we can decide whatever we want to do, FIRE or not FIRE.

    Also, I think it’s pretty sad to have to work after 65 just because you need the income. I would like to be able to retire before 55. Then most likely I will continue to work, but the decision of working or not will not be based on that I have to have that salary.

    • Hey May great points. Having no mortgage would be huge. Congrats on your career as well. Sounds like you are doing very good. I couldnt be a stay at home dad either, i would go stir crazy but if i decided to work a couple hours a day that would help alot.

      Cheers May

  4. Glad to see that online community had some positive effects on you. You just got inspired to stay hungry and crush some bigger goals! And you know how to get a good balance between money savings, vacations and family time. Can’t wait to see how you do in a year time. Keep up the good work!
    Dividend Income Stocks recently posted…Portfolio Value Update – November 2017My Profile

  5. MrSLM says:

    I think the problem is that when you start talking about early retirement, people’s thoughts immediately go in a certain direction. Takes time and effort to correct that.

    • Hey Mr. Its true, Im guilty of that, Mindset is a very powerful thing. I have a friend who always talks negatively about the rich, I pointed out that he will never be rich since he is always bashing them and created this negative persona about being rich. We all need to watch what we think about.

  6. FIRE gives you the option of doing work you enjoy instead of working at a job you do not really want. Statistics have shown that over 75% dislike their jobs. Every place I have ever been worked at, the boss was cranky and threatened to fire people in hopes to get better productivity.

    Having multiple sources of income will reduce stress and improve your overall quality of life. Work on projects you get enjoy a big reason to aim to get out of the rat race.

    Some people went extreme towards FIRE, such as Jason Fieber of mrfreeat33.com.

    • hey Pursuit, yeah the statistics is pretty mind blowing. I have had a couple of those jobs but was fortunate enough to not need the money at the time and would just leave them. I try to be a good leader for our guys and not piss them off. Morale is a huge factor to productivity. Its true the multiple sources definitely is nice! Jason was extreme but I like his style. If it weren’t for family all around us I think I would make the move for a lower cost of living and a more relaxing life.
      Cheers

  7. Pellrider says:

    Every one should try to achieve financial independence. I wish, I had started early like you. When working is optional, you will enjoy the work and life more. This is the wisdom, I am trying to give to people around me.

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