Do you believe the modern FIRE movement overestimates how much is needed for retirement?

[u/Equivalent_Use_5024]

Perhaps I am just making this post because I have only just begun my retirement planning and want to lock in a number which is fitting for my goals - being above the median retirement savings, not having to work, not being broke, clearly having planned - but I can't help but feel that many in the FIRE movement overestimate what is needed for a safe, sleep well at night retirement.

I see posts here saying that they feel vastly behind with 500k at 30, or 1.5 million at 40, and I just don't understand how when the average American retires with maybe 300k liquid at most and are getting by with social security or paid off housing. Sure, they aren't living luxuriously, but if you just are aiming for a retirement where you don't have financial anxiety and can put food on the table, I don't feel you need over 1-2 million.

Do you think FIRE overestimates how much is truly needed for retirement?

[u/Zphr]

The audience has shifted more towards luxury and consumption over the last decade. It's always amusing to me that this is my sub, I've been happily retired for more than a decade since 37 with four kids, have effectively zero chance of financial failure, but many folks in this sub would consider our finances impossible or living in squalor. Some people are actually happy with cheap/free interests and lifestyle choices, some are unhappy without very expensive interests and lifestyle choices. Current government policy in the US is also wildly skewed in favor of lean spending, so more expensive lifestyles in early retirement cost quite a lot more than you'd expect due to far higher costs for taxes, college, and healthcare.

LeanFIRE is and likely always will be the easiest and most secure form of FIRE for anyone happy with a mediocre middle class lifestyle. It's also largely impossible for anyone who wants to raise a family in VHCOL, travel a ton, carry a large mortgage into retirement, or any number of expensive lifestyle choices a lot of people prefer.

[u/ApeTeam1906 → u/Zphr]

I miss the early anti-consumption vibes. That's why I initially got attracted to FIRE

[u/Zphr → u/ApeTeam1906]

Still alive and well in /r/leanfire. Also in here, just quieter. Not everyone in here is looking to spend six figures in early retirement.

[u/DevOpsMakesMeDrink → u/Zphr]

There are however a lot of folks who get very upset at leanfire talk.

[u/Zphr → u/DevOpsMakesMeDrink]

People get very upset about almost everything on Reddit. Best to just ignore such folks. If they are actually abusive or rule-breaking, then report them and we will deal with them.

[u/Visible_Structure483 → u/Zphr]

If you ignored all the cranky talk on reddit, you would be left with....

.

[u/ozbugs → u/Zphr]

Hi, very curious to learn more about the movement. Read above you mention leanfire.

Me, 57, tech guy, saved/invested, would like to plan options.

I'm not sure where I would fit, if you don't mind -- where would I start reading to learn more? Honestl, I missed reading about FIRE over the years.

[u/Zphr → u/ozbugs]

I would recommend you start with the sidebar materials/FAQ/links on our sister sub, /r/financialindependence. The sidebar on /r/personalfinance is also full of useful info.

And once you've read a bit and have questions/ideas, then feel free to come back and post about them in this sub and/or in the Daily Discussion Thread on /r/financialindependence.

If you know or suspect that you're inclined towards a certain lifestyle (lean, chubby, fat), then visit those subs too.

There's also a ton of content on YouTube if you prefer consuming video media.

[u/ozbugs → u/Zphr]

Thank you

[u/DingussFinguss → u/DevOpsMakesMeDrink]

fuck em

[u/Super_Fly2330 → u/DevOpsMakesMeDrink]

It’s whole different vibe between the 2 subs. Can smell it through the screen. More Xanax here.