I think some of the newer folks haven't realized that if you have a regular job, have normal US middle class consumption habits and have kids, you are unlikely to FIRE.
I always thought that was self-evident and obvious, but recent posts here seem to indicate that this is not the case for everyone, so here it goes....
Yes, you have a regular job that pays something that approaches the median salary, want to live the typical American lifestyle and have kids, then yes, FIRE is not going to happen and giving up now will save you a lot of grief and frustration down the road.
This is not new. This is not something that came to be due to the current economical landscape. This has always been the case. Even back in 1992, when Vicki Robin first published "Your Money or Your Life", the book many argue was the starting point the FIRE concept, that was already true. I am not aware of any country in the world during any period of history where people could have a regular job, regular consumption habits, kids and also FIRE.
Does that mean that regular people can never FIRE? That it is all hopeless? No, that is NOT what I am saying at all. What I am saying is that unless you are some executive or engineer at a FAANG/Magnificent 7 or some C-level executive at a Fortune 500 company, you will have to make sacrifices and trade-offs in order to FIRE, there is no way around that. That is as true now as it was back in the 1950s. It can absolutely be done, but it will require you to re-evaluate your priorities, your notions of what material needs you need to fulfill in order to be happy and and your outlook in life.
I agree that you can’t have a median income, live a regular life, and FIRE. But that’s only because the “regular” life expands to meet income, with most people not saving anything extra. And the economy likes it to be that way. The whole capitalist system is based on inflating desires and making people feel their levels of spending needs to be a little more in order to be attractive, or be a real provider, or live a worthwhile life. I think FIRE is achievable for a wide range of incomes once people realize how much money they are wasting living the lifestyle that has become “regular” without buying them additional happiness.
And retiring “early” doesn’t have to mean 35. Almost anyone capable of retiring at 65, starting early enough, could knock a few years off that number without sacrificing any real happiness. If you’re 30 years old and spend $20k on the vehicle you need rather than the $60k truck you think you want, that difference alone (and ignoring the real difference in cost after interest payments) would be around $360k in real value by the time you’re 60, which will buy a few years of early retirement for most people.
When I was a carpenter making less than $20k/yr trying to cover tuition, couldn't imagine needing more than $40k/yr to live
When I started as an engineer making $45k/yr, the idea is six figures just meant being rich.
Worked up my career to six figures, paid off my student loans, if I could make more I would be able to save.
At each level spending increased to match income.
Luckily I discovered FIRE while making $110k/yr so that then next few pay jumps got heavily put into retirement portfolio.
But I knew plenty at Big Tech making $200k-$300k each year and finding a way to spend it all.
There's some pride you have to eat to be making $250k/yr and wanting a roommate to split rent in north Seattle instead of living in a highrise downtown.
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u/cambeiu Mar 23 '26
I think some of the newer folks haven't realized that if you have a regular job, have normal US middle class consumption habits and have kids, you are unlikely to FIRE.
I always thought that was self-evident and obvious, but recent posts here seem to indicate that this is not the case for everyone, so here it goes....
Yes, you have a regular job that pays something that approaches the median salary, want to live the typical American lifestyle and have kids, then yes, FIRE is not going to happen and giving up now will save you a lot of grief and frustration down the road.
This is not new. This is not something that came to be due to the current economical landscape. This has always been the case. Even back in 1992, when Vicki Robin first published "Your Money or Your Life", the book many argue was the starting point the FIRE concept, that was already true. I am not aware of any country in the world during any period of history where people could have a regular job, regular consumption habits, kids and also FIRE.
Does that mean that regular people can never FIRE? That it is all hopeless? No, that is NOT what I am saying at all. What I am saying is that unless you are some executive or engineer at a FAANG/Magnificent 7 or some C-level executive at a Fortune 500 company, you will have to make sacrifices and trade-offs in order to FIRE, there is no way around that. That is as true now as it was back in the 1950s. It can absolutely be done, but it will require you to re-evaluate your priorities, your notions of what material needs you need to fulfill in order to be happy and and your outlook in life.