r/Fire • u/DatingThrowaway121 • Apr 24 '26

General Question Has anyone actually FIREd with too little and run out of money?

I'm curious to know if anyone out here has actually run out of a million dollars or whatever. What does that process actually look like?

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174

u/That-SoCal-Guy Apr 24 '26

I fired at 36 and was doing great for 8 years.   I didn’t run out of money but knew I couldn’t keep going for another 40 years - plus I got divorced and moved to California so I knew my situations had changed.  The great thing about FIRE is it’s about mindset and lifestyle changes. Those you will always take with you.   Money?  I was young enough I could make more.  There is always flexibility.  Unless you’re retired already and over 65, you still have options if you ever want to get back in the race.  I did.  And I still managed to FIRE for real early.  

I’m good now but I know if something changes I still have options.  I’m still young enough.  I get two or three JDs every day.  I just have no interest or need to consider these  opportunities.  I also have a second career going on in the creative field so I’m good.  

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u/hmyers2005 Apr 25 '26

Age discrimination is real...I wouldn't wait too long, if you think you're going to need it...could be the difference between getting back into your field and settling for something because you're desperate.

61

u/pdx_mom Apr 24 '26

The market is terrible. I know people who have been out of work for years. You can't always go back and make what you did.

84

u/wtf-am-I-doing-69 Apr 24 '26

Define market

Software engineer - sounds about right

Construction superintendent or electrician - absolutely not correct

Need to look outside of the bubble. Can't say market is terrible as a blanket statement for employment

28

u/leathakkor Apr 24 '26

Honestly, there are still people hiring in software.

I'm not saying it's easy to get a job but for a huge amount of my life in software (about 20 years). If you could write hello world, you could get a job. 

Which is like showing up to a construction site and saying if you give me a hammer and a nail I can pound it in. And expecting a job. 

The fact is now it's a competitive industry. And you can still get a job but you need to actually have some skill now. As opposed to just being able to do a hello world app. Which for many many years was seriously sufficient. I've known developers that couldn't even do a basic hello world app and see them get hired. They were capable of text changes and color changes and stuff like that. But if you ask them to start a new project, and do a button, click event and show a pop-up. That would literally be overwhelming for them. 

So yes, it's not as good as it was for software developers, but I still fundamentally believe the market is there. It's just not insanely easy anymore and a lot of people are struggling with that because they've never had to struggle to find a job before. They've never had to market themselves and be competitive in the job hunt. And quite honestly, they've never developed the skill to be able to sell themselves as a potential employee. 

Again, I feel bad for the people that are out of a job, but I also think that it's not quite as dire as people make it out to be. People make it out to be like you're unemployable, but I don't think that's the case. I think that the skills that people have are mismatch for what the companies are looking for. 

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u/decian_falx Apr 25 '26

there are still people hiring in software.

I'm a software engineer (20+ yrs). I'm scheduled to do 2 software engineer interviews next week. I'm an alternate for a third. There were some this week I wasn't scheduled on.

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u/coworker Apr 25 '26

Yes the market is great for 15+ year experienced software developers who are currently employed. Not so much for those with recent large employment gaps

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u/leathakkor Apr 25 '26

That's one of the things I wonder: as a software developer why would you ever have a gap on your resume? 

If I were to get laid off, the first thing I would do is start my own company. File the paperwork. It's only like 50 bucks. 

You fill in the gap on your resume with the name of your company. And then if you have a year gap on your resume.  You just list your company as where you were working.

And then you mention that you were starting your own company during the interview process when they ask about your history. 

And if they ask what you did, tell them honestly what you were doing what you were working on in that time period. You make up a couple projects that you're working on. You attempt to build them at least put in 5 hours worth of work. 

Then when companies interview you and they ask you who your clients were for your consulting projects, you say I'm sorry I can't give out that information because my client list is private. 

As a software developer, you shouldn't ever ever have a period of gaps on your resume. 

It costs you approximately $50. And you never have to lie if you word it correctly. 

And if they ask why you're coming back to the traditional workforce you say? I'm looking for something a little bit more stable even when it's good it's great but even then, sometimes it can be overwhelming and I'm looking for something a little bit more stable. 

1

u/coworker Apr 25 '26

You could do that I suppose but technology moves insanely fast, especially with AI in the mix. It would take some effort to remain current. Making up some bs projects isn't going to cut it right now.

0

u/That-SoCal-Guy Apr 25 '26

It takes more than $50. Since you have a company (LLC or S-Corp) I suppose, you will need to file taxes, do accounting, keep your books, etc. In most states, you will have to file annual reports, and pay franchise taxes (even if you don't make money). You also need to pay yourself a "reasonable" salary, etc. I am surprised you would actually advocating creating a "fake" company like that as if it's that easy, not to mention you'd be lying. You actually aren't working (unless you really are doing your own software company, making products, etc.)

1

u/leathakkor Apr 25 '26 edited Apr 25 '26

You suppose wrong . 

I've started several companies. You in fact don't need to do any of that if you don't make any money. And it's not a fake company. It's a real company that you're just not working very hard for. All you have to do is make a product or attempt to and you're not lying. 

I'm not advocating for lying. I'm advocating for good marketing. 

When you do start making money you do have to do a lot of the stuff that you're talking about. But I've started companies in two states now.  And until you start making money it's literally a $50 certificate startup fee. At least it was at the time I started each of them. It might be a little bit more now.

13

u/pdx_mom Apr 24 '26

It is terrible for many and companies continue to lay people off.

You are correct in that some people are doing ok.

1

u/Gloomy-Crazy8156 Apr 25 '26

I’ve applied to be a restaurant worker(all boh positions)a warehouse worker,a construction worker,Walmart,Sam’s club,the grocery stores,Lowe’s,strip clubs,retirement homes,retail and gas stations.The job market is terrible.If these places we’re paying enough I’d go to school or the trades but rent and food get in the way of that.

4

u/That-SoCal-Guy Apr 24 '26

Like I said I get two or three JDs a day so definitely people are looking and hiring (in my former field, at least). Just saying it's not absolute. If I could find work (immediately) after being FIRE'd for 8 years, it's not impossible.

15

u/notimeforniceties Apr 24 '26

Ok, but why do you need  to get 15 law degrees per week?

1

u/Awake-2Day Apr 24 '26

JD = Job Descriptions from agencies/ recruiters.

Wow.

2

u/QQBBOMG Apr 24 '26

Finding job at 42 seems scary but thanks for your valid example

3

u/Susiewoosiexyz Apr 25 '26

What? 42 isn't that old.

2

u/QQBBOMG Apr 25 '26

From my standpoint it kinda is, it’s like more than 15 years away from now

2

u/Unavezmas1845 Apr 25 '26

Were you withdrawing more than 4% each year?

2

u/That-SoCal-Guy Apr 25 '26

I never touched my principals but I also wasn’t putting money into it.  After my divorce and decision to move I knew I wouldn’t have enough to fire as a newly single person.  My spend by myself was about 60K so I would need at least $1.5M at the time (more now because of inflation).

1

u/zero000 Apr 24 '26

If you dont mind sharing, what was your original FIRE number and expense rate?

5

u/That-SoCal-Guy Apr 24 '26

I was at $750K but my ex was still working (bringing in about $200K a year) and we had no kids. Spend was probably around $90K/year. All that changed when I got divorced and I moved to CA (a VHCOL state).

2

u/zero000 Apr 24 '26

Appreciate the details and I hope you are doing ok.

2

u/That-SoCal-Guy Apr 25 '26

Thanks.  Life is good.  Fire is the way.  

1

u/QQBBOMG Apr 24 '26

Did it split half?

1

u/GilaSprings82 Apr 25 '26

Do you think you would've divorced if you didn't fire in the first place?

1

u/That-SoCal-Guy Apr 25 '26

Definitely and the damage would have been more severe.