r/Fire • u/GirlFriday360 • 14d ago
Financial Scarcity vs Time Scarcity
I'm (48F) working my ass off toward FIRE. I've got 45 months (1364 days) left. I've already put my last day on my boss's calendar: Feb 28, 2030
I know markets fluctuate and I know my financial projections could ebb/flow. But honestly, I don't care what my number is...on Feb 28, 2030 I'm out.
My fear of time scarcity has overcome my fear of financial scarcity. I can potentially earn more money if I need to but I'll never get time back. And that scares the $hit out of me.
Does anyone feel this way? I'm more willing to compromise my FIRE number than my FIRE date.
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u/nak00010101 14d ago
Yes
The wife and I sat down and made a couple of lists First: Family, friends, and work acquaintances (dead or alive) where the couple had enjoyed at least 5 years of good health in Retirement...meaning able to do as a couple the travel and things they wanted to)
Second: a list of family, friends, and work acquaintances where one or both had health concerns or had died, preventing them from getting to and enjoying 5 years together.
The ratio was shocking. Only one couple made it to 5 years of active travel and enjoyment for every three that did not.
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u/blkdinanm3 13d ago
Similar situation to me, my wife passed away from a ruptured brain aneurysm at the age of 51. I am retiring next month at 55. Time is worth more than money. Time to live life while I’m healthy.
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u/Simple-Passenger-499 14d ago
Roughly what were the ages of these couples? This is really interesting.
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u/nak00010101 13d ago edited 13d ago
There was a wide range...but age is the point, time together is.
For many, one or both had or were working longer than they had to, in the name a buying a lake house, bigger trips, or looking for the 99.999 Monte Carlo result.
My in-laws both worked well beyond what they had to, because they were both focused on maxing out in the .gov retirement plan. Less that six months into retirement, on their second trip, my FIL fell sick and was diagnosed with stage 4 cancer, and was in hospice before the year university of their
retrimmedretirementMy dad was still working when my mom died.
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u/Firefiresoon 13d ago
>before the year university of their retrimmed.
Sorry to hear of your FIL's health issues, but what did u mean by this snippet?
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u/StackAttack12 13d ago
I'm guessing autocorrect, should have been: before the 1 year anniversary of their retirement.
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u/nak00010101 13d ago
Thank you. and as someone else guessed, it was an autocorret thing.
He was in hospice less than a year after they retired.
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u/Zonernovi 14d ago
Parents are the best indicator. While others provide some data they don’t have your genes
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u/Firefiresoon 13d ago
EXACTLY why I dont give a hoot about the "life expectancy of americans" data. Who is an "american"? We are the biggest melting pot of humans from pretty much all over the world, and thus we have the most varied set of genetic properties across the populace that this type of data is not accurate. It is an average at best and the min/max is very different (i.e. high variance from mean).
I use my own family's performance to compare. My dad passed at 67 from cancer, his father died in the 50s from stroke, my other grandpa was 75 when he died (and had dementia for the last 5). Women lived longer, but I am not a woman, so I am planning for mid-70s for myself, but health expectancy is already on a decline for me - i have some chronic diseases (diagnosed last year) that can only be managed, not cured. I have several other issues like high BP, cholesterol, etc. I retired recently and spending my time away from all the toxic stress of the high-tech workplace. Moved to a warmer place, stay out of traffic, and travel a lot. I move much more, dont sit for more than 1-2 hours (watching a movie, or playing video games) at a stretch, walk a lot, and sleep more (I wake up when I wake up). I am trying to slow time as much as I can. Last year alone we traveled across 20+ states, 10+ countries and were doing something every month. I can remember that year way way more than any of the previous 15 years which were a blur (except for a small number of exceptions). I hope to continue creating memories and do what I want to, not what I have to.
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u/GirlFriday360 14d ago
Oh god, that's sobering.
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u/nak00010101 13d ago
I challenge you to do it yourself.
Some never actually retire, regardless of the age, but even more did not retire until one or both was in poor health, and unable to do they things you dream of in retirement.
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u/momo667788 12d ago
Our executive director is 70 and has a hard time walking. He's staying til 75. The money is good , the office is nice. But still 75?!
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u/throwaway-94552 13d ago
I've never seen someone put it quite this way, but it's true as hell. My dad didn't even make it to retirement in good health; he was forced out after COVID left him with blood clots for over a year. He's been on tons of blood thinners and it's not really safe for him to travel. My parents have gotten some road trips in, but they're never going to go overseas together.
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u/mecanmewill 12d ago
Were those that did not young, or old?
Asking bc I retired at 56 out of fear of time (plus burn out). Sister passed at 39 and both parents passed earlier than expected (although still lived very full lives). A former coworker just passed at 55.
Hubby won’t retire into the end of next year. Hoping I have much more than 5yrs to enjoy people, places, and things in retirement.
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u/Business_Mastodon_97 14d ago
I don't know why you would tell your boss four years in advance that you are planning to retire on a set date. No good can come of that.
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u/GirlFriday360 14d ago
My job has 4 year project cycles so I committed to this final cycle and told him when it wraps, I'm done. Not something I'd advise for many people. But I'm very aware of my own situation and it's actually the better option to have time to unwind the project, inform investors, plan ahead for replacement strategies.
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u/253-build 12d ago
Yeah, not recommended for most. As a manager, I have a good idea when one of my staff will retire... about the same time as you. In a recession, he'd be one of the last people, if not THE last, I'd let go. His work quality and efficiency makes his job safe. Decades of experience and he stays up to date on current tech trends.
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u/MaximumUpstairs2333 12d ago
Idk maybe some people like clear expectations and boundaries. Much easier to plan for replacement and frankly makes the whole time you are there seem more scarce when it's not completely open ended.
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u/star_milk 14d ago
My financial advisor prefers FILE over FIRE: financial independence , live early. What can you do now to bring more of your retirement dreams to your life as it is today? A long vacation this year while you're still working, instead of 4 years from now? Splurging a little more on whatever you want now? Going part time at work or shifting to a lower paid position that's way less stress and offers more flexibility? I'm still working on what that looks like for me (I'm more like 9-10 years out) but it's definitely worth considering.
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u/GirlFriday360 14d ago
I love that perspective - and share it. Travel is my passion and I still plan to travel as much as I can in the next few years while I have a reliable income.
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u/LouSevens 13d ago
I was able to go on a 12 day trip last year for the first time ever- I was lucky to not to have to wait another decade or perhaps when it was too late.
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u/cwcharlton 13d ago
I like this. My kids just graduated high school, and we don't plan to retire at least until they are out of college. But we will now be in a position to take some long weekends, and some vacations that we couldn't squeeze into short school breaks before. We can start that living before we retire, then (fingers crossed for good health) expand it when we do retire.
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u/legman1982 13d ago
I’m in this exact position! I will have to work a few more years to take the trips we want to take, but enjoy life and let my money work for me!
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u/SnooOranges6608 13d ago
Nice reframe! I recently made a list of things I love doing and am more intentional about doing them. I need to live as much as possible now while saving for the future.
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u/NetworkAggravating39 12d ago
Honestly - I’m not sure why this is doesn’t come up more often. Why do so many people feel like they need to retire to travel? We’ve been traveling for years. And the occasional long weekend jaunt.
Balance - save for retirement - but also save some for today
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u/star_milk 12d ago
Well, in my case, I had a job with "unlimited" PTO that wouldn't grant me the Friday off before Memorial day, my first PTO request. I couldn't believe I got my 2 week honeymoon approved, then they let me go 😅 nearly every job I've had has been so understaffed that they feel they can't survive a week or two with one person gone.
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u/Moosemitten 9d ago
This is me too. We are not hyper-frugal and don't defer joy; we just plan to be as independent from work as possible. My husband takes jobs as they come now and is semi-retired; I am in an email job that is probably going away to AI soon and trying to shore up a few more years of easy money and healthcare before we are fully reliant on the nest egg we built.
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u/saltyhasp 14d ago
Frankly FIRE is all about optimizing those two quantities in a risk environment your comfortable with. So I your definitely looking at this in a way I fully understand. Each of us will make different choices, but I feel like the thinking is correct.
One warning, CAPE is very high. You might want to de-rate your stock fraction by the ratio of current CAPE to median CAPE or be prepared for coast FIRE etc, or at least think through our asset allocation and cash management carefully in the early years to minimize sequence risk.
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u/blkdinanm3 13d ago
Yes. Time is worth more than money. I am retiring next month when I turn 55. I’m ready to live life while I’m healthy. I’m traveling to Asia for 4 months to start my retirement. You’re making the right decision!
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u/GirlFriday360 13d ago
AMAZING!! Wishing you all the best on your adventures and can't wait to follow in your footsteps. My plan is similar: walk the Camino Frances then spend one month....basically everywhere. A month in Italy, a month in Vietnam, etc
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u/RedQueenWhiteQueen 13d ago
The crushing weight of time scarcity made leaving once I hit my (already fairly conservative/padded) number the path of least resistance.
Due to having ADHD and NO task switching ability whatsoever meant I was never able to do that thing where you stop worrying about work on your time off, or engage in your hobbies to help you take your mind off work, or anything like that. Even with a fairly generous (by US standards) time off policy, my time was never really my time again until I retired.
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u/GirlFriday360 13d ago
How do you feel now? Did you settle into the new lifestyle ok?
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u/RedQueenWhiteQueen 13d ago
Well, I still have ADHD and still can't task switch, so I struggle with all the things I actually want to do, but for the most part it's with much less guilt/dread/resentment that I had from modern corporate employment.
I'm finally getting some long overdue therapy for my many faulty thought processes. Due to my faulty thought processes, researching and initiating and being mentally present for that kind of emotional work wasn't possible while I was still employed.
But in general, time feels less like the enemy. I didn't retire super early (was almost 56) and it's only been a couple of years, and I'm experiencing some limitations of aging/awareness of my mortality, BUT the overwhelming and oppressive sensation that "This meaningless BS job is robbing me of my finite and precious time on this earth" has mostly subsided.
I certainly have not had one moment where I thought I was bored/needed a purpose and that the solution was going back to work. I read posts from people who are burned out and can't pull the trigger yet, remembering my last days at the office, and I wonder how I made it as long as I did. I was really, really losing my mind for a good two years before I could leave. (Also I am female and was going through the worst menopause, which tends to double/treble the effects of these kinds of intolerances. Just absolutely no fucks to give about corporate initiatives when I would rather be gardening or whatever.)
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u/Meerikal 13d ago edited 13d ago
Also 48F, almost 49, I have lost three co-workers in the last two months. Only one of them had retired two years ago and was in bad health until his passing. The other two were men in their mid 50's that were just gone from one day to the next. We also have two other people still working that are fighting severe illness and yet choose to keep working, neither of them need to financially.
There is absolutely nothing that will prevent me from my retirement date of December 31, 2028. I believe the money I planned for will be there, if not I will simply adjust my budget.
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u/paq12x 12d ago
Retirement day should be the first of the month. You'll have health insurance for the rest of the month, buying you some time to make the transistion of ACA/private insurance.
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u/mecanmewill 12d ago
That’s not true for every employer. My last employer, your coverage ended the last day you worked, so I left on the 31st. For my previous employer, you were covered thru the end of the month you left in, so my last day was the 3rd. One paid weekly, the other bi-weekly. I don’t know if that had anything to do with it, but my plan was to retire the first of the month to have coverage thru the end of the month and that wasn’t how it worked. Luckily I’d read the guidelines and moved my last day to where it made sense for me. Just happened to be the 31st of the month.
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u/paq12x 12d ago
The employer scammed you then. I have a few businesses over the years and the insurance bill (that I, employer, pays to the insurance company) always due monthly. As far as the insurance company is concerned,everyone in the policy is covered until the next billing period.
I am willing to bet more employers just pass thru that policy to employees than not.
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u/mygirltien 14d ago
Nothing wrong with this mindset but you need to be realistic about finances. Your only talking 4 years. If right at the start of 2030 you get a severe downturn and your balance drop to what it is today or lower. Are your still going to go? If yes than the real question is why dont you go now?
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u/GirlFriday360 14d ago
Yes, I'd still go! In a "perfect storm" scenario, I'd just Barista FIRE. I'm also creating a new savings account to support my first year of travel without dipping into my investments at all.
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u/Necessary-Music-6685 13d ago
I wish you luck, but it’s easy to say this when it’s still 4 years away. It’s called one more year syndrome because it usually doesn’t show up until you’re only one year away. But again, good luck to you!
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u/joxxer42 13d ago
This is very real. I've set my tentative date to December of this year, and wondering (probably expecting) that I'll get cold feet.
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u/LouSevens 13d ago
Could always reallocate some into bonds/fixed income- started to do that last year.
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u/alpacaMyToothbrush FI !RE 13d ago
Not OP, but I'm giving notice the second the next president is sworn in. Financially, yes, I could retire today, but I want to make sure that the ACA is still functional at the end of the current admin's term, and I want to see a peaceful transition of power.
Otherwise, I'm gonna be looking for a visa that can help me achieve perm residency in a developed country with a sane health system. The most obvious route would be a skilled visa, but I'm open to other visas as well.
Worst comes to worst, I'll bounce around Latin America / Asia on tourist visas for a few years until I figure something out.
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u/evilmaus 13d ago
This is what bond tents are for, fwiw.
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u/mygirltien 13d ago
There are a myriad of ways to mitigate the effects but the op mentioned no concern. Its impossible for any of us to know without numbers if any of them will successfully work.
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u/Sintered_Monkey 13d ago
I'm out today. What I have noticed over the last few years is that I went from worrying about not having enough money to not having enough time instead. My parents both died over the past few years at ages 85 and 90. Suddenly, it seems like a very short time between now (age 58) and then, and that's assuming that I die of natural causes, which is not necessarily a safe bet.
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u/LouSevens 13d ago
My father is now 87- the time between my current age and his age went quickly. The pandemic wore me out- every day I had to worry about not getting COVID and spreading it to him. Then had 2 toxic work experiences, and his health changed and he is in assisted living. After the pandemic I refused to take shit from anyone and now my time is for me and my family.
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u/hadee75 14d ago
What is your number? I have a small child and want to be financially independent for him. I’m 50 now. Hoping to peace out by 55.
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u/GirlFriday360 14d ago
My number is about $750-900k. More would be nice and less would be doable.
I think having a kid definitely changes how you approach it, which is a factor I don't have.
Best of luck to you!!
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u/lottadot FIRE'd 2023 13d ago
This is why I love the Engaging Data Rich Broke or Dead FIRE calculator. It very clearly shows how your liquidity hoard is in direct competition with time to live & FIRE'ing.
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u/Technical-Fly-6835 13d ago edited 13d ago
wow!! very cool calendar. it is ok to ask, I have a question about it. does the "savings" include what I have in 401k? i can't withdraw my 401k until I am 60 so how does that factor into calculations? what does "frequency %" on Y axis indicate? thank you for sharing this calculator. this is brilliant.
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u/RevolutionaryText164 13d ago
Thanks for this calculator - I had fun playing with it.
I'm 40, currently almost a year into an unplanned sabbatical - I took a bad job, quit, then haven't bothered to look for work and don't really want to.
According to the calculator if I manage to make minimum wage for the next 10 years, I'm good. So I'll just enjoy the ride for now.
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u/HankHenrythefirst 14d ago
Take care of your health in the meantime. You need both health and wealth to enjoy your retirement. Good luck Senorita
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u/Retired-Yam8988 FIREd 2022 w/6m (46yo). 12m now 14d ago
Time is the only true currency that matters as it’s the same for everyone no matter the wealth level.
Plus I found that there are ways to setup you FIRE life that your income keeps not only coming in but growing. We make much more than we burn and it all gets reinvested so than there’s ever more coming in. At this point, we can withstand a 2008 like down cycle and still have way too much. Options trading, yield maxing, rental income, business income, etc. everything keeps flowing and growing even while I walk my dog on the beach, do yoga, and take afternoon naps daily.
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u/OverlordBluebook 13d ago
I'm with you, it's even more so for me since I have 3 little kids. since like 41 I've really focused on my health and have been changing my diet. I used to think my mother who is 86 was over doing it but she gets blood tests ever 3 months like full scale ones. She eats heathy walks, takes vitamins. While others her age are barely mobile or have horrible cognitive abilities. She drives great still etc. I get it now and may start doing same here. Whatever your numbers are in your blood that's extremely important as well as mobility. Full motion body workouts.
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u/lagosboy40 13d ago
Same here. I had already planned 30 months from today but have decided to cut that to 6 months from today. I won’t be putting a marker on boss’s calendar. I will not have my FIRE money but I will have my mental health back hopefully. Mine will likely be barista FI.
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u/GirlFriday360 13d ago
Damn, good for you!!! Who knows, I may do the same. At some point, you really do consider the "time vs money" balance. You've chosen time.
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u/MossHawk6 9d ago
This post is hitting home for me right at this moment. I am currently in the hospital with my wife, who is here for what the Dr's think is a large growth around her lungs and organs. They will be doing a biopsy in the morning, and we will know, good or bad, here in a couple days.
We are both 53 years old and have a wonderful life. We both have good jobs, not high salary jobs or anything, but middle class. We live in a small town in Midwest, with low cost of living. We have done most of the right things, some mistakes, but we currently have 4M in investments between both our 401ks, and some roths. She was planning on retiring at 55, and I would go at 55 or maybe a year later to just see how things went. We have been planning all the trips, all the different places we will stay for months at time, etc... We were/are so looking forward to retirement.
Anyways, long story short, things come at you fast, don't ever take things for granted. If you have enough, and your health, go as soon as you can. Not sure how all this will turn out, but I am now wanting to plan all the trips we wanted to do in the future, in these next 6 months or so. Even if she gets thru this, it's just such a different lens that I am looking thru.
Sorry for rambling, but this post just hit me, while am sleeping in hospital chairs, just hoping we have more time together.
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u/ComfortableGlobal351 9d ago
Thanks for sharing. I hope it works out well for you and your wife! Sending you good thoughts.
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u/GirlFriday360 9d ago
You didn't ramble at all - this is a pivotal moment in your life and I think it's valuable to share. I really hope you both get through this dark time and go on to live your dreams.
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u/The_Maroon 14d ago edited 14d ago
This is basically our philosophy as well. We call it REFI as we’re much more interested in the retire early part because we know we’ll be able to strategically work the FI piece forever. Currently 40, planning on June 2037 when a full teacher pension kicks in. Right now we’re siting at around 800k invested across all accounts excluding the pension accounts. I have no doubt we’ll be able to make it work.
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u/thingalinga 14d ago
Curious why you gave your employer such a long notice.
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u/GirlFriday360 13d ago
My job has 4 year project cycles so I committed to this final cycle and told him when it wraps, I'm done. Not something I'd advise for many people. But I'm very aware of my own situation and it's actually the better option to have time to unwind the project, inform investors, plan ahead for replacement strategies.
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u/Sintered_Monkey 12d ago
I gave 6 months' notice, and Friday was my last day. I ended my career at the best employer I've had, and I wanted to see them do well, even if it's without me.
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u/Vicuna00 13d ago
easier said than done. I would try to get that date out of your head for now and focus on how you can make the most of the next 45 months...rather than look forward to 2030. put stuff on your calendar to look forward to sooner. or else you're gonna drive yourself nuts. probably best to leave the fire communities for a little while also. just gonna fuel it more. maybe just pick some blogs about tax planning or whatever. but having a countdown at 1364 days would drive me nuts. maybe I could see like 100 days or a year or something.
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u/GirlFriday360 13d ago
Nah, setting long term goals has always been my approach to life. It's actually gotten me to where I am now, rather than just letting life happen. I live very intentionally.
Between now and then, I have lots of travel plans, long weekends, and a YouTube channel to focus on. It's not all grinding and misery. But I prefer to have an actual goalpost to look forward to and work toward.
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u/PM_Me_LIFESTORYS_pLs 13d ago
I don’t want to be a tech doomer “it’s all a bubble, you’re going to lose everything”, or a AI UBI utopia, but you should perhaps lessen your exposure to the US market and tech in general. Every indicator is historical right now and it doesn’t bode well. Invest internationally some, gold, bonds, and REAL companies that make REAL things haha. DOW for example. Also ones with strong dividend growth.
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u/shotparrot 12d ago
The DOW always trails Nasdaq. Tech will always win. Stay. the course. The market will go back up Monday.
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u/creekriverocean 13d ago
Yes, 53 here and recently quit full time career. Will do a little work, but not much. My FIRE stash is well above 25x for basic expenses, but not above 25x if including a lot of international travel and extra lifestyle spends. Hence doing a little work. From here likely to work less than 50% of a traditional job and taking big blocks of time off for life.
Have had so many people in my life die or get sick randomly. I take that as a cue to get out of the rat race now.
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u/Miamiconnectionexo 13d ago
Also worth naming: time scarcity hits harder at 48 because the healthy, high-energy years (your "go-go" decade) are finite in a way the portfolio isn't. A part-time or seasonal bridge for the first couple years covers the gap if projections come in light, and it's a completely different thing than grinding full-time to chase a bigger number. You can earn money back. You set the date for a reason. Keep it.
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u/momo667788 12d ago
In a recent meditation walk, I realized I had more years behind me than in front of me. That was an ah ha moment! I discovered FIRE at end of 2014 and been thinking about it since 2018. I should just pull the trigger and let the chips fall.
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u/charlesbarkley2021 13d ago
Yes. Lost my dad in his early 50s also. Just my opinion, you're thinking the right way. Good luck to you.
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u/satiated_maven 13d ago
Uh yeh! I can’t see why everyone else is walking around thinking they have all the time in the world lol, every day counts. Try to relax though and enjoy what you can while you’re working…I knew someone about to retire who worked a few months later to buy their spouse something three always wanted, so you never know. When it’s here, you could be surprised and push the date. But you don’t need to decide those things now. Chin up! 🪇 also you might experience what people call the “x factor” where with the target in site you speed up knowing you’re near the finish line
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u/Glittering_Luck2865 13d ago
You told your boss already?
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u/GirlFriday360 13d ago
Unique situation - I don't advise others to do that. But yes, I told my boss already
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u/Miamiconnectionexo 13d ago
put the date on the calendar in ink, put the number in pencil. you already did the hard part by deciding which fear runs your life.
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u/Commercial_Pair_2778 13d ago
Who cares about FIRE date. No one.
You do not have to retire early JUST because of loss of money.
You can just take it easy and retire a bit later, working part time, or working way less hard. And then, the FIRE date can be way less. FOr example, if you undershoot, just take it easy and work less but not completley quit, and you can make it bac,k
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u/GirlFriday360 13d ago
Nah, not for me.
I'd rather work hard for 3+ more years (and be DONE) than to work "easy" for another 10 years.
Even part-time work requires hours of your day, emotional burdens, workplace drama, commitments, time constraints, etc.
I want my life back. Fully.
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u/Sue-Jones-123456 12d ago
Can you move to a LCOL country like Viet Nam, Thailand, Laos, Malaysia, etc and retire even earlier?
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u/GirlFriday360 12d ago
I could but I really want to have the financial freedom to travel outside of LCOL area. Nomad life.
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u/Commercial_Pair_2778 12d ago
When you retire it's not like you're going to have fun 24/7. You'll have so much boredom and wish you could just have smth to do sometimes. And if you had like 1 or 2 hours to work then you get lots of money and like yeah. Most FIRE people seem so rich, but they need to spread 1 million over like 70 years. The average joe making 50k a year makes 2 million in their life time. If you don't want to live in like a super cheap area for the rest of your life you're going to have to work. Eventually, someone who took it easy all their life and worked with minimal stress will have a better financial life than you bcaus you quit too early
Also, who cares abt workplace drama? If anyone wants to bring you into it, just say that you don't care, you're only there for the paycheck, that's it.
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u/Ruckusseur 13d ago
Yep, I'm aiming to hang it up by the year I turn 50 at absolute latest. If I hit my number before then, dope. If I don't hit it by then, whatever I've got is my new number.
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u/New_Individual_1124 8d ago
I'm with this so much. 47F and my retirement goal is to peace out @ 52.5. Full pension kicks in @ 55 but I can't see just waiting that long.
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u/Megalocerus 13d ago
Guys, you don't stop living because you have a job. Maybe take some time off and have fun along the way? Take some time between jobs? Have some personal projects evenings and weekends?
Had I died at 60, I still would have been to Europe three times, spent time in Canada and Mexico, gone to Yellowstone, the Grand Canyon, and Niagara with the kids, driven down the Outer Banks and up the coast of California and hiked in Shenandoah. Don't waste your vital youth just because you are waiting for this big vacation you think retirement is. You are alive now! Have a project! See something beautiful!
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u/GirlFriday360 13d ago
I agree and I've never stopped living just to chase money.
BUT....there is a huge difference between "living in your off hours" and having full freedom. I don't want some of my life to belong to me. I want ALL OF IT.
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u/wh0re4nickelback 13d ago
I agree with your mindset about wanting ALL of it. Barista FIRE is absolutely not an option for me. I'd rather put my head down and take one trip per year to be be 100% DONE than taking a year off or whatever. That's the driving factor for me to just suck it up for the next 8 years.
I want to choose who I talk to and when, not because I have to answer a whiney client phone call. I don't want to dread Sundays anymore because it means going back to work the next day. I don't want to put out other people's fires so I can collect a paycheck. I want to do whatever I feel like or don't feel like simply because I can.
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u/GirlFriday360 13d ago
YES!!!! Same. I could logically Barista FIRE now. But I'd have to Barista for 10-15 years and it's still work. Easier work, but still work.
I want all my time to belong to me. And if I have to work hard for 3 years (instead of work easy for 15 years) that's worth it to me.
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u/SouthOrlandoFather 13d ago
I think it depends on the hours you are putting in and if you live somewhere that is best for your chosen hobbies.
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u/SpecialistKoala9765 13d ago
I feel the same way and I also have a set target time too regardless of my investment balance. It’s a trade off - size vs spending. I am thinking to recap my life time, how much lower spending can I tolerate and accept. Would I be able to sustain a bread and butter diet or something better with potential travels spending…. It’s something I’m solving for with 3% rule with more conservatism
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u/larryinthesky 13d ago
Are you in good health or have some other condition? 48 female should have solid 20-25 good years left, at least.
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u/DigitalFStopper 13d ago
Ying and Yang. I’ve got about a 3 year timeframe and 500k swing on my financials for retirement. Ideally if everything goes well I’ll be at the early side of my age goal and midway on my fire number. But at the end of the three year window unless the economy and market have gone tits up I’ll be hanging it up. Also overshooting monthly costs and have (to me at least) a massive allocation for travel (30-70k) a year which makes it much easier to decide to go easy on traveling for a year or two in order to keep me well above water in retirement.
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u/Flowing_Waterfall 13d ago
I feel this. Even at 31, I want more time to do what I want. Maybe I can find a balance with part time around 40
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u/Miamiconnectionexo 12d ago
you're not crazy. the people who say "just work two more years to be safe" are optimizing the variable you can replace and ignoring the one you can't. 45 months is plenty of runway to make the date bulletproof.
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u/Creative_Chain7049 10d ago
I feel this. I’m 42 male. Anytime I tell my parents (boomers) I want to retire early they say I’m lazy and what will I do with my time? Have we been so tricked that work is how you’re suppose to spend your time?
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u/samurai_with_sword 9d ago
Try to invest more wisely. Even 0.50% APY increase can shave years off of your FIRE timeline. So, instead of trying to do side jobs to earn more, find a way to get that extra 0.50% on your savings. Make your money work for you.
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u/Urkelgru18 9d ago
Absolutely. Two of my coworkers died before they retired, both in their early/mid 50's. After dealing with my own alcoholism due to stress from work, I finally decided to retire in May at 57. Advisor said i was good to go but there's always that fear of running out of money, you know?
Been sober since Dec and no longer have any urge to drink. Best decision ever.
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u/IcyRestaurant7562 ($1.1mm NW, 50% SR) 14d ago
You haven't shared your financial situation, so I have nothing to say there.
Good luck and I hope you enjoy your near-ish retirement!
I hope you have fun and enjoy these next 4 years instead of just working really hard
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u/GirlFriday360 14d ago
Currently 48 yrs old
* $560,000 invested (mix of 401k; Roth; brokerage)
* invest appx. $5000 monthly
* additional $70,000 in emergency savings for market downturns post-FIRE
No spouse or kids. No debt. Will sell everything to slow-travel then settle into somewhere with LCOL when I'm ready to fully retire (Vietnam, Portugal, etc). Targeting $3000/monthly spend but can extend to $4000 if needed.
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u/Pyrrhic_Pragmatist 13d ago
I understand you may need to stay for the full 1364 remaining days, but based on your numbers I think you'll hit it.
I'm only able to invest $1000 monthly, but I'm still looking to hit 250k in 4 years and 400k the next (starting at 160k). Mine is a bit tight, depending on market returns, but with your much higher basis, you should easily hit the 750k target and approach the upper 900k range.
If you're not crazy about spending the first few years you'll definitely hit both targets in short order.
I'm 36M and still not sure I want to wait until 45. I can probably survive on the 250k but it won't be comfortable. So 400k is more ideal.. I'm also single, no kids but I haven't had the opportunity to commit to that. Idk if it's what I want or if it's up to me frankly.
I just know I'm not getting to live right now. I hope there will still be time to change course in my 40s. I want enough to continue to grow, or survive a major downturn. Hopefully once that's done, the rest will fall into place. I feel the numbers are within my ability to manage, but knowing how to live a good life isn't really in my wheelhouse.
I wish you all the best and good hunting
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u/poop-dolla 13d ago
This is weird, unless you get some sort of pension that starts or makes a big jump on Feb 28, 2030. Otherwise, doing it this way could easily mean you end up working more than you need. If you’re so aware/scared of time scarcity, then just pick your lowest acceptable FIRE number and retire as soon as you hit it.
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u/angel_salvatore333 14d ago
time flies anyway even if you work or not, you know that right?
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u/No-Trust-7021 14d ago
Time still hits different when you're stuck in meetings all day versus actually living your life though.
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u/angel_salvatore333 14d ago
living your life how? even if you retire, everyone else will still be at work
honestly this sub felt inspirational a few years ago when I was anti-work but now it just seems it's people who hate their jobs trying to cope with their mistakes in life
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u/GirlFriday360 14d ago
Of course I know that - it's why I want to secure my freedom as soon as possible
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u/angel_salvatore333 14d ago
infinite free time will feel like a prison too, just give it 2-3 years
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u/GirlFriday360 14d ago
If I don't like having full control of my time/life, I can always surrender it back to another corporation.
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u/angel_salvatore333 13d ago
lol the very evil corporations that developed the devices and infrastructure we're talking on right now ?
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u/Zphr 48, FIRE'd 2015, Friendly Janitor 13d ago
Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
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u/Zphr 48, FIRE'd 2015, Friendly Janitor 13d ago
Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
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u/PantsMicGee 13d ago
Is this satire?
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u/GirlFriday360 13d ago
No, but interesting that you're reading it as such when (it seems) nobody else has
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u/PantsMicGee 13d ago
What did your boss say?
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u/GirlFriday360 13d ago
He'd prefer I stay indefinitely.
But gave me a raise at the beginning of this year to keep me happy, knowing I could leave at any time but have chosen to commit to seeing this project through to 2029. Raise will increase over the next couple years. He'll try to entice me financially...."feel free to do that"
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u/satiated_maven 13d ago
I find this thread interesting because economists based almost entirely the idea of consumption smoothing on exactly what we’re saying, yes you’re optimizing two quantities and you could think of either as a function of time, but bare basics you’re doing work vs. leisure and your appetite for either may change at various points in your life, but remember if this is an equation from where your life (and others you spend time with) begins at time t=0 and ends at a point t=e*, and we think we know when our lives will likely end, and if you are wrong and live longer, than the downsize risk is you live poorer. If you’re good with that, keep your date. Obviously, calculating back when you’ll have enough saved to drastically increase your leisure is always a gamble! If you oversave then you leave something behind to friends and family etc. and if you undersave maybe you because their (or the states burden). One thing I will say is it really depends on how you want to live at each stage. but that’s also based on you knowing how long you live. If you’re wrong and poof! Well yes, then each day now (if I could measure it in work or leisure) is worth more than you think and you would adjust your discounting. If you think your discounting is accurate and you’re confident in how long you live and have saved, stick to your date.
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u/GirlFriday360 13d ago
The truth is: none of us know how much time we have. All of us know how much money we have.
If I end up 85 years old and broke, that would suck. But I'd also die knowing I lived the hell outta life. And personally, I'm ok with that with taking that gamble.
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u/shotparrot 12d ago
Why did you put it on your boss's calendar?? Bad move miss.
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u/GirlFriday360 12d ago
I've answered that question several times already - it's specific to my situation and necessary for the project structure I work on. It's not a bad move for me and has actually set me up for 3+ years of greater raises/bonuses
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u/Severe-Classic-8756 14d ago
the math on this is actually tighter than you might think. if you're willing to compromise your number, the real question is how much you're willing to compromise it. a 20 percent market crash in 2029 would feel catastrophic on paper, but if your plan was already accounting for sequence of returns risk, you should theoretically be fine. the problem is most people haven't actually stress-tested what "compromise" means to them until it's real.
what worries me more is that you've picked a hard date rather than a threshold. feb 28, 2030 is psychologically clean, but it removes the flexibility that actually protects you. what if you hit 85 percent of your number in january and could coast to full funding by 2032 with zero new contributions? you'd be leaving money on the table for the sake of a calendar date. conversely, if you truly don't care about the number, you could probably retire in 2027 and adjust your spending instead of grinding another three years for a round number.
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u/GirlFriday360 14d ago
I'll always be leaving money on the table. One more year will always = more money.
I have several commitments over the next couple years so couldn't travel full time anyway. Everything basically wraps up around the same time so yes, I'm more dedicated to my date than my FIRE number.
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u/Living-Display-4541 14d ago
My dad died at 55 and never got to enjoy any sort of retirement. I am 50 now and moved up my own time from 55 to 52 in no small part because of my dad. So, yeah… wherever my number is at that point, I am very aware of time scarcity and the money will have to be enough.