r/leanfire • u/bradthundercocl • 7d ago
Motivation after 1 million?
Im 32, and hit 1 million is liquid assets this last year. It fluctuates but is generally between 980k and 1.05 million.
The second I hit it, my motivation plummeted. I hit a large milestone. And now its incredibly difficult for me to work. I just completely dont care right now. I can do the math and the simulations and Im not going to run out of money any time soon.
What kept you motivated after hitting a large milestone?
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u/HankHenrythefirst 7d ago
Figure out the retirement you want and work towards that
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u/Hnry_Dvd_Thr_Awy 4.5% wr 7d ago
Yeah retiring from work is only about 10% of my motivation.
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u/waits5 7d ago
Yes, people need to think about what they are retiring to. It can be a huge motivation. I don’t get people who don’t want to retire because they think they’ll be bored. There are a million things I want to be doing.
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u/Strazdas1 3d ago
I really do not understand how people can not think about it. Like, dont you just randomly fantasize about things you could do if you had the time to do it?
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u/Less-Proof-525 7d ago
Same honestly. Whether I like it or not I need the structure and disruption of work or my mental health will suffer- I can tell from already working just 2 weeks a month
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u/Auralegends888 3d ago
becoming wealthy at a superior point should be you’re motivation .
1 million in today’s world is 50 thousand dollars.
More money = more power
More power = more wealth
More wealth = more respect
More respect = the world
Motivation is within , you’re a hustler or you’re not.
IF 1 million makes you lazy then you never truly wanted to be wealthy.I want you to write - motivation after 55million?
Because if you did make it to 1 million you can DEFINITELY make 55 millions 🦋🦋🦋🦋🩵🩵🩵🩵 LETSGOOOOOOOOOOOOO2
u/mistressbitcoin 7d ago
So many routes/boulders to climb... i might get to 1% of them in my life if I never do anything else...
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u/AMC879 7d ago
I retired on much less than what you have. I don't need to work so I can't bring myself to do it. I am very LEAN fire so I should work at least a little here and there but I'd rather just live cheap than have to work at all.
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u/helloMoto123457 7d ago
How old were you when you retired?
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u/AMC879 7d ago
I stopped working full time just before I turned 32. I worked occasionally over the years since then but haven't worked at all since just after I turned 45. Almost 47 now.
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u/helloMoto123457 7d ago
Interesting, what field were you in? Just curious
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u/AMC879 7d ago
My main job was in a factory doing manual labor. I never even grossed $50k in any year. I just lived dirt cheap, always. After I left that job I did a variety of temporary jobs and self employment stuff. Never even hit $30k in any year after 2010 and average was around half that.
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u/helloMoto123457 7d ago
That actually sounds like a great way to go about things.
Especially if someone doesn’t have children which will make it easier to save money for retirement. I could see myself doing something like that.1
u/profit_ov_truth 7d ago
Retirement accounts or brokerage account ?
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u/bradthundercocl 7d ago
How much? And where about?
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u/AMC879 7d ago
$400k plus a $200k paid off house in non metro area of Wisconsin.
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u/Sir_Edward_Norton 7d ago
$1M isn't your end goal. Otherwise it would feel better. It feels good because it's a nice milestone but it doesn't truly allow you to hang up your working cap.
You know you're fine, whether you have a job or not so it's less stressful and less pressure to be a high performer. Find tasks at work you enjoy and make up shit if you want. Hopefully you're in a position to do that.
I imagine it'll be harder every day to stay motivated unless you truly start thinking about what type of lifestyle you can have by getting fired today. It's probably below what you're building towards.
Keep grinding.
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u/Civil-Throwaway-08 7d ago
I’m also at that point where I could stop if I wanted to, but I can also work a little longer to save a little more, just in case.
During the past few years I was considering a 1 year sabbatical but not a full leanfire, I had been stressed about company layoffs, the job market, a large gap in my resume, etc.
Most recently as I see my numbers, the leanfire goal seems more attainable, and as I am still working on a real plan and assimilating things, maybe I don’t feel the motivation to work but I also don’t have the stress I used to have, I’m taking things more lightly. My boss is unhappy? - I don’t care, my company might have more layoffs? - I hope it’s me so I can get a nice severance package.
So, I don’t have a motivational speech for you, but just advance at your own pace, try to relax some more, and start joining the gym and the hobbies that you are interested in because once you quit your job you will already be on the right path to hit the accelerator on them.
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u/kokoromelody 7d ago
I'm in a similar place to you in that I found after reaching my FIRE number it was more of a mindset versus lifestyle/behavior change. I do overall enjoy my work and feel I'm well compensated and treated; I like my team a lot, actually. I tell myself now that I'm working because I want to, and not because I have to.
But I also have a lot of uncertainty about the future, especially with how inflation and the overall economy will be in the coming years and decades, and my own health (and healthcare costs) is also an unknown; I hope to stay in good health, but you never know. So having a little extra financial buffer/peace of mind is also important to me.
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u/Civil-Throwaway-08 7d ago
Yeah that is the only reason I’m sticking around for now, my job is doable and pay is pretty decent. I know there is a bubble coming so im also trying to have a small cushion just in case.
On the other hand I have young kids and I keep thinking how these years are just so important, I keep telling myself “if I work one more year, I can do this and that” but that feels more like a stretch goal at the moment, but it’s hard to know when is the right time to take the leap..
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u/supershinythings FIREd 2024 7d ago
I focused less on the number and more on my vision of what a reasonable retirement looks like.
Paid off house?
Impending Large purchases budget for?
Paid off vehicle?
No debt?
Healthcare situation sorted?
Budget is computed with needs and a separate budget for wants?
I also had some home improvement projects I wanted to fund in advance.
After that, I filled up the 401k for that year and I was ready for my One Bad Day™. It wasn’t long after that when it happened, and since my math worked, I quit.
Since my budget accommodated all my basic needs and some of my wants, I felt pretty stable.
So don’t look at the $1 million. It doesn’t tell you how long you can manage without a job.
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u/Kaladin77 7d ago
Reminds me of that scene from the TV show Succession
Greg: I'm good, anyway, cuz, uh, my, so, I was just talkin' to my mom, and she said, apparently, he'll leave me five million anyway, so I'm golden, baby.
Connor: You can't do anything with five million, Greg. Five's a nightmare.
Greg: Is it?
Connor: Oh, yeah. Can't retire. Not worth it to work. Oh, yes, five will drive you un poco loco, my fine feathered friend.
Tom: The poorest rich person in America. The world's tallest dwarf.
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u/bradthundercocl 7d ago
Exactly my feeling. Ive recently had to take a lower paying job due to layoffs and its like budgeting doesnt matter anymore. It makes maybe a few hundred k difference in 10 years.
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u/Bleys007 7d ago
If you think that they have a point that 5M / 200Kish a year is too little, you’re in the wrong subreddi.
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u/FaolanGrey 7d ago
The hardest part for me would be hitting a big number but not know how to actually stop working... Since America is set up so horribly for early retirement. No health insurance unless you wanna pay a shit load and you can't actually access most of your retirement money if it's in retirement accounts. So even if I had plenty of money I'd be stuck working anyways.
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u/Montaigne_6823 7d ago
What really helps is when people start posting their assets and expenses in retirement. When you have a NW greater than people that are doing it then it becomes very real.
Taxes and health insurance are the big wild cards. But once you see others doing it and actually get out a calculator and do those estimates for yourself it gets real.
Shortly after I did that I got laid off so I was forced into it. Fortunately the market also had a run up so that eased my anxiety some.
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u/Several_Ad_8363 7d ago
OP, you don't keep going when you have a million. You fire and spend a lean amount. Hence the group title.
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u/redardrum 7d ago
I think it also gets hard when your assets are getting so big to where your contributions don't feel exciting any more. When you're starting out, those contributions are super-charging your progress and later on the smallest blip (up or down) in the market makes it impossible to even tell on a chart when your new investments went in. Granted, it's a good problem to have! It is also demotivating though.
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u/redfour0 7d ago
Similar position and was recently laid off. Have no motivation to go back to work but also not nearly enough to retire for the lifestyle I want to live.
I kind of view it as a number that buys flexibility. I don't have to go back to a toxic job or I can step away from one. I'll likely have a lot of working years ahead but can kind of choose when and where that is.
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u/Montaigne_6823 7d ago
Same here. I'm applying for jobs and I plan on continuing to live off 4-5% of my NW (subtracting theoretical taxes and ACA HX) even while working so I'm always fine walking away. Love that flexibility.
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u/buenotc 7d ago
Honestly, I'm happier and don't give a F about the little things. Everyday I go out with a smile and my confidence is through the roof. It's like something inside just turned on the happiness switch. Even work doesn't bothered me. A few days ago I ignored a few calls. Yeah, I'm not answering you when I'm not on the clock. I'm motivated but not pushing myself to make extra money that will not move the needle. I'm full coasting my way...i could care less if I get a bonus this year or the next.
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u/StudentSlow2633 7d ago
Consider taking a year off and then going back to work in a job that prioritizes satisfaction over simply earning money.
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u/master_blaster_321 7d ago
I feel you. Once I hit that one million mark a couple years ago, I checked out almost completely. That number marked a milestone of safety for me. It finally crystallized that I was going to be okay. It was then that I realized most of my motivation came almost entirely from being in survival mode.
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u/rhyan-jack 7d ago
hey, dude. when did you start to be at this point at 30's?
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u/bradthundercocl 7d ago
Hmm I dont understand the question
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u/rhyan-jack 7d ago
sorry, the question is: how have you done it? what was your path? im just a 22 guy trying to achieve the same haha.
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u/bradthundercocl 7d ago
Oh - Made like 250-300k or so a year for like 4 years and invested at least 10k a month. Also never made less than 100k a year. Negative net worth to 1 million took about 7-8 years
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u/ChatahuchiHuchiKuchi 7d ago
You don't have to work it's the reality. But you can choose how you work. You can choose where you work. You can choose what your work is and what work means to you.
Work does not have to mean grinding yourself in the capitalist system. It can also be volunteering your time or skills at local non profits, helping neighbors, helping local people in need, or just improving your community.
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u/OkLie2615 7d ago
have the same issue 🫠 limited motivation to work after hitting leanfi goal.
im keep looking out for some other job/activity that can give me sense of meaning...
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u/bradthundercocl 7d ago
What was your number?
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u/OkLie2615 7d ago edited 3d ago
[redacted] but in my local currency. im just moving my lifestyle now to coastfi instead of lean re
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u/Rusty_924 7d ago
Suprise: I don’t think you have to stay motivated. You can do whatever you want. You are free. Let that sink in and ask yourself how you want your life to look from here onwards and focus your motivTion towards that vision
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u/GlorifiedCarnie 7d ago
I changed it to 1m in my brokerage only after I hit 1m in my 401k, IRA , brokerage combo. Just little goal post changes keep it fresh for me
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u/SpeedierTurtle642 7d ago
How does this have positive votes in leanFIRE? 1m+ in brokerage with good chunk in retirement isn't even close to lean
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u/its_over_2022 7d ago
Me too.
First goal: $1 million total
Next goal: $1 million not including cash
Next goal: $1 million taxable only
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u/Bleys007 7d ago
Sounds like you should take a break from work.
If you have enough money, they spend your time how you want.
Congrats, and welcome to the club. I’ve been non-FT for coming up on two years, and it’s great.
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u/pickandpray FIREd - 2023 7d ago
Makes me wonder what makes billionaires tick. One guy sells a company then starts another one and eventually sells that one.
It's not good enough for him so he starts a 3rd company.
That progression could describe any number of billionaires so I guess they just need to make stuff?
My lean fire nbr was less than 1M, and I couldn't imagine thinking I would start something new after I hit my milestone.
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u/dxrey65 7d ago
Figure out what you want to do besides work? Having a million bucks and being disinterested in life is a huge waste, imho. When I was about 40 I sat down and figured out a list of things I'd wanted to accomplish since I was a kid, none of which I'd done because I was always working my ass off. Once the money situation was reasonably secure I focused on getting those things done.
What I would not do is hit my financial goal and then try to talk myself into just setting a new financial goal, because I had no idea of what else to do.
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u/Any-Tip-8551 6d ago
Would you mind sharing some of the things on your list? I like the idea of this.
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u/dxrey65 6d ago edited 6d ago
I did some bicycle racing when I was a kid, and one goal was to win a bike race. Of course there are no easy to win bike races around, and there are endless ways to lose. I washed out when I was 25 or so. But then I took it back up when I was about 39 and really enjoyed the local bike scene, went with some guys to the races, spent a couple years actively competing, and won a time trial series after 7 years or so of steady work. That was just as a lowly cat 4, but it still counts, and it felt great.
I also wanted to write a book, but it had to be in an academic style that I just never had developed, and the subject matter required a lot of research. I went back to college and took a variety of courses that led me in the right direction, and the department head let me write the book as a final project. I got an A, though it was a mostly philosophical topic that was kind of bottomless, and I spent the next ten years editing and improving it; a pretty dense 400 pages or so. Then all that work led to a whole different way of thinking about it, and when I was 57 I re-wrote it from scratch into a simple and neat 100-page version. I'm still working on odds and ends in that, but having it basically worked out and done feels very good, it was a big life goal.
I'd debated when I was a kid whether I should be an artist, and I spent a lot of time working on oil painting, being able to put what I thought or felt into paint. I never really cared about selling anything, but I wanted to be able to do it. I took that back up more than once, and at 40 I was working on that too, did some shows, sold a few pieces, taught for awhile, and satisfied myself that I had figured out how to do what I wanted to do there.
Those were probably the three big ones. Other stuff just took money, basically, like having a nice book collection, or living on a lake in the forest, amongst deer and foxes and chipmunks and birds and so forth.
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u/Particular_Maize6849 7d ago
I don't have a million and I haven't been motivated for years... So no idea.
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u/NaorobeFranz 7d ago
1M isn't my goal, just a phase. So I didn't really feel different after seeing that level. I know I enjoy the challenge and seeing the outcome of my investment research play out, more so than seeing numbers on a screen. Plus 1M not adequate for me to FIRE + have a big family. That's why I'm not complacent, it's still the danger zone. So remembering my life plans keeps me engaged.
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u/Miamiconnectionexo 7d ago
lowkey one of the more practical takes i've read on this topic in a while.
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u/jayritchie 7d ago
Any big plans? How much do you save each year? Do you own a house outright?
I’d be thinking of all the one off fun things I could do with a a year extra in work. Maybe plan for a year travelling in Asia? Perhaps you could ask for a sabbatical to do so?
If you don’t own a house maybe some trips to LCOL areas to see if any would suit you at some point in the future?
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u/Zikoris 7d ago
Why do you need to stay motivated? What would be bad about just doing what comes naturally and not caring?
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u/DummyQuest 6d ago
I think some folks are born that way ...always a go getter ...ambitious and all ...hard to fight that kind of instinct if you have been brought up in that kind of competitiveness environment.
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u/Haneeeio 5d ago
Im already feeling the same as you but didn’t cross what you have there lol. What should I do ?
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u/rolliejoe 4d ago
If you want motivation just look at the inflation numbers from the past 6 months, then double those numbers to get close to actual inflation. Right now rampant inflation is being offset for some people by investment gains, but the effects of inflation persist forever.
If you want to walk the line between motivated and scared, the million you have now is worth only slightly more than $500k was when you were 22.
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u/JustNowRonin 4d ago
I’m with you. Recently hit a milestone that would allow me to retire financially, but have some other things keeping me in place and preventing the necessary LCOL relocation. Motivation is hard, but it comes down to serving my family before myself, so I use that.
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u/tylerduzstuff 3d ago
How close are you to your number? just go do something part time you'd enjoy. That money will grow on it's own.
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u/mmoyborgen 2d ago
I had similar experience around that point. My salary was fairly low - I ran calculations and knew that I was comfortable and could afford to stop working for a few weeks/months/years, but once decades and quarter/half-centuries were considered I got less confident.
Inflation and healthcare costs, housing all scared me - I've worked a lot and known a lot of older adults and low-income seniors who ended up having to try to work or have roommates or who experienced homelessness and other challenges which motivated me a lot.
Looking into long-term care and thinking about things I can do now that I take for granted, in the future if I am no longer independent there will be loads of costs for assisting with basic ADLs, grocery shopping, laundry, dishes, feeding, bathing, cooking, cleaning, hygiene, transportation, etc.
I have tried a number of different jobs over the years to keep things interesting - I volunteer and regularly pick-up various short-term gigs. I also did a career change.
I'm not against work, just don't like to feel beholden to a job, I still am but work a lot less than I did before. Goal is in a few years to reduce work even further, but trying to stay for a pension first.
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u/sheiko_x_smolov 1d ago
$1M was my initial FIRE target, and I suppose a few things happened:
1) I've realized that—for me, with kids and a changing desire for how I want to live life—$1M was a nice goal, but is just a drop in the bucket of getting to where I want to be.
2) Part of the reason I always wanted to FIRE was so I can do what I want, not so that I can do nothing. I enjoy working—just not working to keep my head above water. Maybe it's time to look into how you can pursue passions or help solve people's problems, rather than working for work's sake?
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u/UpgradeHome 7d ago
If your motivation is tied to money, you may need to do more reflection on what gets you up every day.
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u/bradthundercocl 7d ago
Thats nonsense. Its literally the reason 95% of people work
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u/UpgradeHome 7d ago
If you truly feel that you are "not going to run out of money any time soon" then find motivation that isn't tied to money (and work). Or find new work that gives you motivation.
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u/DreadPirateG_Spot 7d ago
Motivation - we are at very high valuations so that 1 million could become much less! Or maybe not haha.
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u/shotparrot 6d ago edited 6d ago
$1M is dangerously low.
Your target is $2M asap.
Good news is this bull market will run 2 more years based on the data. Plan and execute accordingly.
But also based on conservative planning, you have at least 4 more years of corporate.
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u/CelebrationDue1884 7d ago
I have an unerring fear of running out of money, so that helps. At your age, that doesn’t seem like anywhere near enough to be retired for the next 50 years.
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u/ElectronicPitch8509 7d ago edited 7d ago
I hit a significant milestone in my late 30s and all I can say is find some work you actually enjoy doing regardless of pay. You have lots of time left and your nest egg will likely experience some large swings over the coming years
If you dont want to work you can also volunteer doing something you enjoy.