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Started by deific, October 29, 2018, 09:43:56 AM
Quote from: Hayden on October 29, 2018, 11:17:39 AMHi deific,I think that it all depends on what you want in life. Retiring early can mean different things to different people. Most younger people tend to think of retiring early as just being financially free to wake up and do whatever YOU want to do that day. It does not mean that they stop working all together.Once you hit your pinnacle point (you can live off your assets) then you are free to venture and do whatever you want in terms of career change, traveling, volunteering, or investing more into your side hustle. Sometimes people tend to make more money after they hit their pinnacle point than before.Some people are very satisfied living a low lifestyle where the cost of living is quite low. While others may want to live a more sumptuous lifestyle. It all depends on your goals and strategy.
Quote from: Money Ronin on October 30, 2018, 06:01:26 PMWhen you were single, you had mostly single friends. When you got married, same thing happened. When you had kids, ditto. There is a societal norm in terms of progression of one's life. Early retirement makes you an anomaly (no matter how well you hide your financial status) and you lose some connection with your old social network. It's as if I've moved on to the next stage, and I'm waiting for everyone to join me.
Quote from: deific on October 29, 2018, 09:43:56 AMSeems that the trend today is retiring early, like super early once you reach your financial independence. Am I only one that doesn't really want this? Essentially, I want to retire once my kids are out of school, even if I have achieved financial independence well before that. I am 38 now, by 50-55 I'd like to be done. I have 3 kids that I'd like to put through college, but also I like not living like a homeless person (ie. I want to enjoy having a nice car, home, vacations). Am I the only one??
Quote from: Sam on November 07, 2018, 08:10:35 AMYou are not the only one. FIRE is just on max trend FOMO right now.If I had 3 kids and a job I did not hate, I would probably want to work until they are out of college too. Kids are expensive, and the security of a stable job with stable benefits cannot be underestimated. But if I had 3 kids, I may start RESENTING my job before they get out of college if I get back stabbed, passed over for a promotion, didn't get a raise I wanted etc. Lots of stuff happens at work over time, and most aren't lucky to have smooth sailing. Finally, going to work is like going on vacation compared to being a full-time dad. Much easier to raise kids if you don't have to! Related: https://www.financialsamurai.com/thinking-about-taking-a-vacation-by-going-back-to-full-time-work/Sam