What % of pop is trying to retire early/be financially independent
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In my personal view, it's probable that too many people are trying to retire early. Much of this may simply be fall out from having made unfortunate career choices to start out with. In that case, "the grind" can come to make retirement seem like some sort of secular nirvana waiting at the horizon. Swing low, sweet chariot, coming for to carry me home. In other cases, it seems like yet another crude form of keeping up with the Joneses. So-and-so says he is planning to pay off his mortgage and retire early, so that's what I'll try to do as well. In the real world, such plans too often make about about as much sense as a kid wanting to be a cowboy or a fireman when he grows up.
Retirement is a major life event, not a trip to Disney World.
In my personal view, it's probable that too many people are trying to retire early. Much of this may simply be fall out from having made unfortunate career choices to start out with. In that case, "the grind" can come to make retirement seem like some sort of secular nirvana waiting at the horizon. Swing low, sweet chariot, coming for to carry me home. In other cases, it seems like yet another crude form of keeping up with the Joneses. So-and-so says he is planning to pay off his mortgage and retire early, so that's what I'll try to do as well. In the real world, such plans too often make about about as much sense as a kid wanting to be a cowboy or a fireman when he grows up.
Retirement is a major life event, not a trip to Disney World.
I think the bolded is accurate. That's why I say I am aiming for FI. I actually enjoy my work and am very well compensated for it. The work is engaging and forces me to learn new things every day. I've taught myself Python and Natural Language Processing in the past year and I'd never touched it before. I found out I actually enjoy programming on the machine learning side To add to that I am valued at my work too, I am considered a Hi-Po, which is something that I think is important in a job as well. Enjoying what you do and being valued as an employee. But, I want to pursue the FI part so if something about my situation changes (new leadership comes in and makes significant changes, etc.) I am not stuck in this job or this role, instead I can just quit. That's what I am drawn to in the FI(RE) space. I've only been working full-time for 5 years and we are already at a point that we could easily live off of my wife's income and she makes 1/3rd of what I do. In another 3-4 years we will probably be able to lean fire on 30ish k a year if we needed to. That's the part I'm after. I don't have a crazy need to actually retire at this point, just the security of knowing if I start to not like my job or if I have a change and I want to spend more time with my kids I have that option.
In my personal view, it's probable that too many people are trying to retire early. Much of this may simply be fall out from having made unfortunate career choices to start out with. In that case, "the grind" can come to make retirement seem like some sort of secular nirvana waiting at the horizon. Swing low, sweet chariot, coming for to carry me home. In other cases, it seems like yet another crude form of keeping up with the Joneses. So-and-so says he is planning to pay off his mortgage and retire early, so that's what I'll try to do as well. In the real world, such plans too often make about about as much sense as a kid wanting to be a cowboy or a fireman when he grows up.
Retirement is a major life event, not a trip to Disney World.
Haha... this has to be the funniest response on here... are you seriously trying to position that people should NOT strive to retire early? And that those that aim for FIRE are making (or have made) poor life choices!?
If I could get my family and friends to spend less, pay off their mortgages, eliminate other debt, free themselves from work obligations, and live life on their own terms, I would be ecstatic... but in your "personal view," I sound like a psycho!
Well strap on the straight jacket because all I see are visions of mortgage-free families frolicking through the Magic Kingdom and Epcot!
Yeah nothing bad can come from embracing the principles of FI pursuit, even if you fail it should have positive effects on spending, saving, debt, etc.
I am going to approach my FI number in under 10 years but it's going to be very boring to do so and I don't want to become a NEET in terms of behavior and lifestyle.
We aimed for FI because both of us knew that our jobs would be at risk upon reaching our 50's/60's. We were fortunate to reach FI when I turned 50 as my job was literally making me ill. DH hadn't been given a job in three years (he worked in a union.) We had a bit more than 25X our expenses, so we threw in the towel.
If we hadn't been FI, I don't know what I would have done. The company I was working for has now closed its doors so I would have been in my mid-50's and unemployed. Not a good place to be. DH may have been sent back to work or may have spent more years sitting at home waiting for a call. Things for us worked out OK, but only because we had saved all our working lives and prepared for a possible "oops" in our lives.
I’m thinking 75% of the working population wants to retire early, but only 15% have the discipline to delay gratification.
What percent of the posters here actually retired before 50? Not many.
I've got another 9+ years before I turn 50. If the next decade is similar to the previous one we should hit an FI number. Not that we are planning on RE or even have a FI number. It's just that our assets would be around $3mm and that's at, or near enough (on a frugal lifestyle) for FI even for my HCOL city.
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To add to that I am valued at my work too, I am considered a Hi-Po, which is something that I think is important in a job as well. Enjoying what you do and being valued as an employee. But, I want to pursue the FI part so if something about my situation changes (new leadership comes in and makes significant changes, etc.) I am not stuck in this job or this role, instead I can just quit. That's what I am drawn to in the FI(RE) space. I've only been working full-time for 5 years and we are already at a point that we could easily live off of my wife's income and she makes 1/3rd of what I do. In another 3-4 years we will probably be able to lean fire on 30ish k a year if we needed to. That's the part I'm after. I don't have a crazy need to actually retire at this point, just the security of knowing if I start to not like my job or if I have a change and I want to spend more time with my kids I have that option.
