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Old 12-05-2018, 11:08 AM
 
Location: Portal to the Pacific
5,138 posts, read 5,090,517 times
Reputation: 6343

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Quote:
Originally Posted by BigCityDreamer View Post
People in their 40s typically live in a house with mortgage payments and have kids who are teenagers or going to college already. Parents may have to pay for their kids' weddings as well. There are all kinds of financial obligations which come with that. You could get laid off from your job. Then of course, there's the issue of health insurance.

Retiring in your 40s is much easier said than done.
Yes to this. Both of us will be in our 40's soon and it's an entirely different landscape than being in our 30's with young children. Everyone knows I'm pretty frugal, but both our kids now have their own phones that we pay for... it's just WAY easier to keep up with them and their lives which are slowly, but surely detaching from ours. One of them has fallen in love with soccer and I'm starting to pay for that and the other one is beginning to think about his career aspirations. I think an engineering degree might be part of them. College is less than four years away for him. And now he's talking about driver's ed and having a car and just, grown up stuff in general. Now is really the time to put money into the kids. Definitely more now than when they were little. They now know when I'm being cheap and they call it out and then we stand there and negotiate expectations. But even I know a line in the sand when I see one. I'm not going to deny them joy and advancement (just maybe store-bought clothes and endless supply of carbonated drinks).

I definitively believe that teenage/emerging adult children are the greatest threat to FIRE efforts outside of divorce, job loss or a health crisis.

But totally worth it of course
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Old 12-05-2018, 12:47 PM
 
Location: Tennessee
23,572 posts, read 17,544,804 times
Reputation: 27640
Quote:
Originally Posted by mizzourah2006 View Post
It's extremely popular in Canada too. I think part of it and it's played out by the OP is that most of the very early retirees are in tech. Tech doesn't pay anything close to what it pays here in Europe and Australia. I'm in data science and when you go to DS forums you hear US people saying "those seem like reasonable average salaries, especially if you factor in your Bay area's, etc." Then you hear people from Europe saying average pay for that profession is 1/3rd that. I think DS is an extreme example, but I do think tech makes far more over here than in Europe in general. Given most of the people we read about are coming out of high paying tech jobs that might explain part of it.
And a good portion of those folks are probably deriving their working income from stock options and things outside of a traditional salary.
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Old 12-06-2018, 06:11 AM
 
Location: On the road
5,926 posts, read 2,887,264 times
Reputation: 11341
Quote:
Originally Posted by mizzourah2006 View Post
Tech doesn't pay anything close to what it pays here in Europe and Australia. I'm in data science and when you go to DS forums you hear US people saying "those seem like reasonable average salaries, especially if you factor in your Bay area's, etc." Then you hear people from Europe saying average pay for that profession is 1/3rd that.
Can confirm. We were working in France on a project and after much drinks got to comparing salaries (all software devs) and those cats really do make 1/2-1/3 of USA pay, it isn't a six figure gig like here. Got awkward after that.
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Old 12-06-2018, 07:42 AM
 
5,276 posts, read 3,313,639 times
Reputation: 6439
Quote:
Originally Posted by lieqiang View Post
Can confirm. We were working in France on a project and after much drinks got to comparing salaries (all software devs) and those cats really do make 1/2-1/3 of USA pay, it isn't a six figure gig like here. Got awkward after that.
But don't the French have that 32 hour work week, unlike the 50-60-70 hour work week of the software developer here in the US, maybe that explains the pay disparity!
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Old 12-06-2018, 07:51 AM
 
Location: In the outlet by the lightswitch
1,767 posts, read 1,035,627 times
Reputation: 3227
I am still reading though this thread but I don't think I would like to be FIRE. The FI, yes (and I am working towards that, although I don't make the money some of these FIRE folks do, so it's slower going).



But the RE part... I am not even sure I want to retire until I absolutely have to for medical reasons/physical reasons. I'd like to work as long as I can. I've been unemployed for stretches at a time and while I had money to support myself, and while it was nice at first being "fee" after a few weeks, I got really bored. I not only wanted a job for money again, but to have a purpose/something to do. Hobbies, reading, and volunteering only take up so much time. I kept sleeping my life away (when not job hunting) while unemployed. Plus, I noticed quite a few of the people I know (from work who retired and people in my neighborhood) get mentally softer when they retire. It's like they get slower and start aging rapidly. Not everyone, but it seems like most.



I think it would be much better to just be FI and keep working as long as you are able. You get extra income, something to do with your day, but since you are FI you are secure so you aren't stressed about losing your job for any reason. And if you are FI but still working you can afford a little luxury, you don't have to "live like a monk." But that's just my take on it.

Last edited by TMBGBlueCanary; 12-06-2018 at 08:00 AM..
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Old 12-06-2018, 08:28 AM
 
Location: Omaha, Nebraska
7,311 posts, read 4,151,370 times
Reputation: 18284
Quote:
Originally Posted by TMBGBlueCanary View Post
I think it would be much better to just be FI and keep working as long as you are able. You get extra income, something to do with your day, but since you are FI you are secure so you aren't stressed about losing your job for any reason. And if you are FI but still working you can afford a little luxury, you don't have to "live like a monk." But that's just my take on it.
I wish instead of FIRE we'd write either FIre or FI (RE). Everyone focuses on the "retire early" part of the standard FIRE acronym, but it's the financial independence part that's really the goal. Retiring early is completely optional!

Unfortunately "achieve financial independence, then reevaluate your career options" doesn't make for a catchy acronym, even though it's a more accurate expression of what most people in the FIRE community actually end up doing.
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Old 12-06-2018, 10:38 AM
 
15,530 posts, read 13,519,456 times
Reputation: 21236
Quote:
Originally Posted by TMBGBlueCanary View Post
I am still reading though this thread but I don't think I would like to be FIRE. The FI, yes (and I am working towards that, although I don't make the money some of these FIRE folks do, so it's slower going).



But the RE part... I am not even sure I want to retire until I absolutely have to for medical reasons/physical reasons. I'd like to work as long as I can. I've been unemployed for stretches at a time and while I had money to support myself, and while it was nice at first being "fee" after a few weeks, I got really bored. I not only wanted a job for money again, but to have a purpose/something to do. Hobbies, reading, and volunteering only take up so much time. I kept sleeping my life away (when not job hunting) while unemployed. Plus, I noticed quite a few of the people I know (from work who retired and people in my neighborhood) get mentally softer when they retire. It's like they get slower and start aging rapidly. Not everyone, but it seems like most.



I think it would be much better to just be FI and keep working as long as you are able. You get extra income, something to do with your day, but since you are FI you are secure so you aren't stressed about losing your job for any reason. And if you are FI but still working you can afford a little luxury, you don't have to "live like a monk." But that's just my take on it.
That is pretty damn sad that you really, out of everything available in this world, cannot find anything to do besides work.

I and everyone I know is opposite, work gets in the way of doing the things I enjoy.
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Old 12-06-2018, 11:15 AM
 
Location: In the outlet by the lightswitch
1,767 posts, read 1,035,627 times
Reputation: 3227
Quote:
Originally Posted by boxus View Post
That is pretty damn sad that you really, out of everything available in this world, cannot find anything to do besides work.

I and everyone I know is opposite, work gets in the way of doing the things I enjoy.

Maybe it's sad. I like my job. I work at a non-profit and I find it fulfilling. My hobbies, as much as I enjoy them, just don't take days and days to do (or would bankrupt me if I did them endlessly). I've traveled a bit, but I really don't care for it since I end up doing it alone. I rather visit family and be with people I love, but they work and so when I visit, I am often by myself until they come home. I get together with friends on the weekend only, because they work. I volunteer, but the places I volunteer at have weekend volunteer hours or very limited weekday hours if they have them.



Like I said, Twice in my life I've been laid off, spent a few months not working. I just ran out of stuff to fill my days and I ended up sleeping in a lot. Even with working I have plenty of time to spare and do what I want and I am pretty happy in life. I just don't see the appeal of rushing out of the workforce for me.
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Old 12-06-2018, 11:20 AM
 
10,058 posts, read 4,654,843 times
Reputation: 15286
Quote:
Originally Posted by boxus View Post
That is pretty damn sad that you really, out of everything available in this world, cannot find anything to do besides work.

I and everyone I know is opposite, work gets in the way of doing the things I enjoy.
If you enjoy it, make it your work and get paid
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Old 12-06-2018, 11:56 AM
 
26,085 posts, read 28,484,501 times
Reputation: 24797
Quote:
Originally Posted by TMBGBlueCanary View Post
I am still reading though this thread but I don't think I would like to be FIRE. The FI, yes (and I am working towards that, although I don't make the money some of these FIRE folks do, so it's slower going).
One blogger suggested the acronym should be changed to FIOR for Financial Independence, Optional Retirement.
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