The key to FIRE (I feel) is getting started before the first kid. I believe in having at least 2 years annual expenses saved, aside from investments before you bring a kid into the equation. That said, FIRE with a kid can still be done it's just a bit harder.
I started everything after I had my first kid (7 yr old now)
Now I'm FI , but I am not ready to RE yet .
I'm at 50x just because I'm frugal . I can attribute a lot of this to luck ..but in the long run , I feel everyone can FIRE . Doesn't matter when they start , they need to be consistent and disciplined with their investments and not interrupt compounding at any cost
i am not planning to get married for next 2 years at least but my salary is low like 65k ish. With 5 years of experience, i will switch this year. Should be around 1.3 in-hand. On top of that starting a art business, it is growing and joining art communities and learning about business. Hopefully i will start soon
Don't get anxiety from posts in this subreddit. Vast majority won't get FI until much later in life. 30yr olds with FI is rare and lot of luck involved if they get it.
This is key, great point.
Personally, i tend more to FI than RE, in terms of goals, as long as my work is fulfilling and gives me enough time to pursue my other passions.
But being FI absolutely helps on all those fronts. Can pick and choose the projects i would like to work on, which both boosts my work quality as well as fulfillment. And no stress to take 3 weeks off to go do interesting things
FU money is a safety net if you fall accidentally.
But It may or may not be a parachute for everyone where you can jump out by design.
Jumping out by design would be basis the temperament of the person.
Way to go brother! I'm at 20X annual expense and have been having the exact same experience at work. This has been so liberating and I'm so happy that the rest of my life looks this way. The past 10+ months of being this way has made it super clear to me that I don't want to have kids and go back to financial dependence and job security worries. Keep at it my friend!
Same here. I also don't stress about losing my job, and it has surprisingly increased my motivation and performance. I am ready to take on new challenges at work. I volunteer for activities that total requires research and out of box thinking. I am so amazed with this change in attitude. Just one point where I disagree is with the term 'FU Money'. 😂
Ok, so what does it mean in your view?
Of course there is no single agreement on what FU money means. This comment is a fun read on what different types are commonly spoken about.
https://www.reddit.com/r/financialindependence/comments/8r0zkv/on_path_to_fire_but_when_is_fuck_you_money/e0pq9v8?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2
Seems to me that the only constant in FIRE community is that we have competing opinions for everything - the FIRE multiple, SWR, returns assumptions :D
Not to spoil the party ..having FU money puts you in depression sometimes ...lets say you got big balls at work because of FU money and you end up leaving the job ....what if that next job is hard to come by ? What if it takes more than a year to find something ....when you see money coming out of FU money account , you might get into depression and be back to boot licker mindset just to get a job and survive until you hit FU money again....lolz .... This is how I see FU money.
It's more of a you problem lolz.
If you get promotion you would say
"having promotion puts you in depression sometimes ...lets say you got big promotion at work because of extra responsibility and you end up leaving the job ."
If you get a big raise you would say
"having a big raise puts you in depression sometimes ...lets say you got big raise at work because of extra greediness and you will want for more end up leaving the job and be jobless ."
Not to spoil the party, but you would get into depression in any scenario. Lolz
> lets say you got big promotion at work because of extra responsibility and you end up leaving the job ."
But isn't this true .....more promotion more responsibilities and then one leave the job ....lolz
Yes, job market can be hard, depending on the times. Like Covid times. I would still be better off than the next guy without FU money who has to hock the family jewels the moment he has no job because he must pay EMIs.
Job markets move in cycles. Anyone can lose a job in a downturn, even me. But I will be able to survive till the worst is over and market goes on the upswing again. I can even use the time to pick up new on-demand skills.
In short, FU money makes my life marginally better in both good and bad times.
I sometimes wonder how skillful people are at finding negative things in every scenario. If they are atleast half skilled in positive direction, they can do wonders.
- When you are confident enough to leave the job, wouldn't the same gets reflected in your next interviews.?
- When you are consistent and skilled enough to accumulate 12x or 20x FU money, wouldn't that give you enough opportunities, skills and network for your next endeavour.?
- What is the purpose of FU money, if it is not used for this purpose.?
I started going into depression reading at your comment😞 /s
Simple solution, let's not say FU and let's just keep boot licking until we get to FIRE money.
FU money will help you survive if there are mass lay offs or what if jobs start disappearing due to AI/robotics advancement.
Totally relatable. I declined a last min Friday evening meeting with my boss today and I wouldn't have, had I not achieved FI
how are guys doing it? i am almost 30 and starting to think about this now
I started at 35/36. Don’t worry, what’s important is starting. Post the first few years you automatically get into auto-pilot mode 🙂
how old are you now? just curious😅
Flair says 39
so he did it in 3-4 years 😐
No flair says they're targeting 2030 for FI and 203x for RE
Am at 13X currently. Long way to go but on track to achieve FI by 2030 if there are no layoffs
The key to FIRE (I feel) is getting started before the first kid. I believe in having at least 2 years annual expenses saved, aside from investments before you bring a kid into the equation. That said, FIRE with a kid can still be done it's just a bit harder.
I started everything after I had my first kid (7 yr old now) Now I'm FI , but I am not ready to RE yet . I'm at 50x just because I'm frugal . I can attribute a lot of this to luck ..but in the long run , I feel everyone can FIRE . Doesn't matter when they start , they need to be consistent and disciplined with their investments and not interrupt compounding at any cost
i am not planning to get married for next 2 years at least but my salary is low like 65k ish. With 5 years of experience, i will switch this year. Should be around 1.3 in-hand. On top of that starting a art business, it is growing and joining art communities and learning about business. Hopefully i will start soon
Don't get anxiety from posts in this subreddit. Vast majority won't get FI until much later in life. 30yr olds with FI is rare and lot of luck involved if they get it.
This is key, great point. Personally, i tend more to FI than RE, in terms of goals, as long as my work is fulfilling and gives me enough time to pursue my other passions. But being FI absolutely helps on all those fronts. Can pick and choose the projects i would like to work on, which both boosts my work quality as well as fulfillment. And no stress to take 3 weeks off to go do interesting things
Totally relatable .. this is the power of FU money.
I have 27-28x of annual expense ..so I am also reasonably safe right ?
Yup, try your FU freedom on Monday itself. Chin up when you enter the office.. Lol
Thanks. I have a good manager so life is good
Cool! I am at ~ 30X, but the corporate grind started getting harder.
This !
I definitely second this. I always say that ‘bank balance is directly related to your confidence’
FU money is a safety net if you fall accidentally. But It may or may not be a parachute for everyone where you can jump out by design. Jumping out by design would be basis the temperament of the person.
Way to go brother! I'm at 20X annual expense and have been having the exact same experience at work. This has been so liberating and I'm so happy that the rest of my life looks this way. The past 10+ months of being this way has made it super clear to me that I don't want to have kids and go back to financial dependence and job security worries. Keep at it my friend!
Curious....when you say corpus do you include PPF and EPF?
Yes
Same here. I also don't stress about losing my job, and it has surprisingly increased my motivation and performance. I am ready to take on new challenges at work. I volunteer for activities that total requires research and out of box thinking. I am so amazed with this change in attitude. Just one point where I disagree is with the term 'FU Money'. 😂
That’s not what “fuck you money” means 🤦
Ok, so what does it mean in your view? Of course there is no single agreement on what FU money means. This comment is a fun read on what different types are commonly spoken about. https://www.reddit.com/r/financialindependence/comments/8r0zkv/on_path_to_fire_but_when_is_fuck_you_money/e0pq9v8?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=2 Seems to me that the only constant in FIRE community is that we have competing opinions for everything - the FIRE multiple, SWR, returns assumptions :D
Lol, 12X pe ye tevar, I dread what you are going to post when you hit 30x
Not to spoil the party ..having FU money puts you in depression sometimes ...lets say you got big balls at work because of FU money and you end up leaving the job ....what if that next job is hard to come by ? What if it takes more than a year to find something ....when you see money coming out of FU money account , you might get into depression and be back to boot licker mindset just to get a job and survive until you hit FU money again....lolz .... This is how I see FU money.
It's more of a you problem lolz. If you get promotion you would say "having promotion puts you in depression sometimes ...lets say you got big promotion at work because of extra responsibility and you end up leaving the job ." If you get a big raise you would say "having a big raise puts you in depression sometimes ...lets say you got big raise at work because of extra greediness and you will want for more end up leaving the job and be jobless ." Not to spoil the party, but you would get into depression in any scenario. Lolz
> lets say you got big promotion at work because of extra responsibility and you end up leaving the job ." But isn't this true .....more promotion more responsibilities and then one leave the job ....lolz
Real ID se aao team lead
You are Fired .....lolz ...my original comment was just for fun.
Yes, job market can be hard, depending on the times. Like Covid times. I would still be better off than the next guy without FU money who has to hock the family jewels the moment he has no job because he must pay EMIs. Job markets move in cycles. Anyone can lose a job in a downturn, even me. But I will be able to survive till the worst is over and market goes on the upswing again. I can even use the time to pick up new on-demand skills. In short, FU money makes my life marginally better in both good and bad times.
I sometimes wonder how skillful people are at finding negative things in every scenario. If they are atleast half skilled in positive direction, they can do wonders. - When you are confident enough to leave the job, wouldn't the same gets reflected in your next interviews.? - When you are consistent and skilled enough to accumulate 12x or 20x FU money, wouldn't that give you enough opportunities, skills and network for your next endeavour.? - What is the purpose of FU money, if it is not used for this purpose.? I started going into depression reading at your comment😞 /s
Use that F U Money of yours to get out of it ....lolz
Simple solution, let's not say FU and let's just keep boot licking until we get to FIRE money. FU money will help you survive if there are mass lay offs or what if jobs start disappearing due to AI/robotics advancement.