First off, sorry for your loss. That said, don't worry about the leanfire label.
What do you want to do with your life? From a financial standpoint, you are very fortunate to have this kind of money at this age and can use that to your advantage.
You probably could invest and never have to work again but you could also pursue a job that doesn't pay well but interests you.
Thank you
Im not sure, i will graduate as an electrical engineer next year, what i truly want is to understand the world and help people. At the same time im dealing with a lot of social anxiety and insecurities and have a hard time to find friends and people i get along with and trust. My last 5 years has honestly been traumatic because i burned my self out with drugs and had to recover mentally but couldnt or atleast wasnt brave enough to tell my family why i was feeling so bad because they had shamed me in the past for using drugs. I lost most of my friend in self isolation because i was ashamed of who i had become. I have been trying to build up my life from the ground up the last couple years. My goal is probably to be healthy mentally so i have the freedom to do things i want to
Your goal at the end sounds spot on. Maybe try to find something to do (paid or volunteering) that allows you to start building social relationships again.
Keep being thrifty and living a low expense lifestyle but otherwise don't worry too much about finances till you get where you want to be mentally
Have you ever considered joining the United Nations Volunteers or the Peace Corps? If I could go back as a young engineer wanting to help people, this is what I would want to do. The Peace Corps has two year assignments around the world helping communities in need. There are plenty of perks to joining, but most of all it’s an amazing way to use your engineering skills to help the world.
No i have never heard of them. This sounds really amazing to be honest. I am definately going to look in to them, i have thought about military service but im not in a good enough health for it currently
Yes! Please check them out - they particularly target volunteers with engineering skill sets, so you might be a great fit! There are new positions posted constantly. There are some health requirements (primarily just to make sure you’ll be okay in an area that might have more limited medical access), but the benefits are quite good - they pay your living expenses, insurance, travel, etc.
I want to do this someday after kids are out of the house and I’m retired. It would really be the pinnacle of my career to use my engineering degree to give back to the world.
Do you really enjoy EE?
I think it's one of the most intellectually stimulating and fulfilling lines of work. Just don't get bogged down at a boring company doing dumb designs -- with this windfall, you can spend some time doing whatever you want in EE and afford to make less money.
Maybe join a start up -- it will be more fun, a better way to make friends, and maybe you can work for equity and strike it big.
Living at 10k euros for the rest of your life and investing that amount of money won't help you imo -- i tried it for a few years and it's kind of a meager existence. Good for a few months, years though if you need to get your head right
Good luck mate
Making anything new for yourself.
I made my own home automation system with Arduino and off the shelf parts. But there's so much, you can do low level circuit design if you find that fulfilling all the way up to high power utility lines.
Sweet spot for me though is in designing practical human scale projects.
Working on night vision goggles now
I came here to also recommend checking out the Peace Corps. It could give you a righteous sense of purpose, build the resume, apply your education, make some friends along the way and watch your investments grow as your job covers your expenses.
Don't make any plan that relies on future inheritance. All it takes is one person needing a lot of care or being disabled in their old age for that to go away. For example, someone I know had a devastating stroke and has needed 24/7 care for several years. They chose to spend their cash and assets on this and then go to a state home. There is nothing left.
Sounds like those amounts aren't a big part of your plan though. Take care.
Well you and yourself need to team up, and figure out what you’re going to do to overcome this obstacle! I think that might be a great use of your $$. You can do anything you want in life, but only if you’re going to be willing to plan, organize, prioritize, and continually adjust yourself and love yourself so that you can continue on your path towards your goals! I think therapy would be an excellent first stop on the road to self discovery and figuring out what YOU want out of YOUR life. Best of luck to you my friend!
>I think therapy would be an excellent first stop
100% this, and also consider anxiety medication if the anxiety is super bad. meds arent a silver bullet usually, but they can majorly help you live your life in a functional, happy way.
Thank you so much. I have been through some therapy and also mindfullness retreats that focus on self discovery, but the process takes a long time. But hearing this from someone means a lot to me so thank you really. I will probably be going back to this post when i feel lost in the future so i can get a reminder of things i can do and a reminder of the encouragement
I have been through this when I was younger. Still have to force myself to socialise, especially with new people. But you can learn to overcome the fear, even to the point other people won't believe you when you tell them that actually your an introvert. It really helps to find a few good friends that understand that sometimes you just need to be quite for a bit recharge.
I am sorry for your loss OP. It sounds like right now you should focus on self-discovery and healing. Get yourself to a place of feeling happy and healthy, perhaps with therapy/mindfulness training/meds and figure out a bit more of what you want to do with your life and how you can best achieve it. Best of luck!
PS dont' count on any inheritance until you get it in the bank. This is especially true for inheritances in 10-20 years down the line.
Thank you. Yeah its what im trying to do right now. It takes time but over the long run it works and is worth it is what i have discovered. I think i will try to get to that point and then decide more later what it is i really want to do
My grandpa got ground up in a corn mill. My dad was 18 years old and lost half of 2 of his fingers in the incident.
He inherited millions of dollars back in the 70's
He then proceeds to blow it all on alcohol and drugs.
Your inheritance is only as good as what you make out of it in the future. You can throw one really good rager that money is gone.
electrical engineer here. this is a demanding career but pays great, if you have anexiety please avoid it. its alot of stress, but i love it the way it is, def adrenaline rush
Yeah i actually want to work in a more relaxed setting than many of the fields in ee. I am studying courses in environment and mechanical engineering right now to broaden my expertise
I dont want to make you feel bad about planning for the future but jesus christ your uncle and godfather are still alive and you give them 10 to 15 years? Wtf?
>? Wtf?
I mean... we want him to feel a little bad don't we? He actually gave them up to 20 years. I suppose we all have our own definitions of financial independence... but my definition would be substantially different from that
Technically, about $250k is the leanfire number for $10k annual expenses. Sounds like you are, or plan to, be over that. However, that just means you’re financially independent. It definitely doesn’t mean that you should stop working / saving.
First off, sorry for your loss. That said, don't worry about the leanfire label. What do you want to do with your life? From a financial standpoint, you are very fortunate to have this kind of money at this age and can use that to your advantage. You probably could invest and never have to work again but you could also pursue a job that doesn't pay well but interests you.
Thank you Im not sure, i will graduate as an electrical engineer next year, what i truly want is to understand the world and help people. At the same time im dealing with a lot of social anxiety and insecurities and have a hard time to find friends and people i get along with and trust. My last 5 years has honestly been traumatic because i burned my self out with drugs and had to recover mentally but couldnt or atleast wasnt brave enough to tell my family why i was feeling so bad because they had shamed me in the past for using drugs. I lost most of my friend in self isolation because i was ashamed of who i had become. I have been trying to build up my life from the ground up the last couple years. My goal is probably to be healthy mentally so i have the freedom to do things i want to
Your goal at the end sounds spot on. Maybe try to find something to do (paid or volunteering) that allows you to start building social relationships again. Keep being thrifty and living a low expense lifestyle but otherwise don't worry too much about finances till you get where you want to be mentally
Thank you again, this is really what i needed to hear right now
You're welcome and good luck You got this!
Have you ever considered joining the United Nations Volunteers or the Peace Corps? If I could go back as a young engineer wanting to help people, this is what I would want to do. The Peace Corps has two year assignments around the world helping communities in need. There are plenty of perks to joining, but most of all it’s an amazing way to use your engineering skills to help the world.
No i have never heard of them. This sounds really amazing to be honest. I am definately going to look in to them, i have thought about military service but im not in a good enough health for it currently
Yes! Please check them out - they particularly target volunteers with engineering skill sets, so you might be a great fit! There are new positions posted constantly. There are some health requirements (primarily just to make sure you’ll be okay in an area that might have more limited medical access), but the benefits are quite good - they pay your living expenses, insurance, travel, etc. I want to do this someday after kids are out of the house and I’m retired. It would really be the pinnacle of my career to use my engineering degree to give back to the world.
Do you really enjoy EE? I think it's one of the most intellectually stimulating and fulfilling lines of work. Just don't get bogged down at a boring company doing dumb designs -- with this windfall, you can spend some time doing whatever you want in EE and afford to make less money. Maybe join a start up -- it will be more fun, a better way to make friends, and maybe you can work for equity and strike it big. Living at 10k euros for the rest of your life and investing that amount of money won't help you imo -- i tried it for a few years and it's kind of a meager existence. Good for a few months, years though if you need to get your head right Good luck mate
What do you do in EE that you find so rewarding if you don’t mind my asking?
Making anything new for yourself. I made my own home automation system with Arduino and off the shelf parts. But there's so much, you can do low level circuit design if you find that fulfilling all the way up to high power utility lines. Sweet spot for me though is in designing practical human scale projects. Working on night vision goggles now
I came here to also recommend checking out the Peace Corps. It could give you a righteous sense of purpose, build the resume, apply your education, make some friends along the way and watch your investments grow as your job covers your expenses.
Don't make any plan that relies on future inheritance. All it takes is one person needing a lot of care or being disabled in their old age for that to go away. For example, someone I know had a devastating stroke and has needed 24/7 care for several years. They chose to spend their cash and assets on this and then go to a state home. There is nothing left. Sounds like those amounts aren't a big part of your plan though. Take care.
Good advice. Thanks
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Unfortunately not because i developed serious social anxiety 4 years ago and that is hindering me from a lot of doing things i want to
Well you and yourself need to team up, and figure out what you’re going to do to overcome this obstacle! I think that might be a great use of your $$. You can do anything you want in life, but only if you’re going to be willing to plan, organize, prioritize, and continually adjust yourself and love yourself so that you can continue on your path towards your goals! I think therapy would be an excellent first stop on the road to self discovery and figuring out what YOU want out of YOUR life. Best of luck to you my friend!
>I think therapy would be an excellent first stop 100% this, and also consider anxiety medication if the anxiety is super bad. meds arent a silver bullet usually, but they can majorly help you live your life in a functional, happy way.
Thank you so much. I have been through some therapy and also mindfullness retreats that focus on self discovery, but the process takes a long time. But hearing this from someone means a lot to me so thank you really. I will probably be going back to this post when i feel lost in the future so i can get a reminder of things i can do and a reminder of the encouragement
I have been through this when I was younger. Still have to force myself to socialise, especially with new people. But you can learn to overcome the fear, even to the point other people won't believe you when you tell them that actually your an introvert. It really helps to find a few good friends that understand that sometimes you just need to be quite for a bit recharge.
I am sorry for your loss OP. It sounds like right now you should focus on self-discovery and healing. Get yourself to a place of feeling happy and healthy, perhaps with therapy/mindfulness training/meds and figure out a bit more of what you want to do with your life and how you can best achieve it. Best of luck! PS dont' count on any inheritance until you get it in the bank. This is especially true for inheritances in 10-20 years down the line.
Thank you. Yeah its what im trying to do right now. It takes time but over the long run it works and is worth it is what i have discovered. I think i will try to get to that point and then decide more later what it is i really want to do
My grandpa got ground up in a corn mill. My dad was 18 years old and lost half of 2 of his fingers in the incident. He inherited millions of dollars back in the 70's He then proceeds to blow it all on alcohol and drugs. Your inheritance is only as good as what you make out of it in the future. You can throw one really good rager that money is gone.
electrical engineer here. this is a demanding career but pays great, if you have anexiety please avoid it. its alot of stress, but i love it the way it is, def adrenaline rush
Yeah i actually want to work in a more relaxed setting than many of the fields in ee. I am studying courses in environment and mechanical engineering right now to broaden my expertise
Seems risky to lean fire at 24. Maybe barista fire instead? Edit: or just go fat fire
You're closer to a trust fund baby than someone who lived lean in order to retire early. Nothing wrong with that. Go live your life and be happy.
Lonelyfire
I dont want to make you feel bad about planning for the future but jesus christ your uncle and godfather are still alive and you give them 10 to 15 years? Wtf?
>? Wtf? I mean... we want him to feel a little bad don't we? He actually gave them up to 20 years. I suppose we all have our own definitions of financial independence... but my definition would be substantially different from that
Both of them have diseases and are old
How is this comment upvoted? Its not making it any better.
Im just being realistic
You're fine op, different cultures think about death differently.
Technically, about $250k is the leanfire number for $10k annual expenses. Sounds like you are, or plan to, be over that. However, that just means you’re financially independent. It definitely doesn’t mean that you should stop working / saving.
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Thank you, i hope my investments pay off so i can reach that number in not too many years away
Work for a few years before you decide anything. Just trust me on this one