Fire

Thrugelmir

Audaxer wrote: »

Presumably you don't mean a decade where equities have fallen every year of the decade?

More recently below the rate of inflation.

Further back in time the world was a far less stable place. The oft quoted historical return figures hide a multitude of scenarios. Individuals don't have the luxury of 100 year plus time horizons. To sit back and watch their money grow.

Anonymous101

Sea_Shell wrote: »

Definitely. My bold. No only might they expect to dib-into or benefit from your funds, but also that you now have "all this time on your hands" to do lots for them. Eh, no, we're retiring for us, not you!!!!

I'm hoping to fly under the radar for as long as possible, but the neighbours are bound to twig first, as the cars here everyday!!!

Definitely, its a bit of a dual edged sword for me as I see a benefit to achieving FI is to be able to help out and spend time with friends and family. That was my thought about working for myself or from home, people aren't so demanding of your time when they think its limited. Working from home would also explain your lack of commute!

cns06

Indeed its funny how people seem to demand to know how you plan to exist without working. I just keep details to a minimum and now we have agreed to not really tell anyone the truth as its just going to make friends and family resent us. Not that we are wealthy people we work a fairly normal job and we work very long hours too (one of the reasons we want to FIRE).

I have friends who earn twice as much as us but have £500k mortgage and kids, 2-3 holidays a year at £5-10k a pop. I don't judge their use of their time and money that's their choice to do those things. But when I come to FIRE I know they will judge me so its best if we just use the career break excuse.

A very good friend of mine is also on the FIRE path and we share some numbers from time to time. We have a similar FIRE number. I think that's the only person other than my wife I have told actual real world numbers too.

Anonymous101

cns06 wrote: »

Indeed its funny how people seem to demand to know how you plan to exist without working. I just keep details to a minimum and now we have agreed to not really tell anyone the truth as its just going to make friends and family resent us. Not that we are wealthy people we work a fairly normal job and we work very long hours too (one of the reasons we want to FIRE).

I have friends who earn twice as much as us but have £500k mortgage and kids, 2-3 holidays a year at £5-10k a pop. I don't judge their use of their time and money that's their choice to do those things. But when I come to FIRE I know they will judge me so its best if we just use the career break excuse.

A very good friend of mine is also on the FIRE path and we share some numbers from time to time. We have a similar FIRE number. I think that's the only person other than my wife I have told actual real world numbers too.

People demand to know how you plan to live without working and yet insist that its impossible when you tell them how! Or in the case of the friends which earn twice as much (and no doubt spend 3 times as much) will always find an excuse as to how its not relevant or possible for them.


I think resent is a unfortunately a very real problem for the FIRE wannabe. People want the benefits but aren't prepared to listen to the advice and put in the work.

Sea_Shell

The good people on here are the only people who know our real numbers!!

I think my work colleagues were too stunned to ask any real questions... probably just assumed we'd "come into" money, via lottery or inheritance!

Audaxer

Thrugelmir wrote: »

More recently below the rate of inflation.

Further back in time the world was a far less stable place. The oft quoted historical return figures hide a multitude of scenarios. Individuals don't have the luxury of 100 year plus time horizons. To sit back and watch their money grow.

If we really can't be confident that in retirement we can safely withdraw even 3% pa rising with inflation, from a balanced portfolio of say 60% equities and 40% bonds, throughout a 30 year retirement without running out of money, how do you know when you have reached Financial Independence?

bugslett

I'm only half FIRE, possibly just fire.

I wanted the option to not work, I havent traded up to a big house for the sake of it and apart from a one off, have driven a shed of a van.

On the other hand, apart from the last couple of years I havent earned enough to really save that much beyond an emergency fund, the intention was always to pull the plug on the business and that has provided the money. Most people know that is why I am retired and perhaps that is why I havent experienced anyone thinking I'm about to be totally ridiculous with money or resentment. I'm not entirely honest though. Yes I've bought a boat, but what I tend to say it's a one off extravagent purchase (it is) and that as long as I have 20k a year I will be fine, ( I expect to have at least twice that, but I'm not lying when I say about the 20k).

Most of the neighbours by now realise I am retired, but it's a modest neighbourhood, so again they probably think that I can manage as long as I dont do anything daft.

I cant imagine anyone asking for money, no family so that helps.

Spreadsheetman

Audaxer wrote: »

If we really can't be confident that in retirement we can safely withdraw even 3% pa rising with inflation, from a balanced portfolio of say 60% equities and 40% bonds, throughout a 30 year retirement without running out of money, how do you know when you have reached Financial Independence?

If you haven't got a DB pension the only answer appears to be if you have died before being forced to go back to work...

Zola.

I love the theory and the movement. Everyone in on it together, lots of support and good ideas. As long as you are sensible, don't deprive yourself too much, you cant really lose if you are patient and don't do anything daft.

Whats the worst that can happen? You cant retire as early as hoped, but have a stash of money set aside and will be in a strong position to choose what to do with your life.

Thrugelmir

Zola. wrote: »

Whats the worst that can happen? You cant retire as early as hoped, but have a stash of money set aside and are will be in a strong position to choose what to do with your life.

You lose time. Something that can never be recovered. Perhaps an opportunity. Age eventually catches up with everyone. Far more to life than money.