Wondering if there is anyone on here that has retired early (FIRE Movement)

[Elite]

For the last few years I have been following and reading and listening to podcasts on financial independence retire early (fire).

I have been living well under my income level for 5 years now and on course to semi retire
In 10 years. I will be 40 years old if all goes to plan…

So I am curious if any fellow rock sliders that share the same lifestyle have done this or currently making it happen? And if it’s just a pipe dream with how the cost of living is changing


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[Weldor]

I retired at 60, don't know if you consider that early. Was going to go at 55 but things started to increase in price so I waited til 60. No regrets. except maybe the cost of going hunting now that I can do it way more often. LOL.

 

[eamyrick]

The Reddit Fire thread has a wealth of information. My goal is 45. I turn 38 this year.

 

[CorbLand]

I am about the same age as you and I dont really plan to retire early but by the time I am 50-55 I would like to be in the position to work a job with lots of freedom to take time off.

 

[venado mula]

Retirement isn't what it's cracked up to be. Most folks that retire around where I live get bored in a year and are looking for work. Work as long as you can would be my recommendation.

 

[weekender7]

I planned to retire at 65, got laid off at 62 so yes, I retired early, although somewhat forced I call it.

 

[Weldor]

Retirement isn't what it's cracked up to be. Most folks that retire around where I live get bored in a year and are looking for work. Work as long as you can would be my recommendation.

I'm a retired Welder, I keep pretty busy. Have a lot of work coming in , nice part is I do it at my leisure. But I do agree seen to many friends waste away by not doing anything after retirement.

 

[Fogalo]

Why would you want to do that? Save the money and start your own business. Retirement is a good way to an early grave. I know guys who thought they’d retire fail to realize that since they’re not working they’re also spending twice as much. You don’t want to be the guy who has to jump back in the workforce at 55 after a 15 year hiatus.

 

[Poser]

What an absolutely pathetic and senseless existence some people must live when they have to have a job to give their life meaning.

Talk about having over-conformed and given up any sense of individual purpose and identity…. Sheesh.

If you need a job to not be bored, you are a pathetic excuse for a human being: have no sense of passion or creativity and just sleepwalked through your life. I reckon these must be the same people who apparently lack an inner dialogue.

 

[Glendon Mullins]

What an absolutely pathetic and senseless existence some people must live when they have to have a job to give their life meaning.

Talk about having over-conformed and given up any sense of individual purpose and identity…. Sheesh.

If you need a job to not be bored, you are a pathetic excuse for a human being: have no sense of passion or creativity and just sleepwalked through your life. I reckon these must be the same people who apparently lack an inner dialogue.

good god, that's a little rough don't ya think?

I mean if someone has to have a job to give meaning to their life I can kinda agree with ya, but there are people who literally need something to do to occupy their time, or even keep their mind busy or off other things.

 

[Elite]

I am about the same age as you and I dont really plan to retire early but by the time I am 50-55 I would like to be in the position to work a job with lots of freedom to take time off.

I do it plan to semi retire, So a different job with the ability to take lots of time off is also the key.


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[Duckhunter14]

This is a great thread to start. I think we all look forward to that day when we can comfortably say we’re done working. I’m 36 and have been thinking about how/when I want to be done, and my goals to get there. One thing I’ve noticed (I work for a family owned construction company) is that the older guys who try to retire get bored. I truly think what it boils down to is they don’t feel as important in retirement. We have had multiple superintendents come back in their mid to late 60’s to work part time because they said they hated retirement and could only hunt, fish and golf so much.

I think a lot about that sentiment and hope to be in a place when I get to a comfortable financial level to walk away and be content in my decision. The construction industry is extremely high paced and competitive and we do it because we love it. We love the challenge and the pace and we get bored easily. I can see how people who walk away miss the race, miss the responsibility and miss the camaraderie.

My goal is to be able to walk away when myself and my family are in a financial situation to do so comfortably. I’d love to be able to help my kids and possibly grandkids financially. But I also want to retire while my body is still willing and able to hike up mountains and do what I love to do most. I know it sounds cliche but if you do what you love, what you’re passionate about then work won’t feel so much like work and you won’t dream of retiring at 21. I love what I do and don’t want to quit now, but by 55 (approximately 18 years) I hope to be in a place to do so and walk away confidently.

I currently manage two rentals I own and am paying down any debts I have (which are minimal). I scraped and saved and barely was able to keep my first house I bought and rent it when I moved from WA to ID. My account was a little bleak after the move but now my rental (which includes a house and apt connected to shop) pays both my mortgages plus a few bucks. Not having a mortgage payment allows me to pay down my last credit card and put a little money away. I’d love to hear more ideas and side hustles that guys employ to further pad the retirement fund and hunt and fish to their hearts content in their golden years enjoying their time as they please and spending time with family.

 

[Keith Stone]

 

[Elite]

The Reddit Fire thread has a wealth of information. My goal is 45. I turn 38 this year.

I definitely follow that group. But some live a vastly different lifestyles then the majority of rocksliders. So I am curious how it fits into this lifestyle


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[Doc Holliday]

He said Semi-retire. Big difference

For actually retiring early, the thing about not having a regular job in your 40s is that you will have a hard time finding anyone else who is on your same page. You may have spare time, but others won't. Kind of like trust fund babies who cant find a peer group and everyone around them who is normal resents them. Different, yet similar challenge.

Retirement means different things to different people. Spare time must be filled, what will you fill it with? And what will that cost to do? Im guessing many of the FIRE types are not traveling, going out to dinner, or playing golf/fishing 3X/week.

You need to take a look at your lifestyle and fixed costs, and make the determination of if you will have enough disposable income to live the retirement you have in mind. For some people they'd be happy with $500K.... Some people need 1M, 2M, 5M, etc.

Depending on your profession, exiting the workforce for a certain number of years could also set you back on your salary trajectory or career trajectory.

I think your idea of semi is a good one

 

[87TT]

I think myDad was 55 or 56 when finally retired for the last time. Him and my uncle both retired with small pensions and started building spec houses. They built 26 houses and sold them. My mom had a Preschool that they sold and they started traveling all over the country. My Dad passed away just shy of 90 and my Mom is still going strong at 88. Me on the other hand have never retired, just changed careers a couple of times. My current career since I turned 63 is full time elk hunter. Get SS and a pension that is enough to be fine. Before I turned 65, my biggest worry was med ins. That one is crazy ans keeps going up til you die or get Medicare.

 

[Coopsdaddy]

Poser I agree.
But I see what they are getting at,basically stay busy is what i would say.
I have been involved in the fire life for years but work a blue coller job while raising 3 kids.
We have been in the same house for 25 years,drive a 2000 4runner and 16 es350.
We spend more than I like but have to find a balance with three kids and all play sports or have hobbies.I’m 47 and in 5 years my youngest will be 18 so we will start the more serious process of semi retiring.
Wife is educated but im not,she plans to find something she can work from home or while traveling and I plan to start my on bussiness.
Not sure yet what that is but i think about it multiple times a day.I would prefer something in the fitness or hunting industry.
We want to move for a change but have to be careful as we don’t want lifestyle cheap to harm our savings.
Have even thought about living abroad January-April,coming home and busting ass mowing for the summer,hunting October-dec and repeat.
Anything can be done if you’re debt free,healthy and not lazy.
Or you can just clock in till your 65.

 

[Elite]

Just to clarify a few things. I mentioned semi retired. Meaning I will seek something that I love doing. Guiding bear hunters/ Working for a outfitter in my area part time. My current career is extremely stressful and is a high paying career but I do not enjoy it.

My goal has always been to save a large nest egg and have zero debt besides my house currently. Then transition to a lower income job that I love and then substitute the rest of the income needed from my dividends/capital gains from my investments.


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[ianpadron]

What an absolutely pathetic and senseless existence some people must live when they have to have a job to give their life meaning.

Talk about having over-conformed and given up any sense of individual purpose and identity…. Sheesh.

If you need a job to not be bored, you are a pathetic excuse for a human being: have no sense of passion or creativity and just sleepwalked through your life. I reckon these must be the same people who apparently lack an inner dialogue.

I get where you're coming from and don't necessarily disagree. I would however add that "Work" has been part of God's plan for man since the very beginning, and there's a MASSIVE difference between a "JOB" and "work".

It's up to us to find our talent/skill and share it with our communities instead of trading our time for $$$ in hopes that someday we'll have made enough $$$ to trade it back for time...

Most men hate their jobs because they chose it for the $$$ and security instead of their love for it. These are the men that crave early "retirement".

For those focused on building a financial wall for their families, solving problems for their communities, and sharing God's gifts, they'll never work a day in their life, and certainly never "retire".

 

[87TT]

Just to clarify a few things. I mentioned semi retired. Meaning I will seek something that I love doing. Guiding bear hunters/ Working for a outfitter in my area part time. My current career is extremely stressful and is a high paying career but I do not enjoy it.

My goal has always been to save a large nest egg and have zero debt besides my house currently. Then transition to a lower income job that I love and then substitute the rest of the income needed from my dividends/capital gains from my investments.


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OK, I still work part time as a pain in the as*.