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> In my circles, everyone from 25-35 is simultaneously preparing to FIRE It's still shocking to me how "chill" this is. "Oh yeah, I'm about to FIRE, no big pro

> In my circles, everyone from 25-35 is simultaneously preparing to FIRE It's still shocking to me how "chill" this is. "Oh yeah, I'm about to FIRE, no big problem". Achieving FIRE is such a mind blowing concept to me, Let alone at 25-35!!! Where I live we don't have fat six figure salaries flying around allowing us to accumulate a chunky ETF portfolio to live off of. Be grateful for what you have achieved! > Suddenly, having good health insurance, WFH 'flexibility' and a stable jobs are now being viewed as things to be grateful about rather than the norm for well educated and employable adults. Do you realise how the bottom ~50% of the US workforce lives [1]?! Getting paid six figures or more easily puts you in the top 10% of income earners in the US. Why are you talking as if these should be the norm? They clearly aren't by all metrics. You have such incredible benefits for the work you do, why do you believe you shouldn't feel any privilege or gratitude? [1] https://www.legalreader.com/low-wage-jobs-are-the-new-american-normal/ https://www.legalreader.com/low-wage-jobs-are-the-new-americ...

viraptor 5y ago
> Achieving FIRE is such a mind blowing concept to me What's FIRE in this context?
- jason0597 5y ago
  I presume it means Financial Independence Retire Early, most famously known on the relevant subreddit [1] [1]: https://reddit.com/r/financialindependence/ https://reddit.com/r/financialindependence/
- deleted 5y ago
  [deleted]
- SuoDuanDao 5y ago
  Financial Independence Retiring Early. The basic assumption generally being, anyone who can save two-thirds of each paycheque and invest in a portfolio yielding 4% per year after inflation can retire in 10 years. Saving two-thirds of each paycheque is of course difficult unless one is in a high pay grade to begin with, but there are enough people with the necessary discipline to keep the dream alive for many of us.
- screye 5y ago
  FI = Financially independent = Have enough assets to sustain an acceptable lifestyle off interest from investments + some moderate draw on principal (usually totals to 4%) = Finances are not dependent on money from job RE = Retire early = retire from the necessary but emotionally unfulfilling jobs. For most people RE means pursuing interests that are not financially viable if you aren't already FI. It can mean a youtube channel, studying whatever you want or working on a side project without strict deadlines or the stress that comes with an all-or-nothing endeavor. The key fallacy in FIRE, is that it ignores creeping costs and the stubbornness of your dependants. Avoiding lifestyle creep in fundamental to the movement. This also means being unable to fund fancy private schools for your kids and your spouse being fine with the sudden loss of a huge income source. FIRE is an empty pursuit without a definite end goal. If you don't know what you want to do during RE, you might just be condemning yourself to a loss of purpose and possibly significantly higher risk of death/mental deterioration. Ofc, you can always pursue a more relaxed form of FIRE. Make enough to move to part time / contracts, or move to another country with lower wages or fully dedicate yourself to a moonshot.
revel 5y ago
Just a warning to those planning to do this: you are taking an incredible risk with your future that I think is undervalued. Circumstances beyond your control can make your plans financially unviable and by retiring so early you have absolutely no room for error. All it takes is one change in health or a regulation for your whole plan to be instantly invalidated. For those that have the ability and the desire to retire: congratulations! Please be careful!
- wallacoloo 5y ago
  I don’t know enough about the capital-FIRE group, but any techies around me who want to “retire” early in reality want to go back to just treating tech as a hobby. I think there’s a subtly different “financial independence so I can quit working for the big guy” mentality that gets lumped into the FIRE acronym, even though in this version people are likely to retain skills and connections that should in theory give them some edge if they ever need/want to go back. But yes: risk is always a part of the game.
- deleted 5y ago
  [deleted]
- ptmcc 5y ago
  Critics of FIRE really like to hone in on the "RE" part, but most people I know who are aspiring toward the goal are much more focused on the "FI" part. It's not so much that you can retire to sitting on your ass at 35, but it's that you've made your millions and can quit the grinding corporate job and do something less stressful and/or more meaningful, and quite likely less lucrative, without taking a big lifestyle hit. It's about having the ability to build the lifestyle you want. Having that big bank account gives you options and freedom. Few people I know working toward FIRE are aspiring toward doing nothing in "retirement".
  - mywittyname 5y ago
    Also, whatever you do after the "RE" part could very well end up being much more lucrative than being a well-paid wage earner could have ever been. When you take a smart person, make their life boring, and throw them enough capital that they can afford to do anything they want, the end result is often innovation.
passivate 5y ago
Why limit it to the US; there is always going to be someone who is worse off than you on the planet. I think its possible to be grateful that you're not that person, but also complain about things that affect you from time to time. :)

viraptor 5y ago

> Achieving FIRE is such a mind blowing concept to me What's FIRE in this context?

jason0597 5y ago
I presume it means Financial Independence Retire Early, most famously known on the relevant subreddit [1] [1]: https://reddit.com/r/financialindependence/ https://reddit.com/r/financialindependence/
deleted 5y ago
[deleted]
SuoDuanDao 5y ago
Financial Independence Retiring Early. The basic assumption generally being, anyone who can save two-thirds of each paycheque and invest in a portfolio yielding 4% per year after inflation can retire in 10 years. Saving two-thirds of each paycheque is of course difficult unless one is in a high pay grade to begin with, but there are enough people with the necessary discipline to keep the dream alive for many of us.
screye 5y ago
FI = Financially independent = Have enough assets to sustain an acceptable lifestyle off interest from investments + some moderate draw on principal (usually totals to 4%) = Finances are not dependent on money from job RE = Retire early = retire from the necessary but emotionally unfulfilling jobs. For most people RE means pursuing interests that are not financially viable if you aren't already FI. It can mean a youtube channel, studying whatever you want or working on a side project without strict deadlines or the stress that comes with an all-or-nothing endeavor. The key fallacy in FIRE, is that it ignores creeping costs and the stubbornness of your dependants. Avoiding lifestyle creep in fundamental to the movement. This also means being unable to fund fancy private schools for your kids and your spouse being fine with the sudden loss of a huge income source. FIRE is an empty pursuit without a definite end goal. If you don't know what you want to do during RE, you might just be condemning yourself to a loss of purpose and possibly significantly higher risk of death/mental deterioration. Ofc, you can always pursue a more relaxed form of FIRE. Make enough to move to part time / contracts, or move to another country with lower wages or fully dedicate yourself to a moonshot.

revel 5y ago

Just a warning to those planning to do this: you are taking an incredible risk with your future that I think is undervalued. Circumstances beyond your control can make your plans financially unviable and by retiring so early you have absolutely no room for error. All it takes is one change in health or a regulation for your whole plan to be instantly invalidated. For those that have the ability and the desire to retire: congratulations! Please be careful!

wallacoloo 5y ago
I don’t know enough about the capital-FIRE group, but any techies around me who want to “retire” early in reality want to go back to just treating tech as a hobby. I think there’s a subtly different “financial independence so I can quit working for the big guy” mentality that gets lumped into the FIRE acronym, even though in this version people are likely to retain skills and connections that should in theory give them some edge if they ever need/want to go back. But yes: risk is always a part of the game.
deleted 5y ago
[deleted]
ptmcc 5y ago
Critics of FIRE really like to hone in on the "RE" part, but most people I know who are aspiring toward the goal are much more focused on the "FI" part. It's not so much that you can retire to sitting on your ass at 35, but it's that you've made your millions and can quit the grinding corporate job and do something less stressful and/or more meaningful, and quite likely less lucrative, without taking a big lifestyle hit. It's about having the ability to build the lifestyle you want. Having that big bank account gives you options and freedom. Few people I know working toward FIRE are aspiring toward doing nothing in "retirement".
- mywittyname 5y ago
  Also, whatever you do after the "RE" part could very well end up being much more lucrative than being a well-paid wage earner could have ever been. When you take a smart person, make their life boring, and throw them enough capital that they can afford to do anything they want, the end result is often innovation.

passivate 5y ago

Why limit it to the US; there is always going to be someone who is worse off than you on the planet. I think its possible to be grateful that you're not that person, but also complain about things that affect you from time to time. :)