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> The problem I've always had with that story is that most people are struggling just to live on what they make. FIRE obviously isn’t meant for someone trying
by PragmaticPulp 5y ago
> The problem I've always had with that story is that most people are struggling just to live on what they make.
FIRE obviously isn’t meant for someone trying to live in an expensive city on a $15/hr wage. However, there really are many career paths that readily allow the math. You’re obviously going to struggle to make it work if your goal is to work for a non-profit in Seattle or San Francisco, but it’s entirely within reach if you choose to work for an average tech company in an average city. It’s also trivial to make the math work out if you’re able to get a FAANG job anywhere and keep your lifestyle in check.
> Saving 50% of your income when you are trying to make rent is a pipe dream.
Depends entirely on your lifestyle and relationship situation. Many of us easily achieved FIRE savings rates by simply getting married to another professional, choosing to keep expenses within the limits of one person’s income, and putting 100% of the other person’s income into savings. Instant 50% savings rate, and it’s not even difficult to be honest. As a bonus, it was easy to transition to having kids and a stay-at-home spouse because we already lived on one income.
Obviously doesn’t work for everyone in every situation, but it’s not correct to say it’s a pipe dream or that it can’t work. It’s a choice that requires choosing lifestyle and career directions to match, but everything is a tradeoff.