5 ms·

I think time helps shape perspectives here. It can be really hard to tell someone's career or life trajectory in the moment or even in 1, 2, or 5 years. I'm 3

I think time helps shape perspectives here. It can be really hard to tell someone's career or life trajectory in the moment or even in 1, 2, or 5 years. I'm 35 now so I have the benefit of hindsight looking back on the decisions different people my age have made and while I'd be the first to caution against potential bias in data I can say definitively that the people who were into FIRE or grindset or whatever before those terms even existed have ended up markedly worse off by their own definition of success than people who took more traditional routes. There are exceptions, I know one person who made millions on cryptocurrency for example. But he's the one exception to the rule I can think of. The rest ended up no better off than their peers who weren't out there posting every motivational quote on social media or eliminating their social lives to write and ebook about credit card reward points. So was it worth it? I doubt it. The ROI seems to be negligible or even negative to me. It turns out there was no shortcut to wealth and happiness after all.

godmode2019 4y ago
I think you are forgetting to factor in risk, Those paths are much more risky, a few make it big most don't. But that's the trade off people willingly make, a small shot at making it big, or living a normal upper middle class fully employed lifestyle. The way I think about it is, if you are on a deserted island, but you have made a nice life for yourself, shelter, water, food. Do you risk pulling it all down to make a raft to sail into the unknown searching for somewhere better. May people stay put and justify their stagnant lifestyle by how they are slightly ahead of the people whos raft sunk and had to swim back and start over. Those people are the movers the shakers of the world, they take in the risk for something more in life. Every time you fail you are failing upwards, learning skills you didn't have before becoming stronger and building better rafts.
- wizofaus 4y ago
  But that's never how it's sold - "do all these things and maybe increase your chance of becoming phenomenally successful by 1%". Almost by definition a tiny percentage of people will ever be "phenomenally" successful. And the ones that do probably would do so with or without these sorts of "tips".
  - mdiesel 4y ago
    And most people that do then look back on their lives and point to certain things they did that sets them apart. Like an old person healthy at 100 saying they studiously avoided beans and that's the sole reason they're still fit and well. That's not to say the advice isn't sound, maybe it is, but if it's advice based on N=1 I'm not about to change my lifestyle.
- patentatt 4y ago
  Sometimes, some people fail down too, and it damages them. If you think that all failure is 'failing up,' I'd suggest you haven't really failed, and have just experienced setbacks.
bogdanoff_2 4y ago
>the people who were into FIRE [...] have ended up markedly worse off by their own definition of success than people who took more traditional routes. Can you please elaborate?
- CSMastermind 4y ago
  Sure, the people I know who: - Focused on getting passive income streams set up through real estate, stock investment, content creation, retail arbitrage, etc. - Were particularly frugal with their money and avoided travel, parties, 'lifestyle creep', etc. - Attempted to min/max their careers by switching jobs every 1.5 to 2 years and negotiating hard each time. Are: - Still not retired in their mid to late 30s. - On track to retire in their early 50s. - Slightly behind their peers in terms of career progression. While those who joined big tech, worked hard, and let their equity compound are basically on pace to retire at the same age while also getting to spend their youth traveling, partying, and generally enjoying life. Plus, I've found the people who were hyper focused on retiring early or achieving financial independence to be less happy and more self-critical about their financial decisions.
  - hparadiz 4y ago
    I've personally not done any of that and just became a home owner but it has only been possible from crypto investments in which I got extremely lucky. It had absolutely nothing to do with my tech career or how much extra work I do outside my 9-5.
  - jwhiles 4y ago
    I think you have a somewhat distorted understanding of what FIRE means, or at least one that is different to my own understanding of the term. I think of FIRE as essentially trying to optimise lifestyle and work in order to quickly reach a point where you don't need to work by paying attention to your income and expenses. This doesn't necessarily imply extreme frugality, and I think the mindset should actually make you more likely to go into big tech or the like because increasing income has a bigger impact than decreasing expenditure on for most people. For sure there are people in the space who are trying to sell people on the idea that drinking coffee or not is the factor in when they will retire - but these people are fundamentally hucksters I think.

godmode2019 4y ago

I think you are forgetting to factor in risk, Those paths are much more risky, a few make it big most don't. But that's the trade off people willingly make, a small shot at making it big, or living a normal upper middle class fully employed lifestyle. The way I think about it is, if you are on a deserted island, but you have made a nice life for yourself, shelter, water, food. Do you risk pulling it all down to make a raft to sail into the unknown searching for somewhere better. May people stay put and justify their stagnant lifestyle by how they are slightly ahead of the people whos raft sunk and had to swim back and start over. Those people are the movers the shakers of the world, they take in the risk for something more in life. Every time you fail you are failing upwards, learning skills you didn't have before becoming stronger and building better rafts.

wizofaus 4y ago
But that's never how it's sold - "do all these things and maybe increase your chance of becoming phenomenally successful by 1%". Almost by definition a tiny percentage of people will ever be "phenomenally" successful. And the ones that do probably would do so with or without these sorts of "tips".
- mdiesel 4y ago
  And most people that do then look back on their lives and point to certain things they did that sets them apart. Like an old person healthy at 100 saying they studiously avoided beans and that's the sole reason they're still fit and well. That's not to say the advice isn't sound, maybe it is, but if it's advice based on N=1 I'm not about to change my lifestyle.
patentatt 4y ago
Sometimes, some people fail down too, and it damages them. If you think that all failure is 'failing up,' I'd suggest you haven't really failed, and have just experienced setbacks.

bogdanoff_2 4y ago

>the people who were into FIRE [...] have ended up markedly worse off by their own definition of success than people who took more traditional routes. Can you please elaborate?

CSMastermind 4y ago
Sure, the people I know who: - Focused on getting passive income streams set up through real estate, stock investment, content creation, retail arbitrage, etc. - Were particularly frugal with their money and avoided travel, parties, 'lifestyle creep', etc. - Attempted to min/max their careers by switching jobs every 1.5 to 2 years and negotiating hard each time. Are: - Still not retired in their mid to late 30s. - On track to retire in their early 50s. - Slightly behind their peers in terms of career progression. While those who joined big tech, worked hard, and let their equity compound are basically on pace to retire at the same age while also getting to spend their youth traveling, partying, and generally enjoying life. Plus, I've found the people who were hyper focused on retiring early or achieving financial independence to be less happy and more self-critical about their financial decisions.
- hparadiz 4y ago
  I've personally not done any of that and just became a home owner but it has only been possible from crypto investments in which I got extremely lucky. It had absolutely nothing to do with my tech career or how much extra work I do outside my 9-5.
- jwhiles 4y ago
  I think you have a somewhat distorted understanding of what FIRE means, or at least one that is different to my own understanding of the term. I think of FIRE as essentially trying to optimise lifestyle and work in order to quickly reach a point where you don't need to work by paying attention to your income and expenses. This doesn't necessarily imply extreme frugality, and I think the mindset should actually make you more likely to go into big tech or the like because increasing income has a bigger impact than decreasing expenditure on for most people. For sure there are people in the space who are trying to sell people on the idea that drinking coffee or not is the factor in when they will retire - but these people are fundamentally hucksters I think.