I have a question for those in early FIRE or planning on early FIRE

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
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TheTimeLord
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I have a question for those in early FIRE or planning on early FIRE

Post by TheTimeLord »

I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
fabdog
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by fabdog »

Well, it's been 5 years since I retired early. I;m pretty much doing now what I was doing in the first year, with some changes in time allocation

I do some volunteer work I like
I take care of things around the house, and help out my kids as needed on their houses.
I work a job I like for a few months of the year (I enjoy the work, but don't want to do it full time, and they like having the seasonal help)
I spend time helping my folks out (this has increased over the years and I assume will continue to do so)
I do some freelance consulting

Of course all of this is structured to allow for several months/year of travel

So I don't know that it's any more or less exciting than when I started... as long as my health holds out I imagine it will look a lot like this in 5 more years

Mike
sjt
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by sjt »

fabdog wrote: Tue Jan 28, 2020 1:43 pm Well, it's been 5 years since I retired early.


I work a job I like for a few months of the year (I enjoy the work, but don't want to do it full time, and they like having the seasonal help)


I do some freelance consulting
Uh oh, the retirement police will be here soon to tell you you're not actually retired..... :wink:
"The one who covets is the poorer man, | For he would have that which he never can; | But he who doesn't have and doesn't crave | Is rich, though you may hold him but a knave." - Wife of Bath tale
evilityb
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by evilityb »

1) Waking up when I want to; drinking a leisurely cup of coffee
2) Playing sports
3) Singing in my choir(s)
4) Picking up new hobbies
5) Probably teaching a few classes at community colleges, when I want to
6) Cultivating community and valuable interpersonal connections
7) Contributing to my community in meaningful ways (I hope to be a foster parent but we shall see if that works out)
8) Maybe getting a few more master's degrees, purely for interest and intellectual challenge

Each day is likely to be similar but also quite different
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sailaway
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by sailaway »

This is where many folks say to retire to something.

We are using FIRE math to set up our future, but DH insists on referring to our original plan as an extended sabbatical. And he isn't even aware of the IRP (Internet Retirement Police).

We plan to start by cruising on our sailboat until we get bored with that. Many people set out to sail around the world and either make themselves miserable in the process or feel like failures when their plans change. So we are going to sail until we don't want to. Daily, that means some sailing, weeks of it if we cross an ocean. Cooking, cleaning and other chores take a lot longer when the boat is moving about. At anchor or in port, lots of exploring, hiking, biking, snorkeling, reading. We may also give presentations at local schools, if they will have us.

Follow up plans include traveling by RV, perhaps some day buying a place near a small town that allows for similar daily activities.

In between all of that, if we find a project to work on, that will be great. One thing we have considered is running a cafe/community center in a small town. DH will also keep in touch with his current co-workers, in case any of them have a project to invite him to. He is highly respected at work, but doesn't do the kind of work that gets you highly respected in your field. That's the thing with tightly guarded IP.

I haven't had a paying job in about a year and a half. I mostly volunteer, sleep more than I ever have and on my best days do the hiking, biking and exploring on my own. On OK days, I convince myself that I will start writing more, and actually do plan on doing that this afternoon.
surfstar
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by surfstar »

Travel / Planning travel which would lead to

backpacking
camping
rock climbing
surfing
diving
snowboarding
hiking
exploring new places

Basically all the things we do on long weekends and vacations, but full time. Showing up to a surf break or campsite on a non-weekend day - minimize the crowds and maximize our enjoyment. That is seen as a huge benefit.

I'm still amazed that other people can't find better things to do than work. There is literally world of options. (OP - I've seen you ask/comment on this topic a few times. Glad you enjoy your job - not all of us do.)

*when we get "bored" we'll finally have time to get into new hobbies - mountain biking possibly, parasailing?, who knows...
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AerialWombat
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by AerialWombat »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
Last edited by AerialWombat on Fri Jan 31, 2020 6:25 pm, edited 1 time in total.
ThankYouJack
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by ThankYouJack »

I'd call my spouse and I early semi-retired. Things general come down to:

1) our kids (they're still pretty young)
2) rotating hobbies (we're on a big gym kick now)
3) friends (although it can be tough since most of our best friends still work 40+)
wrongfunds
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by wrongfunds »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
Why don't you go back to 5 years ago when you had asked exact same question and see what people had answered then? :-)
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JoeRetire
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by JoeRetire »

sjt wrote: Tue Jan 28, 2020 1:45 pm
fabdog wrote: Tue Jan 28, 2020 1:43 pm Well, it's been 5 years since I retired early.


I work a job I like for a few months of the year (I enjoy the work, but don't want to do it full time, and they like having the seasonal help)


I do some freelance consulting
Uh oh, the retirement police will be here soon to tell you you're not actually retired..... :wink:
If I work full-time, can I call myself retired too?
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.
EddyB
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by EddyB »

JoeRetire wrote: Tue Jan 28, 2020 2:21 pm
sjt wrote: Tue Jan 28, 2020 1:45 pm
fabdog wrote: Tue Jan 28, 2020 1:43 pm Well, it's been 5 years since I retired early.


I work a job I like for a few months of the year (I enjoy the work, but don't want to do it full time, and they like having the seasonal help)


I do some freelance consulting
Uh oh, the retirement police will be here soon to tell you you're not actually retired..... :wink:
If I work full-time, can I call myself retired too?
Being in the retirement police is a full-time job?
toocold
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by toocold »

I left work 4 months ago and I'm now debating whether to permanently ER. As context, late 40s, fatfire, executive at a Fortune 500 company. During that time, I finished remodeling the bathroom, read 7 books, helped my kids with home work and attended all of their concerts/events. I work out 1-1.5 hours a day and consistently sleep between 7 to 8 hours. I also go out on lunch dates with my wife every week while the kids are in school. I feel so much healthier now, having lost more than 25 lbs.

My problem is I have so many different things I want to explore, so I need to prioritize. My short list: woodworking, surfing, snowboarding, traveling, more renovations.

5 years later, my kids will be off in college, and I imagine that we'll either be traveling more frequently or same as today in which I wake up, cook/eat breakfast, workout, eat lunch, and then a bunch of optional things that I want to do.
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PhysicianOnFIRE
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by PhysicianOnFIRE »

I'm only five months in, so I'll have to look back in 4 years and 7 months to see how close I am.

In the meantime, we plan to travel 6 to 8 months a year, mostly internationally, and spend summers close to home in the upper midwest. We started off with 2 months in Mexico and are now enjoying a couple of months in Spain.

But 5 years from now, our boys will be at or approaching high school age, and I'm guessing we'll settle down to give them a traditional high school experience, if that's what they want. So we'll have to base any travels around the school schedule.

I expect I'll continue to spend some time exercising, goofing around online, homebrewing, and exploring other hobbies. Whatever the kids are into will also occcpy some time, especially if they're in athletics that requires travel. I swear that can be a second full-time job for some working parents I know.

So, just living life without the work part and with kids that are 5 years older. Life will get more interesting when we enter the empty nest phase and we have an additional level of freedom.

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BW1985
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by BW1985 »

Same thing I do on the weekends and when I'm on PTO, enjoy my hobbies, friends & family, travel, exercise.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?
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JoeRetire
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by JoeRetire »

EddyB wrote: Tue Jan 28, 2020 2:26 pm
JoeRetire wrote: Tue Jan 28, 2020 2:21 pm
sjt wrote: Tue Jan 28, 2020 1:45 pm
fabdog wrote: Tue Jan 28, 2020 1:43 pm Well, it's been 5 years since I retired early.


I work a job I like for a few months of the year (I enjoy the work, but don't want to do it full time, and they like having the seasonal help)


I do some freelance consulting
Uh oh, the retirement police will be here soon to tell you you're not actually retired..... :wink:
If I work full-time, can I call myself retired too?
Being in the retirement police is a full-time job?
I'm not a member of that particular police force, so I don't know. You?

I'm wondering how "retired" you need to feel while working, and how "early" it needs to be to apply the term FIRE?
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.
flyingaway
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by flyingaway »

I am only semi-retired since 42, but I work fewer hours than many people claiming to be FIRED.

If I were fully retired, I would do (I am doing some of) the following:

(1) Sleep late or early and get up as late as I want;
(2) Drink beers, but no more than one bottle a day, one liquor a week;
(3) Travel internationally at least four times a year, stay as long as I want;
(3) Play at casinos once a week when I am not on international travels;
(4) Play cards with friends at least once a week when at home;
(5) Visit each of my children at least twice a year;
(6) Take care of my parents (when they are alive) and my fruit trees;
(7) Try some good food;
(8) Do anything (good or bad, who judge) that money can help;
(9) Not interested in volunteer work;
(10) Never work for a penny again;
Blue456
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Blue456 »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
I’m a physician. Finished training not too long ago. I’m planning to FIRE in 15 years. I will probably work quarter time after I FIRE. I went into medicine because I really enjoy it.The other time I’m planning to travel.
Blue456
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Blue456 »

toocold wrote: Tue Jan 28, 2020 2:29 pm I left work 4 months ago and I'm now debating whether to permanently ER. As context, late 40s, fatfire, executive at a Fortune 500 company. During that time, I finished remodeling the bathroom, read 7 books, helped my kids with home work and attended all of their concerts/events. I work out 1-1.5 hours a day and consistently sleep between 7 to 8 hours. I also go out on lunch dates with my wife every week while the kids are in school. I feel so much healthier now, having lost more than 25 lbs.

My problem is I have so many different things I want to explore, so I need to prioritize. My short list: woodworking, surfing, snowboarding, traveling, more renovations.

5 years later, my kids will be off in college, and I imagine that we'll either be traveling more frequently or same as today in which I wake up, cook/eat breakfast, workout, eat lunch, and then a bunch of optional things that I want to do.
You reminded me. Reading books is something I really enjoy. I love binge read too but not too much time to do that now. So that’s on my FIRE list too.
Soon2BXProgrammer
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Soon2BXProgrammer »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
We are passed FI.

Over the last year, i transitioned to a very part time W-2 employment as a software engineer.
I have taken the ChFC curriculum (CFP + 1 class).
I have started the registration process to get approved as an independent financial advisor.
Over the next 10ish years, i plan to work part time in my new career as an independent, helping the people i want to help. And only having a client load of say 15ish hours a week. (the other hours will be family, friends, exercise, vacation, volunteering, etc)
I plan to do this if it goes well until my youngest is out of the house.

Then I'll be looking at what will the encore to my encore is. (which could very well be more of the same!)

I look at FI as the ability to design my life.
Is being FI required to design a great life? Of course not.
Is being FI the super conservative way to be able to design your life? Probably.

This whole thing sort of reminds me of the parable of the mexican fisherman. I don't need "more", I want to spend my time doing things that i enjoy and give me satisfaction. I could have blown the income i had over the last 14 years, but i didn't.

However, there are people that take the "retire early and often" approach or the mini retirements, or reduced working, which could be much compared to the fisherman.

An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.

The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them. The Mexican replied, “Only a little while.” The banker then asked why he didn’t stay out longer and catch more fish?

The Mexican fisherman replied he had enough to support his family’s immediate needs.

The American then asked, “But what do you do with the rest of your time?”

The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life, señor.”

The investment banker scoffed, “I am an Ivy League MBA, and I could help you. You could spend more time fishing and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat, you could buy several boats until eventually, you would have a whole fleet of fishing boats. Instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery. You could control the product, processing and distribution.”

Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City where you would run your growing enterprise.”

The Mexican fisherman asked, “But señor, how long will this all take?”

To which the American replied, “15–20 years.”

“But what then?” asked the Mexican.

The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You could make millions.”

“Millions, señor? Then what?”

To which the investment banker replied, “Then you would retire. You could move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”
Last edited by Soon2BXProgrammer on Tue Jan 28, 2020 4:18 pm, edited 1 time in total.
EddyB
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by EddyB »

JoeRetire wrote: Tue Jan 28, 2020 2:44 pm
EddyB wrote: Tue Jan 28, 2020 2:26 pm
JoeRetire wrote: Tue Jan 28, 2020 2:21 pm
sjt wrote: Tue Jan 28, 2020 1:45 pm
fabdog wrote: Tue Jan 28, 2020 1:43 pm Well, it's been 5 years since I retired early.


I work a job I like for a few months of the year (I enjoy the work, but don't want to do it full time, and they like having the seasonal help)


I do some freelance consulting
Uh oh, the retirement police will be here soon to tell you you're not actually retired..... :wink:
If I work full-time, can I call myself retired too?
Being in the retirement police is a full-time job?
I'm not a member of that particular police force, so I don't know. You?

I'm wondering how "retired" you need to feel while working, and how "early" it needs to be to apply the term FIRE?
Seems like a personal assessment. Similarly seems personal whether one will scoff at others' conclusions.
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willthrill81
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by willthrill81 »

My wife and I love to travel, and we would be likely to buy an RV and spend 4-5 months out of the year traveling. We would probably combine that with helping our charities that are important to us. For instance, Give Kids the World is a hotel/amusement park in central Florida that serves kids who have been diagnosed with life threatening illnesses and their families, and they rely heavily on volunteers. We would love to go help them. In our own town, there are several fine charities that would certainly benefit from some added volunteers. We would probably be more involved with our church's activities as well.

This is all beside the fact that there are fun outdoor activities to do around us all year long. Most of them cost little or nothing.
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SQRT
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by SQRT »

I’ve been retired for about 13 years. 69 years old. Excellent health, workout strenuously most days. Well read, self manage our portfolios and that of MIL.

Just after retirement we moved across the continent and took up downhill skiing and mountain biking. Not as active in this regard as we used to be but still enjoy it.
Started themed travel (ie biking trips, mostly to Europe) and have done about 20 of these. Met a whole new group of fabulous friends doing this.

Increased our personal real estate from 2 to 4 places. Obviously this wouldn’t appeal to many people but does to us. Love the different environments; mountains, dessert, lakeside, urban.

Have joined not for profit boards. One in particular has resulted in another new group of friends. Will probably curtail this going forward. (the board, hopefully not the friends).

Still enjoy exotic travel, often with family and (or) friends in tow. Currently starting to plan a trip to Africa next year to see the mountain gorillas of Rwanda and the other “big 5” in Tanzania/Kenya.

Very active social life in all 4 locations. Have made a concerted effort to expand our social circle.

An average day will depend on where we are. Mornings are invariably taken up with workouts, reading, investment/expense management, internet chat rooms, (I admit it). Afternoons might be on the dock/boat. sitting by the pool, visiting relatives, eating out, running errands, travel, more reading (now for pleasure). Evenings are often out with friends, or out just the 2 of us, or simply watching Netflix,etc. Have not been bored.


Obviously, this is a very personal thing. Everybody will enjoy doing different things and this will reflect both personal tastes and resources. I think the key though is to maintain as much social contact as you can both family and friends. Social isolation often happens in older people and in my view is not optimal.
Last edited by SQRT on Tue Jan 28, 2020 6:59 pm, edited 2 times in total.
Theseus
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Theseus »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
I retired at 50 as part of a sale of my company 2.5 years ago. Initially I wasn't sure what I was going to do. It took a few months to figure it out. But I have been traveling a lot (15 countries last year) with family as well as solo (DW still works), and many trips are more adventurous (long trek, biking tours etc.). And I started volunteering as a SCORE mentor (used to do once a week now twice). And trying to get involved in other volunteer activities related to entrepreneurship. Joined angel investors group and have been investing small amounts. Have been offered to be on Board of Advisors of some start up, but have not committed to that yet.

I see myself continuing this even after 5 years. But when I don't enjoy this anymore, I am sure I will figure out next things just like I figured this out after retiring. But I will not work for money (blessed that I don't need to), unless something game changing comes along that I believe in so much that I would voluntarily burn the midnight oil.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Cheez-It Guy »

Early Financial Independence Retire Early.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Unladen_Swallow »

We have not retired yet, but doing so in 5 years is a possibility. We will be 50yrs old at that time.

I have interests and hobbies that I participate in today. My retirement will involve just doing more of it in bigger ways. And perhaps learn something new.

Things I already do, but plan to do more of:
- Leisure travel
- Poker
- Expand current volunteer/mentoring activities in my industry. I have ideas.
- My parents and a lot of extended family and friends live overseas (scattered around US and Canada as well). I plan for longer and more frequent visits.
- Friends to see, things to do. Things to do with friends.
- Get more hands on involved in my dad's charity ventures.



New interests:
- Take classes in a few things I am interested in.

We expect to be involved in our profession even after we retire. Volunteering, speaking etc....

There are many things I would like to be a part of, and don't to be paid. I see myself begging to be involved in cool things ...
"I think it's much more interesting to live not knowing than to have answers which might be wrong." - Richard Feynman
IMO
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by IMO »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
"living the life you want, not avoiding the life you fear"
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TheTimeLord
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by TheTimeLord »

surfstar wrote: Tue Jan 28, 2020 1:59 pm Travel / Planning travel which would lead to

backpacking
camping
rock climbing
surfing
diving
snowboarding
hiking
exploring new places

Basically all the things we do on long weekends and vacations, but full time. Showing up to a surf break or campsite on a non-weekend day - minimize the crowds and maximize our enjoyment. That is seen as a huge benefit.

I'm still amazed that other people can't find better things to do than work. There is literally world of options. (OP - I've seen you ask/comment on this topic a few times. Glad you enjoy your job - not all of us do.)

*when we get "bored" we'll finally have time to get into new hobbies - mountain biking possibly, parasailing?, who knows...
When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
rai
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by rai »

All my life I’ve been collecting books and they’re a lot easier to buy a dozen books than to read them. So every year I might’ve bought 20 or more books and might have only read 6 that year. So hopefully will have time to read them, also I collect pinball machines and have a dozen now and I play them but not enough to get deep into the rules like I’d hope so I’ll have more time for that and I’d like to take some college courses and get some more time to walk outside and maybe pick up another hobby like buy an older car.
"Life is what happens to you while you're busy making other plans" - John Lennon. | | "You say that money, isn't everything | But I'd like to see you live without it." - Silverchair
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by scrabbler1 »

Most of the big changes to my everyday life began when I first switched from working full-time to working part-time back in 2001. Part of that included resurrecting old hobbies while doing some volunteer work.

When I fully retired in late 2008 (at age 45), those nonwork activities remained intact. One of them I was able to expand somewhat, and it became easier to do the others because the frequent scheduling issues of trying to do them around my part-time work schedule disappeared.

But the best part of retiring was simply not having to do the morning routine, especially the awful commute I so despised. Eliminating a negative was itself a huge positive.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Jim85 »

I phased into retirement. Went to 3 days a week, for a couple years, than about 1 day a week, now fully retired since last spring. This is a typical week when not traveling, at least for 8-9 months of the year.
1. Run errands with wife, shop, maybe have lunch out
2. Play golf
3. Go to an event – concert, sporting event
4. Play golf
5. Visit children/grandchildren
6. Visit my mother, help her with chores, financial things
7. Do stuff around house, annoy my wife

Can't golf all year where i live but probably get out 1-2 times a month in winter. Was concerned I'd be bored come January and that's kind of the case. But we went on a cruise and will go to Florida for a couple weeks next month. Took about 5 trips over the last 12 months. 2 cruises, trips to Florida, Jersey shore, Carolinas. Hope to have a similar schedule for a while but may need to come up with something next winter. Volunteer or some part-time gig that's interesting/fun.
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Tamarind
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Tamarind »

Planning on FIRE by 50. I can't imagine I would ever be bored. Even though I enjoy my job, I don't love spending so much time doing just that one thing to the exclusion of others. If money were no obstacle I'd likely work 20 hours a week... But since it is I'm chasing FIRE.

I have so many things I would like to do that I can't devote sufficient time to really improve at right now. My wife and I have always had a lot of varied interests that are rewarding but not sufficient to earn a living.

*Vegetable gardening & permaculture
*Researching local native plants and pollinators
*Beekeeping
*Ducks or chickens
*Regular baking, pickles, brewing, other kitchen biochem experiments
*Musical instruments
*Keeping up with output of favorite authors, local community events, etc
*Woodworking
*Slow travel, hiking, camping
*More time for practicing sports
*Just going for long walks

In addition, we both want to develop volunteer professions. I would like to pass the enrolled agent exam and volunteer with tax prep for those who need assistance, or even volunteer a little personal finance advising for those who can't afford. There are also non-profits that need my work skills but can't afford the rate I currently need to charge, and I could donate time while keeping skills fresh. My wife wants to do literacy & tutoring work, but you can't be effective without forming a relationship with students, which is tough when working full time plus.

I think FIRE in all its forms (including with part time work) is just a reflection of the fact that the market does a poor job assigning moral or human value to work. The work I do is much more lucrative and much less socially useful than work I could be doing.... But I do need money. So I save the excess money I'm paid now so I can fund that socially useful work myself later.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by flaccidsteele »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
I’m in my 40s, and don’t work, so may qualify as (early) FIRE

You’re correct that there is excitement when it’s new, but the hedonic treadmill ensures that you’ll come back down sooner or later

I’ll tell you what the average day is like: walk the dog, get kid ready for school, take kid to school, walk to coffee shop, browse interweb, eat lunch, walk the dog, meet personal trainer for work out, pick up kid, hang out at coffee shop, dinner, watch a movie or show, play video games, walk the dog, bed time

Occasionally I’ll meet a friend for dinner. People my age can’t meet any earlier because they’re working

On the weekend it’s kid activities, meeting family (parents/in-laws) and/or play dates with friends who have kids

Travel is whenever we feel like it. Generally a trip that can also keep kid busy like a Disney or Royal Caribbean (Oasis Class) cruise

I chat with my kid every day after school and weekends. I feel like an unlicensed therapist. I’m no longer surprised that most parents don’t really know their kid. How could they? They’re busy working
Last edited by flaccidsteele on Wed Jan 29, 2020 10:44 am, edited 2 times in total.
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by CoAndy »

I am looking forward to sleeping in, a long leisurely break fast and coffee on the deck (half the year; in front of the fire the rest of the year), enjoying not commuting in rush hour traffic, taking the dog on long hikes with my wife, joined a CrossFit gym last year and would love to increase workouts to twice daily, reading a lot of books, yard work, gardening, nice dinners out on occasion, long camping trips, smoking cigars with an adult beverage on the deck at night, watching a bunch of classic movies I have yet to see, etc...Maybe a few 3-4 day trips and one longer week long trip per year. Hopefully visiting with future grandkids.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by SQRT »

TheTimeLord wrote: Wed Jan 29, 2020 8:52 am
When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.
I didn’t have a very clear idea how retirement would play out before actual retirement either. I just thought more freedom to travel and work out. Took a couple years to get into the swing of it, You seem like an intelligent guy and I’m pretty sure you will figure it out. In my case the only rule was “boredom is not an option”.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by MandyT »

TheTimeLord wrote: Wed Jan 29, 2020 8:52 am When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.
I don't understand. I thought you tried early retirement and were bored out of your mind, so you went back to work. Recently, you said that your favorable financial position had prompted you, not to accelerate retirement plans, but to postpone them indefinitely. Doesn't seem to require a lot of imagination; maybe you're one of those people who will be happier if you never retire. You've said several times that everything you want to do, you can do while you're working. Great; you do you. Other people having different preferences doesn't make us right and you wrong, or vice versa. (It's hard for me not to detect a note of "What do you people do all day?" in the quoted passage.)

I was in a job that went in a couple years from being fairly laid-back to monopolizing all of my time and energy. Then a benefits quirk removed the repeating "one more year" option from me: if I didn't retire at 55, I was going to have to wait until 60, and I was pretty sure I didn't have five more years in me at the rate things were going.

I'm delighted to be retired. I recently moved 100 miles to a large Midwestern city with lots of musical groups to play in and concerts, shows, and sporting events to attend--and I can be home well before midnight! I couldn't necessarily itemize how I spend each day, but I'm never bored. And I'm blessed with the kind of personality that (1) enjoys social interaction, but doesn't need much, and (2) is grateful every day for all of the good things I have, including the reduced stress that comes from not being in the rat race nor needing to commute to it.

It could be that, at some point, something will change and you'll know it's time to retire. Until then, to infinity and beyond! :sharebeer
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by TheTimeLord »

MandyT wrote: Fri Jan 31, 2020 6:08 pm
TheTimeLord wrote: Wed Jan 29, 2020 8:52 am When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.
I don't understand. I thought you tried early retirement and were bored out of your mind, so you went back to work. Recently, you said that your favorable financial position had prompted you, not to accelerate retirement plans, but to postpone them indefinitely. Doesn't seem to require a lot of imagination; maybe you're one of those people who will be happier if you never retire. You've said several times that everything you want to do, you can do while you're working. Great; you do you. Other people having different preferences doesn't make us right and you wrong, or vice versa. (It's hard for me not to detect a note of "What do you people do all day?" in the quoted passage.)

I was in a job that went in a couple years from being fairly laid-back to monopolizing all of my time and energy. Then a benefits quirk removed the repeating "one more year" option from me: if I didn't retire at 55, I was going to have to wait until 60, and I was pretty sure I didn't have five more years in me at the rate things were going.

I'm delighted to be retired. I recently moved 100 miles to a large Midwestern city with lots of musical groups to play in and concerts, shows, and sporting events to attend--and I can be home well before midnight! I couldn't necessarily itemize how I spend each day, but I'm never bored. And I'm blessed with the kind of personality that (1) enjoys social interaction, but doesn't need much, and (2) is grateful every day for all of the good things I have, including the reduced stress that comes from not being in the rat race nor needing to commute to it.

It could be that, at some point, something will change and you'll know it's time to retire. Until then, to infinity and beyond! :sharebeer
I was, and I have but postponed indefinitely just means I am not putting a date on it or setting it as a goal. I just found that tended sew dissatisfaction. But at some point I will wake up and think time to move on. or my employer will wake up and think time to move, either way change will happen.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
tphp99
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by tphp99 »

TheTimeLord wrote: Tue Jan 28, 2020 1:29 pm I have a question for those in early FIRE or planning on early FIRE. 5 years in, what you you see yourself doing daily? I get the excitement of it when it is new, but 5 years in what do you see an average day being like?
If you're not ready to retire, I can completely understand. I was in your shoes last year, I was 51 with enough to retire, but I figure I'd just keep plugging along until I couldn't (maybe late 60s, early 70s). Work was great 90% of the time, the 10% that sucked I didn't have a solution for so I just accepted it. Couldn't really "see" what retirement for me would be like because I thought I work until I drop for no reason other than: "Why not?" "I'm good at what I do" "I make a boat load of money" "What am I going to do with all the extra time?"

But, I was offered a buy out that took me by surprise. So here's what I came up with. Even if I worked until I'm 70, my life would not look that different. I might be able to buy more cool toys, bigger house, maybe give more. But the thing is I already have enough toys, house is big enough, we already give until we feel good. Working until I'm 70 will not bring me to the next level of wealth: private jet, private island, personal limo driver. So I took the offer.

I have to admit, there has been moments of weakness where I'd consider offers to work / moonlighting on a part time basis. Former associates would call with opportunities to come back to work. I kept reminding myself that I do not need the money. It was more of a habit thing, working. It was more of a "that would be a cool job to take on." So far, I've turned down all offers.

It's been 10 months and the desire to go back to work has lessened considerably. I can't say that I'll never work again, but I can say I'm not bored in retirement. Will I be doing the same thing in retirement five years from now? Who knows. But then who cares. I'm the same person with the same habits, same OCD ways. So instead of directing my OCD towards something at "work", I'm spending just as much energy and attention to whatever it is that I might "working" on in retirement. Hope that make sense.

I'm not going to list what I do on a daily basis because it would be meaningless to you. We can't possibly have the same interests. But I can tell you I'm just as excited attacking a new day now in retirement as I was when I was coming into the office. I loved what I did, but I don't have to do that, not anymore.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by prairieman »

A little past 3 years and mostly the same things as right after:
(1) Taking care of my body, house, yard, wife, grown kids, and parents.
(2) Traveling abroad twice a year
(3) Learning stuff - mostly history and science. I really love podcasts and audible books that can be listened to while going on long walks.
“As long as the roots are not severed, all is well.” Chauncey Gardner
flaccidsteele
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by flaccidsteele »

TheTimeLord wrote: Fri Jan 31, 2020 8:46 pm
MandyT wrote: Fri Jan 31, 2020 6:08 pm
TheTimeLord wrote: Wed Jan 29, 2020 8:52 am When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.
I don't understand. I thought you tried early retirement and were bored out of your mind, so you went back to work. Recently, you said that your favorable financial position had prompted you, not to accelerate retirement plans, but to postpone them indefinitely. Doesn't seem to require a lot of imagination; maybe you're one of those people who will be happier if you never retire. You've said several times that everything you want to do, you can do while you're working. Great; you do you. Other people having different preferences doesn't make us right and you wrong, or vice versa. (It's hard for me not to detect a note of "What do you people do all day?" in the quoted passage.)

I was in a job that went in a couple years from being fairly laid-back to monopolizing all of my time and energy. Then a benefits quirk removed the repeating "one more year" option from me: if I didn't retire at 55, I was going to have to wait until 60, and I was pretty sure I didn't have five more years in me at the rate things were going.

I'm delighted to be retired. I recently moved 100 miles to a large Midwestern city with lots of musical groups to play in and concerts, shows, and sporting events to attend--and I can be home well before midnight! I couldn't necessarily itemize how I spend each day, but I'm never bored. And I'm blessed with the kind of personality that (1) enjoys social interaction, but doesn't need much, and (2) is grateful every day for all of the good things I have, including the reduced stress that comes from not being in the rat race nor needing to commute to it.

It could be that, at some point, something will change and you'll know it's time to retire. Until then, to infinity and beyond! :sharebeer
I was, and I have but postponed indefinitely just means I am not putting a date on it or setting it as a goal. I just found that tended sew dissatisfaction. But at some point I will wake up and think time to move on. or my employer will wake up and think time to move, either way change will happen.
It doesn’t take much imagination to picture what retired life is like. It’s exactly how you experienced it

People just do what they want until they decide otherwise
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
MoonOrb
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by MoonOrb »

TheTimeLord wrote: Wed Jan 29, 2020 8:52 am When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.

What do you do when you have a long weekend? Do you enjoy those things?

Anyway, my plans are to do extensive travel.

When not traveling:

Get up early and go to the gym. Spend time reading. Spend time writing. Do projects around the house. Practice photography. Spend time visiting with friends. Take naps. Cook with fresh ingredients.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by jsprag »

Cheez-It Guy wrote: Tue Jan 28, 2020 7:12 pm Early Financial Independence Retire Early.
Which begs the question: Can there be a late FIRE (L-FIRE)? Or do the L and E cancel out and become FIR?
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Olemiss540 »

JoeRetire wrote: Tue Jan 28, 2020 2:44 pm
I'm wondering how "retired" you need to feel while working, and how "early" it needs to be to apply the term FIRE?
What do you think? I won't judge regardless of your answer. Someone having a different opinion from mine does not automatically mean they are wrong or that they need to be right.
I hold index funds because I do not overestimate my ability to pick stocks OR stock pickers.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by JoeRetire »

Olemiss540 wrote: Sat Feb 01, 2020 6:52 am
JoeRetire wrote: Tue Jan 28, 2020 2:44 pm
I'm wondering how "retired" you need to feel while working, and how "early" it needs to be to apply the term FIRE?
What do you think? I won't judge regardless of your answer. Someone having a different opinion from mine does not automatically mean they are wrong or that they need to be right.
(shrug) I've never used the term FIRE in personal communication.

If anyone asked, we had always said that we would probably retire around 65.

But I actually retired at 60. If anyone asked, I said that I was retired.
At 61, I worked two days per week consulting. If anyone asked, I said that I worked part-time.
Then I stopped working part-time at 62. When anyone asks, I now say I'm retired.

My wife left her job when she was 63 and we moved. If anyone asked, she said she was retired.
Later that year, she decided to work two days per week. If anyone asks, she now says she works part-time.

Was any of that "Early"? I don't know. I don't care.

I don't know at what point we became Financially Independent. When I started to dig in to our finances seriously sometime in my 50s, I learned that we already had enough money to retire if we chose to do so. But we didn't choose to retire at that point.

Did we ever "FIRE"? Don't know. Don't care.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by jebmke »

JoeRetire wrote: Sat Feb 01, 2020 8:37 am I don't know at what point we became Financially Independent. When I started to dig in to our finances seriously sometime in my 50s, I learned that we already had enough money to retire if we chose to do so. But we didn't choose to retire at that point.

Did we ever "FIRE"? Don't know. Don't care.
This was exactly my situation. I have to confess I didn't plan anything, financial or personal. If I retroactively try to consider what I may have thought at 45 or 50 what I would be doing in my 60s, it would turn out to have been all wrong. I probably would have predicted I would be spending my time as a retiree doing things I enjoyed in my leisure time then. It simply didn't turn out that way. In some respects I am glad I had no preconceptions because it prevents any disappointment.
When you discover that you are riding a dead horse, the best strategy is to dismount.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by JoeRetire »

jebmke wrote: Sat Feb 01, 2020 8:49 amI probably would have predicted I would be spending my time as a retiree doing things I enjoyed in my leisure time then. It simply didn't turn out that way. In some respects I am glad I had no preconceptions because it prevents any disappointment.
Oh, I'm sorry to hear that. Do you want to elaborate? (No pressure, your choice)

I enjoyed my career(s), but I'm also very happy with my retirement.
It's the end of the world as we know it. | It's the end of the world as we know it. | It's the end of the world as we know it. | And I feel fine.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by visualguy »

I find that it's easy to fritter away time. I had no problem finding ways to pass time when I attempted retirement. It's easily possible to make things like chores, errands, taking care of the house, web surfing, exercising, a hobby or two, some travel eat up all your time. Looking back at a period like this, though, it felt to me like the time was wasted and I couldn't account for it - it just passed without leaving much of a trace in my memory. I decided that truly early retirement wasn't for me, although I can see myself retiring a bit early, such as 60.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by Cheez-It Guy »

jsprag wrote: Sat Feb 01, 2020 4:18 am
Cheez-It Guy wrote: Tue Jan 28, 2020 7:12 pm Early Financial Independence Retire Early.
Which begs the question: Can there be a late FIRE (L-FIRE)? Or do the L and E cancel out and become FIR?
It all depends on your PIN number.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by toocold »

When I ask a question like this it is basically because I am wondering if I lack the imagination to properly picture how things would be.
I've always wanted to try a bunch of things but I found my job limiting because I didn't have time or energy. I liked my job but I never let it define who I am. For this reason, FIRE appealed to me.

I think if I didn't have many interests and/or I needed a job to occupy my time or pursue my life's mission, FIRE wouldn't appeal to me.

Most people who pursue FIRE actually pursue FI.
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by CrazyCatLady »

I don't know if I could handle a retired time lord. I remember reading your OMY posts back when I was just lurking :)
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Re: I have a question for those in early FIRE or planning on early FIRE

Post by MikeG62 »

OP, here is a similar thread perhaps worth reading for more insights from folks who have been retired for several years...

viewtopic.php?f=2&t=300739&p=4956067#p4956067
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