KF's simple rules to achieve FI [Financial Independence]

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JBTX
Posts: 3105
Joined: Wed Jul 26, 2017 12:46 pm

Re: KF's simple rules to achieve FI [Financial Independence]

Post by JBTX » Tue May 15, 2018 9:50 pm

marcopolo wrote:
Tue May 15, 2018 8:38 pm
JBTX wrote:
Tue May 15, 2018 6:58 pm
marcopolo wrote:
Tue May 15, 2018 6:20 pm
JBTX wrote:
Tue May 15, 2018 2:26 pm

It is just personal philosophy, but I don't get why people hate work so much. I don't know that I've ever loved my job, but compared to not working, I'd rather work, stay stimulated, and make some money. Not working to me gets boring, and most things that I would find stimulating cost money, which I don't have if I don't work.
It is personal philosophy. So, I am not sure what you don't get. Some people love their jobs, some like them OK, others hate them.
Based on that they make different choices about how long they continue to work.

Do you love your job enough that if you had enough money to do the other things you enjoy, you would still keep working? If so, that is great, but i think you would be in a relatively small minority.

I don't think it is that people hate work so much, at least for me, it is that there are so many other things I like to do with my time.
I spent a number of years trading my time for money. In early retirement, I am now trading back some of that money for time, to do other things i enjoy more. I very much enjoyed my career, but now it is on to a new phase of life.
I understand, to each his own. But at least for me, many of the things I enjoy would cost money. Travel, eating out, etc. etc. Instead, it seems like the philosophy here, among some, is to get to retirement as fast as you can, then live on a thrifty budget for the rest of your life. I guess I am not in that camp.

When I was in my 20's and early 30's, early retirement seemed a wonderful goal, because you are more caught up in all the trappings of a your career. Will I get promoted, get a raise? WIll I be recognized? How come Bill was promoted before me! I hate Jill because she is an idiot but out ranks me. I think we should do X, but then the company did Y!!! My philosophy is completely different now. If I do work, it should be somewhat challenging and tolerable, and hopefully I am adding some value. I recognize other employees have their own motivations and agendas, and I try not to get worked up over it. They are just people. It doesn't matter. The company can do what it wants to do. It doesn't bother me. Now if someone is shouting in my face, then yes, that ain't gonna fly, but ultimately I am not a slave to any job I do, and can walk if it were ever to get that bad.

I recently had an engagement where I liked the company and people, but struggled to find work. Ultimately they gave me a project that I found completely unpalatable. I decided to politely end the engagement.
I agree with you on most of this. I planned for a level of spending in retirement that is significantly higher than what it was before hand, knowing I would be doing a lot more things that might cost money. I did not walk away from my career, which I thoroughly enjoyed, until I felt I had sufficient portfolio to support that higher spending.

But, as much as i enjoyed my career, I did not have the love/passion for it to keep doing it after a certain point. I can understand why others would make different decisions. Each person has to find their own trade-off.
I largely agree. I don’t love my work. At times I enjoy it, other times it is tolerable. But it does keep me engaged and with a purpose. Frankly there isn’t anything else out there that I am just aching to do. I’d like to travel some, but with 2 teenagers my opportunities are limited. And I doubt travel for me would be cheap. Also, with a special needs kid, it is really hard to determine how much savings is “enough”.

I haven’t worked a lot over the past 12 months. The time off has been nice and somewhat productive, but it isn’t self actualizing. I’m ready to get back to work.

JustinR
Posts: 567
Joined: Tue Apr 27, 2010 11:43 pm

Re: KF's simple rules to achieve FI [Financial Independence]

Post by JustinR » Tue May 15, 2018 10:13 pm

JBTX wrote:
Tue May 15, 2018 2:26 pm
I think it is laudable that you are preparing for the worst case, that you can't get a suitable job when you are 50+. However, I would think if you still had a job at that point, unless it is absolutely terrible, you'd milk it for all its worth. Seems like you've finally found something your good at, so why throw in the towel after 17 years, unless it is forced upon you?

It is just personal philosophy, but I don't get why people hate work so much. I don't know that I've ever loved my job, but compared to not working, I'd rather work, stay stimulated, and make some money. Not working to me gets boring, and most things that I would find stimulating cost money, which I don't have if I don't work.
You don't have to live frugally after you retire early.

It's called "Fat FIRE", where you set your retirement number to be more (maybe 1.5-2x as much) than your expenses, so when you retire you can spend more than you do now.

Also, people don't want to work because they don't want to spend 2/3 of their waking hours in their life on an obligation just so they can "enjoy" the other third.

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