- Location
- East Stabbington
I just learned I'm not normal.
Once again I'm the catalyst for all sorts of personal growth. Everyone is welcome at the Democratic Republic of Codeganistan.
Let's talk about the F.I.R.E. movement (Financially Independent, Retire Early).
- Thread starter spaggyroe
- Start date
Once again I'm the catalyst for all sorts of personal growth. Everyone is welcome at the Democratic Republic of Codeganistan.
- Location
- Never Far From Nowhere
I'm sure I'll be stopped at the border.Once again I'm the catalyst for all sorts of personal growth. Everyone is welcome at the Democratic Republic of Codeganistan.
- Location
- Grantsville, Utah
Cody, you would make an awesome commentator on any subject, regardless of your knowledge on that subject. I personally think a podcast by you would be a smash hit.
I guess I fall a little bit into the business owner category (sort of) and don't plan on an early retirement, but do believe in investing along the way. Maybe I have a sick sense of morbidity, but I enjoy solving the problems I face at work. Even when the sh!t hits the fans and you can't see which way is up, working through the issues and growing the business to something larger than me brings me a sense of purpose and joy. My current goal is to continue to pour soul, sweat, blood, and tears, into the business for the next 10 years hoping to grow revenues and profit from where we are at now and reevaluate my goals at that time after decreasing my personal leverage. As time goes on, I hope to be able to gain more and more freedom in the business and it hopefully won't need me as much in the future, but I intend to be a part of it as long as it is still fun for me and I'm looking at the long haul but investing in the short game too.
As far as my money strategies, I believe opportunities always find those that are ready to take advantage of them. I was given a copy of The Richest Man in Babylon by George Clason (which I recommend to anyone!) as I started college and have been grateful to almost always have been separating out 10% of my income to "pay myself first" and invest in the future along the way. As my income has grown so has the ability to invest both in continued deferment and from returns on investments. I have done this to be able to invest in commercial real estate opportunities, and continually place a small amount into a separate stock/BTC fund that started as fun area to play around in the markets, and is growing more than I thought it would in the amount of time invested (however, it is also far more risky than I would feel good about investing my whole savings in). I also defer enough money to max out the employer match of our 401k and max out our HSA contributions each year which grow with the market and will hopefully allow flexibility with medical costs as they grow with age. I am also now in the process of purchasing a portion of the business I work for from my father.
As I become more financially stable, I have definitely been investing in more fun as well. I hope to continue to invest in more and more experiences along the way rather than live in a miserly misery, but I will also continue to invest financially as well as opposed to spend it all. So maybe I take a middle of the road outlook? I feel like we are further ahead in retirement than many my age (35), but I also have no plan to retire early.
As far as my money strategies, I believe opportunities always find those that are ready to take advantage of them. I was given a copy of The Richest Man in Babylon by George Clason (which I recommend to anyone!) as I started college and have been grateful to almost always have been separating out 10% of my income to "pay myself first" and invest in the future along the way. As my income has grown so has the ability to invest both in continued deferment and from returns on investments. I have done this to be able to invest in commercial real estate opportunities, and continually place a small amount into a separate stock/BTC fund that started as fun area to play around in the markets, and is growing more than I thought it would in the amount of time invested (however, it is also far more risky than I would feel good about investing my whole savings in). I also defer enough money to max out the employer match of our 401k and max out our HSA contributions each year which grow with the market and will hopefully allow flexibility with medical costs as they grow with age. I am also now in the process of purchasing a portion of the business I work for from my father.
As I become more financially stable, I have definitely been investing in more fun as well. I hope to continue to invest in more and more experiences along the way rather than live in a miserly misery, but I will also continue to invest financially as well as opposed to spend it all. So maybe I take a middle of the road outlook? I feel like we are further ahead in retirement than many my age (35), but I also have no plan to retire early.
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You're not the only one... I have been through a handful of job transitions in the last 5 years, and I have noticed a pattern that I am least passionate and find the least amount of job satisfaction when everything is going smoothly, and I'm not really challenged anymore.
- Location
- Sandy, Ut
A couple mil in the bank shedding off enough to keep me comfortably playing. I would travel more, hunt exotic Land Cruisers and hang out on beaches with the Mrs.
- Location
- East Stabbington
Enough streams of passive/semi-passive income to be able to live the way I want. That's not super extravagant, but like Kurt, enough to maintain a steady diet of travel, leisure, and fun/interesting side projects.
- Location
- Grand Junction, CO
I would love to be able to retire at 57, instead of 60. I know that's not a big difference looking at the numbers, but it really is. That's 12 yrs away! I'd have 30 yrs vested with my RR retirement and would qualify for a full retirement at that point... but couldn't draw until I'm 60 yrs old. So I'd need enough money in the bank to live on for 3 years... so shooting high, say $200k? That's actually quite possible.
I have my Vanguard 401k that is doing well, it's essentially my secondary retirement acct that I've been growing aggressively. My biggest hesitation has to do with the gains that you see, the longer you let compounding interest work. I'd hate to start drawing and taking away from those big gains in order to retire early.
Our plan is to travel as well, we actually want to live in a foreign country (Costa Rica, Chile, Italy) for a year or so and then relocate and try something different. Minimalist living making it easy to move, get out often to explore, enjoy different cultures, etc. I'm sure there will be plenty of 4x4 adventures along the way. I'd also like to have a truck/camper setup that we could live out of, head North in the Summer and South in the Winter. I want to explore British Columbia, Alaska and head down into South America.
It would be nice to have a lock & leave home in a rural, snow-free location that we can come back to when we're tired of traveling. Somewhere safe & quiet.