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Building a vision of life without work (2015)

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271–280 of 436 posts

Re: Building a vision of life without work (2015)

#271

I did it: I retired at age 40 with a net worth of about $5M. That was eight years ago. I diversified most of it, but I made two concentrated bets with a fraction and both of them were home runs. Now I'm above $5M. I have enough money to do whatever I want and my withdrawal rate is less than 1% annually. (I don't have expensive or flasy taste.) One of the things that I didn't expect (but that this article and some oth…

How did you acquire the initial $5M? Sell a start-up? Lucky investment? Or did you have a high salary?

Re: Building a vision of life without work (2015)

#272

Earlier quoted context omitted.

I would feel like a king with 20k a year and so I am trying to find the right degree to work 3, maybe 2 days a week to be able to achieve this? Any suggestions?

> I would feel like a king with 20k a year and so I am trying to find the right degree to work 3, maybe 2 days a week to be able to achieve this? 20k? did you miss a digit? That's less than my rent for the year... for 3 days anything that pays more than $18 an hour and allows for flexible scheduling you don't need a degree for this. Medical transcription, coding and billing, working as a PA, Truck driving, nursing th…

This person likely lives in a different place than you

Re: Building a vision of life without work (2015)

#273

Earlier quoted context omitted.

See this is still blaming the problem on some kind of externalized illogical other you aren’t willing to understand (just replace “partner falling for Instagram lies” with neckbeardy EvPsych) rather than empathizing with the other person’s opinion. Like if your partner directly tells you they are unhappy because of XYZ, rather than thinking it’s stupid/some part of how the woman brain works (eye roll), it seems prett…

Wife was saying “I feel like we should both work again” and his response was “OK, how about you work? I’m good.” I’m not surprised at all at what happened.

Well, it's a perfectly reasonable response.

Re: Building a vision of life without work (2015)

#274

Earlier quoted context omitted.

Got to admit that watching people struggle with the question of what to do without a job to fill their time is just completely wild to me. It is difficult for me to imagine someone who has so little they want to do outside of work that they can't easily find ways to fill up the 8+ hours a day their job takes from them. I have a list of things I'd like to do a mile long that I know I'll never actually find time to do…

I am in the same boat. I am 6 months into FIRE, and the list of things to do is growing, not shrinking. However, I would say that some things on the list turn out to be false. That is, I like the idea of doing them, but not enough to actually do it. So do account for some of your post FIRE ideas turning out to be just daydreams you aren't actually committed to.

Not something I really have to worry about since, unless I find out I have a fatal disease, FIRE is not a realistic possibility for me.

Re: Building a vision of life without work (2015)

#275
post #67

I was 2nd employee at a unicorn startup and have been on a work-hiatus for almost a year. Now, I live amongst Amish people in the country. My biggest insight has been a mindset change. Previously my underlying approach to life looked like: "I will do X which will enable me to do Y so that I can finally do Z." I now approach my days with "What will make me happy?" This is an experiment I'm performing. A structured lif…

This is EXACTLY why I am so hell bent on retiring early. I recognized this aspect of my being very early on in life. My interests come and go, but they are strong. I am capable of achieving anything when my mind is truly interested in it but unfortunately my mind grows bored with things eventually. In retirement, I would just pursue whatever interests me at the time! Whether its software, hardware, automotive, or jus…

You realize that X equals „work until you have enough to retire“, Y is „retire and find hobby“ and Z equals „pursue hobby“?

Re: Building a vision of life without work (2015)

#276

Earlier quoted context omitted.

This is where assumptions can get you in trouble. The Amish are extremely business savvy, shrewd negotiators, and have no issues being active members in the economy. They also own vast tracts of very valuable land (especially in Lancaster, PA). Combine that with being frugal and austere, and it's a recipe for wealth. For childcare, their community focus let's them share the burden amongst the larger group. Additional…

Amish are pretty much like everyone else though, there are dirt-poor Amish communities out there to counter-balance your land-and-small-business-rich ones.

Fair, though the childcare aspect still holds merit.

Re: Building a vision of life without work (2015)

#277
One thing we've lost in the transition to two-earner families with the expectation that everyone has a career is exactly what's coming up in this thread:

1) People derive a lot of meaning from their interactions with other people.

2) For most people (at least, most people reading blogs like this) today, that meaning comes from employment, from the exchange of time for money in the service of others.

But pre-television, and in many parts of the world still today, people gather socially for many reasons other than the strict definition of work above.

The rat in the race doesn't know what to do when the race is over, because all the other rats are still in the race, and he's never been outside before.

The list in this post is about how to make the outside world look like the race you just left: Do things! Find people to do them with! Get out of your comfort zone!

These are mechanisms for people without strong social and community ties to fill their time.

I would encourage anyone in this situation to consider what aspects of their prior race-like lives they would like to lose first, and to find communities they would like to belong to. Some of those many be activity-oriented, and there's nothing wrong with that, but they don't have to be interesting activities.

Re: Building a vision of life without work (2015)

#278
post #267
post #187

Earlier quoted context omitted.

How do you get 2.5M in an IRA if they only let you put in 6K a year? Can you buy dogecoin in an IRA?

The 6k limit is for a Roth IRA, which is only one kind of IRA.

Seems to apply to both:

> The 2021 limit for contributions to Roth and traditional IRAs is $6,000

https://www.investopedia.com/roth-and-traditional-ira-contri...

Re: Building a vision of life without work (2015)

#279
post #232

Earlier quoted context omitted.

> they might be better off scaling back to a sustainable 40hr/week job 40hr/week is the unsustainable part.

That's only 24% of your time most weeks, even less on weeks when you have holidays or vacation. What's unsustainable? In fact many people have done it their whole adult lives, which makes it sustainable by definition.

It may be 24% of time, but it's something like 70% of my energy. Add chores on top of that and there's barely any energy left for discretionary activities.

Re: Building a vision of life without work (2015)

#280
post #50

If it's difficult to envision yourself without work, then you probably put too much of your identity into your work. Maybe that's not a bad thing if you truly love your job, but for most of us that is a huge mistake. Finding passions outside of work and approaching ideas as a child would is the simplest way to phrase the solution. As a child everything is new and exciting, it's easy to entertain yourself (quite cheap…

Ah, I can do this too: If it's easy to envision yourself without work (or a passionate constructive hobby like art or writing), you're probably not a very interesting person.

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