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Early-Retirement Update

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Re: Early-Retirement Update

#321

Post by yladiz »

tasuki wrote: post #318
silicon2401 wrote: post #204

Earlier quoted context omitted.

> "Making music" they never release. Picking up little "pass the time" jobs. And these are people that aren't living "leanFIRE" > It seems like such a nihilistic way to live. You're just floating along the stream of life. Things worked out for you, but you have no further passion or inclination to improve the world? No problems you could set yourself to solving? You seem to assume or take for granted that releasing m…

So, castle or farm? You can't just handwave this question away so easily! Would you hire people to take care of the castle or farm for you? I hear both are quite a lot of work! How exactly would you be spending your time, apart from making music?

I'm not that commenter, but if I won the lottery, like the big one, I'd buy a castle, gild one toilet, and Instagram the shit out of it, pun intended. Then I will never have to work again because I'll become an Influencer.

Re: Early-Retirement Update

#322

Post by kyteland »

PragmaticPulp wrote: post #230
neogodless wrote: post #206

Earlier quoted context omitted.

My understanding was that they had separate finances, and 30k/year was just his spending. My spouse and I spend less than $60k/year in a comparable cost-of-living area (COLA), including flights/hotels/entertainment and other nice things to have (home, some land, modern cars, monthly massage, etc.). It's really not "extreme frugality" in my point of view, but I suppose some might see it that way.

There's a big difference between spending $60K/year on average, and having a firm upper limit of $60K/year that can never be exceeded for the entire rest of your life (inflation adjusted), lest your entire financial plan collapses. If you had an unlucky year and had to spend an extra $10K on various things (car breaks down, medical expenses, moving for a job) it's probably not a big deal for you. If a leanFIRE person…

I think this was covered in the article. His assets have grown 20% (inflation adjusted) since retiring and that's with a number of years having higher than average expenditures due to unplanned medical issues. His financial plan didn't really collapse per se.

Re: Early-Retirement Update

#323

Post by _carbyau_ »

hindsightbias wrote: post #308
psychiatrist24 wrote: post #130

Earlier quoted context omitted.

I regret that I never worked as a waiter in a cafe, and now it looks as if I can't afford it anymore. Or if I could afford it, I would be taking away the job from people who have a more urgent need for it than me.

There should be a class of jobs for retirees just working for health care and socialization.

So much this.

Everyone gets old. How can we not want a society that would take care of them, including some form of worthwhile employment?

It is an inherently selfish setup as one day you too will be old.

Edit: trying to clarify my thoughts/point.

Re: Early-Retirement Update

#324

Post by tjs8rj »

beambot wrote: post #145
dimmke wrote: post #102

Earlier quoted context omitted.

I've had friends with trust funds, who just seem to dither around in life. "Making music" they never release. Picking up little "pass the time" jobs. And these are people that aren't living "leanFIRE" It seems like such a nihilistic way to live. You're just floating along the stream of life. Things worked out for you, but you have no further passion or inclination to improve the world? No problems you could set yours…

Elon Musk's life is at the opposite extremum of "floating through life." The man works 90+ hours per week, gambled his entire fortune on two risky hardware companies, serves as a prominent public figure, and destroyed many of his close personal relationships (e.g. remarried numerous times). He's having tremendous impact; I respect him like crazy & would happily back his endeavors... But I wouldn't wish for his lifest…

I’d be very surprised if Elon consistently works more than 60 hours a week, and pretty surprised if it was more than 50. It’d be a waste of his position and talent if he did. He has the capital and influence to have others do almost all other tasks, his main focus is likely to be on longer term strategy and thinking. He’s also a dad of 5 or so kids. His health is far more valuable than working 2 typical work weeks every week.

He plays up the uberworker shtick for the same reason Warren Buffet in his 80s tells everyone he has a coke and Dairy Queen everyday: because it’s part of his brand and very conducive to moving forward his pursuits. Warren buffet definitely doesn’t have coke and Dairy Queen everyday either.

Elon’s days of working to the bone everyday are likely long behind him, by decades.

Re: Early-Retirement Update

#325

Post by sidlls »

abraxas wrote: post #255
TuringNYC wrote: post #114

Earlier quoted context omitted.

>> ...still need health insurance...without insurance.. I think the point is that even with health insurance you can be wiped out. I dont think any reasonable definition of FI/RE would suggest being without health insurance. The thing is that in a small % of cases, even with health insurance, you get one bad examiner, one by-the-books administrator who denies coverage for something, and you're done for.

Some of those dudes (eg MMM) do go without health insurance. Personally I think they are nuts unless they are OK to pack it in the moment their appendix bursts.

MMM is almost certainly wealthier than he lets on, started from a position of wealth more than he lets on, and derived substantial income in his “retirement” from his work on his site.

Re: Early-Retirement Update

#326

Post by cercatrova »

yladiz wrote: post #321
tasuki wrote: post #318

Earlier quoted context omitted.

So, castle or farm? You can't just handwave this question away so easily! Would you hire people to take care of the castle or farm for you? I hear both are quite a lot of work! How exactly would you be spending your time, apart from making music?

I'm not that commenter, but if I won the lottery, like the big one, I'd buy a castle, gild one toilet, and Instagram the shit out of it, pun intended. Then I will never have to work again because I'll become an Influencer.

*Gild, geld means to castrate an animal.

Re: Early-Retirement Update

#327

Post by ChuckMcM »

ChuckMcM wrote: post #262

I liked this piece. It is well written and the author has good self awareness which is helping them in their journey. I also see in it a common question which the author hints at but doesn't seem to land on, "What is my purpose?" I get emails from people sometimes who write "I want to be rich! Tell me how to do that." and I always ask them "Why do you want to be rich?" It is however also the question the FIRE folks s…

A couple of people pointed out to me that the author had already said they felt their purpose was to be a writer, and they have taken classes on writing.

I spent some of my time while walking thinking about those comments and came up with the following thought; The author made those statements in a nearly 10,000 word blog post. So in many ways they are already a writer.

The difference I was trying to communicate is that a "purpose" in this case, which involve writing, might be "I want to share important stories that are impactful in people's lives." or "I want to entertain people with stories of fantastic worlds." or "I want to help people understand complex subjects without having to wade through tons of irrelevant things."

Those kinds of statements are purposes that are achieved through writing.

For me, the litmus test for whether something is a "purpose" or simply a "skill" is that a "purpose" generates tasks in service to that purpose. Skill building improves your ability to execute on those tasks.

I know, kinda meta.

Re: Early-Retirement Update

#328

Post by pcglue »

kelnos wrote: post #283
pcglue wrote: post #184

2.8M nut, about 50/50 in regular/retirement accounts. I'm mid 40's, married with two pre-teen kids, annual expenses of $80K, live in HCOL area (Southern California). Would you FIRE in this situation? Would you take a year long hiatus? As much as I would like to FIRE, I can't/won't, even though the "numbers" say I probably could. But seriously considering a months to year long career break/sabbatical/hiatus, because I…

As others have pointed out, try to get a financial advisor who can look at your situation and give you some objective advice. But also understand that you're probably not going to make the best decisions about this from the perspective of extreme burnout. First step might be to talk to your boss about your workload and see if there are some changes that can be made to make you happy again. If that doesn't pan out, ma…

Thanks for your reply. It really encapsulates all the best advice I've gotten from all places.

> But also understand that you're probably not going to make the best decisions about this from the perspective of extreme burnout.

I'm (overly) aware that my burnt out state may not lead to the best decisions. That's why I'm stepping cautiously and not making any rash changes.

> First step might be to talk to your boss about your workload and see if there are some changes that can be made to make you happy again.

I'm currently in talks with management to see what can be done. It's not really the workload, but the type of work I'm doing that's been the problem. But because I'm burnt out and diminished, the normal workload which is not normally a problem is becoming one. But I also fear I'm just too burnt out to remain working here in any capacity.

I'm gearing myself up to find another job, to avoid having to job hunt while unemployed in my 40s, and hopefully be able to take a month or two before starting. Job hunting/interviewing is hard in the best of circumstances; it's doubly so in my current burnt out state.

> [Long runway, can retrain in another field]

Also under consideration. Front-runner is GIS. Always had an interest doing geo-analysis/maps.

Re: Early-Retirement Update

#329

Post by cortesoft »

Trasmatta wrote: post #11

This was a really refreshing and honest take on early retirement, especially among the FI blogosphere. > I looked at other FI bloggers who quit work and retired. They all appeared to be blissful. Stoic. Confident and without reservations. Since I ran into problems myself, I started to feel like I was defective. Like something was wrong with me and that’s why it didn’t work so well. Maybe it has to do with my personal…

I really found this passage of the essay ironic.... he talks so much shit about his partner and other people needing to "keep up" with the rest of society and how he isn't like that.... but then he actually does feel the need to keep up with HIS community, which is the FI crowd.

I hate when people confuse not wanting to belong to and impress a particular community with not wanting to belong to or impress ANY community.

He is just like everyone else, just in a different group.

Re: Early-Retirement Update

#330

Post by yladiz »

cercatrova wrote: post #326
yladiz wrote: post #321

Earlier quoted context omitted.

I'm not that commenter, but if I won the lottery, like the big one, I'd buy a castle, gild one toilet, and Instagram the shit out of it, pun intended. Then I will never have to work again because I'll become an Influencer.

*Gild, geld means to castrate an animal.

Thank you
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