What are your thoughts about FI/RE Financial Independence Retire Early. Is it a scam or is it possible? Any experience?

Cognizant / ConsultantFsoQ35
Mar 13 29 Comments

What are your thoughts about FI/RE Financial Independence Retire Early. Is it a scam or is it possible? Any experience?

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TOP 29 Comments
  • Dropbox westward
    It's just math.... Mostly predicated on the ability to control your spending.
    Mar 133
    • New BBear
      I wish I could like this comment twice. So true.
      Mar 13
    • Microsoft
      ๐Ÿ™M๐Ÿ™

      Microsoft

      BIO
      ๐Ÿ™
      ๐Ÿ™M๐Ÿ™more
      And to not have kids
      Mar 13
    • Amazon / MgmtDb8db4
      "And to not have kids" -> "It's just math.... Mostly predicated on the ability to control your spending."
      Mar 13
  • Wayfair str(10)
    How would it be a "scam"?
    Mar 132
    • Cognizant / ConsultantFsoQ35
      OP
      Scam as in its tough to cover all future expenses.. i have read blogs on both sides whats your view..
      Mar 13
    • Snapchat BigCoin
      There are multiple ways to achieve FIRE depending on what u r comfortable with. It sounds like in your case, you are probably more cautious (I am as well); but a lot of people have a higher risk tolerance. Note that ironically creating a successful FIRE blog will general some passive income and potentially let you achieve FIRE (again, everyone has different definitions, so you will have to pick carefully what kind of FIRE u want).
      Mar 13
  • Oracle / Other}{{
    I liken it to the whole global warming thing. Even if you believe it doesn't exist, is cleaning up the planet going to leave us worse off?

    Likewise, even if you believe you're not going to retire early, you're still setting yourself up for success later in life.

    Compounding interest is one of most amazing things at our disposal. If you have 100k in the market before you're 30, assuming an 8% annual return over the next 35 years, you'll have nearly *$1.5 million* in retirement savings. And keep in mind, that's with not adding a single penny after you reach that 100k mark.

    One other area, as mentioned above, is passive income. Buy property, rent it out, save your profits to reinvest later on, and you'll have a great portfolio by the time you're in your late 40s early 50s and could likely retire if you want to.
    Mar 140
    • New / EngpHXp44
      Donโ€™t listen to a word that he says. I know him personally, not through the blog. Heโ€™s an outright liar and cheat.
      Mar 13
    • Cognizant / ITfris-b
      Thats what i was asking when i mentioned 'Scam'
      Mar 13
    • Dropbox westward
      That's the great thing about math... It works whether you believe in it or not.
      Mar 13
    • New / EngpHXp44
      Iโ€™m not debating his math. Iโ€™m saying he lies about his expenses.
      Mar 13
  • Microsoft
    ๐Ÿ™M๐Ÿ™

    Microsoft

    BIO
    ๐Ÿ™
    ๐Ÿ™M๐Ÿ™more
    Very possible but the vast vast vast majority of examples you see are people who donโ€™t have kids and donโ€™t plan to. That changes things
    Mar 132
    • Cognizant / ITfris-b
      True
      Mar 13
    • Microsoft FBisEvil
      Or having kids could be a motivator for FI do you can spend more time with them before they move out. ๐Ÿคท๐Ÿปโ€โ™‚๏ธ
      Mar 13
  • Google
    gcpmaster

    Google

    PRE
    Amazon
    gcpmastermore
    To me the whole idea is dumb. Why stop working after 10 years when you really start earning big bucks.
    Mar 131
    • LinkedIn |nextplay|
      Bc you have 10mill in 10yrs to FIRE
      Mar 13
  • Apple 91ZD70H4I7
    FI/RE for me is generate enough passive income that you can do what you love rather than work for someone else... it not about I have millions in my account I will do nothing from today onwards ๐Ÿ˜Š.. you will get bored after few month or year of doing nothing ๐Ÿ˜Š.. for me real estate is think I invest lot in it to generate passive rental income in addition to my TC
    Mar 130
  • Dropbox westward
    Where you live is probably the biggest factor outside of whether to have kids. Move somewhere that pays SF salaries that's not SF.
    Mar 134
    • Wayfair str(10)
      That does not exist.
      Mar 14
    • Oracle / Other}{{
      Work in sf then move to a branch office in a mcol but negotiate your salary to remain steady
      Mar 14
    • Wayfair str(10)
      @oracle that almost never happens. Your company has to be especially stupid to not cut your salary when you move away from the Bay.
      Mar 14
    • Dropbox westward
      Actually, most top tier SF companies pay almost as much in Seattle, which far outweighs SF cost of living.
      Mar 14
  • Gen!x / Eng
    ixptl12

    Gen!xEng

    PRE
    startups, JPMorgan Chase
    BIO
    ยฏ\_(ใƒ„)_/ยฏ
    ixptl12more
    Mar 141
    • Cognizant / ITfris-b
      Thanks for sharing
      Mar 14
  • eBay jo hi
    Very possible........
    Mar 130
  • Amazon / Engcayde
    In this industry? Lol, yeah. I plan to be able to retire at 50 while also paying 100k per kid for college*

    *Limits apply, available for up to 2 kids. Be born now to take advantage!
    Mar 140
  • Egencia / Eng
    Bobby32

    EgenciaEng

    PRE
    Intel Corporation, Oracle
    BIO
    I donโ€™t do shit. Overpaid underwork. But we all think otherwise
    Bobby32more
    RI = die early
    Mar 130

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