What are your thoughts about FI/RE Financial Independence Retire Early. Is it a scam or is it possible? Any experience?
What are your thoughts about FI/RE Financial Independence Retire Early. Is it a scam or is it possible? Any experience?
It's just math.... Mostly predicated on the ability to control your spending.
I wish I could like this comment twice. So true.
And to not have kids
http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
Don’t listen to a word that he says. I know him personally, not through the blog. He’s an outright liar and cheat.
Thats what i was asking when i mentioned 'Scam'
Very possible........
Very possible but the vast vast vast majority of examples you see are people who don’t have kids and don’t plan to. That changes things
True
Or having kids could be a motivator for FI do you can spend more time with them before they move out. 🤷🏻♂️
To me the whole idea is dumb. Why stop working after 10 years when you really start earning big bucks.
Bc you have 10mill in 10yrs to FIRE
Where you live is probably the biggest factor outside of whether to have kids. Move somewhere that pays SF salaries that's not SF.
That does not exist.
Work in sf then move to a branch office in a mcol but negotiate your salary to remain steady
RI = die early
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 😊.. you will get bored after few month or year of doing nothing 😊.. for me real estate is think I invest lot in it to generate passive rental income in addition to my TC
Someone did an extensive AMA on this here: https://www.teamblind.com/article/I-FIREd-this-year-at-43-AMA-jNKKtXVa
Thanks for sharing
How would it be a "scam"?
Scam as in its tough to cover all future expenses.. i have read blogs on both sides whats your view..
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).