If you work and save in your 20s n 30s, it doesn't matter much as you're looking at 50 more years and who knows what happens in such a long span. If you work in your 40s n 50s, you won't have a lot to save for as you'll be looking at only 20-30 more years. So don't retire early and don't try too hard to become FI early. In short, don't kill yourself for short term gains. Play the long game. EDIT: Woah, this blew up! Great to see varying viewpoints and discussion. Something to learn from everyone. TC: 300K
Die without ever having truly lived, it’s the American way!
You severely are underestimating the power of compound interest
For real. We work in software. We’re the most privileged workers of any sector. The work is physically very easy, mentally stimulating, and pays a fuck ton. I’m cool with spending lots in my 20s and enjoying myself while i’m young tyvm.
Your work is mentally stimulating??!?! Are you hiring?
He is in LinkedIn, I bet he works at most 25 hours a week
Yes, I have been anxious lately thinking 24/7 about FIRE and not living in the present! Even though I have a good life (Something which could be a dream for millions of folks)
FIRE or not, never stop living.
I swear you guys use the weirdest lingo, and this is coming from a millennial. What does FIRE and FI mean??
Financial Independence, Retire early
It’s just you mate.
Career is a marathon, not a sprint. Alas they don’t tell you that is school. So, when fresh grads join the workforce, many of them don’t realize that and burn out in their 30s. They then want to FIRE to some mythical LCOL paradise because they have accumulated $500k-1M or some such figure. But there are no such paradises. I suspect many FIRE enthusiasts quietly return to the workplace a few years later, wiser but poorer having eaten thru their savings. As OP says, better to play the long game and work steadily for 30-35 years. In the US, the earliest you can draw on social security is at age 62, so that is the early retirement age.
Be frugal, work hard, get laid, work out and yolo.
I read the Cashflow Quadrant and stopped thinking in terms of compound interest, but in terms of cashflow and taxes. My life hasn't been the same. https://www.audible.com/pd?asin=B009P8K404
Amen