Page 3 of 8 FirstFirst 12345 ... LastLast
Results 21 to 30 of 72

Thread: FIRE "Financial Independence, Retire Early"

  1. #21
    Senior Member
    Join Date
    Dec 2013
    Location
    Nevada
    Posts
    5,657
    Bae, so glad you don’t have financial problems on top of everything else. I retired at 58 and the plan was for my husband to work 5 more years until he was 58. He got laid off and couldn’t find a job. Then after a year he took his pension early. Took a big cut too. We toyed with the idea of moving to Dallas as they needed engineers but didn’t want to move and leave our friends, kids, etc. I was sick of starting over plus the weather is perfect where we are.

  2. #22
    Senior Member
    Join Date
    Jun 2015
    Posts
    1,007
    Quote Originally Posted by Teacher Terry View Post
    Me, MM doesn’t live on 30k/year. He spends much more and lists them as business expenses. He counts all his travel this way as well as the expensive shed he made on his property and other things. He also bought a Leaf to drive. He is wealthy from the blog and while he was donates some to charity he also spends some of it. He also bought a commercial building and I am not sure if he rents the space or allows people to use it to work.
    I find it sooooo irritating when people report their expenses this way. My brother whom I love dearly, is wealthy. He told me he lives on $60k/year. Bullshit! Well, his business wrote a check for his $75k truck. I suspect the business also paid for SILs Escalade.....and the BS goes on and on. They host birthday parties for the grands every year and likely spend over $1k for each one. We live on more than that and we don't have the lifestyle they do on a routine basis.

  3. #23
    Senior Member
    Join Date
    Dec 2013
    Location
    Nevada
    Posts
    5,657
    Yes it is not honest if you ask me. We live on 60k/year and usually spend a additional 10k on travel. 10k of our expenses is health insurance. If we could afford to spend more we would.

  4. #24
    Senior Member rosarugosa's Avatar
    Join Date
    Dec 2010
    Location
    Eastern Massachusetts
    Posts
    3,707
    Quote Originally Posted by dado potato View Post
    Mr. Money Moustache was mentioned in the article.
    I guess I should actually read the article!

  5. #25
    Senior Member dmc's Avatar
    Join Date
    Feb 2011
    Posts
    981
    Quote Originally Posted by LDAHL View Post
    What was your biggest surprise?
    I learned to fly and bought a plane. And we decided to move to Florida so I could golf year round. I really don’t like the cold weather up north.

    I also recently have taken up target shooting. So my hobbies take up quite a bit of my time.

    We are also spending more now than we did while working.

    i guess the biggest surprise is how busy we are. We definatly don’t sit around with nothing to do.

  6. #26
    Senior Member
    Join Date
    Jan 2011
    Posts
    3,434
    I think a lot of us simple livers and FIRErs underestimate the surprises that can happen in life, ie worst case scenarios. Even with health insurance, it is amazing how much a chronic or terminal illness can cost. Car accident. Lawsuit. Messy divorce. That stuff happens. Our biggest surprise so far is how inexpensive retirement has been. However, I realize that any of these tragedies might possibly bankrupt us. I am thinking of a good friend who out of the blue suffered a massive brain aneurysm that required months of hospitalization, therapy and now continuing home care. This just a year or two after after she and her husband moved into their retirement house with plans for lots of fun and travel. Much of their savings are now going towards her medical care.

  7. #27
    Senior Member
    Join Date
    Dec 2010
    Posts
    2,278
    In my state you get free healthcare under Medicaid expansion if your income is up to 133% of the Federal poverty level. I would not be able to earn more than $1345.51 a month. As my state has a higher than Federal minimum wage if I worked 40 hours a week at minimum wage I would make too much to get the insurance. 133% of FPL for a single is $16,146.20; the minimum wage figure is $22,880.00.

  8. #28
    Senior Member
    Join Date
    Dec 2013
    Location
    Nevada
    Posts
    5,657
    PT, that is really too bad about your friends. We take 2 big trips/year because 3 of our friends died between 59-67. We also spend a lot on entertainment. Have to have fun while we can.

  9. #29
    Senior Member
    Join Date
    Jan 2011
    Location
    Phoenix
    Posts
    1,847
    Quote Originally Posted by LDAHL View Post
    I think there is much to be said for being in a position where you can do almost anything you want even if you don’t have the option of doing nothing at all. “Retirement” doesn’t seem to be a good word for that.
    The word for that is “universal basic income”.

  10. #30
    Senior Member
    Join Date
    Jan 2011
    Location
    Phoenix
    Posts
    1,847
    Quote Originally Posted by Williamsmith View Post
    I’m a bit confused but will admit that I have not read blogs, books or watched any YouTube pep talks by any of these peopl. I can see where this is all quite feasible given the proper mindset. I just question two things.

    How many partners see eye to eye on the details and.....

    What happens when the elephant in the room (healthcare) sits up and demands the kind of payments even we prepared career investment types can’t afford?

    It looks real appealing until somebody gets sick. Perhaps euthanasia is a consistent philosophy for FIRE proponents.

    I wanted to add....if I were vegging out in an expensive nursing home I’d either be wishing someone would put me out of my misery before they drained my nest egg or worrying that my wife took my frugal living lectures a little too seriously.
    And the second component is Medicare for all.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •