I love this video Nick! A year ago I scaled back my work schedule to 3 days a week and it was one of the best decisions I’ve made. Before that I was on a path to burnout trying to race to the FI finish line. It was exhausting and I was making myself miserable, so I tossed out my self-imposed deadline to focus more on enjoying the journey. As a result I’m much happier in my present, and I’m still working towards my long-term goals. The fastest route isn’t always the best route. There are so many benefits to a slower path and it’s refreshing seeing a different perspective.
Hey! Thanks so much for this Nicole :) I super appreciate it. I'm so glad to hear that you were able to cut back on work and find time to enjoy life more on the way to FI. I totally agree about the importance of tossing out self-imposed deadlines. Love that: The fastest route isn't always the best route. couldn't agree more.
YES! This is why I love following you guys. I focus on FI, but not RE. Reality is, I love having a passion....sometimes that passion is making me money, and sometimes it's not. I want FI so I can pursue the life I want to live which very well may include working into my 80s. My grandpa is 87 and works full time but he loves it! My grandparents own real estate and are constantly going. He acts like a 60 year old man but he loves what he does. I know that when I get to that point in my life, I won't want to work as hard as he goes, but I will likely never stop. Therefore, I am creating a FI life that allows me to pick and choose my destiny!
Boom! Totally agree Carli! So glad that the video resonated with you. I really appreciate you saying that and I'm right there with you. I want to find work that I don't want to retire from :) Thanks so much for taking the time to comment! Keep on keeping on.
As a 60+ newly retired person, I wondered about how I was going to finance the life I want to live in retirement. This video gave me answers. Although I watch mostly YNAB videos Nick does, I consider this video is ABSOLUTE BEST!
Hi Nick! This is great! I think lots of people think retiring early is the magic pill that will solve all their problems. Then they rush to get there and feel painfully empty or confused when their job is gone. I think it is important to begin the journey, as you said, with the "Why?" and one's values. Then take a look at what you're doing now to see how you can start doing those things in the present and make a plan for what you need to do if you can't do them now. Thanks for bringing this to the FIRE discussion.
Thanks Kari, good to see you here! Super glad that you liked it. I totally agree that early retirement isn’t a magic pill. Gotta build a life around your why and core values. I appreciate you taking the time to comment :)
I applaud you! I am 52 and just realized I was drinking the kool-aid society has been pouring for years. I am in the process of selling 98% of my stuff and selling the sticks & bricks - I have purchased a RV and lowered my cost of living from $4100.00 a month to less than $1100.00. I work remotely with my current job but plan to start my own online business and enjoying the time I have left here on earth and get out and see the beautiful country we live in.
Congrats Jimmy! That's awesome man. I wish you all the luck in the world on your journey. That's super exciting and I'm really glad that you liked the video :)
I don't know that I'll be able to retire early, but I think it is the mind-shift in how you think about the money you earn and what you value in life. Making those 2 things mesh is what will keep you happy along the way! Thanks Nick!
I'm on the same boat. I quit my terrible corporate lawyer 16 hour days job 5 years ago, found remote work that I can do from anywhere in the world. Started making pennies, now I'm making good money. It took some time, but I never worked more than 25 hours a week. Best thing is that I got used to living simply in the process. I'm now in a position where I can save again (around 60% of my income) without even trying to. I prefer to stay in small, hippie, beach, surf towns in tropical countries and those are always dirt cheap! I've been to 5 countries in 2019 alone, slow traveling and working 3-5 hour days, saving and investing. I don't think I even want to retire. I feel good when I'm working, keeps me from overthinking. I consider myself semi retired anyways.
Love this J. Paz! I totally agree with you. Thanks so much for sharing. It's awesome to hear you're getting to see the world and jump around. I totally agree with you and love the small beach towns as well. Great job!
I'm with you. I will never stop 'working' but I work for me these days with no employees. If I want to work 10 hours today, I will, or if I don't want to work for 4 days, I won't. Have fun J. Life is short!
@@lilolme69 Exactly, I'm all for saving a nice egg nest for peace of mind and that elusive false sense of security, but life is now. I'm not going to spend my money, but I am for sure going to spend my time doing whatever I want. And for people who say you'll be too old and tired to work more when you're 50, well the same applies to doing sports, hiking, surfing, I'd rather do those than sit in front of a desk 10 hrs a day.
@C Hoc well maybe you can't relate to it or you need specific instructions on what to do to. I'll sum it up for you. The message is clear, don't put up with a job you hate, that consumes all your time, thinking that you will just suck it up a bit longer (usually 10 years) and then be able to retire. Re-evaluate your priorities and think about what makes you happy and how you can have more of that today. Pursue those things, sacrify income, gain time. I'm a lawyer for example, I make 1/3 of what I would be making with my years of experience sitting in a corporate office or law firm. That's fine with me. I'd rather have all the time in the world to read, cook all of my meals, go surfing, hang out, stare into empty spaces and just chill.
This is the route I ended up taking, kind of by accident. I was very interested in FIRE for several years but had very limited earning potential. It was going to take several more years to save enough money to pull the trigger and that was soul crushing. Along the way, though, I made some really good decisions. I bought a house WAY within my means and paid it off in 3 years. I bought it as a home to live in the rest of my life rather than an investment to sell in the future. I bought it in the exact location I wanted to "retire" to after a great deal of research. Then I landed a job in a neighboring town and moved to my house and started remodeling. Three years later, I discovered that not only was my house paid off (which means I'm not caught up in the rent crisis now), but it was in the perfect location for me, and I no longer needed to work full time. In fact, I discovered I could switch to part-time, work only 2 days per week and enjoy 5 days off as my weekend. I've been doing this for several months now and I couldn't be happier. I show up to work on my first day back, actually excited and ready to go, and then before I know it (the next day) its my Friday and my weekend has started. My coworkers are grumbling as I walk out the door because they still have three more days to endure. It was a huge reduction in my income (about 66%), but what I still bring in is roughly double what I need, so I'm still able to pay off small debts and save for future trips and anything else I might want. Plus, my employer has said I can go back to full hours any time I want to. The 10 additional years it would have taken me to reach actual FIRE would have killed me. This alternative is much more feasible, flexible, and mitigates much of the risks associated with living off investments. Yes, its true I'm not literally retired. But why does it feel like I get to enjoy most of the benefits of FIRE with very little to none of the downsides?
Dude! How awesome. I love this alternative and think it's really great for you. Thanks so much for sharing your story Isaac, I think others will definitely get something out of it my friend! Serious congrats!
I appreciate this! Thanks so much... I hope to do my own version of this next year and I feel very nervous to go be unconventional without a huge retirement fund, but I have also most enjoyed living in studios and am comfortable keeping expenses low. I think it will be well worth it to build my dream life than to suffer more years in a career I hate.
I'm 62 and been "retired" for over 30 years. Retired to me being defined as doing what I want and love and getting paid well for it. I only have a high school formal education. I became a welder, certified to be a welding inspector then hit the road. I have had the opportunity to work in 46 states. Even got to be in Key West on somebody else's nickel. My next adventure is in sharpening and selling scissors. And a pretty good trick for someone who has no hair. I developed the sharpening hobby doing my inspection gig. I am not afraid to move around or sell. If someone wants to retire early find something you are interested in and good at. Figure how to get people to pay you to do it then, do it. If you can put $50K back and generate $4-6K a month doing something then you are FIRE. Having a millon is not necessary. I would not spend 1 day at a crappy job thinking 4-6-10 years I can be free. The ability to be free is available to everyone. Right now. But most would rather have that secure crappy job than reach for freedom.
Love this Curtis! Welding is a super underrated. I have some good friends who are welders and it's a great way to earn a living with a lot of side-benefits. I'm super glad that you've been able to find something that works for you and not have to work a job you hate. Thanks so much for sharing and watching my man.
Im currently about 6 years to FI right now and I stress pretty much daily about every possible factor that could delay my FI date... this video has opened my eyes up to a different way of thinking. I could work for FI but somehow optimize my life for the right now while on that journey... thanks for putting this info out. Very inspiring to see folks who have "made it" before hitting that FI number.
Hey Aaron! So glad that that this was helpful for you. I really appreciate you taking the time to comment. It's definitely important to think about that balance my friend. Hope you're able to find a way to optimize now! Let me know if there's ever anything I can do to help.
Charles Jenkinson thanks man. I super appreciate that. I feel really honored to get to make these videos. I definitely want to try and show appreciation to people who take the time out of their day to watch them. Thanks for the comment Charles and good luck on your journey!
SO glad I found this. I have no idea how I found it, but I’m working on a plan to freedom, not so much financial independence. So, my values align with yours. I want to LIVE, travel, and experience life. My youngest has 3 years until graduation. Which puts me on a 3 year plan. Thank you so much for this. I just subscribed. You and your beauty keep living the dream! Much love to you both! You’re an inspiration. ❤️🦋
Hey thanks so much Keelee! I’m super glad to hear that you enjoyed the video and found it helpful. Three years is a great timeline to start planning and testing out different ideas. So definitely get started thinking through your plan. Good luck! And thanks again for watching and commenting.
Good stuff. I'm 41, 12yrs into my SlowFI journey. At 29 I quit a 60+hr/wk high tech job and started consulting ~30hrs/wk. I cut things I didn't care about and ended up accelerating my progress towards FI while dramatically improving my enjoyment of life. Now I have ~2yrs to FI, but I like my "semi-retirement" so much, I'll probably just cut my hours to 20/wk rather than quit altogether.
Btw, no "suffering" in this scenario. I have a new, if not flashy car. I have a modest 1400sqft home in the suburbs and a slightly less modest beach house 😉, a wife, 2 kids, 2 dogs. I eat out whenever I please, though I usually prefer to cook. My savings rate is ~30%, and I started life without a trust fund or connections, and no degree. Left the trailer park at 17 with a car from the dump, $500 and a job pumping gas.
Dude. This is an amazing story Tim! How awesome my friend. I love that you were able to leave the high stress work at 29 and do consulting in a way that allowed you to still pursue FI and enjoy your day-to-day. What a great setup. Thanks so much for sharing my friend! Appreciate you being here, watching, and commenting. It means a ton.
@@mappedoutmoney Thanks for your content. Found you when I was exploring YNAB, and I liked the way you broke it down. Back in '03 I made a spreadsheet that filled that tracking net worth/budgeting function for me, but always found it a bit too manual. I tried Personal Capital, Mint and a private one from a financial advisor, but none of those fit my natural flow. YNAB all the way now! Keep fighting the good fight, more people need to hear this.
@@dexterne Oh nice! Well I'm so glad that the videos have been helpful for you. Yes, YNAB is truly unique in the way it handles things. Glad you've found that it works for you as well! And thanks man. I super appreciate the encouragement.
After 3-4 years of extreme saving and extrem husteling I realize, what I lost along the way. I soon have 8 rentals, but my relationships suffer a lot.. and I did not go on vacation for years. My back hurts and my whole system is kinda stressed out. I delayed having kids because of my FIRE journey. Now I am 34 and I have 4 cats. I need to rethink my plans, find out what I really want in life and take it more slowly. My soul needs a break. Thank you for this video!
Hey there, I really appreciate you sharing that. I know it's tough to re-assess your gameplan. But I'm super happy that the video was helpful for you. Reach out if there's ever anything I can do to help. :) Nick
P C Thank you.. and congrats on your achievements! Yeah, rentals are work.. uuugh! I hate love rentals. Hehe, actually I am a woman 😊 and an artist/musician. I always wanted to be financially save to be able to go on a more artistic path in life. Now a lot of my money is invested in real estate and I feel like I put some stress on myself by being too eager. However, I will recover my savings and maybe I can still find a way of doing what I want AND keep progressing towards FI. Thanks for your thoughts!
I've been on the wealth building road for 25+ years and have been through more than most. Realize that you've got a 20% chance of become disabled and God forbid a serious accident/injury affects a loved one. Just a few of many reasons to "make hay while the sun shines" and build your wealth early. I've learned that enjoying life and spending aren't related, in fact, inversely if anything. There are always alternatives to every expense and most are both less expensive AND better (increased enjoyment). Many times simply eliminating all that doesn't add value to your life is all it takes, and there's so much in modern life that doesn't. I'm constantly amazed at how much money slips through most folk's fingers in a day as they almost desperately spend every dime and none of it adds value.
Totally and completely agree with you Tom. Enjoying life and spending are definitely not 100% correlated. Thanks so much for watching and leaving a thoughtful comment.
Slow Fi: living like a normal person who is responsible with their money? I love how everything needs some marketable term in order for people to latch o to it.
Bingo! Hit the nail on the head my friend. That's all it is. Unfortunately, most people don't ever sit down and really think about their own unique priorities and values :( Hopefully, some folks will watch the video and be encouraged to think about them. Thanks for watching!
Thanks for this post. There is sometimes guilt being past by "Fast-FIers" why we dont go all out and not be extreme about the F.I.R.E. journey. It's refreshing to hear that sometimes in this journey you would want to take a rest and smell the roses. Please create more content on SLOW-FI. And if there are podcast and books around slow fi, please share it with us as well
Totally understand this Jonathan. It's easy to feel guilt or get it from others when you're not going as extreme as you could. I've felt the same way in the past. There's definitely a balance, as you can guess, we don't YOLO everything and definitely make sacrifices, but it's all about finding the balance by hyper-focusing in on what matters most to us. Thanks so much for watching, and yes, definitely planning to create more around this. Be sure to pay attention to the blog The Fioneers and 4 Pillar Freedom, they're creating logs of good Slow FI stuff.
I am an introverted teacher with ADHD who got really into FI a few years ago. The more I got into it, though, the more I realized that I already had a lot of the perks & a creative career that enabled me a lot of flexibility. I had already traveled a lot, enjoyed months of vacation per year, and had picked up skills that I can parlay into remote work pretty easily, and never hated my life-until now 😂. I managed to live a really interesting life that has given me a TON of material for the businesses that I am starting now, while a lot of FIRE mentors wasted their 20’s in cubicles, reach their 30’s and FI, and did not find life suddenly perfect. Meanwhile, I have no regrets but have realized that teaching is no longer a great fit because I adore independent work-a fact I never would have realized had I not been living in China this year, when we went to online classes in May and June. Going back in person made it crystal clear that I hate my job. I realized that it wasn’t just the job, though; it’s also that I want a quieter life that caters to my introversion. Through the unconventional kind of teaching I’ve done, I now possess the skills to pivot to an online job of my own. TL; DR: IMHO, it’s better to have an interesting life that you can pivot from when it no longer suits you in your 30’s, but have rich experiences along the way, than to suffer to reach FIRE fast, miss your 20’s, and reach middle age having barely experienced the world. YMMV, but I have no regrets. I’m ready now at 37 to relax and live quietly, and I can do that because I’ve already had a ton of adventures.
Another awesome video Nick! Slow FI is a great way to live. My wife and I LOVE our jobs.. not sure we will ever really get to the RE part of FIRE.. We are finally starting to live outside the spreadsheet and enjoy the journey!
This!!! Yes! This is what I am doing. Mainly because I need to keep making art to be a whole, grounded person, even if I can only do this about 1/4 of my time currently. Looking forward to the day I can do this fulltime, but in the meantime, I do my more profitable "dayjob" at about 3/4 time and my art about 1/4 time. It's a slower path to FI, but it's what's best for me.
YES! Love this Sharon. I think that's awesome that you've been able to find a balance that you need to pursue right now. Great job and kudos to you. So glad that you enjoyed the video :)
Probably the best video on this subject I've seen, and an unconscious validation of the path that my wife and I are on, but couldn't have articulated in this way. Thank you!
Why is it that everyone thinks that you need to spend money to have fun or enjoy life? Enjoying life doesn't really cost that much money, at least to me. I love to travel, but that doesn't really cost that much money, at least for me. I enjoy the outdoors and fishing. I love seeing new things and trying new foods. I love to learn.
Years back I bought a yeti 45 ice chest. Everyone was like what????? That's insane those things are way over priced. Over the years as my family and I traveled that cooler would travel with out everywhere and kept our drinks, food, and produce cold along with holding our ice for days and preserving our catch when out fishing. That cooler has paid itself 50 times over. You are correct, it dose not cost a lot of money to have fun.
I've done some large over sea strips and talking with old retired folks. While financially the trips weren't the most financially wise the retired folks all tell me they wished they would have traveled more when younger. Travel can be more strenuous than people realize. Long flights, Europe requires a lot of walking on uneven roads/walkways. All the cool sites require a bit of a hike. Also, you're not guaranteed to have goog health when you retire or if you don't die, then kids blow all your money.
Totally agreed. Life is a funny balance of planning for the future, while also making the most of today. Ideally we can all find a way to balance that out and if you want to travel, don't wait, there's lots of ways to make it happen sooner rather than later. Thanks for watching Raidan!
The charts are out there just to show what's possible and whenever someone reaches their goals it is definitely worth celebrating. There are a lot suggestions around possible improvements but none of that says that you should make RE part of FIRE your top priority. In fact I think all the blogs I read talk about 2 main things: being able to do something you would do without pay and financial security for your family. That's why nobody talks about any specific amount of money others should have, they just say have enough to support the life you want to live and here are the tools that helped others.
Totally agreed. It’s all about finding a way to do something you love and build security for your family to find the life you want to live. We’ve all got to find the right balance of sacrifice and joy along the way, and that looks totally different for each of us. Thanks so much for watching!
Thanks for another perspective. My husband and I realized that we didn't necessarily want to retire. We just wanted out from under the home ownership prison and free up home repair money for traveling which is exactly what we did. We made the "ghastly" decision to sell our house and rent an apartment and never looked back. It has freed us up both financially and most importantly, mentally. I cannot tell you how much freedom we've gotten back from not having to worry about all of the things that come along with home ownership.
Yaaaassssssss that’s amazing Kathryn. I love your decision of putting your priorities and values first over the opinion of others or what society tells you is right. Good for y’all!
I am in the process of working the #s and making that decision to sell and rent at the moment. You hit the nail on the head it is like a prison and I have been serving time since the great recession. I wrestle with selling and feeling like I gave up or lost. Damn that working class guilt! You story gives me hope. Thanks for posting.
@@jimsmith9853 thank you so much, and you're so welcome. We had the same feelings of being quitters especially after all the years of being told that renting is throwing away money, and home ownership is an investment. That was true 30 years ago but no longer the case for everyone these days. We found that renting and all that that included came out to be about what we were paying every month when we lived in our home. It was a few dollars more but worth it to us not to have to deal with the home ownership prison! Also, we lost money on our house so that was more throwing money away than renting. Anyway, go for it! You're in good company, and good luck!
I read moyl about a year ago and it made a lot of sense. I like the idea of slow fi better or a mixture of the two. We downsized to a fifth wheel and planning what to do for the next 10 years.
Hey Nikolay! So glad the video made sense and resonated with you. I think it’s a lot more fun to look at it this way too :) Appreciate you leaving a comment. Good luck on your journey to FI!l my friend!
really good job on explaining and making it personal, like always. i think your are SO right about enjoying the journey along the way. to many people wait to long before they start to do what matters to them. being in a job that sucks the life out of you but pays good is ok for a short period of time to help you reach a goal but long term i think you will burn out. giving my 2 week notice was a great day, i couldn't wipe the smile off my face if i wanted to. as always great pod cast!!!!!!!!!!!!!!!!! pretty soon 20k!!!!!!!!!!!!!
Thanks so much Kari! I really appreciate you being here as always. That's amazing! I know what you mean by saying you couldn't wipe the smile off your face. I love it :) Like you said, all about the balance and finding a way to pursue the long term while also enjoying the journey. Thanks Kari! :)
I love this video. It articulates my long term goals in a way that I haven't heard before. FIRE has always been interesting to me because time and flexibility are important to me and I'd like to have more control over those resources. I like my job(!), but I work for the state so I don't have the opportunity to make tons of extra money or get big raises, but I'm not interested in trying to pick up a side hustle to make more money to retire sooner because that is counter to my ultimate goal of using my time for things that are most important to me. So my hope is that I continue to make adjustments that in line with my goals (using all 5 weeks of my vacation each year; working from home one day a week, which I start in a few months) and in about 8 years I want to move from a 12 month position to a 9 month position and then officially retire (to a new gig) 5 to 10 years after that. I love this slow-FI idea. It is certainly is in line with my thoughts around FIRE. Thanks for a great video!
Hey Hailey! Thanks so much for taking the time to write such a thoughtful comment. I'm really glad to hear that the video was encouraging to you and I think your path is awesome. It sounds like you've struck a good balance of prioritizing your values while also still planning for retirement and the long term. Good luck on your path! :) Nick
I'm 60 now but for the last 6 years I have been working on a 3hour maximum work per day and the rest of the time is mine. I came to the conclusion that you will never get enough money but your life WILL get shorter. So enjoy it while you havit Just do it after 40 BE well
Great video Nick. As someone who actively reduced their hours at work to spend more time with family, this made sense to me. I'd much rather see my children growing up than be able to buy more things I don't really need!
That’s so awesome James! Seriously what a blessing to you and your family to do that. So glad you’re able to cut back and spend more time with them. Thanks so much for watching!
Even as someone who's totally on-board with FIRE, I thought this was a very thoughtful counterargument that is, oddly enough, totally in the spirit of FIRE. I enjoyed this challenge to traditional ideas of success and our expectations of how a normal person "should" live (again totally in the spirit of freedom or FI). This gives me something to think about. Thanks for sharing!
Hey thanks Paloma! Really glad that you got something out it. It’s definitely in the spirit of FIRE to break the traditional and think outside the box. Really glad you liked it :)
Your approach seems logical to me. I worked towards FI before this became a movement. I have no debt and paid my house off nearly 20 years ago. For many years I took summers off to travel and to be a full time mom. As a teacher, I had that choice (albeit unpaid). I have been FI for years now but will work until I feel that part of my life is done. I look forward to traveling in spring and fall, something I cannot do now. As for all my other hobbies, I have never denied myself or my family anything within reason.
Love this Eike! Thanks so much for sharing your story. It's amazing that you feel a connection to teaching and helping in that way. Sounds like you've found a really good balance.
After nineteen years working for the same company I finally decided to retire at 55. It is a strange state of being for me I never thought it would happen and now struggle to make every day count. Learning how to live a full and enjoyable life is a skill many of us will find difficult even after achieving financial independence.
We're also in an RV because we can live cheaper at an RV park instead of a house or apartment and move around as we need to work. We're working on a FI slow plan too so we can enjoy where we are right now but have more flexibility in the future.
People are so focused on 'not having to work anymore'. Not having to work, or not having a project to work on makes people depressed. The goal should be to get to a financial place where you can just get paid to do what you love on your terms.
I appreciate your take on "retiring early" and am excited to launch into the exercise in a few minutes. I've also been inspired by the FIRE movement to see how I can cut down on my expenses. Though, I've made the choice to buy more than what I strictly need to survive. I enjoy eating out, buying pricier grocery items, and buying makeup. I could go without, but these purchases improve my life enough that they're worth delaying retirement some amount in order to have them. I love your perspective that you can reach your financial goals while living a life that works for you in the present. Rather than years of sacrifice towards a goal. That strikes me as very level and smart.
Awesome Julia! I'm so glad it resonated with you. I totally agree about finding the balance and buying things that bring a lot of enjoyment into your life. Thanks so much for watching and commenting. It means a ton :)
My reasons to pursue FI. Most of them would require me to quit or change my career Freedom to pursue - hobbies requiring more time and energy - to trade financial instruments without having the restrictions that go with working for a bank - to give my all to passionately create and nurture new business ventures without having the hassle of clearing conflict of interests working for another company full time and depending on others to do my personal venture Travel more (at least once a quarter) - want to visit religiously significant places often - want to visit historically significant places often Flexibility - to be outside Japan in Feb/March/April during the pollen allergy season
Love that you've mapped this out. Hopefully the video was helpful. Now I would spend time thinking of creative ways to find these. If you haven't yet, check out my video about how to start freelancing. One nice thing about freelancing is that it brings you a lot of freedom and flexibility.
Try finding out what simple living costs. If you plan your retirement numbers based on the same old consumerism. ...chasing desired "things," that you don't need, then that dream is a lot further away. But, if you learn how happy you can be without them, then not only does a traditional FIRE situation zoom in closer,..... this ImFReE gig is practically possible right now !
Nick: You should do this same concept for older people. There are A LOT of people who are in their late 40s or 50s who see the FIRE stuff and think there's no Fn way I can do that. My expenses are too high. I don't have enough saved. I'm going to be living on social security and my life is going to suck. Although you and Hanna are not that age, you could use your mechanical engineer brain to do the math and talk about how the same concept in this video could apply to people who aren't 30! Great video by the way.
Nick True: I never wanted that to happen to me and would have preferred to have waited till turned 70 but I still worked till I turned 71 but I had to take SoSec at 66. But I'm doing ok. I'm looking to publish a book of poems I wrote over a 57 year period.
Brilliant, too many people on ZombieFire running away from meaningless lives , so much more intelligent to find something you love and enrich your life , thank you
Dianne Hyde that’s awesome! Glad you can relate. And yup, we still work as well. Just running our business together from the road now. Thanks for watching!
Good video bro, never realized what I was planning had a term. I guess I am on Slow-Fi system :) I plan on working part time while circumnavigating the world on a boat to supplement investment income :)
So what about your health care? How do you get mail? How do you store food and can you eat healthy with this kind of living. What about internet and other services. What about maintenance cost for your rig? What about when you get old and can’t drive around or what if you get hurt and all of the sudden you have to move your rig?
Haha that’s quite a lot of questions. Healthcare = we use a company called medishare Mail = we have a PO Box Food = we have a refrigerator, stove, oven, and microwave. Everything houses have and cook like anyone else. Internet = we use an unlimited hotspot from Verizon. We work remotely from the road so internet is a must. Maintenance = we save for maintenance every month and budget for it. Old = we don’t plan to do this forever. We’re planning to buy a house in a couple years and settle down. Hope that helps!
The main problem here is without a means of supporting yourself on the road whether that be working remotely or some sort of a business all of the above mentioned methods and ideas or out the window. What we need or more ways for your average Joe to work remotely. This could be in the form of businesses or easy to learn skills that would allow you to leave everything behind and go live on the road. Or move around a lot which ever you prefer. But if you can’t work Remotely and you don’t have a business of your own living in an RV somewhere is out of the question.
Of course! 100% agree with you, that's why I so heavily advocate finding a path to a job that helps you achieve your core values. Some of mine are: - Flexibility - Control over my day - Work I care about So I definitely agree we need more people to stretch their minds and find a way to work remotely. Thanks for watching!
Great video! I like the take on looking at what’s important in life and tailoring your life to take advantage of what you value. What is it that you want to do when you are retired? Can you ascertain 80% of retirement while still working. Live life enjoying yourselves instead of thinking you have to be tied down at a ho hum job with a dream that is 30 years away because that is how everyone else is doing it.
Jason Guge exactly right Jason! So glad you took that away from the video. That’s what I was hoping to share. Really appreciate you taking the time to comment!
For me, the problem is that my worklife has destroyed me already to an extent that I don´t know whether I will ever recover again. I´m 42 now and after several burnouts I feel like an old man. My body is totally worn out. I had the goal to work very hard for 2 more years to finally reach FIRE, but I might not be able to continue like this, which scares me a lot. I can´t imagine there is work I like, I hate everything meanwhile.
Totally understand Christoph and I hate to hear that. I know burnout sucks hard. If you're only a couple years away from FIRE though, it definitely sounds like you could consider working part-time or finding a new part-time gig and then just slowing down your savings rate. Is there a possibility to do something like that? Just work to earn the minimum amount needed to live and let your nest egg build on it's own? You won't hit FIRE in two years, but should bring you a lot more joy to work less in the immediate future.
@@mappedoutmoney Thanks a lot Nick for your response! I think you are totally right - I might have to reconsider my plan. I´m not sure whether I can get a part-time position in my current company, rather not. This means I´d have to resign again and look for something else. But perhaps this is exactly the right thing to do. The good thing is that the dividends on my investments automatically grow my savings, and working a minimum and nevertheless growing the nest egg definitely is an option. Problem is that I´m currently living in a very expensive country, so a change might again be linked to relocation and moving abroad.
Hi Christoph, just wanted to say that when I had burnout a few years ago I couldn't imagine enjoying work again. I needed to focus on my physical and mental health - healthy eating, learning meditation, going to the gym (finally with time to relax in the steam room after), journalling, creativity and reconnecting with friends. In my case I took a few months off work but I'm not saying that's necessarily what you or anyone else should do. The important thing is to get into a life situation where you can prioritise your well-being, and not have to live in survival mode. It meant I could get my perspective back and I'm enjoying work and life again. (And I relocated, as it happens.) One thing I focused on was my values, so this video resonates with me. Someone said to me during that time - how do you define success? I still think about that a lot. However you decide to do it, sending you good wishes for recovery.
@@DWXY You rock for the fantastic reply to Christoph. Thanks so much for sharing. I think that was really helpful. Christoph, like you said, it may just be time to reconsider. The good news is like you said you're in a financial position to have options. Just start questioning things. I love the idea of asking what success looks like for you. If you haven't yet, here's a video Hanna and I made on questioning everything. I hope it will give you some good perspective and be though-provoking for you. ruclips.net/video/D2fwJB0RmOA/видео.html
Christoph Denner - I’m 48 and a couple years ago I was where you are. HATED going to work and I mean HATED it. Didn’t take vacation for fear of being laid-off or getting poor reviews - but - I did it. I did it for the family. Took me three years to find a new position in the company and it’s a world of difference. I actually really enjoy work now. I recently was offered another position within the company but turned it down for my own well-being. Hang in there brother. Something good will come your way!
Hey! I so appreciate you watching. Good to see you :) glad you enjoyed it and glad you enjoyed the choosefi podcast episode. That was a ton of fun to record :)
Why do so many people hate their jobs/careers/work? We need to look into that. I'm one of those people who loves their work and earns a ton of money. I'll still retire early, though.
I'm not sure, but I knew I didn't want to build a career in my old position. But I'm really glad that you've found a career that you love and is high income! I hope others can follow in your footsteps!
I love this video Nick! A year ago I scaled back my work schedule to 3 days a week and it was one of the best decisions I’ve made. Before that I was on a path to burnout trying to race to the FI finish line. It was exhausting and I was making myself miserable, so I tossed out my self-imposed deadline to focus more on enjoying the journey. As a result I’m much happier in my present, and I’m still working towards my long-term goals. The fastest route isn’t always the best route. There are so many benefits to a slower path and it’s refreshing seeing a different perspective.
Hey! Thanks so much for this Nicole :) I super appreciate it. I'm so glad to hear that you were able to cut back on work and find time to enjoy life more on the way to FI. I totally agree about the importance of tossing out self-imposed deadlines. Love that: The fastest route isn't always the best route.
couldn't agree more.
The Moneyless Man: A Year of Freeconomic Living
www.amazon.com/Moneyless-Man-Year-Freeconomic-Living/dp/1851687874
YES! This is why I love following you guys. I focus on FI, but not RE. Reality is, I love having a passion....sometimes that passion is making me money, and sometimes it's not. I want FI so I can pursue the life I want to live which very well may include working into my 80s. My grandpa is 87 and works full time but he loves it! My grandparents own real estate and are constantly going. He acts like a 60 year old man but he loves what he does. I know that when I get to that point in my life, I won't want to work as hard as he goes, but I will likely never stop. Therefore, I am creating a FI life that allows me to pick and choose my destiny!
Boom! Totally agree Carli! So glad that the video resonated with you. I really appreciate you saying that and I'm right there with you. I want to find work that I don't want to retire from :)
Thanks so much for taking the time to comment! Keep on keeping on.
I’ve been obsessing over all of this for the past year or so and you articulated it perfectly.
Hey thanks Adrienne! So glad you enjoyed the video :)
As a 60+ newly retired person, I wondered about how I was going to finance the life I want to live in retirement. This video gave me answers. Although I watch mostly YNAB videos Nick does, I consider this video is ABSOLUTE BEST!
Awesome Marc! So glad that this was helpful for you and the framework made sense!
Hi Nick! This is great! I think lots of people think retiring early is the magic pill that will solve all their problems. Then they rush to get there and feel painfully empty or confused when their job is gone.
I think it is important to begin the journey, as you said, with the "Why?" and one's values. Then take a look at what you're doing now to see how you can start doing those things in the present and make a plan for what you need to do if you can't do them now. Thanks for bringing this to the FIRE discussion.
Thanks Kari, good to see you here! Super glad that you liked it. I totally agree that early retirement isn’t a magic pill. Gotta build a life around your why and core values.
I appreciate you taking the time to comment :)
I applaud you! I am 52 and just realized I was drinking the kool-aid society has been pouring for years. I am in the process of selling 98% of my stuff and selling the sticks & bricks - I have purchased a RV and lowered my cost of living from $4100.00 a month to less than $1100.00. I work remotely with my current job but plan to start my own online business and enjoying the time I have left here on earth and get out and see the beautiful country we live in.
Congrats Jimmy! That's awesome man. I wish you all the luck in the world on your journey. That's super exciting and I'm really glad that you liked the video :)
My comments exactly.read my post I'm 53 next month.😊
I presume you mean by "seeing" the country you mean experiencing it
@@Kitiwake Correct!
That's amazing!! Good luck!!!
I don't know that I'll be able to retire early, but I think it is the mind-shift in how you think about the money you earn and what you value in life. Making those 2 things mesh is what will keep you happy along the way! Thanks Nick!
I'm on the same boat. I quit my terrible corporate lawyer 16 hour days job 5 years ago, found remote work that I can do from anywhere in the world. Started making pennies, now I'm making good money. It took some time, but I never worked more than 25 hours a week. Best thing is that I got used to living simply in the process. I'm now in a position where I can save again (around 60% of my income) without even trying to. I prefer to stay in small, hippie, beach, surf towns in tropical countries and those are always dirt cheap! I've been to 5 countries in 2019 alone, slow traveling and working 3-5 hour days, saving and investing. I don't think I even want to retire. I feel good when I'm working, keeps me from overthinking. I consider myself semi retired anyways.
Love this J. Paz! I totally agree with you. Thanks so much for sharing. It's awesome to hear you're getting to see the world and jump around. I totally agree with you and love the small beach towns as well.
Great job!
I'm with you. I will never stop 'working' but I work for me these days with no employees. If I want to work 10 hours today, I will, or if I don't want to work for 4 days, I won't. Have fun J. Life is short!
Sparkle Shine yes! Love it :)
@@lilolme69 Exactly, I'm all for saving a nice egg nest for peace of mind and that elusive false sense of security, but life is now. I'm not going to spend my money, but I am for sure going to spend my time doing whatever I want. And for people who say you'll be too old and tired to work more when you're 50, well the same applies to doing sports, hiking, surfing, I'd rather do those than sit in front of a desk 10 hrs a day.
@C Hoc well maybe you can't relate to it or you need specific instructions on what to do to. I'll sum it up for you. The message is clear, don't put up with a job you hate, that consumes all your time, thinking that you will just suck it up a bit longer (usually 10 years) and then be able to retire. Re-evaluate your priorities and think about what makes you happy and how you can have more of that today. Pursue those things, sacrify income, gain time. I'm a lawyer for example, I make 1/3 of what I would be making with my years of experience sitting in a corporate office or law firm. That's fine with me. I'd rather have all the time in the world to read, cook all of my meals, go surfing, hang out, stare into empty spaces and just chill.
This is the route I ended up taking, kind of by accident. I was very interested in FIRE for several years but had very limited earning potential. It was going to take several more years to save enough money to pull the trigger and that was soul crushing.
Along the way, though, I made some really good decisions. I bought a house WAY within my means and paid it off in 3 years. I bought it as a home to live in the rest of my life rather than an investment to sell in the future. I bought it in the exact location I wanted to "retire" to after a great deal of research. Then I landed a job in a neighboring town and moved to my house and started remodeling.
Three years later, I discovered that not only was my house paid off (which means I'm not caught up in the rent crisis now), but it was in the perfect location for me, and I no longer needed to work full time. In fact, I discovered I could switch to part-time, work only 2 days per week and enjoy 5 days off as my weekend.
I've been doing this for several months now and I couldn't be happier. I show up to work on my first day back, actually excited and ready to go, and then before I know it (the next day) its my Friday and my weekend has started. My coworkers are grumbling as I walk out the door because they still have three more days to endure.
It was a huge reduction in my income (about 66%), but what I still bring in is roughly double what I need, so I'm still able to pay off small debts and save for future trips and anything else I might want. Plus, my employer has said I can go back to full hours any time I want to.
The 10 additional years it would have taken me to reach actual FIRE would have killed me. This alternative is much more feasible, flexible, and mitigates much of the risks associated with living off investments.
Yes, its true I'm not literally retired. But why does it feel like I get to enjoy most of the benefits of FIRE with very little to none of the downsides?
Dude! How awesome. I love this alternative and think it's really great for you. Thanks so much for sharing your story Isaac, I think others will definitely get something out of it my friend! Serious congrats!
I appreciate this! Thanks so much... I hope to do my own version of this next year and I feel very nervous to go be unconventional without a huge retirement fund, but I have also most enjoyed living in studios and am comfortable keeping expenses low. I think it will be well worth it to build my dream life than to suffer more years in a career I hate.
I'm 62 and been "retired" for over 30 years. Retired to me being defined as doing what I want and love and getting paid well for it. I only have a high school formal education. I became a welder, certified to be a welding inspector then hit the road. I have had the opportunity to work in 46 states. Even got to be in Key West on somebody else's nickel. My next adventure is in sharpening and selling scissors. And a pretty good trick for someone who has no hair.
I developed the sharpening hobby doing my inspection gig. I am not afraid to move around or sell. If someone wants to retire early find something you are interested in and good at. Figure how to get people to pay you to do it then, do it.
If you can put $50K back and generate $4-6K a month doing something then you are FIRE. Having a millon is not necessary. I would not spend 1 day at a crappy job thinking 4-6-10 years I can be free. The ability to be free is available to everyone. Right now. But most would rather have that secure crappy job than reach for freedom.
Love this Curtis! Welding is a super underrated. I have some good friends who are welders and it's a great way to earn a living with a lot of side-benefits. I'm super glad that you've been able to find something that works for you and not have to work a job you hate.
Thanks so much for sharing and watching my man.
Hmmmm
I tell young people, skilled trades!
@@joefran619 Agreed Joe! Lots of good work and money to be made there. I really enjoy listening to Mike Rowe's podcast, and he talks about this a lot.
Curtis you are switched on. the key invest $50k that will generate say $5k a month doing something you really enjoy
Im currently about 6 years to FI right now and I stress pretty much daily about every possible factor that could delay my FI date... this video has opened my eyes up to a different way of thinking. I could work for FI but somehow optimize my life for the right now while on that journey... thanks for putting this info out. Very inspiring to see folks who have "made it" before hitting that FI number.
Hey Aaron! So glad that that this was helpful for you. I really appreciate you taking the time to comment.
It's definitely important to think about that balance my friend. Hope you're able to find a way to optimize now!
Let me know if there's ever anything I can do to help.
The "Identify YOUR Why" part is SOOO valuable! Thanks again Nick!
Totally agreed. Thanks for watching Kojo! Appreciate you man.
Man, you're so gracious, replying to nearly every comment. True humility.
Charles Jenkinson thanks man. I super appreciate that. I feel really honored to get to make these videos. I definitely want to try and show appreciation to people who take the time out of their day to watch them.
Thanks for the comment Charles and good luck on your journey!
SO glad I found this. I have no idea how I found it, but I’m working on a plan to freedom, not so much financial independence. So, my values align with yours. I want to LIVE, travel, and experience life. My youngest has 3 years until graduation. Which puts me on a 3 year plan. Thank you so much for this. I just subscribed. You and your beauty keep living the dream! Much love to you both! You’re an inspiration. ❤️🦋
Hey thanks so much Keelee! I’m super glad to hear that you enjoyed the video and found it helpful. Three years is a great timeline to start planning and testing out different ideas. So definitely get started thinking through your plan.
Good luck! And thanks again for watching and commenting.
This video was everything! I'm slowly getting to FI for sure. Just quit one of the 2 jobs I had and I feel a lot less stressed 👌
Woot woot! Love it. So glad you enjoyed the video and glad to hear you were able to cut back on one of the jobs!
Good stuff. I'm 41, 12yrs into my SlowFI journey. At 29 I quit a 60+hr/wk high tech job and started consulting ~30hrs/wk. I cut things I didn't care about and ended up accelerating my progress towards FI while dramatically improving my enjoyment of life. Now I have ~2yrs to FI, but I like my "semi-retirement" so much, I'll probably just cut my hours to 20/wk rather than quit altogether.
Btw, no "suffering" in this scenario. I have a new, if not flashy car. I have a modest 1400sqft home in the suburbs and a slightly less modest beach house 😉, a wife, 2 kids, 2 dogs. I eat out whenever I please, though I usually prefer to cook. My savings rate is ~30%, and I started life without a trust fund or connections, and no degree. Left the trailer park at 17 with a car from the dump, $500 and a job pumping gas.
Dude. This is an amazing story Tim! How awesome my friend. I love that you were able to leave the high stress work at 29 and do consulting in a way that allowed you to still pursue FI and enjoy your day-to-day. What a great setup.
Thanks so much for sharing my friend! Appreciate you being here, watching, and commenting. It means a ton.
@@mappedoutmoney Thanks for your content. Found you when I was exploring YNAB, and I liked the way you broke it down. Back in '03 I made a spreadsheet that filled that tracking net worth/budgeting function for me, but always found it a bit too manual. I tried Personal Capital, Mint and a private one from a financial advisor, but none of those fit my natural flow. YNAB all the way now! Keep fighting the good fight, more people need to hear this.
@@dexterne Oh nice! Well I'm so glad that the videos have been helpful for you. Yes, YNAB is truly unique in the way it handles things. Glad you've found that it works for you as well!
And thanks man. I super appreciate the encouragement.
@@dexterne what's YNAB
Good video showing how to look at FIRS in another way. Also thank you for referencing the other bloggers, articles, and resources. Much appreciated!
Hey there! So glad you enjoyed the video and definitely go check out the other bloggers and links. Lots of great stuff out there!
After 3-4 years of extreme saving and extrem husteling I realize, what I lost along the way. I soon have 8 rentals, but my relationships suffer a lot.. and I did not go on vacation for years. My back hurts and my whole system is kinda stressed out. I delayed having kids because of my FIRE journey. Now I am 34 and I have 4 cats. I need to rethink my plans, find out what I really want in life and take it more slowly. My soul needs a break. Thank you for this video!
Hey there, I really appreciate you sharing that. I know it's tough to re-assess your gameplan. But I'm super happy that the video was helpful for you. Reach out if there's ever anything I can do to help. :)
Nick
My soul needs a break like you
Brother or sister, Christ is the answer. God bless :)
Liam O’Neil Thank you... yes, you are right.. being greatful for what I already have.. thanks for the important reminder 🙏
P C Thank you.. and congrats on your achievements! Yeah, rentals are work.. uuugh! I hate love rentals.
Hehe, actually I am a woman 😊 and an artist/musician.
I always wanted to be financially save to be able to go on a more artistic path in life. Now a lot of my money is invested in real estate and I feel like I put some stress on myself by being too eager.
However, I will recover my savings and maybe I can still find a way of doing what I want AND keep progressing towards FI.
Thanks for your thoughts!
I've been on the wealth building road for 25+ years and have been through more than most. Realize that you've got a 20% chance of become disabled and God forbid a serious accident/injury affects a loved one. Just a few of many reasons to "make hay while the sun shines" and build your wealth early. I've learned that enjoying life and spending aren't related, in fact, inversely if anything. There are always alternatives to every expense and most are both less expensive AND better (increased enjoyment). Many times simply eliminating all that doesn't add value to your life is all it takes, and there's so much in modern life that doesn't. I'm constantly amazed at how much money slips through most folk's fingers in a day as they almost desperately spend every dime and none of it adds value.
Totally and completely agree with you Tom. Enjoying life and spending are definitely not 100% correlated. Thanks so much for watching and leaving a thoughtful comment.
Slow Fi: living like a normal person who is responsible with their money? I love how everything needs some marketable term in order for people to latch o to it.
Bingo! Hit the nail on the head my friend. That's all it is. Unfortunately, most people don't ever sit down and really think about their own unique priorities and values :(
Hopefully, some folks will watch the video and be encouraged to think about them.
Thanks for watching!
I’m on the slow diet: down to 5 donuts from 10. I’ll get there eventually. I’m enjoying the journey. Jk
Normal people are not responsible with their money
Thanks for this post. There is sometimes guilt being past by "Fast-FIers" why we dont go all out and not be extreme about the F.I.R.E. journey. It's refreshing to hear that sometimes in this journey you would want to take a rest and smell the roses.
Please create more content on SLOW-FI. And if there are podcast and books around slow fi, please share it with us as well
Totally understand this Jonathan. It's easy to feel guilt or get it from others when you're not going as extreme as you could. I've felt the same way in the past.
There's definitely a balance, as you can guess, we don't YOLO everything and definitely make sacrifices, but it's all about finding the balance by hyper-focusing in on what matters most to us.
Thanks so much for watching, and yes, definitely planning to create more around this.
Be sure to pay attention to the blog The Fioneers and 4 Pillar Freedom, they're creating logs of good Slow FI stuff.
Love this!! This is such a good point and this is exactly how I want to do things. First, I gotta get out of debt, but this gives me a lot of hope!
Hey Leila! So so glad to hear that. Really appreciate you commenting :)
I wholeheartedly love the video! It's clear, concise, and straight to the point.
Thanks Gabriel! Super appreciate it :)
I am an introverted teacher with ADHD who got really into FI a few years ago. The more I got into it, though, the more I realized that I already had a lot of the perks & a creative career that enabled me a lot of flexibility. I had already traveled a lot, enjoyed months of vacation per year, and had picked up skills that I can parlay into remote work pretty easily, and never hated my life-until now 😂. I managed to live a really interesting life that has given me a TON of material for the businesses that I am starting now, while a lot of FIRE mentors wasted their 20’s in cubicles, reach their 30’s and FI, and did not find life suddenly perfect. Meanwhile, I have no regrets but have realized that teaching is no longer a great fit because I adore independent work-a fact I never would have realized had I not been living in China this year, when we went to online classes in May and June.
Going back in person made it crystal clear that I hate my job. I realized that it wasn’t just the job, though; it’s also that I want a quieter life that caters to my introversion. Through the unconventional kind of teaching I’ve done, I now possess the skills to pivot to an online job of my own.
TL; DR: IMHO, it’s better to have an interesting life that you can pivot from when it no longer suits you in your 30’s, but have rich experiences along the way, than to suffer to reach FIRE fast, miss your 20’s, and reach middle age having barely experienced the world.
YMMV, but I have no regrets. I’m ready now at 37 to relax and live quietly, and I can do that because I’ve already had a ton of adventures.
Another awesome video Nick! Slow FI is a great way to live. My wife and I LOVE our jobs.. not sure we will ever really get to the RE part of FIRE.. We are finally starting to live outside the spreadsheet and enjoy the journey!
Woot woot! Right on dude. I love it and I’m super happy to hear that for you. It’s a great thing when you love your job.
Thanks for watching man!
This is one of the best videos on RUclips.
Hey thanks Deveron!
This!!! Yes! This is what I am doing. Mainly because I need to keep making art to be a whole, grounded person, even if I can only do this about 1/4 of my time currently. Looking forward to the day I can do this fulltime, but in the meantime, I do my more profitable "dayjob" at about 3/4 time and my art about 1/4 time. It's a slower path to FI, but it's what's best for me.
YES! Love this Sharon. I think that's awesome that you've been able to find a balance that you need to pursue right now. Great job and kudos to you.
So glad that you enjoyed the video :)
Probably the best video on this subject I've seen, and an unconscious validation of the path that my wife and I are on, but couldn't have articulated in this way. Thank you!
Well awesome! I'm so glad that the video resonated with you and that y'all are on a similar path. That's exciting. Thanks so much for watching :)
STRONG POINT...
meaning and fulfillment after retirement...
Few realize how much we self identify with our occupation
Totally. Have to find the meaning and fulfillment. Thanks so much for watching Forest Day.
One of my biggest reasons for wanting to retire early is so I can do things while I'm actually still physically able to
Totally get that Andrew. Definitely a core value of mine as well. I 100% get it.
Thanks for watching!
I hear that!
Yes, this became my number one reason for pivoting to the method in this video.
Why is it that everyone thinks that you need to spend money to have fun or enjoy life? Enjoying life doesn't really cost that much money, at least to me. I love to travel, but that doesn't really cost that much money, at least for me. I enjoy the outdoors and fishing. I love seeing new things and trying new foods. I love to learn.
Not sure Scott, but you're right that there's lots of amazing ways to enjoy life without spending lots of money. Thanks for watching and sharing. :)
Years back I bought a yeti 45 ice chest. Everyone was like what????? That's insane those things are way over priced. Over the years as my family and I traveled that cooler would travel with out everywhere and kept our drinks, food, and produce cold along with holding our ice for days and preserving our catch when out fishing. That cooler has paid itself 50 times over. You are correct, it dose not cost a lot of money to have fun.
Literally existing costs money.
Scott
You have the right idea. Some people take forever to figure it out.
This is it!!! Totally was wondering about this. I love it and this is the whole point, you are totally right! thanks to you both!
Awesome! I'm so glad that the video clicked for you, that means a ton :)
For me, as long as I have time for my daily exercise, I'm fine.
I like that Joe. I agree, getting some daily exercise is super important. It helps keep me grounded.
I've done some large over sea strips and talking with old retired folks. While financially the trips weren't the most financially wise the retired folks all tell me they wished they would have traveled more when younger. Travel can be more strenuous than people realize. Long flights, Europe requires a lot of walking on uneven roads/walkways. All the cool sites require a bit of a hike. Also, you're not guaranteed to have goog health when you retire or if you don't die, then kids blow all your money.
Totally agreed. Life is a funny balance of planning for the future, while also making the most of today. Ideally we can all find a way to balance that out and if you want to travel, don't wait, there's lots of ways to make it happen sooner rather than later.
Thanks for watching Raidan!
The charts are out there just to show what's possible and whenever someone reaches their goals it is definitely worth celebrating. There are a lot suggestions around possible improvements but none of that says that you should make RE part of FIRE your top priority. In fact I think all the blogs I read talk about 2 main things: being able to do something you would do without pay and financial security for your family. That's why nobody talks about any specific amount of money others should have, they just say have enough to support the life you want to live and here are the tools that helped others.
Totally agreed. It’s all about finding a way to do something you love and build security for your family to find the life you want to live. We’ve all got to find the right balance of sacrifice and joy along the way, and that looks totally different for each of us.
Thanks so much for watching!
But Tim McGraw told me to live like I'm dying. In getting pulled in too many directions. I think I'll just sit here and see what happens
lol you win the comment game my friend.
My plan exactly
Geat video, going to share it with my hubby! Good, detailed, helpful information, as always!
Emily MacDavid thanks so much Emily! I’m
Really glad that it was helpful for you.
Need more videos like this! on this topic please. More break down of working through the values!
Thanks! I definitely want to do more on this topic : )
Sure,enjoy your life while saving for the future.Well said!!!
Thanks Mamiki! Glad you liked the video.
Thanks for another perspective. My husband and I realized that we didn't necessarily want to retire. We just wanted out from under the home ownership prison and free up home repair money for traveling which is exactly what we did. We made the "ghastly" decision to sell our house and rent an apartment and never looked back. It has freed us up both financially and most importantly, mentally. I cannot tell you how much freedom we've gotten back from not having to worry about all of the things that come along with home ownership.
Yaaaassssssss that’s amazing Kathryn. I love your decision of putting your priorities and values first over the opinion of others or what society tells you is right. Good for y’all!
@@mappedoutmoney Thank you so much!! I've just started watching all of your videos, and they're wonderful! Thanks for the great content.
@@kathrynnielson5689 Thanks! That seriously means so much to hear :)
I am in the process of working the #s and making that decision to sell and rent at the moment.
You hit the nail on the head it is like a prison and I have been serving time since the great recession.
I wrestle with selling and feeling like I gave up or lost.
Damn that working class guilt!
You story gives me hope.
Thanks for posting.
@@jimsmith9853 thank you so much, and you're so welcome. We had the same feelings of being quitters especially after all the years of being told that renting is throwing away money, and home ownership is an investment. That was true 30 years ago but no longer the case for everyone these days. We found that renting and all that that included came out to be about what we were paying every month when we lived in our home. It was a few dollars more but worth it to us not to have to deal with the home ownership prison! Also, we lost money on our house so that was more throwing money away than renting. Anyway, go for it! You're in good company, and good luck!
Great summation and perspective. Thanks for the effort, and the shoutout Nick!
Hey thanks for watching! Glad you enjoyed it and appreciate you taking the time to comment!
I read moyl about a year ago and it made a lot of sense. I like the idea of slow fi better or a mixture of the two. We downsized to a fifth wheel and planning what to do for the next 10 years.
Awesome! Hope you're enjoying the fifth wheel. I totally agree that it's good to have a mixture and balance it out.
Thank you Nick.This is entirely new way of looking at FIRE for me. Never looked at it that way. Its way more fun and achievable.
Hey Nikolay! So glad the video made sense and resonated with you. I think it’s a lot more fun to look at it this way too :)
Appreciate you leaving a comment. Good luck on your journey to FI!l my friend!
really good job on explaining and making it personal, like always. i think your are SO right about enjoying the journey along the way. to many people wait to long before they start to do what matters to them. being in a job that sucks the life out of you but pays good is ok for a short period of time to help you reach a goal but long term i think you will burn out. giving my 2 week notice was a great day, i couldn't wipe the smile off my face if i wanted to. as always great pod cast!!!!!!!!!!!!!!!!! pretty soon 20k!!!!!!!!!!!!!
Thanks so much Kari! I really appreciate you being here as always. That's amazing! I know what you mean by saying you couldn't wipe the smile off your face. I love it :)
Like you said, all about the balance and finding a way to pursue the long term while also enjoying the journey.
Thanks Kari! :)
I love this video. It articulates my long term goals in a way that I haven't heard before. FIRE has always been interesting to me because time and flexibility are important to me and I'd like to have more control over those resources. I like my job(!), but I work for the state so I don't have the opportunity to make tons of extra money or get big raises, but I'm not interested in trying to pick up a side hustle to make more money to retire sooner because that is counter to my ultimate goal of using my time for things that are most important to me. So my hope is that I continue to make adjustments that in line with my goals (using all 5 weeks of my vacation each year; working from home one day a week, which I start in a few months) and in about 8 years I want to move from a 12 month position to a 9 month position and then officially retire (to a new gig) 5 to 10 years after that. I love this slow-FI idea. It is certainly is in line with my thoughts around FIRE. Thanks for a great video!
Hey Hailey! Thanks so much for taking the time to write such a thoughtful comment. I'm really glad to hear that the video was encouraging to you and I think your path is awesome. It sounds like you've struck a good balance of prioritizing your values while also still planning for retirement and the long term.
Good luck on your path! :)
Nick
Thank you. The video confirmed what I've been feeling and thinking about lately, but haven't articulated well enough for myself. 🙂
Awesome G Roques! I'm so glad to hear that the video was helpful for you and put some things into words. Thanks so much for watching.
I'm 60 now but for the last 6 years I have been working on a 3hour maximum work per day and the rest of the time is mine.
I came to the conclusion that you will never get enough money but your life WILL get shorter.
So enjoy it while you havit
Just do it after 40
BE well
That's awesome Howard! Congrats to you. Thanks so much for watching and enjoy life my friend :)
Great video Nick. As someone who actively reduced their hours at work to spend more time with family, this made sense to me. I'd much rather see my children growing up than be able to buy more things I don't really need!
That’s so awesome James! Seriously what a blessing to you and your family to do that. So glad you’re able to cut back and spend more time with them. Thanks so much for watching!
The aren't enough people in the FI community taking about this... thank you!
Thanks! So glad you liked the video :)
Even as someone who's totally on-board with FIRE, I thought this was a very thoughtful counterargument that is, oddly enough, totally in the spirit of FIRE. I enjoyed this challenge to traditional ideas of success and our expectations of how a normal person "should" live (again totally in the spirit of freedom or FI). This gives me something to think about. Thanks for sharing!
Hey thanks Paloma! Really glad that you got something out it. It’s definitely in the spirit of FIRE to break the traditional and think outside the box. Really glad you liked it :)
Love the new intro. Beard is wild! LOL
hahaha, thanks! Trying to keep the beard going strong ;)
Thanks for your video - some interesting points that's got me thinking about things a little differently. I appreciate you sharing your perspective!
I really enjoyed this video, thanks for posting.
Thanks, so glad you liked it!
Your approach seems logical to me. I worked towards FI before this became a movement. I have no debt and paid my house off nearly 20 years ago. For many years I took summers off to travel and to be a full time mom. As a teacher, I had that choice (albeit unpaid). I have been FI for years now but will work until I feel that part of my life is done. I look forward to traveling in spring and fall, something I cannot do now. As for all my other hobbies, I have never denied myself or my family anything within reason.
Love this Eike! Thanks so much for sharing your story. It's amazing that you feel a connection to teaching and helping in that way. Sounds like you've found a really good balance.
After nineteen years working for the same company I finally decided to retire at 55. It is a strange state of being for me I never thought it would happen and now struggle to make every day count. Learning how to live a full and enjoyable life is a skill many of us will find difficult even after achieving financial independence.
Totally agreed Drew. Thanks for sharing that. Finding a way to make every day count matters whether you work fulltime or not!
19 yrs with the same company?! That a committee right there!
@@twincherry4958 Definitely some commitment!
@@mappedoutmoney 🙏 My longest is 3 yrs😁
@@twincherry4958 haha, understood my friend :) I did 4 at the job I had before going self-employed freelancer.
Thanks for the positive perspective of thinking!
Of course Steven! So glad that you enjoyed it. Thanks so much for watching.
We're also in an RV because we can live cheaper at an RV park instead of a house or apartment and move around as we need to work. We're working on a FI slow plan too so we can enjoy where we are right now but have more flexibility in the future.
Love it Christina! Glad you've found the slow FI path to work for you as well :)
Good stuff Nick! Great meeting you guys in DC!
Hey! Super great to meet y'all too, that's what I love the lobby for, all the great little meetings.
Thanks for stopping by.
This makes a lot more sense to me. Yay!! I’m raving on the slow-fi now 😃😃
In the end I’m Fre-e
Love this. I’m there but working part time due to liking what I do.
Love it Jeff! Thanks for watching man. I’m really glad you liked the video and congrats to you!
I love this! Beautiful Sensible Simple approach to promotion of Living
Thanks Becky Jo! So glad that you like the video. I really appreciate you taking the time to leave a comment.
I agree completely, we are not far, just 1.5 years to go.... there is a light at the end of a tunnel.
Nice Adrienn! That's awesome, congrats on being so close :) Keep after it!
Super awesome video, thank you for sharing your thoughts. This gives me a new way/approach to FIRE.
Awesome Colton! So glad that you enjoyed the video and found it helpful man.
Good luck!
People are so focused on 'not having to work anymore'. Not having to work, or not having a project to work on makes people depressed. The goal should be to get to a financial place where you can just get paid to do what you love on your terms.
Troy N bingo. Totally agreed my man.
I appreciate your take on "retiring early" and am excited to launch into the exercise in a few minutes.
I've also been inspired by the FIRE movement to see how I can cut down on my expenses. Though, I've made the choice to buy more than what I strictly need to survive. I enjoy eating out, buying pricier grocery items, and buying makeup. I could go without, but these purchases improve my life enough that they're worth delaying retirement some amount in order to have them.
I love your perspective that you can reach your financial goals while living a life that works for you in the present. Rather than years of sacrifice towards a goal. That strikes me as very level and smart.
Awesome Julia! I'm so glad it resonated with you. I totally agree about finding the balance and buying things that bring a lot of enjoyment into your life. Thanks so much for watching and commenting. It means a ton :)
I retired at 27 with just one years salary saved up. I have traveled the world since teaching yoga and studying what I love. It’s doable.
Congrats Peter! That's awesome you're able to travel and do what you love!
Zachary Sunday 30,000 USD
My reasons to pursue FI. Most of them would require me to quit or change my career
Freedom to pursue
- hobbies requiring more time and energy
- to trade financial instruments without having the restrictions that go with working for a bank
- to give my all to passionately create and nurture new business ventures without having the hassle of clearing conflict of interests working for another company full time and depending on others to do my personal venture
Travel more (at least once a quarter)
- want to visit religiously significant places often
- want to visit historically significant places often
Flexibility
- to be outside Japan in Feb/March/April during the pollen allergy season
Love that you've mapped this out. Hopefully the video was helpful. Now I would spend time thinking of creative ways to find these.
If you haven't yet, check out my video about how to start freelancing. One nice thing about freelancing is that it brings you a lot of freedom and flexibility.
Try finding out what simple living costs. If you plan your retirement numbers based on the same old consumerism. ...chasing desired "things," that you don't need, then that dream is a lot further away. But, if you learn how happy you can be without them, then not only does a traditional FIRE situation zoom in closer,..... this ImFReE gig is practically possible right now !
Love it John!! SO glad to hear that you're ImFReE! That's super exciting to be there. I totally agree with you.
Thanks so much for watching :)
Great information! Hanna, I am a PT too and want to remotely work. Our profession does not allow that yet so I am staying put. Happy travels!
How cool! Glad you enjoyed the video. Really appreciate you taking the time to comment :)
I love watching videos like this.
Thanks Johnathan, appreciate you stopping by
Nice and inspiring post, glad i stumbled on this video.
Thanks! Really glad that you liked it. I appreciate you taking time to comment.
Nick: You should do this same concept for older people. There are A LOT of people who are in their late 40s or 50s who see the FIRE stuff and think there's no Fn way I can do that. My expenses are too high. I don't have enough saved. I'm going to be living on social security and my life is going to suck. Although you and Hanna are not that age, you could use your mechanical engineer brain to do the math and talk about how the same concept in this video could apply to people who aren't 30! Great video by the way.
My wife lives fi already. She uses me to achieve that. She could care less if i ever get to. This is not a joke.
Leave her. Don't divorce her, just go to the store never come back one day LOL
Sorry to hear that Jarred, doesn't sound fun :(
Best of luck my friend.
"They're endless money pits!"
I found this to be an insightful video.
Thank you for sharing those points.
Nick True: I never wanted that to happen to me and would have preferred to have waited till turned 70 but I still worked till I turned 71 but I had to take SoSec at 66. But I'm doing ok. I'm looking to publish a book of poems I wrote over a 57 year period.
Brilliant, too many people on ZombieFire running away from meaningless lives , so much more intelligent to find something you love and enrich your life , thank you
Bingo! Glad you enjoyed the video Papi and found it to be a helpful framework. I really appreciate you taking the time to comment.
Wauw this was really clear and helpful! Thank you very much!
Glad to hear it! I appreciate you taking the time to comment.
Actually your list matches mine exactly. I also have chosen to live in an RV. Still tied to my job for now.
Dianne Hyde that’s awesome! Glad you can relate. And yup, we still work as well. Just running our business together from the road now. Thanks for watching!
Really puts me thinking about fun & exploring.... but hopefully soon I will do so
I love this mentality and totally agree.
Thanks Bailey! Glad you enjoyed it.
Very thoughtful video.
Thanks so much. Glad you enjoyed it!
Loved this video! Thanks for the advice!
Hey thanks Tomas! So glad you liked it.
Good video bro, never realized what I was planning had a term. I guess I am on Slow-Fi system :)
I plan on working part time while circumnavigating the world on a boat to supplement investment income :)
Abdullah Dimion boom! Love it. That’s a super exciting plan my friend. Thanks so much for watching and good luck on your journey!
You are wise beyond your years!
Thanks for that. I super appreciate it. And I'm glad that you liked the video.
So what about your health care? How do you get mail? How do you store food and can you eat healthy with this kind of living. What about internet and other services. What about maintenance cost for your rig? What about when you get old and can’t drive around or what if you get hurt and all of the sudden you have to move your rig?
Haha that’s quite a lot of questions.
Healthcare = we use a company called medishare
Mail = we have a PO Box
Food = we have a refrigerator, stove, oven, and microwave. Everything houses have and cook like anyone else.
Internet = we use an unlimited hotspot from Verizon. We work remotely from the road so internet is a must.
Maintenance = we save for maintenance every month and budget for it.
Old = we don’t plan to do this forever. We’re planning to buy a house in a couple years and settle down.
Hope that helps!
thanks for this - I loved this video
Thanks Allison! So glad you enjoyed it
The main problem here is without a means of supporting yourself on the road whether that be working remotely or some sort of a business all of the above mentioned methods and ideas or out the window. What we need or more ways for your average Joe to work remotely. This could be in the form of businesses or easy to learn skills that would allow you to leave everything behind and go live on the road. Or move around a lot which ever you prefer. But if you can’t work Remotely and you don’t have a business of your own living in an RV somewhere is out of the question.
Of course! 100% agree with you, that's why I so heavily advocate finding a path to a job that helps you achieve your core values.
Some of mine are:
- Flexibility
- Control over my day
- Work I care about
So I definitely agree we need more people to stretch their minds and find a way to work remotely.
Thanks for watching!
Excellent video!!! Thank you!
Thanks so much! I'm really glad you enjoyed it :)
Thank you for creating and sharing.
Thanks Paul! I appreciate you watching man. Glad you enjoyed it.
Great video! I like the take on looking at what’s important in life and tailoring your life to take advantage of what you value. What is it that you want to do when you are retired? Can you ascertain 80% of retirement while still working. Live life enjoying yourselves instead of thinking you have to be tied down at a ho hum job with a dream that is 30 years away because that is how everyone else is doing it.
Jason Guge exactly right Jason! So glad you took that away from the video. That’s what I was hoping to share.
Really appreciate you taking the time to comment!
For me, the problem is that my worklife has destroyed me already to an extent that I don´t know whether I will ever recover again. I´m 42 now and after several burnouts I feel like an old man. My body is totally worn out. I had the goal to work very hard for 2 more years to finally reach FIRE, but I might not be able to continue like this, which scares me a lot. I can´t imagine there is work I like, I hate everything meanwhile.
Totally understand Christoph and I hate to hear that. I know burnout sucks hard. If you're only a couple years away from FIRE though, it definitely sounds like you could consider working part-time or finding a new part-time gig and then just slowing down your savings rate. Is there a possibility to do something like that?
Just work to earn the minimum amount needed to live and let your nest egg build on it's own? You won't hit FIRE in two years, but should bring you a lot more joy to work less in the immediate future.
@@mappedoutmoney Thanks a lot Nick for your response! I think you are totally right - I might have to reconsider my plan. I´m not sure whether I can get a part-time position in my current company, rather not. This means I´d have to resign again and look for something else. But perhaps this is exactly the right thing to do. The good thing is that the dividends on my investments automatically grow my savings, and working a minimum and nevertheless growing the nest egg definitely is an option. Problem is that I´m currently living in a very expensive country, so a change might again be linked to relocation and moving abroad.
Hi Christoph, just wanted to say that when I had burnout a few years ago I couldn't imagine enjoying work again. I needed to focus on my physical and mental health - healthy eating, learning meditation, going to the gym (finally with time to relax in the steam room after), journalling, creativity and reconnecting with friends.
In my case I took a few months off work but I'm not saying that's necessarily what you or anyone else should do. The important thing is to get into a life situation where you can prioritise your well-being, and not have to live in survival mode. It meant I could get my perspective back and I'm enjoying work and life again. (And I relocated, as it happens.)
One thing I focused on was my values, so this video resonates with me. Someone said to me during that time - how do you define success? I still think about that a lot.
However you decide to do it, sending you good wishes for recovery.
@@DWXY You rock for the fantastic reply to Christoph. Thanks so much for sharing. I think that was really helpful.
Christoph, like you said, it may just be time to reconsider. The good news is like you said you're in a financial position to have options. Just start questioning things. I love the idea of asking what success looks like for you.
If you haven't yet, here's a video Hanna and I made on questioning everything. I hope it will give you some good perspective and be though-provoking for you.
ruclips.net/video/D2fwJB0RmOA/видео.html
Christoph Denner - I’m 48 and a couple years ago I was where you are. HATED going to work and I mean HATED it. Didn’t take vacation for fear of being laid-off or getting poor reviews - but - I did it. I did it for the family.
Took me three years to find a new position in the company and it’s a world of difference. I actually really enjoy work now. I recently was offered another position within the company but turned it down for my own well-being.
Hang in there brother. Something good will come your way!
Get a job you love and you won’t want to retire as it’s a way of life.
Bingo. That's exactly right my friend!
I'm the internet FIRE police and I'm here because somebody reported you to me and sent me the link to your video.
:)
Good idea actually 👍 I like it - find out what you want to do when you retire and see if you can change your lifestyle to do it now without FI.
Bingo! Glad you enjoyed the video Dmitry and I wish you luck on your journey!
Good stuff 👍now is the time to pursue your dreams. Not waiting for a magical number of 0s in the bank to start life
Totally agree. Thanks for watching David!
Love it!! And I LOVED y’all on the chooseFI podcast. 👍🏻👏🏻👏🏻🔥🔥🔥🔥🔥
Hey! I so appreciate you watching. Good to see you :) glad you enjoyed it and glad you enjoyed the choosefi podcast episode. That was a ton of fun to record :)
Why do so many people hate their jobs/careers/work? We need to look into that. I'm one of those people who loves their work and earns a ton of money. I'll still retire early, though.
I'm not sure, but I knew I didn't want to build a career in my old position. But I'm really glad that you've found a career that you love and is high income! I hope others can follow in your footsteps!
That’s the whole deal in the first place, to enjoy what you’re doing. Hopefully in a well paying job, but in some other path if need be.
spot on brother, love it.
Thanks Matt! Glad you enjoyed it.
That is an interesting take on early retirement. Good job brother.
Thanks! Glad you enjoyed it. Really appreciate you taking the time to comment.
Good luck
My friend
Thanks Jeffy! Same to you!