Anyone on FIRE path?

GraniteCrystal

GraniteCrystal

New member
Financial
Independence
Retire
Early

F.I.R.E

Anyone here on track to achieve FIRE? Wife and I are working towards it. Next big step for us is paying our house off asap, then working on the nest egg to get 25x our yearly expenses.

If not familiar, do some googling. Lots of stuff being written on it right now.
 
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GraniteCrystal said:
Financial
Independence
Retire
Early

F.I.R.E

Anyone here on track to achieve FIRE? Wife and I are working towards it. Next big step for us is paying our house off asap, then working on the nest egg to get 25x our yearly expenses.

If not familiar, do some googling. Lots of stuff being written on it right now.
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I think I recall Strizzychris posting up years ago about stopping jeep mods to accelerate retirement? Something with real estate perhaps? I didn't know him so I don't know the details but I assume it was a similar end game.

Although we are building a house right now but it is actually cheap enough to make biweekly payments and not hurt us. The county has drastically lower taxes than our current county. Hopefully shave off about 10 years or more. Only utility is power. My jeep is paid off in 11 months. The misses getting a promotion in the spring it looks like. We are paying down credit cards now, hopefully done in the summer. With all that our plan is put away a lot of money and metals, and pay off the house as quickly as possible. Plus we both have state pensions so we have a solid foundation to build on. We don't have a "set plan" per se but we have always known how to manage our money well so we are just continuing that with the new place on top of the extra income and saved money will just sweeten the deal.
 
Unfortunately i am too old to join a FIRE department and step into that great tax-payer funded pension plan. Just have to keep saving on my own, I guess.
 
Jackal01 said:
I think I recall Strizzychris posting up years ago about stopping jeep mods to accelerate retirement? Something with real estate perhaps? I didn't know him so I don't know the details but I assume it was a similar end game.

Although we are building a house right now but it is actually cheap enough to make biweekly payments and not hurt us. The county has drastically lower taxes than our current county. Hopefully shave off about 10 years or more. Only utility is power. My jeep is paid off in 11 months. The misses getting a promotion in the spring it looks like. We are paying down credit cards now, hopefully done in the summer. With all that our plan is put away a lot of money and metals, and pay off the house as quickly as possible. Plus we both have state pensions so we have a solid foundation to build on. We don't have a "set plan" per se but we have always known how to manage our money well so we are just continuing that with the new place on top of the extra income and saved money will just sweeten the deal.
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This guy writes some good stuff

http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/
 
I briefly looked through some of this FIRE stuff online and it all looks like basic common sense stuff that a lot of people already do. Seems like basic financially responsibility. Didn't realize there was actually a name or venue to it called FIRE.

Summary: If you spend more than you make, you're gonna have a bad time (unless you're the Federal Government, somehow they found prosperity through an improper business model :thinking: )
 
WJCO said:
I briefly looked through some of this FIRE stuff online and it all looks like basic common sense stuff that a lot of people already do. Seems like basic financially responsibility. Didn't realize there was actually a name or venue to it called FIRE.

Summary: If you spend more than you make, you're gonna have a bad time (unless you're the Federal Government, somehow they found prosperity through an improper business model :thinking: )
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Well, it does make things easier when you can print more money and/or confiscate it from others at will when you're running short on funds.

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Build Thread - Adventures of Fiona - https://wayalife.com/showthread.php?t=47407
 
fiend said:
Unfortunately i am too old to join a FIRE department and step into that great tax-payer funded pension plan. Just have to keep saving on my own, I guess.
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Uh, are you actually criticizing pensions for first responders? Nice.
 
BaddestCross said:
Well, it does make things easier when you can print more money and/or confiscate it from others at will when you're running short on funds.

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Build Thread - Adventures of Fiona - https://wayalife.com/showthread.php?t=47407
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They can't. "The federal Reserve" issues the "bills" to the Government... WE (US Citizens) are the collateral they loan against; and GUESS who gets to pay those "BILLS"... :doh: Yup. You and Me. :naw:

Go Ahead, try to not pay your taxes... see how easily they will let you NOT pay their debts.

#but who would build the roads :dont_tell:
#1913
 
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WJCO said:
I briefly looked through some of this FIRE stuff online and it all looks like basic common sense stuff that a lot of people already do. Seems like basic financially responsibility. Didn't realize there was actually a name or venue to it called FIRE.

Summary: If you spend more than you make, you're gonna have a bad time (unless you're the Federal Government, somehow they found prosperity through an improper business model :thinking: )
Click to expand...

Somebody has to make money off of it. Lol. I try to follow most of the principles. Always mean to read more into the actual FIRE plan though. See how far off I am.

More people don't than do have common sense, especially when it comes to finance. Some of it is environmental, some just stupidity, and some greed.
 
JAGS said:
Uh, are you actually criticizing pensions for first responders? Nice.
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I’m saying I wish I had a tax-payer funded pension plan. It’s not just the fire guys that have them, but the reference was apropos given the acronym in the original post. [emoji849]
 
DWiggles said:
They can't. "The federal Reserve" issues the "bills" to the Government... WE (US Citizens) are the collateral they loan against; and GUESS who gets to pay those "BILLS"... :doh: Yup. You and Me. :naw:

Go Ahead, try to not pay your taxes... see how easily they will let you NOT pay their debts.

#but who would build the roads :dont_tell:
#1913
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Precisely. Hard to be that eloquent while I'm driving down a highway built with my tax dollars and then get charged to use. Thanks for clarifying how the government rapes us every day. 😎

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Build Thread - Adventures of Fiona - https://wayalife.com/showthread.php?t=47407
 
fiend said:
I’m saying I wish I had a tax-payer funded pension plan. It’s not just the fire guys that have them, but the reference was apropos given the acronym in the original post. [emoji849]
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Well, you could risk your life everyday, become a teacher, or run for office and make a difference in the system. What are you waiting for. Go get those tax dollars.
 
fiend said:
I’m saying I wish I had a tax-payer funded pension plan. It’s not just the fire guys that have them, but the reference was apropos given the acronym in the original post. [emoji849]
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Exactly...

State universitys are another 'shining' example.
 
And just so I make a contribution to this thread. Some good advice given to me a long time ago. If you have the option to participate in an employer matched retirement account, invest a small part of your salary.

If you can invest the same % as the match max, you are getting all that "free" money towards your future.

Not sure if that is FIRE or not, but it's good advice.
 
JAGS said:
And just so I make a contribution to this thread. Some good advice given to me a long time ago. If you have the option to participate in an employer matched retirement account, invest a small part of your salary.

If you can invest the same % as the match max, you are getting all that "free" money towards your future.

Not sure if that is FIRE or not, but it's good advice.
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It's definitely good advice and something the FIRE folks would support. As you say, it's literally free money. Not putting in up to your employer match is foolish.
 
JAGS said:
And just so I make a contribution to this thread. Some good advice given to me a long time ago. If you have the option to participate in an employer matched retirement account, invest a small part of your salary.

If you can invest the same % as the match max, you are getting all that "free" money towards your future.

Not sure if that is FIRE or not, but it's good advice.
Click to expand...

GraniteCrystal said:
It's definitely good advice and something the FIRE folks would support. As you say, it's literally free money. Not putting in up to your employer match is foolish.
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BaddestCross said:
This for sure. More often than not, employer retirement plans suck, but if they're matching, use it to get as much free money as you can. 👍

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Build Thread - Adventures of Fiona - https://wayalife.com/showthread.php?t=47407
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Never, Ever EVER leave money just SITTING on the table. :crazyeyes:
 
JAGS said:
And just so I make a contribution to this thread. Some good advice given to me a long time ago. If you have the option to participate in an employer matched retirement account, invest a small part of your salary.

If you can invest the same % as the match max, you are getting all that "free" money towards your future.

Not sure if that is FIRE or not, but it's good advice.
Click to expand...
My wife and I both contribute to our pension. We put in 7% per check, employer puts in 14%. Plan is to increase our share next year despite employer being maxed out on their contribution. It would be stupid not to participate.
 
I am on a good track for this. If all goes as planned, home and vehicles will be paid off in 5 years. I can retire in 8 but will probably drop for the additional money. Pension is contributed with a match. The only twist being tossed around will be a small RV. The wife is highly interested in one and our goal is to jump after the home and vehicles are done and get it knocked out before I retire or drop. We have considered moving on the RV now and seeing about it all being complete inside of 5 years. Downside to that is a big chunk less contributed to savings each year.
 
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