Retired Nov. 15 at 58 years old. I have zero regrets. My time is my own and haven’t considered returning to work. Took care of some health issues I had been putting off due to work responsibilities and I feel better than ever and stress level is almost ZERO!!! Good video.
Hi! My husband and I were also scientists and FIREd in 2020 and 2021 in our late 40s. We also moved and became slo-mads (slow nomads). We’ve learned to be more at ease with “lumpy” spending in the past few months. We’ve not been bored yet. We’ve been focused on health (exercise, eating well) more that we imagined. We’ve embraced the idea to “wander to something”. We don’t miss the corporate life, however we do miss a little the social aspect of work. The more we travel the more we find likeminded people.
After being retired one year and having the market drop almost 20%, I will say that the worst part of FI for me is spending WAY too much time tracking every dime. I didn't do that for the last couple decades of my life. I don't enjoy waking up and poking all the finance apps on my phone for updates. But I still do it. And I have more spreadsheets than I can handle. They have given me tremendous insights, but it's replaced one type of stress with another. Withdrawal rate started under 3.2% and is now around 3.8% adjusted for the new, not improved, lower balance. Still "fine" (right?!) and it proves the wisdom of planning conservatively. Hopefully this too shall pass! Loved the video, guys!
Jason here - Thanks very much for sharing. There's so much value in learning from others' experiences. The question that immediately comes to mind is whether you *need* to do all that checking or you merely like it, or feel like you have to but may not actually be required to do so. The reason I ask is because for me, I know I do more than I need to because it makes me feel comfortable. It's only a small step, but reducing the complexity of my budget has been a nice win for me. Less work, same outcome. I know there are a few other areas I can make similar change as well. I wish you all the best in working through all the challenges + stress that may come along the way. Thanks so much for your support!
I really enjoy your content and appreciate your open and honest feelings and beliefs. I am 59 1/2 today and had lunch with my mom on her 82nd birthday today. I told her my date and intentions to retire today. It was a good day!
As a person who has crossed 50 , has no hope of retiring early, I am jealous of this man and this life, all I can say truly is well done and best of luck
Jason discussing his journey is super useful. Most FIRE vlogs focus too much on the financial aspects which frankly are the easier. What will you do with your time and how you will spend your days is very much overlooked. Also this huge focus on retiring to something puts an unfair pressure. My experience is that you must have interests and hobbies outside of work to keep you from falling off the cliff of boredom and then create your own balance and structure for spending your days. It is tough finding new friends but sometimes those hobbies push you into circles which bring different people into your life.
2-1/2 years into my retirement (@ 59) and I can totally relate to Jason's second guessing the numbers. I'm slowly getting better but I still find myself running the numbers endlessly, hoping that I've been conservative enough. So far everything is running to plan at the macro level but I still struggle not to worry about the month to month expenses. It's probably going to take a few more years to gain full confidence. Maybe having to survive (assuming I do 😄) high inflation and a market downturn early in retirement will be better for my psyche long term rather than the other way around, having our current situation as a possibility hanging over your head, if you know what I mean. Enjoy your videos.
Jason here - Thanks for sharing your experience. It's good to know it's not just me who likes to run and re-run the numbers :) I suspect you're quite right about needing a few more years. I also agree that weathering any downturns only makes us more knowledgeable, confident, and comfortable in the long run - at least that's what I tell myself! Best wishes to you
Wow -this is amazing . So important to hear from someone’s first hand experience - “ the details of retiring , “ Jason’s so down to earth info is very useful thank you so much for sharing ,❤️❤️
Really thought provoking content which I enjoyed watching. 36 minutes felt like 3. I retired early at 56 in March 2020 just as the world went into lockdown so it has been difficult to know whether my budgetting is working as I hoped it should. I spend at least 20-30 minutes each day sorting out my spreadsheets! 🤣 What i have found so far is that by allocating my weekly spend to different pots such as house repair, holidays, gifts etc as needed, being conscious about what I am spending money on and cutting back on more "frivolous spending" all of a sudden I seem to have more money than when I was working! I don't feel as if I'm depriving myself or my family in any way. My wife has continued to work as she is 3 years younger than me and really enjoys what she does so has no immediate plans to retire (possibly 3 or 4 years). At no point has she had to increase what she puts into the "joint account pot" each month and we each keep our own personal spending pots beyond that. The latest increase in energy costs wiĺl be a test of the budgets. Things I've done since retiring which have helped in some ways: 1. Given up smoking. What I was spending gets put away each day and has built into a decent nest egg already. 2. Given up our second car. It was no longer needed. My wife has priority on our remaining car but it has never been an issue and wow has it saved some money. 3. I started doing a lot more walking around our local area but within a few months I realised my fitness level which was a major reason I retired early wasn't great for walking around a very hilly city (Swansea UK) so I reluctantly had to cut back on that. It was disappointing as I was getting to talk to lots of people in our area, many of which I hadn't seen in years. Last week I had a defibrillator implant for my heart condition so hopefully I can start this again in the near future. It was nice yesterday that 2 people stopped my wife asking after me as they hadn't seen me out and about for a few weeks. That felt good. 4. I have my name down for a garden allotment so I can grow some vegetables as our garden is fairly small and has poor soil. In summary, over 2 years in to RE I am finding plenty to do, am looking after my health and finances far more, and am spending much more time with my family. 5. Most importantly is knowing my personal "enough" in all spheres of my life. Sure, I don't think I'll ever be materially wealthy but I now feel richer than I've ever been. All the very best for your future! Baz
Thanks so much for sharing your thoughts, Baz. We really appreciate the time you took to capture your thoughts and experiences. It sounds like you've made a lot of really positive moves since retiring, and ones that should really pay off for you. That's really great! Best wishes to you in all things.
This was an amazing video. The insight is interesting and lot of the same thoughts I have had the past month since I retired. Great not to have the work stress anymore. I basically turn my mind off the last 2 years to get through work. Past month I have been reading and learning that I could not do in the past years while working. I was burned out and now appreciating life. Eating better and getting back in shape. Thank you for these amazing videos. They have helped me prepare. Amazing friendship u 2 have.
Thank you, Greg! We truly appreciate your support. Congratulations on your recent retirement! Keep us posted on how you're doing and what you've learned along the way. Best wishes
Wowww…the note writing, u r correct the little things mean the most. Understanding the “trade” offs, makes u more invested in the journey….best wishes to u both, keep enjoying, stay blessed❤❤
I loved this video. Thank you for the candidness! I think working from home during the pandemic gave a lot of people a glimpse of what their retirement might look like. Two years away from (pension) retirement at 55 YO, and I can certainly continue to work, but your videos and podcasts are going to help with decision-making when the time comes.
Guys, fantastic episode. Thank you. I left my full time roll at the end of the year. Part time teaching to help along the way and also volunteering. Great to hear your story. I appreciate you sharing.
This was such a fantastic episode! I really enjoyed this style with all the b-roll. It's interesting to hear that worrying about withdrawal rates and keeping a closer eye on money in retirement is something you dealt with. The negative sides of following FIRE can make us overly obsessed with watching our accounts and the markets. Love that you and your wife have part-time jobs and so many other volunteer ventures on the side! This type of living has been a huge revelation to me and I think I would like to continue to pursue this instead of hard core going after full FIRE. I recently started a part time job at a local brewery so it's awesome to see you both involved in that industry. Keep doing what you're doing, you guys rock!!
Jason here - Thanks so much. Eric deserves 100% of the credit as he's both principal photographer and editor. He did a really great job! One of the best things about having ultimate time + financial freedom is that *you* get to determine what is right for you. Some will claim you're not "retired" if you do anything to generate income that even smells like work. In the end, you do you! And that answer can change as often as you like, which is also really empowering. Thanks again + best wishes to you.
I'm like Eric, I don't track what I spend BUT I set an annual savings goal (executed monthly) and once I hit the monthly saving target and pay my bills, then I spend what's left on whatever I want including eating out, etc. I've become an aggressive saver too, saving 40% of what I bring in this year. Well I think 40% is aggressive, lol, hardcore FIRE folks might say it's not. haha
Great content! I retired 3/2020… just as the world closed down. I now find it challenging to separate what changed because I retired and what changed because the world shut down. I pivoted to my garden rather than travel but now I have to have someone come take care of everything if I want to get away. It’s also difficult to find that my spouse has spent so much time hiding out because of his health that he no longer has any interest in traveling.
Jason here - Hi Jeanie, thanks very much! It seems we are on a similar timeline - in fact my original RE date was 3/2020, which I extended a few months due to a work project I wanted to see through. You're quite right that it was an unusual time to leave the workplace and be stuck at home for much of the time. For many, "re-emerging" from this time + its restrictions has been less than easy. Best wishes to you and your spouse in navigating things going forward.
I read someone say that the "RE" part of FIRE can mean "Recreational Employment" (like your comment in the description "part time fun jobs"). For someone like Jason who has a school age child and can't hit the ground doing extensive travel - a stereotypical image of 'retirement'... this is a perfect definition of FIRE. It will evolve as life changes, but it goes to show you can retire in many different ways.
Thanks for sharing! I'm on the fence regarding retiring early, since I enjoy my job and it's rewarding. I'm similar to you in enjoying unstructured time and might find RE better than I imagine.
You’re very welcome, Nick. There certainly are a lot of factors at play in such big decisions, aren’t there? Best wishes to you in navigating your own path.
Great video. You touched on a lot of the things I experienced when I retired in 2017 at age 52. My wife followed two years later. My biggest obstacle was and still is medical coverage. I currently have a Healthshare network but will most likely go on our state retirement insurance even though it’s more expensive. That’s been a tough one to navigate. Early retirement is a fluid situation with interests and opportunities changing. Things I thought I’d be doing I’ve lost interest in and developed others. I enjoy your content…it’s real.
Thanks for sharing, KR. Healthcare is indeed one of the biggest concerns of early (and traditional) retirees. We've actually just recorded a follow up to our earlier healthcare episode (linked below in case you've not seen it yet), which will air this summer. Best wishes to you, and thanks very much for your support. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-2fGdfa1pFSg.html
@@TwoSidesOfFI thank you for taking the time to reply. I’ll definitely check it out. I reached FI ABOUT 2014 then worked a couple more years for a cushion. I did FIRE before it was a community. Initially I wondered “What am I missing? Why isn’t anyone else I know doing this?” People we’re constantly asking me how I did it. I’d just tell them pay things off early, keep expenses as low as possible and invest. No big secret. Once RU-vid and podcasts became available, I found my tribe… validation. Best wishes, keep the great content coming
I’m based in the UK and I’m about 18months away from achieving my FI number before I reach 46 years old. At that point, l’ll scale back on work (digital design) which is my main job and pursue more tennis coaching which I’ve been doing as a side gig for the last 4 years. Fortunately have 3 properties in UK and Hong Kong mortgage free with zero debts. As I don’t have family commitments, decisions is a lot easier. When I get to that point in 18 months, the first thing l’ll do is to take a small career break to spend time with my family in South East Asia in Hong Kong and Thailand. In time, I’ll spend more time in Asia than the UK to take advantage of lower cost of living in South East Asia.
Hi Adam, thanks for sharing your plans. You're in the home stretch! How exciting for you. Your strategy sounds like a fun one, and well thought out. Best wishes to you on your journey
Awesome video gentlemen. I appreciate your candor. Looking forward to the big jump in 32 months. Spending is a big concern even when the numbers support it.
Thanks, Ray! So glad you liked it. Yes, that’s transition from saving to spending definitely takes some adjustment. Please keep us posted on your journey!
The discussion at around 29 minutes in is the conversation constantly swirling in my head: romanticizing starting a small business as something to do after 20 years in health care. But do I really want to be saddled with that in mid life when I'd also like to be slowing down? Can relate!
My experience running a small business for the last 10 years has led me to believe there are different degrees of a small business. For example, on one end of the spectrum, consulting. A little consulting is like a hobby, something you kind of do for fun. Small revenue aspirations where life balance is important. If you are serious about a small business, imho, the risk is it can be very consuming energy and time wise at the other end of the spectrum, but the revenue upside can be significantly higher. My advice is make sure you know what end of the spectrum you are headed towards before making a commitment to small business.
@@b2bfusion Jason here - thanks! Those are wise words and I appreciate you sharing them. The downsides of what you mention are precisely what keeps my interest in such things low, at least at this point.
I love this. I’m in my 40’s and retired in 2021. Though I found more affordable living outside the US I travel back often. Since retiring I’ve learned the harp, improved my Spanish and began gardening. I enjoy slow mornings!
I have been running Amazon flex 1 day a week, but i have stopped due to high fuel. Thank You for sharing a idea of working in something you enjoy. I use to be a personal trainer in college but having trouble with taking on a low pay or worried about getting taking advantage of due to skill sets and work ethic
Really enjoyed the episode. Jason, you mentioned once your daughter goes to college, it will open up a what seems like a big change to your retirement. Not just the day to day schedule of school/activities to support your daughter but the flexibility to travel more. How will your budget change? Will your withdrawal rate go up?
Jason here - thanks! So glad you liked it. That's a great question. I suspect that high level, our budget will likely be the same to perhaps slightly higher. As you've likely heard, we're presently drawing down at ~2.7%. I'm certainly comfortable with increasing that a bit. That said, our style of travel won't necessarily be more expensive on net than our lifestyle living where we do. We do explicitly budget for vacations as well, so that will play a role too. In the end, it's too early to say and we'll cross that bridge when we get there! But for now this is how I'm thinking.
Glad you liked it! For a more recent milestone episode, check out Jason’s 30-month update ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-eteraaI_GEA.htmlsi=tC3bMCm0olE6im6v
I've been able to do some FIRE dress rehearsals over the years: 8 months off from work in 2017; 6 months in 2006. Enjoyed it thoroughly and didn't miss working at all! So I am not concerned about how I will fill my days when I stop working the full time gig, but I do feel like the current market downturn is getting me thinking it will happen later now vs. sooner. My wife and I are about to move from the Bay Area to the Central Coast as well (SLO), and pouring wine or working in a brewery taproom are some things I've considered doing to interact socially and make a few extra bucks! I wonder how many people planning to FIRE will now do 'one more year' bc of their portfolios taking a hit?
Jason here- Thanks for sharing, Mike! As you may know, Tim Ferris talks a lot about the idea of mini-retirements. Testing the waters is a really great idea! Cool to hear you’ll be coming to SLO. Don’t be a stranger! You can always drop me a line via the Contact link on our website. Best wishes on the move!
My goal is to be out of my high stress job in some way by 58 . I will both volunteer and work ( to cover extras like yearly travel) to have the well being and meaning I need. I love all sports, working out, my dog, the outdoors etc so that is where my life will be.
I retired 2020 too. I keep a monthly budget/ my wife works 2 days a week as a RN and i just passed my mortgage license exam/ i am thinking about going back full time with all the high prices
Jason here - Thanks, Adam! It was a tricky one for me but Eric gets full credit for doing a really great job with the editing. I do love Monty Python though so I'd welcome that transition :)
In the Culture books (post scarcity sci fi) people still work as waiters for fun. I hit my number a few years ago. I thought I'd quit then. Instead I upped spending (bigger house) and am still working. It's not what I expected to do when crossing that line. But, I'd probably do it again.
The best laid plans, right? In all seriousness, our FI numbers are merely starting points. They grant us the freedom to do things, which can and often does include continuing to work! Best wishes to you
@@TwoSidesOfFI Should probably add --- I went from working at a 100k person company to a startup focused on mathy stuff I studied in grad school. So it's not like I dislike my job...
@@benlackey5068 Jason here - sounds good! I favor startups myself and loved the experience of working at three of them during my own career. Best wishes to you!
I'm extremely frugal and conservative and yet too nervous to retire. The numbers are adding up, but my gut is saying "not now".... and so I keep working my soul sucking job.
You raise an important point, Ann. There are the numbers and then there is our individual risk tolerance. We all have our own definitions of when is the right time to step away. If things at work are truly as awful as you say, it’s worth thinking through what is holding you back. Best wishes to you in working it out
You guys are awesome. Found your channel a few weeks back and have really been enjoying the format and discussions - watching you all the way from Korea. I need to know… mug at 5:28 ‘I ❤️ Fart’?
Jason here - Thanks, Daniel! We really appreciate your support. I'm so glad someone finally commented on the mug :) It reads "I ❤️ To Fart," and was a gift from my daughter years ago. It broke at some point, so after repair it now lives on as a pen holder!
Haha - good way to salvage the dad mug and funny back-story. You should add it as a p.s. in your next morning tea note and come back to let us know how much of the first sip actually got ingested
Jason here - no shift in strategy at this point. Stay tuned as we have a video coming up on this topic! In the meantime, here’s one from a few months ago: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zX09eh4pBtk.html
I am eligible to retire from Active duty military late next year. Fully retiring is very scary for me, and most likely I will semi-retire, and decrease my work hours to about 8-16 hours per week.
Cutting hours or switching to less stressful jobs is a great idea either as a ramp down to retirement or as a longer term move. Whatever works best for you sounds like the right choice to us. Best wishes to you.
Veteran here, trash or treasure feedback - a ton of support groups in place for you that didn't exist 20 years ago for transitioning Vets. All but one of my Veteran friends still work at least PT after their 20, the biggest challenge was and is an identity change from military to civilian - no different from when a professional athlete leaves their sport (study their change patterns.) Try to experiment or put yourself in the mindset of the next goal or gig else you will keep wringing your hands over 'what if'. Identity change is the single biggest stressor because of the change from known to unknown. Know that the service has trained you better than most on adapting to circumstances. Lastly, consider starting your own gig as you are use to getting things done and figuring things out, EBV is a good resource there.
I mean, I think it's pretty useful stuff as you may have gathered by now! I'm not saying we all have to to be into hardcore budgeting of course :) -Jason
It's weird to think like that you are going to spend a lot or too much. Yes you did retire, you did a budget etc But you are still alive, you could still sell stuff, get rid of bills, sell your home and cars etc Move out to a van and go live on the road. I don't know there are so many ways you can enjoy retirement. The only thing that you are going to do is look at how much you are spending? Probably a lot of people would retire right now if they could be able to generate a lot of money or what they spend during the month. I don't know I think that if you understand how to multiply and never be broke. I don't see how you can go out of money. Just don't sell yourself short. Explore!
Eric - I'm curious if you have an exact date (or month) in 2024 you're planning to retire. I was looking at mid 2023 myself, but my significant other convinced me for OMY, so am planning on middle 2024 myself.
I do...or, I did (June of '24)...maybe...maybe not? OMY is a very real discussion happening in our household right now...more on an upcoming episode. Curious to know exactly what it was that convinced you to do another year? Financial? Healthcare? Vesting schedule?
Thanks for the reply; June of '24 is currently where I'm at too and hopefully it comes to fruition! Mostly it was the apprehension of my wife, and wanting a bit more of a buffer in funds; the current market conditions too are feeding the unease. Similar to you I was about 95% equities as of early last fall. I moved some into bond funds last year and very early this year, but also have been building up the cash bucket more so in this time frame. Good Luck!
Eric holds it as part of his index funds (as do all of us who hold total market, S&P 500 index funds, among others). Jason does too, along with an additional long term single stock position.
Thanks for making this episode and sharing very openly about your life post FI. As someone two weeks from early retirement I've found the last year very little in books, blogs, podcasts addresses how you structure a good retired life and leans far to heavily if not exclusively to getting to FI. Retirement Manifesto you mentioned is a great resource. I do enjoy the your regular conversations too and especially helpful is good content on managing finances post FI again lots more about getting there. Another good resource is ru-vid.com Norm and Tina who do a great regular podcast they are also a little older like me and I think have the perspective that extreme FI folks hoping to retire in 30's or 40's may lack. I think it would be great if you did an episode with them. Thanks again for the great content and making the time to share it. Be well!
You're very welcome, Sam. Thanks so much for sharing these resources! Congratulations on your impending RE and best wishes to you. Be sure to keep us posted on your journey!
Good evening , France is on this place ( not stade 🏟 de France lol ) , i live in south of France as a single man without family , i'm minimalist in order to be on retirement as soon as possible , i like watching international videos like these and sharing my experience , this is how i do it : in december 2022 , i will be 40 years old and have closed the reimbursement of my apartment purchased in january 2014 , 12 years money earn back , thanks to my savings on transport-food-accomodation For instance , i left my old car today because of inflation , just a bike to go working , european union will ban petrol and diesel cars for 10 years , so no more expensive repairs Next year , time to invest in real estates to get more money and protect from inflation , congratulations to your journey , we can achieve great things even we're alone , god bless america and vive la France ! 😉
Jason here - Bonjour, Fruga! Thank you for your support and for sharing your experiences. I used to go to the southwest of France often for work in the past, but plan to visit in the south as well. It is certainly a very beautiful part of the world. Best wishes to you in achieving all of your retirement goals!
