FIRE? Retire early? Frugal?

Social, economic and environmental issues in our ever-changing world.

Re: FIRE? Retire early? Frugal?

Postby Smurf » Dec 31st, 2018, 8:13 am

I/we had a different outlook. We weren't that excited about material things, but if we wanted them we got them. Always tried to buy good quality and made it last. It got us in bad spots a couple of times when we still had mortgages at 15% or more. Just worked harder and kept on going. If we needed something I worked harder and got the money. My wife worked a couple of very short stints but basically stayed home with the kids till the last one left school. We always took at least one good vacation a year and a few shorter trips. Took the kids to Europe, Great Britain, all over Canada and the United States. We helped the kids with their schooling and first mortgages. Once they were gone we started travelling at every opportunity and still do.

Our life saver was rental properties. Mortgage on our first home to buy the first property and never looked back. Owned one business for 3 years after I quit my salary job. Great experience but it tied us down too much so it was short lived. Retired at 55 and have not looked back. We are very glad we did because now after a couple of decades of fun we are settling down, partially due to health. Pick our trips etc a little more carefully and hope to keep going for a long time. No matter what we have a ton of great experiences and memories.

Life has been generally good to us but I'm not sure I would recommend the just keep working harder and harder to afford what you want. However from day one we never have missed out on the fun, be it parties, dances or whatever we could find. We have just slowed down a lot in the last few years and picked our poison more carefully.

My recommendation would be to retire as soon as you can and enjoy doing what you want to do. I have seen too many people wait to long and never get to enjoy themselves. Life is not all about money and stuff. There is so much more out there. Our hobbies include travel, dancing, Tia Chi, gym, hiking, 4x4ing, knitting, painting, photography, woodcarving and whatever else we find to do together. Frugal, yes, but not cheap.
Consider how hard it is to change yourself and you'll understand what little chance you have of changing others.

The happiest of people don't necessarily have the best of everything, they just make the most of everything that comes their way.

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Re: FIRE? Retire early? Frugal?

Postby Smurf » Dec 31st, 2018, 9:09 am

I forgot the most important thing "GET OUT OF ANY DEBT AS FAST AS YOU CAN" unless it is making you money, paying for itself. It will seem like you doubled your income when you get debt off your back. Also learn to do things for yourself instead of paying others. I did a lot of trial and error but nowadays with the net you can get the basic idea of how to do anything. With me being away so much my wife learned how to do a lot of maintenance etc and still enjoys helping. Nothing is impossible if you put your mind to it. It depends how important it is to you and how far you are willing to go.

If I had it to do over again I doubt I would follow FIRE but I would certainly work towards and early retirement and freedom. We all deserve some fun and freedom!
Consider how hard it is to change yourself and you'll understand what little chance you have of changing others.

The happiest of people don't necessarily have the best of everything, they just make the most of everything that comes their way.
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Re: FIRE? Retire early? Frugal?

Postby jimmy4321 » Dec 31st, 2018, 9:33 am

Also carry cash leave your cards home, your inner cheapskate will come to life.
Whether your self employed or an employee, think of how many hours of grunt work, aggravation, or nasty customers you had to endure for that cash.
Basically associating every dollar to time and effort in your life earning it.

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Re: FIRE? Retire early? Frugal?

Postby lesliepaul » Dec 31st, 2018, 12:08 pm

Went to University in the 70's but had a summer job at a large Canadian company when I was 17. Finished school and decided to stay with the company. Growing up my parents provided me with what I needed...…..not the "toys" my friends had. When my income rose considerably in the mid 70's I was in "saving mode". Rented a house (room mate paid my rent) that I ended up owning by the time I was 26...…...no mortgage. I will say that everything lined up for me because the house price was well under market value at the time. From that point on I wanted some of the things that my friends had been accustomed to, except they did not own a house. Vehicles, snowmobiles, BIG stereo's were all bought with cash. Sell first house in the 80's for a big (at the time) profit and build another house, no mortgage......sell that for a small profit and build another house and again...….no mortgage or money owing. AGAIN, I made the decision to have my money grow...……….not every investment was successful 20 or 30 years ago but I was always in a position to "weather the storm" where others weren't.

Friends were in the bars every night and I would join them but the difference was I had ONE drink as opposed to their FIVE or more. I did the rough math on the money many of them spent on booze over 35 working years and being conservative...…...close to a $150,000.

I guess my idea THEN was to save for the important things in life (to me) at a young age instead of "living for the moment" and realizing 30 years later...…..WHAT THE :cuss: happened! Freedom 55 was the goal and after 38 working years at the same company I walked with a decent pension. Talk to a friend regularly who worked with me and who retired a few years after me and it is amazing how many of our co-workers have died right after retiring or not quite even getting to retirement. The job could be stressful for many or a piece of cake for others...……...I always said "doing nothing at retirement is easy...…...I had 38 years of practice doing nothing". Kind of an "in joke" for people that knew me.

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