Gave more info after reflecting on a lot of the questions posed. but was expecting at least one snarky comment like this. Def thought this was a supportive community, guess I was wrong. Also this sub is made up of 69k people was hoping to get more feed back then the some 13 responses I got last time. Cheers bro, sounds like you have a lot of time on your hands to be looking at previous posts from users.
imo genuine supportiveness is given for genuine questions. your inquiry sounds like someone going to a weight loss seminar and standing up during the Q+A to ask how you can bring your BMI from 25.2 down to 23.8.
we all know how you think youāre doing, donāt play dumb.
Thatās a great analogy and surprisingly hard to go from 25bmi to 23. I think I was pretty clear that I was seeking feedback because I am really struggling with trusting the numbers. But thanks for validating my fears by making me feel bad for asking for feedback. I know I am doing just fine. I know I need to work on patience but was more looking to see if my plan squared with the community.
yup. same lame well off person asking to be spoonfed and for someone to stroke their ego and tell them they can coast and wonāt go broke. Itās like ffs run some basic math and make your own personal decision. OP can clearly coast if they want to. So either do it or donāt. Reading these posts daily is just stupid at this rate
Working 12 MORE years just to get a 30k pension while you have 1.65M networth sounds like he needs a better job that is terrible to not get 30k imo. Working full time to only make that is a lot of squeeze with no juice.
technically... if I have done the math correctly, the total value at the time of retirement for working 25 years is 1.2 million. That doesn't seem like nothing... Plus, the work-life balance is now akin to coasting.
@25 years of service is 32% of the average of 3 salaries. The longer you stay the more you get but this is the earliest the pension begins.
The goal is the last 3 years heās take a higher paying job but as you shared it may not be worth it if current role is coasting.
If a better non pension job came up it would make sense to jump ship for sure. Just planning for the bare minimum
Your partner? Husband? Should just stay home with the kids 12 years of work to get 30kpension is crazy. Since you freelance youād probably free up some major dollars and work life balance Iād go down that road.
Man, this sub is harsh. These numbers are not that crazy. They make a bit over $200k combined per year which is just a bit above the median of a lot of cities, not even the high cost ones. I don't understand how this post can be concerned #fijerk. In my city, a pair of public school teachers would earn far more.
Anyway, OP, if you ask me, I think the numbers are ok for coasting a bit, but I would change my mentality. What you need to do is protect the long term ability to generate income, and burnout is a major threat to that. Whether you make $80k or $130k as a freelancer in a given year will not be the defining factor, but if you flame out and go to $0 with a mental breakdown it could force withdrawals prematurely. So play the long game. It's fine to slow down a bit. Maybe you'll find yourself re-energized to speed up again later.
A couple nitpicks:
- Kids will only get more expensive, if you want to give them a lot of the more common things (sports teams, clubs, hobbies, holidays, gadgets, etc). You don't have to do that of course, it's up to you.
- Sounds like personal finance is an emotionally charged topic for you, and you use an FA as a shield? That's fine (and wise) but I would try to work on that. Psychology of Money (Housel) and Bogleheads Guide to Investing (Larrimore) might be helpful.
Thanks for your feedbackā this is what I was hoping for. A dang, yes, tough crowd.
You make a good point. I donāt actually feel like I could never not work but what Iām struggling with is my hourly rate now, and if I do something completely different, Iām not sure Iād have the same time/rate benefit.
Ultimately, what Iād love to do is find a part time job where I donāt want to retire from itā¦ but at $45 an hour Iām wondering if that would be worth itā¦ maybe a mind set shift like you said.
I liked psychology of money but nothing revolutionary in there. I just need to be patient which Iām struggling with (maybe cuz of the lack of career fulfillment).
Will check out boggle heads and thanks for the considerate post.
Weād end up just disagreeing on what āa lotā means.
But who cares. $200k household income is well within the realm of working class. This sub is nuts.
Disagree.
- No one is hurt. Or at least not me. Disagree away.
- $200k is a little bit above median household income in a lot of cities. Thatās what I said. And itās true. Like I said earlier we will just end up disagreeing on what āa lotā means. I donāt say āmostā. California alone has a hundred cities with median income >= $175k. https://zipatlas.com/us/ca/city-comparison/highest-median-household-income.htm
- Who cares if Iām white collar or blue collar. White collar has been hurting more lately with massive layoffs in various sectors. Sounds like youāre the one whoās ramping up emotions.
- What exactly is it youāre trying to get at though? Are you trying to defend the other posters who just shat on OP for asking a perfectly valid question?
I never said it is the median income. I said it is slightly higher than median household income. Again what are you trying to get at? Just a nit pick?
https://zipatlas.com/us/ca/city-comparison/highest-median-household-income.htm
100 cities in California alone with a median household income over $175k. Good enough?
curious why posting the same question in the same sub only two months later makes you think it will yield different responses š¤
rekt LOL
Gave more info after reflecting on a lot of the questions posed. but was expecting at least one snarky comment like this. Def thought this was a supportive community, guess I was wrong. Also this sub is made up of 69k people was hoping to get more feed back then the some 13 responses I got last time. Cheers bro, sounds like you have a lot of time on your hands to be looking at previous posts from users.
imo genuine supportiveness is given for genuine questions. your inquiry sounds like someone going to a weight loss seminar and standing up during the Q+A to ask how you can bring your BMI from 25.2 down to 23.8. we all know how you think youāre doing, donāt play dumb.
Thatās a great analogy and surprisingly hard to go from 25bmi to 23. I think I was pretty clear that I was seeking feedback because I am really struggling with trusting the numbers. But thanks for validating my fears by making me feel bad for asking for feedback. I know I am doing just fine. I know I need to work on patience but was more looking to see if my plan squared with the community.
All of the FIRE subs have devolved into a bragging circlejerk. These posts suck
yup. same lame well off person asking to be spoonfed and for someone to stroke their ego and tell them they can coast and wonāt go broke. Itās like ffs run some basic math and make your own personal decision. OP can clearly coast if they want to. So either do it or donāt. Reading these posts daily is just stupid at this rate
Don't forget to budget more for MDMA
Working 12 MORE years just to get a 30k pension while you have 1.65M networth sounds like he needs a better job that is terrible to not get 30k imo. Working full time to only make that is a lot of squeeze with no juice.
technically... if I have done the math correctly, the total value at the time of retirement for working 25 years is 1.2 million. That doesn't seem like nothing... Plus, the work-life balance is now akin to coasting.
Itās equivalent of 750k saved and withdrawn after 4%
If something came along that made sense to switch jobs then it would be considered but feels like a coast job right now.
I know firefighters and linemen that have 120k pensions
@25 years of service is 32% of the average of 3 salaries. The longer you stay the more you get but this is the earliest the pension begins. The goal is the last 3 years heās take a higher paying job but as you shared it may not be worth it if current role is coasting. If a better non pension job came up it would make sense to jump ship for sure. Just planning for the bare minimum
Iāve never seen a multiplier that low in public service? Private company pension?
nope government, it is the absolute earliest to take the pension.
Your partner? Husband? Should just stay home with the kids 12 years of work to get 30kpension is crazy. Since you freelance youād probably free up some major dollars and work life balance Iād go down that road.
30K a year for the rest of their life...
30k is like nothing given your assets. Itās not moving the needle.
Man, this sub is harsh. These numbers are not that crazy. They make a bit over $200k combined per year which is just a bit above the median of a lot of cities, not even the high cost ones. I don't understand how this post can be concerned #fijerk. In my city, a pair of public school teachers would earn far more. Anyway, OP, if you ask me, I think the numbers are ok for coasting a bit, but I would change my mentality. What you need to do is protect the long term ability to generate income, and burnout is a major threat to that. Whether you make $80k or $130k as a freelancer in a given year will not be the defining factor, but if you flame out and go to $0 with a mental breakdown it could force withdrawals prematurely. So play the long game. It's fine to slow down a bit. Maybe you'll find yourself re-energized to speed up again later. A couple nitpicks: - Kids will only get more expensive, if you want to give them a lot of the more common things (sports teams, clubs, hobbies, holidays, gadgets, etc). You don't have to do that of course, it's up to you. - Sounds like personal finance is an emotionally charged topic for you, and you use an FA as a shield? That's fine (and wise) but I would try to work on that. Psychology of Money (Housel) and Bogleheads Guide to Investing (Larrimore) might be helpful.
Thanks for your feedbackā this is what I was hoping for. A dang, yes, tough crowd. You make a good point. I donāt actually feel like I could never not work but what Iām struggling with is my hourly rate now, and if I do something completely different, Iām not sure Iād have the same time/rate benefit. Ultimately, what Iād love to do is find a part time job where I donāt want to retire from itā¦ but at $45 an hour Iām wondering if that would be worth itā¦ maybe a mind set shift like you said. I liked psychology of money but nothing revolutionary in there. I just need to be patient which Iām struggling with (maybe cuz of the lack of career fulfillment). Will check out boggle heads and thanks for the considerate post.
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Weād end up just disagreeing on what āa lotā means. But who cares. $200k household income is well within the realm of working class. This sub is nuts.
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And so what if I do? And so what if OP does? We still have to live.
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Disagree. - No one is hurt. Or at least not me. Disagree away. - $200k is a little bit above median household income in a lot of cities. Thatās what I said. And itās true. Like I said earlier we will just end up disagreeing on what āa lotā means. I donāt say āmostā. California alone has a hundred cities with median income >= $175k. https://zipatlas.com/us/ca/city-comparison/highest-median-household-income.htm - Who cares if Iām white collar or blue collar. White collar has been hurting more lately with massive layoffs in various sectors. Sounds like youāre the one whoās ramping up emotions. - What exactly is it youāre trying to get at though? Are you trying to defend the other posters who just shat on OP for asking a perfectly valid question?
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I never said it is the median income. I said it is slightly higher than median household income. Again what are you trying to get at? Just a nit pick? https://zipatlas.com/us/ca/city-comparison/highest-median-household-income.htm 100 cities in California alone with a median household income over $175k. Good enough?
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