What FIRE stage are you in? (sh.itjust.works)

submitted 1 year ago by Sniffy@sh.itjust.works to c/fire@lemmy.ml

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Hi all, I see lots of subscribers in this community. What stage of FIRE are you guys in? curious about the demographic in here.

Neither FI nor RE
FI but not RE
FIRE'd
?

I am in the first category, working towards FI for seven years now and recently reached 100K NW. Unfortunately I live in very HCOL area so I still have long ways to go 🥲

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[-] incogtino@lemmy.zip 11 points 1 year ago* (last edited 1 year ago)

You missed Coast/Barista in your hierarchy

Financial position	Not retired	Semi-retired	Retired
Pre FIRE	x	-	-
Coast	x	x	-
Barista	x	x	-
FI	x	x	x

The difference between Coast and Barista is whether your non-investment income fully covers expenses. To Barista FIRE you must have a bit more invested to support some level of draw-down

[-] Sniffy@sh.itjust.works 7 points 1 year ago

thank you, I was not sure about the detailed hierarchy. So Coast is working with regular full time instead of part time? That seems like what most people would prefer by continuing their current jobs... rather than quitting it to have a more labor intensive part time job.

[-] incogtino@lemmy.zip 7 points 1 year ago* (last edited 1 year ago)

Coast is working enough that you don't have to touch your investments (whether working full or part time, so you can be semi-retired)

Barista is working full or part time in something that doesn't pay enough to cover your day to day expenses, but it's ok because you have enough capital to draw on your investments without compromising your retirement goals

[-] atlhart@kbin.social 7 points 1 year ago* (last edited 1 year ago)

Neither FI or RE.

But solidly in the boring middle, but over halfway. My principal is now large enough, and my runway until retirement short enough, that my contributions have less and less of an impact compared to my compounding interest…well, my theoretical compounding interest if the stock market improves.

Which is fortunate because I got laid off in March. I was worried about what impact this would have on my retirement date…and it won’t. I could stop saving now and still retire when I want to, with a slightly tighter budget. Or work a few more months and retire with the same large budget.

So that’s where I’m at.

[-] NovaPrime@lemmy.ml 7 points 1 year ago

Neither FI nor RE. About 10-15 more years to go assuming a conservative (steady and realistic) timeline. Optimistically around 7 if the stars align and a few previous stock option gambles pop, but i treat those as pricey lottery tickets at best in today's environment.

[-] Sniffy@sh.itjust.works 5 points 1 year ago

wow so you're more than half way there, nice. I do similarly have a few fun tech stocks but they fluctuate like extreme rollercoasters haha.

[-] NovaPrime@lemmy.ml 6 points 1 year ago

We're blessed for sure, to borrow the phrase. Right now everything is essentially on coast for the next few years to build momentum, but I still can't help but obsessively check the sheets and numbers constantly

[-] sugar_in_your_tea@sh.itjust.works 7 points 1 year ago

Neither. But I can at least see the finish line.

I'm at the point where my milestones are kinda fun. Instead of just X saved, it's:

can retire by w/o further investment - currently this is well before "normal" retirement age
can pay off all mortgage if I sell retirement assets
can retire in X county - every year that country gets more and more attractive

I'm hoping to reach FI in ~10 years.

[-] exploding_whale@lemmy.ml 6 points 1 year ago

Neither FI nor RE yet.

[-] yenahmik@lemmy.world 6 points 1 year ago

I'm deep in the boring middle of neither FI nor RE. I'm currently ~halfway to my current goal number, and can definitely see the light at the end of the tunnel.

[-] A2PKXG@feddit.de 6 points 1 year ago

Early twenties, no savings yet. But at least I'm planning ahead.

[-] Kolanaki@yiffit.net 5 points 1 year ago

Ash.

[-] FancyPantsFIRE@lemmy.world 5 points 1 year ago

Should’ve gone with a lower withdrawal rate. 😞

[-] incogtino@lemmy.zip 4 points 1 year ago

But they said it was safe...

[-] FancyPantsFIRE@lemmy.world 4 points 1 year ago

You will safely burn through all your money with a 15% withdrawal rate.

[-] FancyPantsFIRE@lemmy.world 5 points 1 year ago

I’d say FI but not RE. We’ve got enough money saved up where if you squint the numbers kinda maybe work. In practice it’s unlikely I pull the trigger for another few years.

[-] troye888@lemmy.one 4 points 1 year ago

Started only 2 years ago, so have some ways to go.

[-] atlhart@kbin.social 4 points 1 year ago

The Boeing middle, but over halfway. My principal is now large enough, and my runway until retirement shirt enough, that my contributions have less and less of an impact compared to my compounding interest…well, my theoretical compounding interest if the stock market improves.

So that’s where I’m at.

[-] ambitiousslab@lemmy.ml 3 points 1 year ago

I am neither FI nor RE - with about 3 years of expenses saved up at the moment.

Despite not having enough to be FI, I really like having such a decent chunk of savings available in case things go wrong, and it's nice to fantasise about quitting my job and having a few years off when things get tough at work!

My calculations currently say retirement is 17 years away, however, my lifestyle is inflating in front of my eyes, so it could well be much longer :)

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