Quote:
Originally Posted by pepper24
We sat down when Covid started and figured we could realistically retire in our mid-40s. We're early 40's right now so in 3-5 years which is way too soon. It was weird though as we never really thought about it or talked about it before then.
I think we'll keep going until the kids are out of the house then work a few more years so 10-15 more years at least. Love to work and have time now to figure out how leisure time can replace that stimulation and social connections. I think after financial part the lack of stimulation is toughest for most.
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There's retiring and living on dollar store cat food, discount dried goods, and old army rations... that's pretty lean FIRE. Quite possible (beyond my exagerations last sentence) but that's a very simple existence without much wiggle room at all. Then there's fat-FIRE... which is a 6-figure retirement income. Some folks will barely get beyond lean, and some aim for fat and plan to work until they're 65+ to get there.
This COVID experience has shown me that we can retire and live fairly ok without extravagant expenditures and still have healthy and energy to spend with the teenagers, with our parents, with friends/family, pursuing travel and sports and real activities and "living" in their 40-50's. This is where it's at IMO. I also see too many mid 60's and older people/couples really struggling either financially or socially (too many sick, or they're dying off). I'd love to retire from "required" work in my early 50's, but it's looking like that's quite optimistic unless money magically appears.