[USER]

Does anyone else ever just feel behind in the FIRE game?
I’m 31, soon to be married, and my net worth is sitting at about 250k.

95k of that is investments, the rest is my house that I have a rate of 2.7 percent on.

My fiance is not bringing any net worth to the table, but for the past few years we have worked diligently on the mindset of it.

I have a feeling that I will be told that slow and steady wins the race but the idea of not hitting the million mark for another 10-15 years is infuriating

Anyone have advice on what they did to either

A. Make peace with the fact it will take time or

B. Ways they jump started their FIRE journey?

Thanks in advance

[Sunny]

I had to file bankruptcy due to divorce 17 years ago. Lived in trailer home. Poverty.

This year I’m world traveling almost every month.

Never made more than 70k at my job.

Slow and steady.
Find other income streams.

[Kevin]

You’re not in bad shape. Congratulations on the marriage. If you want tobretire early in your early 40s, you’ll need to take additional risks in my opinion.

What worked for me is individual tech stocks and options trading.

What works for you may be different, but the point is that depending on when you want to FIRE, you may need to take additional risks for outsized gains.

[Steve]

I can’t begin to imagine working a job that you hate and not doing anything fun so you can retire early and still be broke.

Find a job that you like and don’t mind going to work. Do things to make memories.

Drive nice cars, have nice vacations.

Save while you are at it and retire a few years early, enjoying the whole ride.

It’s just money, you will make more.

[S.A]

Fact of life that FIRE means to truly sacrifice enjoying life when you are young and focusing exclusively on saving and trying to retire early. You are only 31.

Life is just starting out. Achieving early retirement means you have to save millions (yes millions) by an early age and then live a lifestyle that allows you to live on your savings for 40-55 years.

Is that really what you want?

Unfortantely, most FIRE groups are just people asking financial questions but are not geared to what FIRE really is.

To accumulate $1 mil in 10-15 years means you need to save and invest $50k to $75k every year.

That’s a ton of money unless you are making a huge salary.

You need to sacrifice spanding money on enjoyable things just to save.

Trust me that’s not an enjoyable lifestyle

[Aaron]

I think you’re doing pretty well for 31. Imagine trying to buy a house now. Hopefully you can get your new wife to contribute to building your collective net worth.

Be sure to have a prenuptial agreement so you are protected if things go bad.

I already went through the marriage/divorce thing and dodged a big bullet.

I certainly wouldn’t listen to the advice to take on more risk.

Yeah you will meet people who took on a lot of risk and got lucky, but you won’t hear from the ones who were unlucky because they won’t be running around thumping their chests trying to give advice.

The best thing you can do is avoid major missteps. Control risk and try to insulate yourself from the role of bad luck.

Stay focused on your longer-term goals, make feasible plans to achieve them that allow you to rely on persistency, not luck.

[Aaron]

I never made peace. Once I discovered CANSLIM, William O’Neal, David Ryan and Mark Minervini I never looked back.

I caught CVNA for a double, PLTR for a triple and TSLA for a double this year.

Also caught BITO for massive Dividends and capital appreciation.

[Aaron]

Cash out your brokerage account and head to Vegas. Pick a single number on the roulette wheel.

If you hit, you will be FIRE in no time.

[Jatin]

Surely make a peace, but also carry the hope. Imagine people becoming millionaire just because they bought some $20 bitcoins in the past.

On the contrary, people might have spent hundred bitcoins on a slice of pizza. Stories are either way, so never lose hope.

I would suggest you look into crypto market and find coins that might skyrocket in next five years.

You will not be spending fortune on those but enough to actually get your chances raised to make 1 million.

Good luck!

[Colin]

See where you can make big changes to reduce spending and increase income. For example, how do you get around?

If you’re young with no kids, do you really need a car?

You could sell your car and ride a bike.

I am much healthier, happier and wealthier for choosing to walk and bike everywhere, and I look forward to the day when I can sell my car and truly live car-free without the monthly expense of insurance.

Most people’s biggest expenses are housing and transportation.

Can you live in a smaller and more economical space? Do you need that car payment?

Can you earn more at work? Just try to identify accelerants, needle-movers by cost-cutting and increase income.

[Noa]

We are moving to Mexico with our US salaries, not so much to increase our savings rate but to inflate our lifestyle without decreasing it.

The journey is long. Automate things and focus on other aspects of your life.

Money isn’t very interesting to focus on… especially if you VTSAX and chill!

Enjoy your engagement, your wedding, your marriage, start a family… Live your life.

[Amy]

I worry about the fact that you have pointed out your future wife not bringing net worth. Certainly you could work in changing that and should work on that.

But the fact that you mention it is in itself troubling too.

I wonder if you don’t resent that a bit. I certainly would actually. Especially as you seem very intent in your timeliness and the FIRE.

If you do marry get a prenup( yes I have one) as the person you marry should not want you for your money but for yourself.

Most prenups just say that the money either of you had before the marriage is their own exclusively and the money made within the marriage will be split evenly.

Very reasonable actually.

[Donna]

I don’t think you are behind. You can be broke at 45 and be a millionaire at 47 because you invented something or put up a business in that year.

I don’t think you should live your life for retirement.

You will miss your prime years preparing for your end. Enjoy enough, save enough and be present to your life now.

The only thing you can do is be responsible with your money and do your best but do not live in the future.

Figure out what you need and work for that, we don’t need too much because if you prepare way more then what you need it’s injustice to yourself.

Someone else will enjoy it.

[Glocelyn]

You have me being married soon and she doesn’t bring anything to the table. Please think of prenup especially if you live in the states that has community law.

The moment you say “I Do” 50% goes to her.

Being married means togetherness but not necessarily checking, Savings and investment. Unfortunately marriage is not a guarantee thus you need to guarantee your own finances.

Not because you’re heart in it don’t let it rule your finances.

I’m sick and tired of men getting screw after a divorce well mostly men.

If you can make her agree to create join account for household expenses whereas each one can contribute 50% up to 70% of your net pay that would be great.

Nowadays equal sharing is ideal but of course culture still plays a great part whereas husband is the provider.

I have a friend that receive allowance from her husband when they start a family and she choose to stay home.

But of course not all can do it. You have a long way to go but ahead of the game.

A lot could happen until you retire. Good luck

[Ryan]

I was in a similar position at that age (I’m almost 43 now) but I didn’t have any house equity.

I hit the seven-figure club right around 40 with the help of good savings (and a nice bull market), so you’re not as far behind as you think.

Keep at it, you’ll get there. Good luck!

[Jake]

Reduce spending, increase earnings or find ways to enjoy your time in the workplace until your FIRE date..or all 3 ideally.

I’ve felt the same but getting creative in earning NW faster like utilizing your skills in an entrepreneurial fashion can go a long way in a short period of time even if your net cash flow may not increase at quite the same pace!

[Derek]

Seems pretty good at 31. House at 2.7% interest is basically free from and board.

I’m not sure how down your wife would be, but you could potentially rent out rooms in your house and live free.

[Maquissia]

Since you’re getting married, live off one income and invest the other income. That will Jumpstart your FIRE journey.

Imagine investing 50K or whatever income you have a year?

[Jungwoo]

I would make peace with ur progress first, which isn’t bad at all.

You’re in the 79th percentile. Money is means, not the end goal.

[Jordan]

I think the first step is to do an assessment of how you and your future spouse feel about your careers.

Look up some statistics from your state or country and see how your income compares to other households.

If you are well above average then maybe don’t stress as much and enjoy the time off you do have.

If you’re below average start looking to see if you can upgrade your career or get trained to do something more lucrative.

[Author]

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