Long time reader, first time post.

[Kong Vang]

A little about myself. Male, 41, single (not looking), and obviously Hmong.

Just wondering if anyone here is aware of FIRE or doing Financial Independence Retire Early? Any mutual friends on this subject is welcome.

KV

[hmgROCK]

The FIRE community is really toxic
I join a discord group and these people are freakin selfish as fawk

It consist of high incomer
Earn as much as you can
And screw the rest

think $200k+ annual is normal

[hmgROCK]

minimum is $500k
you can go full bond 100% on your $500k and earn 4% interest
and live on a $20k annually

something like this
https://investor.vanguard.com/mutual-funds/profile/performance/vbtlx

might need to find a low cost of living area

but the goal is to always hit that $1 MILLION!!!

$1,000,000 x 4%=  $40k interest annual alone

[Kong Vang]

The FIRE community is really toxic
I join a discord group and these people are freakin selfish as fawk

It consist of high incomer
Earn as much as you can
And screw the rest

think $200k+ annual is normal

I am not sure I agree with your assessment. I consider myself part of FIRE. Yes, it's true that I am fairly new to FIRE, but I am pretty generous in most way and I don't feel I am toxic to myself or anyone. I make about 120k a year and because of my frugal lifestyle, I am able to save almost 50% of my income yearly.

I have a 10 year old car, that I keep in running order. I don't have cable, my cell phone is 25 bucks a month. I don't eat out very much and when I do, it is only with friends on special occasions. I love to travel but usually get by on 1 to 2 star hotels. I give to the MS Society, Red Cross and my Church. I help my family during weddings, special gatherings and deaths.

I also don't think everyone else is screwed. I think anyone can do it and I would love to give advice to anyone who's interested. 

KV

[hmgROCK]

I am not sure I agree with your assessment. I consider myself part of FIRE. Yes, it's true that I am fairly new to FIRE, but I am pretty generous in most way and I don't feel I am toxic to myself or anyone. I make about 120k a year and because of my frugal lifestyle, I am able to save almost 50% of my income yearly.

I have a 10 year old car, that I keep in running order. I don't have cable, my cell phone is 25 bucks a month. I don't eat out very much and when I do, it is only with friends on special occasions. I love to travel but usually get by on 1 to 2 star hotels. I give to the MS Society, Red Cross and my Church. I help my family during weddings, special gatherings and deaths.

I also don't think everyone else is screwed. I think anyone can do it and I would love to give advice to anyone who's interested. 

KV

yeah

you are good man.. high incomer
you will be there in no time
just keep maxing your ROTH IRA, 401k, HSA and tax advantage account.

depend on how much you want and stuff
i say $500k MINIMUM
$1 million to be safe

donation and stuff



the FIRE community is too selfish and greedy for my taste
too much about themselves
don't worry too much, bro
you are probably wayyyy better off than some of us here

hahah

i plan on working till 65 years old
got a long way to go for me
early 30s

[Kong Vang]

I am sorry if I came of as arrogant or self promoting. That was not my intent at all.

First off, I do see a lot of our Hmong people struggling financially... especially those around my age or my generation. And yes, I do have to admit, saving money and investing money has been difficult for Hmongs in general. When you're only making 30k a year and have a family of 4 to support, it is hard. I get it, I get the struggle. So, me coming here and saying I am saving 50% of my income may seem like I am bragging about myself. Please understand this is far from it. My intent is not to boast about how much I am making or saving. My intent is to find people who's doing FIRE, whether knowingly or not, and help each other succeed.

I understand FIRE is easier with a higher income, but there are some in the FIRE community making less than 60K a year and still manages to say 1/3 of their income. I also want to stress that it is not just about how much you make, FIRE also stresses the importance of living within your means, in some cases far below. This may seem uncomfortable to some, but as with most things in life, we can only change our life if we change our routines.

I think we can all agree that working until we are 65, if you're lucky, before you can retire is not ideal. I would even guess that most of us would rather not do so?

[hmgROCK]

I am sorry if I came of as arrogant or self promoting. That was not my intent at all.

First off, I do see a lot of our Hmong people struggling financially... especially those around my age or my generation. And yes, I do have to admit, saving money and investing money has been difficult for Hmongs in general. When you're only making 30k a year and have a family of 4 to support, it is hard. I get it, I get the struggle. So, me coming here and saying I am saving 50% of my income may seem like I am bragging about myself. Please understand this is far from it. My intent is not to boast about how much I am making or saving. My intent is to find people who's doing FIRE, whether knowingly or not, and help each other succeed.

I understand FIRE is easier with a higher income, but there are some in the FIRE community making less than 60K a year and still manages to say 1/3 of their income. I also want to stress that it is not just about how much you make, FIRE also stresses the importance of living within your means, in some cases far below. This may seem uncomfortable to some, but as with most things in life, we can only change our life if we change our routines.

I think we can all agree that working until we are 65, if you're lucky, before you can retire is not ideal. I would even guess that most of us would rather not do so?

The whole FIRE community is just really toxic in general
Out of touch with the whole community

It focus on high EARNER INCOMER

For example this meeka say he was saving 75% of his $200k income
Yea that $50k left before tax

Thats easy man,


Try 75% on a $35k
Good luck with your rent

Lol

You doing pretty good man
You will retired early at this pace
Just keep investing

[DuMa]

First off, ask yourself a few questions before taking the oath to live this type of lifestyle. 

What you are working with is opportunity cost: To give something away just  to gain something in the future. 

Now the factor that you must ask yourself is "TIME" 

You got to see what is more important to you.  If you haven't live in the NOW then how can you live in the future?  Listen to yourself to what you are saying.  I'm living on a frugal diet when I'm 40 to 50 just to retire young in the 60s?  Now ask yourself another question.  You have your richest and gold when you retire young but what's left of you?   You can't even guaranteed that you will be healthy and alive by then to enjoy your riches. 

Whatever you do, know what you are doing and live with no regrets.  If you want to sacrifice your younger years for your older ones then that's you.  I rather enjoy "enough" of every years of my life and still have "enough" when I'm in my golden years. 

Time is something you can not get back.  We live our lives in decades.  You are in your 40s now but your 30s and 20s and 10s already passed.  You got 50s and 60s and maybe 70s and by 80s, we all die.  You don't want to live with regrets in any decades that flew by so fast that you missed it.

One thing I know for sure.  Just make sure you don't die while saving them coins cuz someone else is gonna take away your coins. 

[hmgROCK]

First off, ask yourself a few questions before taking the oath to live this type of lifestyle. 

What you are working with is opportunity cost: To give something away just  to gain something in the future. 

Now the factor that you must ask yourself is "TIME" 

You got to see what is more important to you.  If you haven't live in the NOW then how can you live in the future?  Listen to yourself to what you are saying.  I'm living on a frugal diet when I'm 40 to 50 just to retire young in the 60s?  Now ask yourself another question.  You have your richest and gold when you retire young but what's left of you?   You can't even guaranteed that you will be healthy and alive by then to enjoy your riches. 

Whatever you do, know what you are doing and live with no regrets.  If you want to sacrifice your younger years for your older ones then that's you.  I rather enjoy "enough" of every years of my life and still have "enough" when I'm in my golden years. 

Time is something you can not get back.  We live our lives in decades.  You are in your 40s now but your 30s and 20s and 10s already passed.  You got 50s and 60s and maybe 70s and by 80s, we all die.  You don't want to live with regrets in any decades that flew by so fast that you missed it.

One thing I know for sure.  Just make sure you don't die while saving them coins cuz someone else is gonna take away your coins.

The FIRE COMMUNITY
they want to work for a few years 5-10 years
Higher income $100k-300k

And retired in their 30s

Its pretty crazy

After that they just travel and do nothing
For the next 30+ years till they die


Pretty crazy

[Believe_N_Me]

I don't care how people want to live their lives and spend their money. But I do take issues with them when they start passing the blame onto others and then vote for socialist Demonrats like Bernie Sanders and Joe Biden because idiots believe these socialists can save them from their financial woes.

THIS IS THE BIGGEST ISSUE I HAVE WITH HMONG PEOPLE AND THEIR ILK.

You made the decision to live your best life by marrying young and popping out a bunch of kids. You alone made the decision to take out a huge car loan...and so on.

[Kong Vang]

First off, ask yourself a few questions before taking the oath to live this type of lifestyle. 

What you are working with is opportunity cost: To give something away just  to gain something in the future. 

Now the factor that you must ask yourself is "TIME" 

You got to see what is more important to you.  If you haven't live in the NOW then how can you live in the future?  Listen to yourself to what you are saying.  I'm living on a frugal diet when I'm 40 to 50 just to retire young in the 60s?  Now ask yourself another question.  You have your richest and gold when you retire young but what's left of you?   You can't even guaranteed that you will be healthy and alive by then to enjoy your riches. 

Whatever you do, know what you are doing and live with no regrets.  If you want to sacrifice your younger years for your older ones then that's you.  I rather enjoy "enough" of every years of my life and still have "enough" when I'm in my golden years. 

Time is something you can not get back.  We live our lives in decades.  You are in your 40s now but your 30s and 20s and 10s already passed.  You got 50s and 60s and maybe 70s and by 80s, we all die.  You don't want to live with regrets in any decades that flew by so fast that you missed it.

One thing I know for sure.  Just make sure you don't die while saving them coins cuz someone else is gonna take away your coins.

Hey Duma…
 
Thank you for sharing. Frankly, these were not the questions or reactions I was fishing for but nonetheless it’s the start of an open dialog.

From reading your reply, I get the impression that your opinion of FIRE is someone who sacrifices a lot of conveniences and comfort in the pursuit of money. Again, forgive me if I misinterpreted your message incorrectly as it is hard to read between the lines. The only way to directly address your comments is of course to expose more of myself. To your point, I don't believe I am losing TIME or had to sacrifice anything of value being on FIRE.

It was in my late 20s is when my income started to take off and as a result of the higher income, I started to “live”. Bought a house, new cars, exotic vacations, furniture and electronics for my home. Most of these purchases were on credit, gambling that my future income will support my wants. In 4-5 years’ time, newer model of my cars came out, the electronics were obsolete, and my clothes were out of style… of course this meant having to buy everything all over again. It was after repeating this process for a second time that I came to realize something very profound, something I am still holding onto today.
 
“Why am I buying things with money I don’t have to impress people who I did not like?”
 
Buying stuff did not make me happy, at least not lasting happiness. Slowly and many times by trial and error, I started to change my habits. I stopped buying things to begin with. I went from a do I want it to a do I need it mindset which lead me to start buying things with cash. As time passed, I stopped partying, I stopped drinking, and I stopped watching TV. I don’t follow anyone on Twitter or Instagram, I don’t have a Facebook account and I don’t know who got kicked off the island on Survivor. As a side effect and almost by accident, I then had more time on my hands. I started to exercise more, went hiking, spending more time with friends and family and helping them with their projects and errands. I learned how to cook and got good at cooking.
 
My frugal lifestyle means I go to funerals in the same sport coat and dress shoes as the last funeral I was at… But to me, I truly think my friends and family is more appreciative of my presence and support and is less concern about the clothes I am wearing.
 
My frugal lifestyle means my vacation are spent with a few good friends hiking part of the Pacific Coast Trail and less about the size of the hotel we stayed at or if the lobby floor was paved with real marble.

My frugal lifestyle means I drive in a 10 year old Camry but it is reliable and paid for and I don't have to worry about the next monthly payment.

One question I ask myself every day and I would like you and everyone reading this to also ponder… “IF they stop paying me tomorrow, will I still be going to work and do my job?” If the answer is NO, which it was for me, then the picture becomes really clear on what I need to do and change. With some luck, I will be able to do the things I love with the people I like. My wish to not to be rich, my wish is to be in a position where I can choose the work I enjoy. NO regrets.

[hmgROCK]

Hey Duma…
 
Thank you for sharing. Frankly, these were not the questions or reactions I was fishing for but nonetheless it’s the start of an open dialog.

From reading your reply, I get the impression that your opinion of FIRE is someone who sacrifices a lot of conveniences and comfort in the pursuit of money. Again, forgive me if I misinterpreted your message incorrectly as it is hard to read between the lines. The only way to directly address your comments is of course to expose more of myself. To your point, I don't believe I am losing TIME or had to sacrifice anything of value being on FIRE.

It was in my late 20s is when my income started to take off and as a result of the higher income, I started to “live”. Bought a house, new cars, exotic vacations, furniture and electronics for my home. Most of these purchases were on credit, gambling that my future income will support my wants. In 4-5 years’ time, newer model of my cars came out, the electronics were obsolete, and my clothes were out of style… of course this meant having to buy everything all over again. It was after repeating this process for a second time that I came to realize something very profound, something I am still holding onto today.
 
“Why am I buying things with money I don’t have to impress people who I did not like?”
 
Buying stuff did not make me happy, at least not lasting happiness. Slowly and many times by trial and error, I started to change my habits. I stopped buying things to begin with. I went from a do I want it to a do I need it mindset which lead me to start buying things with cash. As time passed, I stopped partying, I stopped drinking, and I stopped watching TV. I don’t follow anyone on Twitter or Instagram, I don’t have a Facebook account and I don’t know who got kicked off the island on Survivor. As a side effect and almost by accident, I then had more time on my hands. I started to exercise more, went hiking, spending more time with friends and family and helping them with their projects and errands. I learned how to cook and got good at cooking.
 
My frugal lifestyle means I go to funerals in the same sport coat and dress shoes as the last funeral I was at… But to me, I truly think my friends and family is more appreciative of my presence and support and is less concern about the clothes I am wearing.
 
My frugal lifestyle means my vacation are spent with a few good friends hiking part of the Pacific Coast Trail and less about the size of the hotel we stayed at or if the lobby floor was paved with real marble.

My frugal lifestyle means I drive in a 10 year old Camry but it is reliable and paid for and I don't have to worry about the next monthly payment.

One question I ask myself every day and I would like you and everyone reading this to also ponder… “IF they stop paying me tomorrow, will I still be going to work and do my job?” If the answer is NO, which it was for me, then the picture becomes really clear on what I need to do and change. With some luck, I will be able to do the things I love with the people I like. My wish to not to be rich, my wish is to be in a position where I can choose the work I enjoy. NO regrets.

bro

you just need to come fish with me
get back with nature

my goal is fill up cooler by cooler of fishes

[hmgROCK]

bro

honesty you are fine
no need to sweat
there are alot of broke people in here
they did a study a while back saying people don't even have $400 in their saving

you are dealing with proverty stricted folks in PH
with 4-5 kids

[DuMa]

Hey Duma…
 
Thank you for sharing. Frankly, these were not the questions or reactions I was fishing for but nonetheless it’s the start of an open dialog.

From reading your reply, I get the impression that your opinion of FIRE is someone who sacrifices a lot of conveniences and comfort in the pursuit of money. Again, forgive me if I misinterpreted your message incorrectly as it is hard to read between the lines. The only way to directly address your comments is of course to expose more of myself. To your point, I don't believe I am losing TIME or had to sacrifice anything of value being on FIRE.

It was in my late 20s is when my income started to take off and as a result of the higher income, I started to “live”. Bought a house, new cars, exotic vacations, furniture and electronics for my home. Most of these purchases were on credit, gambling that my future income will support my wants. In 4-5 years’ time, newer model of my cars came out, the electronics were obsolete, and my clothes were out of style… of course this meant having to buy everything all over again. It was after repeating this process for a second time that I came to realize something very profound, something I am still holding onto today.
 
“Why am I buying things with money I don’t have to impress people who I did not like?”
 
Buying stuff did not make me happy, at least not lasting happiness. Slowly and many times by trial and error, I started to change my habits. I stopped buying things to begin with. I went from a do I want it to a do I need it mindset which lead me to start buying things with cash. As time passed, I stopped partying, I stopped drinking, and I stopped watching TV. I don’t follow anyone on Twitter or Instagram, I don’t have a Facebook account and I don’t know who got kicked off the island on Survivor. As a side effect and almost by accident, I then had more time on my hands. I started to exercise more, went hiking, spending more time with friends and family and helping them with their projects and errands. I learned how to cook and got good at cooking.
 
My frugal lifestyle means I go to funerals in the same sport coat and dress shoes as the last funeral I was at… But to me, I truly think my friends and family is more appreciative of my presence and support and is less concern about the clothes I am wearing.
 
My frugal lifestyle means my vacation are spent with a few good friends hiking part of the Pacific Coast Trail and less about the size of the hotel we stayed at or if the lobby floor was paved with real marble.

My frugal lifestyle means I drive in a 10 year old Camry but it is reliable and paid for and I don't have to worry about the next monthly payment.

One question I ask myself every day and I would like you and everyone reading this to also ponder… “IF they stop paying me tomorrow, will I still be going to work and do my job?” If the answer is NO, which it was for me, then the picture becomes really clear on what I need to do and change. With some luck, I will be able to do the things I love with the people I like. My wish to not to be rich, my wish is to be in a position where I can choose the work I enjoy. NO regrets.

As I said earlier, we all lived in decades.  What you think in the 40s are not the same as you were thinking in the 30s.  At some point in time, you wiser up and get concern about your future.  To survive in the future, we must take a stand today so that we will be protected and be ok with life.  The fire stance is good with the FI part but the RE part is something that not many people agreed upon. 

The word retire means to me is this.  Why are we working today?  While I am at work, I am thinking of the weekend trip that I am going to take.  Now to get there, I need time and that means I do not have to work so all them times I can day dreaming of what I can or want to do next.  A lot of people work for money.  Work brings money so we can use that money to enjoy our livelihood.  Most people can not do both at the same time.  It is either work to make the money but while working, we think of what we want to do if we were not at work.  Get rid of the work and you have the full definition of retirement cuz now I can do what is it that I had on my mind. 

Now to get to the FI part, one must sacrifice.  Starting from the bottom but now you are there right?  You can get there but at what cost is the question and that is for you to answer. 

I tell you what I not wanting to do.  I do not want to be that old guy who got there (FI) and at 65, driving a corvette.  Why wait till then to floss my life when I could of done it when I'm younger?  I'm not gonna tie my stomach and eat ramen just to get to be FI when i'm retire.  One life to live bra.  You can't wait till you get there and figure out that you played your life all wrong.  Everyone has to answer to themselves and everyone will owe it to themselves.  I'm also in my early 40s and never in my life had I had to think about retirement and the future.  I am starting to think about it now and that's a good thing because my life is not just about me  myself and I anymore.  I will get marry someday and I will have children someday.  The evolution of the mind will causes me to take responsibility and with that, I am not looking to be financial independent.  I just want to have enough, care for my family and give them my all.  I then look back and can say that it was the journey that I paved and had enough.   Like what was said in the bible when God created his creations, when he was done, he looked back and said, it was very good.