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.