Suze Orman Hates FIRE


#21

Now that I figured out how to own a G450 I can be in any group I want:sunglasses:


#22

No wonder Suzie Orman hates FIRE:

Gwen Merz, 28, is doing something she thought she’d never have to do again: hunt for a job.

Earlier in her 20s, she set a goal to “retire” from full-time work at age 35, but she later decided to move that date up to 27.

She wasn’t going to “retire” completely, but work flexibly after quitting her job. At that time, she planned to move to Minneapolis to be with her boyfriend. She saved more than $130,000 in a 401(k), about $25,000 in a Roth IRA and kept $20,000 in cash. She also had about $5,000 in a taxable investment account and $10,000 in a health savings account. She also hoped to access a pension she had been entitled to.

Retiring with less 200K? At 27? What’s wrong with these people? :exploding_head:

Didn’t turn out too well:

Now, she’s living with her parents until she finds a new, full-time job, back in the IT world where she started.


#23

Depends on your lifestyle. If you can tolerate being homeless and a beggar, then you need $0 to retire.


#24

A beggar is financially dependent on others. Opposite of FI.


#25

I’m talking about retirement, not FI.


#26

Mr. Money Mustache is largely credited with popularizing the idea of “early retirement” and encouraging others to spend less in order to work less, too. He was able to retire in his 30s, thanks to a cheap lifestyle, index-fund investing and investing in rental real estate.

Index fund and rental RE :slight_smile:

I prefer this version of FIRE


#27

Mustache is a fraud.


#28

Yah his wife works and he supplements his income by pushing investments and ads on his blogs


#29

The wife working part is always infuriating for me. No SAHM would call themselves “retired” if their husbands hold a 9-to-5 desk jobs. How dare you pimps call yourself retired while your wife is busting her ass in a J O B?

Mustache is basically selling himself for something he’s clearly not, at the same time milking millions off his celebrity status. Really disgusting.


#30

Another interesting quote from the article,

The Owens don’t know what their futures will hold and whether $600,000 will be enough to support it. For one thing, they want to have children, and they’re not completely sure how much that will cost.

So to make a little more income, they’ve started two businesses: one to coach others on their finances and another selling a food product for the ketogenic diet.

Now you know the typical profile of financial advisors advising you :slight_smile:


#31

The only person seeking help from financial advisors on this forum is @sfdragonboy.


#32

They invested in bitcoins and got the coins stolen.

Logical next step: become a financial advisor. :smile:


#33

Come on, there are certainly more worse things that I could be doing. GATHERING information/insights/advice and then choosing the path for yourself is not a bad thing…


#34

Yeah… Because the husband would divorce her. But would Mustache’s wife divorce him, or is she glad not to be a SAHM?


#35

Consider that done.

Mr Money Mustache, AKA Pete Adeney, is the standard-bearer for Fire. A 44-year-old Canadian living in Colorado, he worked for 10 years before packing it all in just after he turned 30. He describes himself as a “mild-mannered retired computer engineer”. “I realised in my mid-20s that I was perfectly content to ride my bike to work and cook my own dinner,” he says . “So I had no interest in spending the relatively high salary that even an average income earner, let alone an engineer, makes here in the US. But I knew that money was a useful thing, so I wanted to put it to good use. I decided that buying my own freedom was probably the best use of that money.”

He divided his life into two phases – the working, earning, saving part and the living, creating, parenting part. “As a young engineer, I remember seeing what a challenge my older colleagues faced with having to divide their attention between their careers and their kids,” he says. “It seemed like they were not able to give their full efforts to either endeavour. So, I decided to focus purely on my work for that period of my life, and then focus on being a dad for the 18 years thereafter. I’m currently on year 13 of the second project.” He and his wife divorced recently, but he says they are “still very close co-parents”.


#36

Me and my friend brainstormed a new term: FINeR

Financial Independent Never Retired

as in “Live a finer life”.

FIRE is so 2008.


#37

That term fully encapsulates the fakeness, arrogance, and misplaced feelings of grandiosity that I was talking about… :rofl:


#38

Admit it, you are the one who drove out @tomato. :smile:


#39

You can ask him if that were the case when he comes back… :rofl:


#40

I am afraid he’s not coming back… :cry: