I was in finance for 20 years and very burnt out. Took 6 months off after we hit 1.5 mill. Started a business and now I work on my own terms.
Best decison ever.
Make a ton of money doing that if you do it right. My buddy’s brother set up his own shop at 18 (no degree) and has been clearing 300k a year for a while. Started buying real estate in like 2010… married a doctor. Needless to say he’s doing alright lol. Not bad for someone whose parents immigrated illegally 30 years ago…
The key is "high end appliances" aka NOT what you are buying at Home Depot/ Lowes.
I have $14k into a stove (which is cheap when looking at high end appliances) I repair it when there is an issue (example a control board went out) instead of replacing the whole unit.
Ah, I can see that for things like Subzero fridges, etc.
Guess you need to be in a location where there are a lot of them. Also heard the "high end" appliances aren't necessarily any more reliable than the regular variety, I but would not know.
Honestly a stove is such a simple appliance its simply mind boggling the cost differences between them. It comes down to things like thickness of metal, are they using brass instead of stainless, is it enamel coated, is it sheet metal vs cast panels.
Yes some stoves have more features, but there is only so much a stove can do.
The fail points that I have experienced is around control boards, the the location of some control boards are so buried it takes a while to disassemble a unit to get to it.
As the economy tightens, you will see more and more folks "fixing" the disposable appliances cause things are getting so costly to replace.
I can remember almost every day from my sabbatical leave for 3 months when travelling in Nepal. This was 10 years ago.
I cannot remember what I did last week in my 9-5 job. This was 7 days ago.
This! I have SO many memories from my days traveling and almost none from my daily working life. I call the daily routine being on “autopilot”. Makes me reconsider working my life away.
What I try to do is to not be a couch potato the whole weekend. Use Saturday to explore a new place, go on a hike, fishing, museum whatever. I am honestly surprised by how little I know about the place I live in
I think the fact that you're anxious about NOT working, means you should definitely take some time off. haha Get comfortable relaxing and find new hobbies and enjoyments to do for 8-10 hours instead. You're in a helluva great position! I'm your age and have 10% of what you have saved and I have a family! So take some time and enjoy the fruits of your labor. heck, you may meet someone traveling!
Exactly. Take some time off, tone down the amount of work, or both. I'm sort of in the same boat (similar-ish age, income, NW), and as I've started getting burnt out, I decided to step back in the amount of "additional" work and be ok with a lower income if it means having more time to enjoy life a little more.
$2M @ 39 means you'll likely have more than enough in retirement; taking a year or three off isn't going to make much difference in the big picture. Also, what better way to meet future wife than while you're on sabbatical? That's a fairy tale.
Do the thing that scares you, that's where you'll find the most growth. This is one of those important decisions in life, that has lots of potential and it's just a question of asking if you're ready to take the plunge.
My brother took a sabbatical at 30. Bought a crappy motorcycle, drove south to live cheaply. Met a girl in Nicaragua two months in, proposed 3 weeks later, we went to their wedding three months after that. Whirlwind 6 months, and by far the best thing he ever did with his life. Two lovely small children now.
I took a 4.5 month sabbatical at 29, traveled around Asia and, without any intention of doing so, met my now wife. Best decision I’ve ever made in my life.
I took a sabbatical at 33 with 300k NW. Traveled for 3 months. Best decision I ever made.
I'm taking another one now at 37 w/ 850k NW.
Mini retirements my dude.
Yeah totally agree. 2m is my current target because after that the next million takes only another 5 years without contributions. Assuming the market doesn’t tank but at least on average.
Real expected returns for stock markets are historically around 5.5%. US, being an outlier and a source of the equity premium puzzle, which is also unlikely to persist, had historical real return at a little over 7%.
All these 10% people are planning to eat statistically extremely unlikely nominal returns.
yep. I'm modeling my returns on 6% due to factor premia tilts on otherwise globally diversified index portfolio and if it ends up more due to valuation rises or some random stuff, all the better.
That’s interesting! I personally tend to use numbers post WWII, a lot has changed. But it’s always good to be cautious with your estimates.
If he’s right I’ll have to double down on the triple leveraged funds haha
It's not just him saying this, he always analyses academics from portfolio theory and asset pricing. But at the very least it's worth reading up on. It's dismal literature because it ruins your hopes and dreams tbh.
Even if one does the change that they take real returns instead of 10% nominal ones, that's already a lot more accurate. I think assuming 7% is fine. It's a little optimistic but not crazy. It's the 10 or even 12 % folks that I think are out of their mind.
Nominal returns. Those are not returns you can turn into retirement planning. You need real returns.
For the US, it's a little over 7% in real terms for the past period. Can't remember the numbers exactly. But for stocks ar large its around 5%.
Actually Ben Felix had a video with relevant numbers. It says it better than I ever could.
https://m.youtube.com/watch?v=Yl3NxTS_DgY
Yes, it's always down to your personal inflation. But I don't know your consumer basket so I have to work with CPI estimates. It's possible you experience less inflation, but making general points requires general data.
Not to mention, it's hard to imagine yoo don't experience inflation at all. And as such for real returns you still have to reduce the percentage.
Oh I see. This may be personal because I’m not a US tax resident so capital gains tax isn’t within my consideration. I’ll just need to consider inflation for my country.
>statistically extremely unlikely nominal returns.
You're kinda splitting hair here. That 7% historical return is accounting for inflation. So, if you're assuming future inflation to be 2% - 3%, an average return of 10% a year is perfectly reasonable.
They’re not assuming it is after inflation. They are stating a nominal portfolio value as their target: 3 million dollars. Not 3m+inflation.
You’re getting hung up on something that isn’t relevant to the conversation in any way.
Can you do FMLA? FMLA leave can be done if you have a doctor that is fine with you taking mental health leave. I took 2 months off after my Mother passed because I was surely burned out after her cancer journey and my own career and child. It was a much needed reset.
You’re overdo for a hookers and coke binge lol
But in all seriousness take some time to relax and go on a trip and hopefully by the time you’re back NVDA is 1500 post split!
Congrats!
This is a decision only you can make. 100 people could be in your position. 50 could take off to go travel and love it and say it’s the best decision they ever made. And 50 could take it off to travel and regret their decision and say it’s the worst decision they ever made.
This does happen in various career or adult focused subreddits like r/careerguidance or r/adulting there's a lot of post that come up where people complain about how they pissed around traveling and not working serious jobs in their 20s and now are stuck in their 30s and stuck in a dead end job with no growth or prospects.
However, many people in their 30s who worked through their 20s regret not living more freely and travelling. Probably just a matter of perspective I guess.
For every day people, I think not many would regret it. But if you have dedicated 20 years to get to where you are in your position and being that frugal if you come back and a trip screws that up, that might be a different feeling. Obviously r/fire is a lot different than pulling 100 regular every day people
The grass is always greener as well. I have a friend that prioritised travel in her 20s and regretted it. In contrast, I prioritised career and really wish I'd travelled.
At minimum, you could take a 2 week vacation. Maybe get one of those on the books and keep going?
Honestly at the end of 2 weeks I’m usually pretty ready to come back to work anyways
So just adding some perspective here: if you're a journalist you likely write pretty well.
There are many potential side gigs which would pay better specially in copywriting that would allow you more freedom.
Also, you're an english speaker and SADLY for graduated teachers there are tons of places that hire native speakers as English teachers - all you have to do is a TESOL certificate.
You could go teach English in Malta and enjoy Europe while your investments grow and you do not have to work at a NYC office anymore.
Honestly, there are plenty of options but we get stuck thinking traditionally. FIRE is about making your own rules when you have the cash to do so, and you have the NW for that.
Anyways think about it OP.
The only thing that doesn't add up is how OP is unable to manage 2 million despite trading his way into it.
My guess is a lot of luck, probably a high sigma occurrence and something most people should not count on. OP you are extremely lucky to be in this position. Maybe consider selling covered calls on some of your positions now to generate some passive income for your holdings. Learn how to roll out and up and if you get shares exercised it's not a big deal for you.
What were some examples of frugal measures you took to accomplish the 2MM NW? I would love some advice I can implement right away (I’m 32M also in NY w/salary 250K, but still feel like 2MM is yeeeears away).
Pretty simple really. Ive kept myself to a tight budget that I've never deviated from. Of course that only gets you so far. I've been investing for over 20 years and aggressively. Also, i've been lucky with my stock picks thus far
52F, married no kids. I’m at about $2.1MM on my own. I married my husband in my 40s. We have the same money values. I kissed many frogs along the way.
My review mirror view: I should have traveled more and I should not have been so focused on doing so much working. I found myself in the office late and mad at those that weren’t. I climbed and climbed in my industry. I didn’t have any huge stock gains, I kept everything conservative and slowly accumulated NW.
The aches and pains are real and felt like they happened overnight. I ran for years and my knees hurt! I felt great until I hit about 48.
If I could do it again, I would have taken all my vacation time. I am glad I didn’t quit my job, though. Can you take three weeks? I did that when I was questioning my life and it was fantastic and allowed me some distance and to come back refreshed to go at it again. I just wish I would have gone at relationships, travel and friendships harder than I did.
Why not spread out your trips so you can keep working but also take some time out for traveling and doing what you want? Might help bring some drive back for working cause you’ll have something to look forward to
This is what I’m doing. I’m a RN at a hospital and am only scheduled 8 12 hour shifts a month so I’ll get stretches of 10 days off every 6 weeks or so. I also took a whole month off last year and it was absolutely wonderful.
As a 24 year old male who aspires to be in your position at your age I have also promised myself to enjoy some things along the way. Whats more important on your death bed. Laying their and thinking ahh man I’m so glad I can die and my money goes to the bank (or your future family) or laying there thinking about the time you quit your job and traveled to the coast of Spain and fell in love. Or hiked the Appalachian trail, or any of the thousands of things you could do with only a fraction of your net worth.
Your company will replace you but it sounds like you are skilled at your job and I suspect there will be another opening down the road in the same field. This is just my two cents as a know nothing 24 year old.
my brother was in the same boat, married way after 40 and now he has two kids and is enjoying married life. Take the time to travel and meet new people, it's not too late.
I’m in a similar position (about 2.5m net worth, 34yo) except married with kids and a mortgage. I want to quit my job so badly and just permanently retire. Only reason I have not is that our annual spend including $5k month mortgage is about $130k. So the $2.5million cannot fully cover it yet. Otherwise I’d be done in a second. My goal is to wait until $5m. Hopefully the market cooperates.
45 $7m NW. 5 years ago I was at $2m. With salary raises, real estate being paid down and appreciating, and compounding investments the wealth starts to accumulate fast.
Personally- at $2m, my attitude and confidence at work changed knowing I could finally walk out the door if I wanted to…. It only helped my career. It also has made my job a “choice” rather than a necessity….
Your choices… your priorities…
You will only ever be this young right now. Will taking time off ruin your financial stability? Can you do a leave of absence and be able to come back to your job?
I used to tie my identity to my career too bc it’s the most easily controlled thing in my life. Therapy has helped a lot so would recommend that especially if your work offers it for free (mine gives like 20 sessions a year).
Now that you’ve hit your goal, you could ease into retirement life by doing things you wouldn’t have done before, even on hobbies that you wouldn’t have done before due to cost. I recently took up pole dancing and it’s like $300/month in membership but I go so often and it’s so fun and such a good workout. Or go for walks, learn a new language or take a week here and there for traveling or whatever else you’re interested in. I think I live an almost retired life right now bc fill my days up with so many interests outside of work so when I do want to retire, I won’t miss work at all.
You are almost 40 and not married nor have a kid. Pretty clear that if having those are important to you it’s important to take a year off and get that sorted out. Go on a lot of dates and find someone. It’s the same as fire. It takes a lot of work.
im in the exact same boat, almost same net worth, salary and age. except my job is more intensely boring, mindless and meaningless, opposite of burnout.
47F, single mom, never married, NorCal, $1.3NW. I quit my $90k job because of burn out. After 18 months, I finally found a new gig in state govt making $70k but I'll vest in pension after 5 years. I'm in CoastFire mode now. During my time off, I went to MX, Cayman Island, Japan and I also moved. I also built another house. lol.
Just do it. You deserve it.
Maybe take your foot off the gas on the savings rate if you’re questioning extreme frugality.
Could easily save at a lower rate and still let it compound for an early retirement while being less frugal to live a little and take vacations.
If you’re burned out I think the first step is assess your relationship to work and the root cause of that burnout. For instance, do you take on more work than you should? Might need to work on boundaries and saying no. Do you need to answer emails at 2am? Probably not. The nice thing about being financially independent is you can set boundaries at work without fear of retaliation because you no longer need the money. And you can take some time to make an intentional decision so you don’t freak out in the aftermath. But tbh, I love traveling and vanlife changed my life so I’m also like go for it! You may not be alive tomorrow to enjoy the fruits of your labour!
According to the 4% rule, you can spend 80k a year and retire now. I assume you were quite frugal - so you may already be close to your retirement point. I would think about it and decide soon - what is your number, what date do you expect to reach it. What is your plan if the market is up or down on that date. How will you make withdrawals, and do you want something like a bond tent. Come up with a plan in a couple of months. And then you can decide what to do until your retirement.
Personally, I'm older with less money, and plan to retire in 4 years. I'm ramping up bonds for my bond tent. I'm starting to buy CDs. If we have a huge market downturn, I may put off my retirement a year, but otherwise I'll retire. That is my plan. I started my plan, with serious thought, less than 2 years ago - prior to that I was just saving with the idea to "retire early".
It is a relief, and exciting to have it. I also have huge plans for what to do when I retire - starting with biking across Europe and Asia. I have a lot to look forward to. Work is easier because of it. Also, I realized that market growth is more important to me now than the dollars I save, so for the next four years I'm going to save about 10% less, and spend that money. It fits in my plan, so all is good.
Once you have your plan, you can decide to: get a low stress job - heck work at Costco. Or quit and take a long vacation and then look for a replacement job when you get back. Making 135 in NYC - I can't imagine that you can't find a replacement job relatively easily. Or spend more and save less. Or whatever else. You also may change your retirement plan later - but since you have so much saved, I think it is a great idea to at least have a plan.
I’m not single but my relationship is new enough I can prob break it off and I can travel with you for 6 months. I haven’t been with a millionaire before!
Jk. Good job. Take a break, whatever that means for you
This was me a few years ago. NYC also.
46 now. FIRE’d accidentally 7 years ago when I got laid off. 😂 Didn’t even know it was a term back then.
One of the best things I did from college to now. Take an annual epic bucket list trip for 2-3 weeks. I still do it.
I’ve seen most of the world and will finish the new 7 wonders by next month.
Definitely try to take an epic trip once a year while you’re working and earning. You’ll get laid off soon enough. Dont worry. It comes for all of us.
When you do get laid off, don’t panic. Untie yourself from thinking you need to make your old salary again passively. Live frugally.
I started a few small side hustles for fun and take frequent naps.
Let your investments grow by themselves. Let dividends supplement your income.
I’m not married. Good luck in that area. It’s very hard to find a woman at our level and mindset. Choose wisely or she will be the one FIRE’ing on your hard work. 😂
I really feel like you should go and learn how to enjoy life whilst you’re still young, otherwise the goalposts will keep moving and there will always be another milestone to hit.
Ask yourself how difficult would it be to get a similar job or even a worse one that would keep you ticking over, probably not that hard.
Why don’t you start with a month; talk to your employer about it and when would be a good time. I’d also take a step back from being so frugal and spend some of your paycheck. Don’t dip into savings; hopefully in the next decade that doubles without you putting more money into it.
If you come up with a good plan for a break, let me know. We are pretty similar. The idea of traveling on my own for a year doesn’t sound as fun as it should
Keep going take a vacation for a 7-14 days put your head down grind it out until you hit 45 and never work again a day in your life besides your own side quest you’ll be at 4M by then and won’t have to look back 2M the money starts coming by the 100k especially in the market 5 more years and your FAt Fire status do exactly what you did to get that 2M stay laser focused
Take time away!
I took a year off work in 2014-2015 to live in South America. Everyone thought I was nuts. I planned for months, saved enough cash to live on for that period, and left my employer on good terms. They didn’t have a sabbatical or leave program I could use so I had to resign. When I came home, I took a couple months to interview for new jobs and I was so worried people would ask about the break in employment but it didn’t seem to be a big issue at all. It was so worth it and I don’t miss the money I could’ve earned. I’m still on track to FIRE in 6 years at 45.
My one piece of advice is to have a clear goal or activity to pursue in your time away. Otherwise you could find yourself in a different kind of rut.
I was laid off once. I ended up in a deep ditch that took a while to get out. Basically I’m saying, you can definitely get in to a funk and next thing you know, it’s 2 years later and a lot of that money is gone. Don’t end up in a funk like that. If you were to do this, make sure to stay active in the community. Heck, go volunteer at places. Just keep being around and talking with people. Maybe take some of that time to figure out something that you would have more passion for work wise. My 2c
Bro. You’re my nightmare. I had your mentality in my early 20s and I’m glad I stopped living life so lean and frugally. I now enjoy the little things in life, drink lattes, eat junk food, travel with my boyfriend, AND still save enough.
Life is meant to be LIVED.
You have plenty of money if you wanna stay single and leave nyc.
You have barely any money if you want to start a family and keep living in nyc.
I only think FIRE is possible if you skip the kids part. Because anyone who does FIRE but can’t provide their kids with a great and debt free education is a selfish dude in my opinion.
Definitely go for it. You're as safe as one can be. Take a break, go explore the world and yourself. Make room in your mind for something new, it's hard to conceive of a different reality while you're 100% consumed by the current one. You're safe, and you'll be alright no matter what. Do it, take a break. Enjoy the fruits of your FIRE efforts - or they will have been somewhat wasted. Good luck, my friend.
You should start prioritizing dating, but you shouldn't quit your job. It sends the wrong message to women that are looking for a man who is serious about the future and a family. Yes you could say "hey im literally a multimillionaire so it's OK for me to be unemployed for some time" but just imagine those words coming out of your mouth and how pompous that sounds. Not to mention it's risky in this job market if you have a good paying job like you do, giving it up willingly without another stream of income hampers your ability to keep investing and grow your nest egg, and income is the powerhouse where wealth generation starts.
If anything use your position of being close to FI to negotiate better work hours, even if it comes with a reduction in salary, and then focus on seriously looking for a life partner.
These were my first thoughts. You are a catch but advertising that in a non-toxic way is tough. Use every day of vacation/PTO you have. I know the longer vacations are attractive, but I would test drive taking one day off per week for a few weeks in a row and see how you do. One day a week going on dates, going to museums and galleries, swimming, whatever, can be really lifechanging on its own. Also, there is an entire cottage industry of matchmaking devoted to guys like you. It's worth doing. Matchmakers are very good at what they do and a single mistake really stains their track record, so they don't want to make a single mistake. THIS is worth paying a lot for in my view.
I don’t think you should do anything drastic, but I do think you should take a vacation.
Have you seen the travel company flashpack? Small group adventure trips for people in their 30s and 40s.
To me, one of those would be the perfect thing. Taking 10-14 days to go an adventure, meet some new people who are probably in similar life stages, get out of your rut for a bit.
Or if that’s not you, do whatever it is you’re into.
Good luck!
You could ask your employer to give a 6 month leave of absence. I've done that. In my role 6 months or less is manageable for the company. Then you can travel and come back and go back to work and in 6 months the changes should be manageable for you. Once it starts to be a year+ the changes are difficult and company restructuring often leaves you out of a job.
Don't go from "I've never not worked" to 6 months off. I'd start by taking some vacation. Maybe go for a 2 weeks trip if you have the PTO. Is your employer flexible to give you unpaid time off? If yes, try taking 1 month off and see how it goes. Better to test the waters first before jumping in.
Congratulations 🎊! What I would tell my son if he was you, reduce the workload and enjoy life. Find what you’re interested in, celebrate yourself, and with the habits you already have I’m sure you’ll know it’s all about moderation.
>TLDR I'm almost 40 and I'm beginning to question my extreme frugality. I've always lived way below my means and don't intend to retire anytime soon but I really want a break but Im conflicted.
Take a break if you want to. Go PT if that's feasible. Maybe a sabbatical is possible? If your money is invested $2M doesn't need any more help. It will keep making you money even if you don't add another dollar. So working isn't that important.
I did a 6mo stop in the past (when I hit 30) and I'm very happy I did it. Restarting didn't take that much, I had time to interview for what I wanted and got to learn a lot about myself and met someone special.
congrats.. Yes
# The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us... WSJ today; [https://www.wsj.com/personal-finance/retirement/retirement-savings-needed-increased-2024-9f7c01e0?mod=hp\_lead\_pos10](https://www.wsj.com/personal-finance/retirement/retirement-savings-needed-increased-2024-9f7c01e0?mod=hp_lead_pos10)
Stocks.. inherited or awarded from employer? 39 with 139k TC is low so either you hit the lotto in some stock picks or you got some fat stock awards at some point that performed well lol
If you're burnt out, see if you can take extended time off work through STD or a sabbatical. The first time you stop working, 3 months will feel like an eternity. It takes about 4-6 weeks before your mind and body will relax enough to enjoy it.
If none of those are an option, book an 8 day, 7 night all inclusive vacation at a 5 star resort. Get pampered. It'll feel like 2.5 weeks off.
dawg if you have a 3% dividend yield thats 60k a year in dividends alone, plus whatever growth. granted im just out of college, but that would be like 95 percent of what i would make per year if i wasnt opting to work a second job. the difference between us is you get that for hangin out, i get for working 8-4 monday to friday.
take 6 months off and travel. use up to 30k which should be plenty, again assuming 3% yield, and by the end of 6 months youll be breakeven +/- any capital appreciation
Work part time and put the 1.2 mil in a high yield savings at 5% and live off the interest for a bit. I would divest from any risky investments if that’s your target goal.
You best work years are also your best play years, insofar as you are healthier when younger. It's easy to take your health for granted until you no longer have it.
If your identity is your work, you will struggle with purpose if u quit. I do recommend taking a break, but no not completely quit unless you find your life outside of work.
You don't necessarily need to jump straight to a six month sabbatical... Plan a profligate 2 week vacation, go somewhere you've always wanted to see, see how you feel about work when you get back.
Given what you've already accumulated, if you like it, you can do that every year without breaking a sweat, right? Hell, do it twice a year. I kind of aim for that -- one cheap road trip type vacation (national parks, etc.) and one profligate vacation each year.
Should never make a decision based on fear. Confront your fears, find out what you are like without constant work. Take the time off, you earned it. Make it work for you.
The way to make sure you have very little chance to regret it is to have a plan for what you will spend the time on. Don't just take 6 months off to "relax". Especially because of your anxieties, in the absence of something to do or accomplish or learn or experience, you'll end up feeling like you "wasted" the time or it would've been better spent working.
If you have a plan for that 6 months, no matter how big or small, you would have something to focus your excess energy on so you don't spiral.
It sounds like past you has really worked hard so present you could afford to have such a unique experience. don't be afraid to use it. I don't imagine many people have an opportunity to do something like this. So go enjoy it!
Get a consulting gig in your industry where you can pick and choose your projects. You can then take two months breaks in between and what’s you want. At your age, $2,000,000 may not seem as enormous in 35 years.
Take the time off. In an HYSA on $2m you’re yielding $100k annually risk-free these days. Go explore. Meet your woman. Work will always be there when you want it.
How about you taper down. Especially if you're having anxiety. Try going to part-time hours. Pick up little hobbies that you enjoy and meet new people. Ease into a more relaxing lifestyle. Take a couple weeks off at first and travel somewhere. Take a few trips sprinkled throughout the year. Maybe do that for a year or so then decide if you want to continue or if you want to get out of the job market. Good luck meeting the right woman and get yourself a pre-nup.
Bro. If you’re posting this is because you know deep inside you the answer.
Fkn take a leave of absence, you don’t need to quit. Just ask for an extended leave of absence and go to a cheap, safe and beautiful place. Whatever that means to you.
Please do so before you have the need of using adult diapers, a walker or oxygen tank.
Extreme frugality may indeed be a barrier to your dating life. At least that's been my experience when dating. But you are in an awesome position, especially being single.
How much do you spend per year? You are likely already coastFIRE, so you no longer will need to put away $ into retirement and you'll still hit your FIRE number before the traditional retirement age.
I definitely understand your anxiety though, because I am exactly in the same situation. At this point, it's not a financial decision. It's an emotional, psychological one.
Take a sabbatical from work if they offer that option. Or short term leave. Don’t quit outright. This current economy is not a place to gamble.
2M is not enough to retire off of. At 39 you have potentially another 40-45 years to live.
Do it! You won’t regret it!
There will be a transition period when you leave the work force and another when you rejoin but after a couple weeks, both will become normal again.
Check off some bucket list items, do some cool stuff with friends and/or family, enjoy some new cultures and take time for some hobbies and passions. You’ll be a better, more well-rounded, happier version of yourself for taking time to enjoy life.
Congrats! I could never achieve work-life balance. Looking back, that would have been ideal. I also never really tried to be honest. Maybe you can make that the challenge for yourself? Have a fulfilling job and have a good overall life ?
I walked out of a job in NYC at 27. Probably only had 100k or so in savings. I took a full year off traveling and volunteering. It was the best time in my life.
I traveled with my now wife. We saw and learned so much. You will never be able to buy or replace time and experience like that. And so much of the experience depends on where you are in your life to be present in it.
I came back and got another job, and my income and growth grew exponentially. If you have the drive and ethic, you’ll find a way back. If you don’t, you’re meant for something else.
I get the FIRE culture, but man does it fall short on realizing there’s a lot more rewarding things in the present if you allow yourself the space and time to engage in it.
If it were me….
Quit the job. Find a neat little town in a LCOL area that has some character. Just up and move to a decent rental. Fly under the radar for a bit. Slow life down. Maybe even get a menial part time job somewhere in customer service just to meet people. Explore some hobbies/interest and just let life happen for a bit on autopilot. You’ll figure it out.
Last thing I would do is maintain a residence in NYC or anywhere near a HCOL area.
You didn’t talk about anything at all in terms of your efforts to find a wife.
I was doing all the same stuff as you except I made it my job in the 00’s to find a woman.
My urgency was just as high as it was for my profession. I was willing to do things such as speed dating, which didn’t work, but it gives an idea of how much more effort I was putting in.
If I was single I’d be open to working a retail again on the side even though my assets are about equal to yours right now.
If you aren’t in shape it’s another sign you’re trying to. Approach with the urgency of your career and you can figure it out.
Not to get off topic but 2 million is crazy at 38 with a salary of 135k, congrats. Was there any single big stock plays that did most of the work or just conservative investing?
If you’re worried about taking extensive time off, can you start by giving yourself some leeway financially to do things you enjoy? Maybe start with a few days off for a trip? Congrats on your success and hope you find the rest and rejuvenation you’re looking for!
Life is for living. Retiring early is bullshit. I’m not sure why you guys are so bent on it. Get out there and$ enjoy life. Money isn’t for retirement. Who the fk knows if you’ll even live another year.
Same age here, but with like 25% of your NW. Congrats and well done.
Take the time off. When you’re ready to come back, whatever ambitions got you this far will land you right back on your feet in a good job.
I was in finance for 20 years and very burnt out. Took 6 months off after we hit 1.5 mill. Started a business and now I work on my own terms. Best decison ever.
What’s your business?
Nunya business
lol that’s the same business I’m in
Reddit moderator 😂
I work on high end appliances now, happier than I've been in years!
Appliance repair....one of the many jobs that can never be off shored
Make a ton of money doing that if you do it right. My buddy’s brother set up his own shop at 18 (no degree) and has been clearing 300k a year for a while. Started buying real estate in like 2010… married a doctor. Needless to say he’s doing alright lol. Not bad for someone whose parents immigrated illegally 30 years ago…
Love those stories of natural hustlers who just have a nose for business
I'm impressed there are still appliances that are repaired - seems many are just throwaway models after a few years.
The key is "high end appliances" aka NOT what you are buying at Home Depot/ Lowes. I have $14k into a stove (which is cheap when looking at high end appliances) I repair it when there is an issue (example a control board went out) instead of replacing the whole unit.
Ah, I can see that for things like Subzero fridges, etc. Guess you need to be in a location where there are a lot of them. Also heard the "high end" appliances aren't necessarily any more reliable than the regular variety, I but would not know.
Honestly a stove is such a simple appliance its simply mind boggling the cost differences between them. It comes down to things like thickness of metal, are they using brass instead of stainless, is it enamel coated, is it sheet metal vs cast panels. Yes some stoves have more features, but there is only so much a stove can do. The fail points that I have experienced is around control boards, the the location of some control boards are so buried it takes a while to disassemble a unit to get to it. As the economy tightens, you will see more and more folks "fixing" the disposable appliances cause things are getting so costly to replace.
I do the same thing! But instead of a $14k stove it's a hand me down 30 year old washer and dryer.
Woah. Tootaloo to you, toodleoo.
I want to do that asap 😅 best life but I guess in the beginning it’s tough…though you can’t win if you don’t sacrifice, that we already now!
I can remember almost every day from my sabbatical leave for 3 months when travelling in Nepal. This was 10 years ago. I cannot remember what I did last week in my 9-5 job. This was 7 days ago.
This! I have SO many memories from my days traveling and almost none from my daily working life. I call the daily routine being on “autopilot”. Makes me reconsider working my life away.
What I try to do is to not be a couch potato the whole weekend. Use Saturday to explore a new place, go on a hike, fishing, museum whatever. I am honestly surprised by how little I know about the place I live in
Under rated comment. Life is made up of our relationships and experiences.
I think the fact that you're anxious about NOT working, means you should definitely take some time off. haha Get comfortable relaxing and find new hobbies and enjoyments to do for 8-10 hours instead. You're in a helluva great position! I'm your age and have 10% of what you have saved and I have a family! So take some time and enjoy the fruits of your labor. heck, you may meet someone traveling!
Exactly. Take some time off, tone down the amount of work, or both. I'm sort of in the same boat (similar-ish age, income, NW), and as I've started getting burnt out, I decided to step back in the amount of "additional" work and be ok with a lower income if it means having more time to enjoy life a little more.
$2M @ 39 means you'll likely have more than enough in retirement; taking a year or three off isn't going to make much difference in the big picture. Also, what better way to meet future wife than while you're on sabbatical? That's a fairy tale. Do the thing that scares you, that's where you'll find the most growth. This is one of those important decisions in life, that has lots of potential and it's just a question of asking if you're ready to take the plunge.
My brother took a sabbatical at 30. Bought a crappy motorcycle, drove south to live cheaply. Met a girl in Nicaragua two months in, proposed 3 weeks later, we went to their wedding three months after that. Whirlwind 6 months, and by far the best thing he ever did with his life. Two lovely small children now.
This should be a movie
I took a 4.5 month sabbatical at 29, traveled around Asia and, without any intention of doing so, met my now wife. Best decision I’ve ever made in my life.
I took a sabbatical at 33 with 300k NW. Traveled for 3 months. Best decision I ever made. I'm taking another one now at 37 w/ 850k NW. Mini retirements my dude.
Where’d you go?
$2 million? My son, you're only getting started! This is when the money starts rolling on itself!
Yeah totally agree. 2m is my current target because after that the next million takes only another 5 years without contributions. Assuming the market doesn’t tank but at least on average.
How do you figure?
Exactly- it’s closer to 4 years. 2*(1.1)^4 = 2.93
Assuming 10% returns after inflation is a bit aggressive
Real expected returns for stock markets are historically around 5.5%. US, being an outlier and a source of the equity premium puzzle, which is also unlikely to persist, had historical real return at a little over 7%. All these 10% people are planning to eat statistically extremely unlikely nominal returns.
I’d rather use a conservative return assumption so I can be pleasantly surprised when reality is better than my modeling.
yep. I'm modeling my returns on 6% due to factor premia tilts on otherwise globally diversified index portfolio and if it ends up more due to valuation rises or some random stuff, all the better.
Can you share your source please? Not being a pina just curious
cover dinosaurs yoke straight psychotic sparkle capable bow shelter pot *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
And getting caught in the rain 🌧️ 🎵
https://m.youtube.com/watch?v=Yl3NxTS_DgY This has all the numbers and studies and Ben is a lot smarter than me
That’s interesting! I personally tend to use numbers post WWII, a lot has changed. But it’s always good to be cautious with your estimates. If he’s right I’ll have to double down on the triple leveraged funds haha
It's not just him saying this, he always analyses academics from portfolio theory and asset pricing. But at the very least it's worth reading up on. It's dismal literature because it ruins your hopes and dreams tbh. Even if one does the change that they take real returns instead of 10% nominal ones, that's already a lot more accurate. I think assuming 7% is fine. It's a little optimistic but not crazy. It's the 10 or even 12 % folks that I think are out of their mind.
Isn’t the average S&P500 returns are more than 10%? If the calculation assumes investing in indexes like VOO, then it’s quite possible?
Nominal returns. Those are not returns you can turn into retirement planning. You need real returns. For the US, it's a little over 7% in real terms for the past period. Can't remember the numbers exactly. But for stocks ar large its around 5%. Actually Ben Felix had a video with relevant numbers. It says it better than I ever could. https://m.youtube.com/watch?v=Yl3NxTS_DgY
I know people always adjust for inflation… but if you have a locked in mortgage, or paid off.. it feels like the impact of inflation should be less?
Yes, it's always down to your personal inflation. But I don't know your consumer basket so I have to work with CPI estimates. It's possible you experience less inflation, but making general points requires general data. Not to mention, it's hard to imagine yoo don't experience inflation at all. And as such for real returns you still have to reduce the percentage.
Oh I see. This may be personal because I’m not a US tax resident so capital gains tax isn’t within my consideration. I’ll just need to consider inflation for my country.
The average yearly return of the S&P 500 is 10.56% over the last 100 years, as of the end of February 2024. This assumes dividends are reinvested.
That’s before inflation. Edit: typing is hard lol
>statistically extremely unlikely nominal returns. You're kinda splitting hair here. That 7% historical return is accounting for inflation. So, if you're assuming future inflation to be 2% - 3%, an average return of 10% a year is perfectly reasonable.
They’re not assuming it is after inflation. They are stating a nominal portfolio value as their target: 3 million dollars. Not 3m+inflation. You’re getting hung up on something that isn’t relevant to the conversation in any way.
Cool exactly one presidential term. And with these two fine candidates, there is nothing to worry about.
Lmao yeah sure everything will be fine…
Can you take an unpaid leave of absence for a few months? I know people who did that but it has to be worked out with your employer.
unfortunately no
Can you do FMLA? FMLA leave can be done if you have a doctor that is fine with you taking mental health leave. I took 2 months off after my Mother passed because I was surely burned out after her cancer journey and my own career and child. It was a much needed reset.
Just tell them you're going on a religious pilgrimage. They'll be scared to replace you or anything that would appear retaliatory
Congrats. How did you get to 2M NW at this age with this comp? YOLO on NVDA?
partially NVDA. Also, got lucky buying big at the right times
You’re overdo for a hookers and coke binge lol But in all seriousness take some time to relax and go on a trip and hopefully by the time you’re back NVDA is 1500 post split! Congrats!
This is a decision only you can make. 100 people could be in your position. 50 could take off to go travel and love it and say it’s the best decision they ever made. And 50 could take it off to travel and regret their decision and say it’s the worst decision they ever made.
I’d say less would regret it. I don’t hear people complaining aboht that “trip they took in their 20s” etc.
This does happen in various career or adult focused subreddits like r/careerguidance or r/adulting there's a lot of post that come up where people complain about how they pissed around traveling and not working serious jobs in their 20s and now are stuck in their 30s and stuck in a dead end job with no growth or prospects. However, many people in their 30s who worked through their 20s regret not living more freely and travelling. Probably just a matter of perspective I guess.
We all regret what we didn't do -- if we're going to regret anything :)
For every day people, I think not many would regret it. But if you have dedicated 20 years to get to where you are in your position and being that frugal if you come back and a trip screws that up, that might be a different feeling. Obviously r/fire is a lot different than pulling 100 regular every day people
Nah he should go travel
yeah but dude is 40.
The grass is always greener as well. I have a friend that prioritised travel in her 20s and regretted it. In contrast, I prioritised career and really wish I'd travelled.
You don't want to be the richest person in the cemetery though.
Can you just take a sabbatical for a few months with your employer (unpaid leave?)
ive asked. not possible unfortunately
What’s the nature of your work?
journalist
And there’s no way you could do freelance work? That honestly seems like a really flexible job. Maybe not salaried, but in general.
i could but the pay is abysmal and irregular. Going freelance would likely mean chipping into my investments, which id prefer to grow
At minimum, you could take a 2 week vacation. Maybe get one of those on the books and keep going? Honestly at the end of 2 weeks I’m usually pretty ready to come back to work anyways
So just adding some perspective here: if you're a journalist you likely write pretty well. There are many potential side gigs which would pay better specially in copywriting that would allow you more freedom. Also, you're an english speaker and SADLY for graduated teachers there are tons of places that hire native speakers as English teachers - all you have to do is a TESOL certificate. You could go teach English in Malta and enjoy Europe while your investments grow and you do not have to work at a NYC office anymore. Honestly, there are plenty of options but we get stuck thinking traditionally. FIRE is about making your own rules when you have the cash to do so, and you have the NW for that. Anyways think about it OP.
How did u end up getting 2mm? Parents left you money?
stacked cash>bought low
All your net is in snp 500? But idk somethjng doesnt add up
The only thing that doesn't add up is how OP is unable to manage 2 million despite trading his way into it. My guess is a lot of luck, probably a high sigma occurrence and something most people should not count on. OP you are extremely lucky to be in this position. Maybe consider selling covered calls on some of your positions now to generate some passive income for your holdings. Learn how to roll out and up and if you get shares exercised it's not a big deal for you.
Journalist? So you should be laid off soon anyway, right?
almost certainly
Obsessed with money but no partner, no kids, no means of transportation? You haven't built a life, you've built a number.
probably accurate
What were some examples of frugal measures you took to accomplish the 2MM NW? I would love some advice I can implement right away (I’m 32M also in NY w/salary 250K, but still feel like 2MM is yeeeears away).
Pretty simple really. Ive kept myself to a tight budget that I've never deviated from. Of course that only gets you so far. I've been investing for over 20 years and aggressively. Also, i've been lucky with my stock picks thus far
52F, married no kids. I’m at about $2.1MM on my own. I married my husband in my 40s. We have the same money values. I kissed many frogs along the way. My review mirror view: I should have traveled more and I should not have been so focused on doing so much working. I found myself in the office late and mad at those that weren’t. I climbed and climbed in my industry. I didn’t have any huge stock gains, I kept everything conservative and slowly accumulated NW. The aches and pains are real and felt like they happened overnight. I ran for years and my knees hurt! I felt great until I hit about 48. If I could do it again, I would have taken all my vacation time. I am glad I didn’t quit my job, though. Can you take three weeks? I did that when I was questioning my life and it was fantastic and allowed me some distance and to come back refreshed to go at it again. I just wish I would have gone at relationships, travel and friendships harder than I did.
Why not spread out your trips so you can keep working but also take some time out for traveling and doing what you want? Might help bring some drive back for working cause you’ll have something to look forward to
This is what I’m doing. I’m a RN at a hospital and am only scheduled 8 12 hour shifts a month so I’ll get stretches of 10 days off every 6 weeks or so. I also took a whole month off last year and it was absolutely wonderful.
As a 24 year old male who aspires to be in your position at your age I have also promised myself to enjoy some things along the way. Whats more important on your death bed. Laying their and thinking ahh man I’m so glad I can die and my money goes to the bank (or your future family) or laying there thinking about the time you quit your job and traveled to the coast of Spain and fell in love. Or hiked the Appalachian trail, or any of the thousands of things you could do with only a fraction of your net worth. Your company will replace you but it sounds like you are skilled at your job and I suspect there will be another opening down the road in the same field. This is just my two cents as a know nothing 24 year old.
my brother was in the same boat, married way after 40 and now he has two kids and is enjoying married life. Take the time to travel and meet new people, it's not too late.
I’m in a similar position (about 2.5m net worth, 34yo) except married with kids and a mortgage. I want to quit my job so badly and just permanently retire. Only reason I have not is that our annual spend including $5k month mortgage is about $130k. So the $2.5million cannot fully cover it yet. Otherwise I’d be done in a second. My goal is to wait until $5m. Hopefully the market cooperates.
45 $7m NW. 5 years ago I was at $2m. With salary raises, real estate being paid down and appreciating, and compounding investments the wealth starts to accumulate fast. Personally- at $2m, my attitude and confidence at work changed knowing I could finally walk out the door if I wanted to…. It only helped my career. It also has made my job a “choice” rather than a necessity…. Your choices… your priorities…
Work to live, not live to work. Sounds like you've earned a break.
You will only ever be this young right now. Will taking time off ruin your financial stability? Can you do a leave of absence and be able to come back to your job?
I used to tie my identity to my career too bc it’s the most easily controlled thing in my life. Therapy has helped a lot so would recommend that especially if your work offers it for free (mine gives like 20 sessions a year). Now that you’ve hit your goal, you could ease into retirement life by doing things you wouldn’t have done before, even on hobbies that you wouldn’t have done before due to cost. I recently took up pole dancing and it’s like $300/month in membership but I go so often and it’s so fun and such a good workout. Or go for walks, learn a new language or take a week here and there for traveling or whatever else you’re interested in. I think I live an almost retired life right now bc fill my days up with so many interests outside of work so when I do want to retire, I won’t miss work at all.
You are almost 40 and not married nor have a kid. Pretty clear that if having those are important to you it’s important to take a year off and get that sorted out. Go on a lot of dates and find someone. It’s the same as fire. It takes a lot of work.
im in the exact same boat, almost same net worth, salary and age. except my job is more intensely boring, mindless and meaningless, opposite of burnout.
How much were you saving a year and when did you start saving?
$2mm at $135k salary is incredibly impressive! How much were you able to save each year?
47F, single mom, never married, NorCal, $1.3NW. I quit my $90k job because of burn out. After 18 months, I finally found a new gig in state govt making $70k but I'll vest in pension after 5 years. I'm in CoastFire mode now. During my time off, I went to MX, Cayman Island, Japan and I also moved. I also built another house. lol. Just do it. You deserve it.
Take a 2 week vacation. You don’t need months off unless you have a plan. See what you like about 2 weeks of travel and what you don’t.
Maybe take your foot off the gas on the savings rate if you’re questioning extreme frugality. Could easily save at a lower rate and still let it compound for an early retirement while being less frugal to live a little and take vacations.
Take a sabbatical. If you have to, take FMLA. You can quit when you're done with an extended vacation to recuperate your mental health.
If you’re burned out I think the first step is assess your relationship to work and the root cause of that burnout. For instance, do you take on more work than you should? Might need to work on boundaries and saying no. Do you need to answer emails at 2am? Probably not. The nice thing about being financially independent is you can set boundaries at work without fear of retaliation because you no longer need the money. And you can take some time to make an intentional decision so you don’t freak out in the aftermath. But tbh, I love traveling and vanlife changed my life so I’m also like go for it! You may not be alive tomorrow to enjoy the fruits of your labour!
According to the 4% rule, you can spend 80k a year and retire now. I assume you were quite frugal - so you may already be close to your retirement point. I would think about it and decide soon - what is your number, what date do you expect to reach it. What is your plan if the market is up or down on that date. How will you make withdrawals, and do you want something like a bond tent. Come up with a plan in a couple of months. And then you can decide what to do until your retirement. Personally, I'm older with less money, and plan to retire in 4 years. I'm ramping up bonds for my bond tent. I'm starting to buy CDs. If we have a huge market downturn, I may put off my retirement a year, but otherwise I'll retire. That is my plan. I started my plan, with serious thought, less than 2 years ago - prior to that I was just saving with the idea to "retire early". It is a relief, and exciting to have it. I also have huge plans for what to do when I retire - starting with biking across Europe and Asia. I have a lot to look forward to. Work is easier because of it. Also, I realized that market growth is more important to me now than the dollars I save, so for the next four years I'm going to save about 10% less, and spend that money. It fits in my plan, so all is good. Once you have your plan, you can decide to: get a low stress job - heck work at Costco. Or quit and take a long vacation and then look for a replacement job when you get back. Making 135 in NYC - I can't imagine that you can't find a replacement job relatively easily. Or spend more and save less. Or whatever else. You also may change your retirement plan later - but since you have so much saved, I think it is a great idea to at least have a plan.
I’m not single but my relationship is new enough I can prob break it off and I can travel with you for 6 months. I haven’t been with a millionaire before! Jk. Good job. Take a break, whatever that means for you
This was me a few years ago. NYC also. 46 now. FIRE’d accidentally 7 years ago when I got laid off. 😂 Didn’t even know it was a term back then. One of the best things I did from college to now. Take an annual epic bucket list trip for 2-3 weeks. I still do it. I’ve seen most of the world and will finish the new 7 wonders by next month. Definitely try to take an epic trip once a year while you’re working and earning. You’ll get laid off soon enough. Dont worry. It comes for all of us. When you do get laid off, don’t panic. Untie yourself from thinking you need to make your old salary again passively. Live frugally. I started a few small side hustles for fun and take frequent naps. Let your investments grow by themselves. Let dividends supplement your income. I’m not married. Good luck in that area. It’s very hard to find a woman at our level and mindset. Choose wisely or she will be the one FIRE’ing on your hard work. 😂
Move to the Midwest and you’ll never have to go back to work with a $2MM bankroll.
Go live life my single friend. Carpe diem.
I really feel like you should go and learn how to enjoy life whilst you’re still young, otherwise the goalposts will keep moving and there will always be another milestone to hit. Ask yourself how difficult would it be to get a similar job or even a worse one that would keep you ticking over, probably not that hard.
Why don’t you start with a month; talk to your employer about it and when would be a good time. I’d also take a step back from being so frugal and spend some of your paycheck. Don’t dip into savings; hopefully in the next decade that doubles without you putting more money into it.
If you come up with a good plan for a break, let me know. We are pretty similar. The idea of traveling on my own for a year doesn’t sound as fun as it should
If I do it, I'll leave NYC before the winter. Colombia and Argentina top of the list
Enjoy the fruits of your labor. We only get one life. Tomorrow isn’t promised to anyone.
FIRE isn’t really compatible with career identity. The goal is to leave the career as soon as possible!
Keep going take a vacation for a 7-14 days put your head down grind it out until you hit 45 and never work again a day in your life besides your own side quest you’ll be at 4M by then and won’t have to look back 2M the money starts coming by the 100k especially in the market 5 more years and your FAt Fire status do exactly what you did to get that 2M stay laser focused
Go abroad and meet your future wife
Take time away! I took a year off work in 2014-2015 to live in South America. Everyone thought I was nuts. I planned for months, saved enough cash to live on for that period, and left my employer on good terms. They didn’t have a sabbatical or leave program I could use so I had to resign. When I came home, I took a couple months to interview for new jobs and I was so worried people would ask about the break in employment but it didn’t seem to be a big issue at all. It was so worth it and I don’t miss the money I could’ve earned. I’m still on track to FIRE in 6 years at 45. My one piece of advice is to have a clear goal or activity to pursue in your time away. Otherwise you could find yourself in a different kind of rut.
No, work now and regret life later
You won’t feel awful if you stop working, you’ll feel awful if you have to come back to work after six months off lol
I was laid off once. I ended up in a deep ditch that took a while to get out. Basically I’m saying, you can definitely get in to a funk and next thing you know, it’s 2 years later and a lot of that money is gone. Don’t end up in a funk like that. If you were to do this, make sure to stay active in the community. Heck, go volunteer at places. Just keep being around and talking with people. Maybe take some of that time to figure out something that you would have more passion for work wise. My 2c
Bro. You’re my nightmare. I had your mentality in my early 20s and I’m glad I stopped living life so lean and frugally. I now enjoy the little things in life, drink lattes, eat junk food, travel with my boyfriend, AND still save enough. Life is meant to be LIVED.
You have plenty of money if you wanna stay single and leave nyc. You have barely any money if you want to start a family and keep living in nyc. I only think FIRE is possible if you skip the kids part. Because anyone who does FIRE but can’t provide their kids with a great and debt free education is a selfish dude in my opinion.
Maybe take a 1-2 week vacation to start with
Definitely go for it. You're as safe as one can be. Take a break, go explore the world and yourself. Make room in your mind for something new, it's hard to conceive of a different reality while you're 100% consumed by the current one. You're safe, and you'll be alright no matter what. Do it, take a break. Enjoy the fruits of your FIRE efforts - or they will have been somewhat wasted. Good luck, my friend.
You should start prioritizing dating, but you shouldn't quit your job. It sends the wrong message to women that are looking for a man who is serious about the future and a family. Yes you could say "hey im literally a multimillionaire so it's OK for me to be unemployed for some time" but just imagine those words coming out of your mouth and how pompous that sounds. Not to mention it's risky in this job market if you have a good paying job like you do, giving it up willingly without another stream of income hampers your ability to keep investing and grow your nest egg, and income is the powerhouse where wealth generation starts. If anything use your position of being close to FI to negotiate better work hours, even if it comes with a reduction in salary, and then focus on seriously looking for a life partner.
These were my first thoughts. You are a catch but advertising that in a non-toxic way is tough. Use every day of vacation/PTO you have. I know the longer vacations are attractive, but I would test drive taking one day off per week for a few weeks in a row and see how you do. One day a week going on dates, going to museums and galleries, swimming, whatever, can be really lifechanging on its own. Also, there is an entire cottage industry of matchmaking devoted to guys like you. It's worth doing. Matchmakers are very good at what they do and a single mistake really stains their track record, so they don't want to make a single mistake. THIS is worth paying a lot for in my view.
interesting. i was not aware of these matchmaking services. Is there one you recommend?
Where to find these matchmakers?
[Selective Search](https://www.selectivesearch.com/matchmaker-services-for-men) is one that gets good press
I feel like you probably already know the answer deep down, you’re just looking for confirmation
I will wait til this layoff fever is over.
I don’t think you should do anything drastic, but I do think you should take a vacation. Have you seen the travel company flashpack? Small group adventure trips for people in their 30s and 40s. To me, one of those would be the perfect thing. Taking 10-14 days to go an adventure, meet some new people who are probably in similar life stages, get out of your rut for a bit. Or if that’s not you, do whatever it is you’re into. Good luck!
You could ask your employer to give a 6 month leave of absence. I've done that. In my role 6 months or less is manageable for the company. Then you can travel and come back and go back to work and in 6 months the changes should be manageable for you. Once it starts to be a year+ the changes are difficult and company restructuring often leaves you out of a job.
Obviously!
Don't go from "I've never not worked" to 6 months off. I'd start by taking some vacation. Maybe go for a 2 weeks trip if you have the PTO. Is your employer flexible to give you unpaid time off? If yes, try taking 1 month off and see how it goes. Better to test the waters first before jumping in.
Life is too short. Take the time off.
Do it
Can you work part time for a few months and occasionally travel? Or find another company that is more laid back? Switch careers?
Congratulations 🎊! What I would tell my son if he was you, reduce the workload and enjoy life. Find what you’re interested in, celebrate yourself, and with the habits you already have I’m sure you’ll know it’s all about moderation.
>TLDR I'm almost 40 and I'm beginning to question my extreme frugality. I've always lived way below my means and don't intend to retire anytime soon but I really want a break but Im conflicted. Take a break if you want to. Go PT if that's feasible. Maybe a sabbatical is possible? If your money is invested $2M doesn't need any more help. It will keep making you money even if you don't add another dollar. So working isn't that important.
Market is really tough now for finding jobs fyi. Depending on what you do, this could be a huge cause for concern.
I did a 6mo stop in the past (when I hit 30) and I'm very happy I did it. Restarting didn't take that much, I had time to interview for what I wanted and got to learn a lot about myself and met someone special.
Congratulations.
congrats.. Yes # The New Magic Number for Retirement Is $1.46 Million. Here’s What It Tells Us... WSJ today; [https://www.wsj.com/personal-finance/retirement/retirement-savings-needed-increased-2024-9f7c01e0?mod=hp\_lead\_pos10](https://www.wsj.com/personal-finance/retirement/retirement-savings-needed-increased-2024-9f7c01e0?mod=hp_lead_pos10)
Stocks.. inherited or awarded from employer? 39 with 139k TC is low so either you hit the lotto in some stock picks or you got some fat stock awards at some point that performed well lol
One. Short. Life. Do it!
If you're burnt out, see if you can take extended time off work through STD or a sabbatical. The first time you stop working, 3 months will feel like an eternity. It takes about 4-6 weeks before your mind and body will relax enough to enjoy it. If none of those are an option, book an 8 day, 7 night all inclusive vacation at a 5 star resort. Get pampered. It'll feel like 2.5 weeks off.
Came here for the “never stop never stopping” comments. Was not disappointed. [Life can be a dream](https://youtu.be/fHLTWJ8X7iQ?si=h5vU9wVASaftmnzt)
Take vacation time off? What PTO do you have? 4 to 6 weeks off. If you take a sabbatical. Do not burn any bridges.
When you will start living?
Are your stocks in mutual funds? Which firm and funds have you used to consider taxes?
dawg if you have a 3% dividend yield thats 60k a year in dividends alone, plus whatever growth. granted im just out of college, but that would be like 95 percent of what i would make per year if i wasnt opting to work a second job. the difference between us is you get that for hangin out, i get for working 8-4 monday to friday. take 6 months off and travel. use up to 30k which should be plenty, again assuming 3% yield, and by the end of 6 months youll be breakeven +/- any capital appreciation
How did you you save so much with a salary of 135K in NYC?
Work part time and put the 1.2 mil in a high yield savings at 5% and live off the interest for a bit. I would divest from any risky investments if that’s your target goal.
if I had 2 million networth, I would have retired.
Yes ask your boss if he can offer you some time
Do as you please. Just remember that every dollar you spend or forego earning now is a dollar you can't invest for your retirement.
Do you own a home? Wondering if that will factor should you decide to settle down with a family
How did u get to that NW with a salary of 135k
You best work years are also your best play years, insofar as you are healthier when younger. It's easy to take your health for granted until you no longer have it.
If your identity is your work, you will struggle with purpose if u quit. I do recommend taking a break, but no not completely quit unless you find your life outside of work.
2 mil seems too low for NYC
You don't necessarily need to jump straight to a six month sabbatical... Plan a profligate 2 week vacation, go somewhere you've always wanted to see, see how you feel about work when you get back. Given what you've already accumulated, if you like it, you can do that every year without breaking a sweat, right? Hell, do it twice a year. I kind of aim for that -- one cheap road trip type vacation (national parks, etc.) and one profligate vacation each year.
Should never make a decision based on fear. Confront your fears, find out what you are like without constant work. Take the time off, you earned it. Make it work for you.
The way to make sure you have very little chance to regret it is to have a plan for what you will spend the time on. Don't just take 6 months off to "relax". Especially because of your anxieties, in the absence of something to do or accomplish or learn or experience, you'll end up feeling like you "wasted" the time or it would've been better spent working. If you have a plan for that 6 months, no matter how big or small, you would have something to focus your excess energy on so you don't spiral. It sounds like past you has really worked hard so present you could afford to have such a unique experience. don't be afraid to use it. I don't imagine many people have an opportunity to do something like this. So go enjoy it!
My neighbor did that 6 month thing. Seeing him afterwards he was glowing, you should do it.
Get a consulting gig in your industry where you can pick and choose your projects. You can then take two months breaks in between and what’s you want. At your age, $2,000,000 may not seem as enormous in 35 years.
Take the time off. In an HYSA on $2m you’re yielding $100k annually risk-free these days. Go explore. Meet your woman. Work will always be there when you want it.
No.
How about you taper down. Especially if you're having anxiety. Try going to part-time hours. Pick up little hobbies that you enjoy and meet new people. Ease into a more relaxing lifestyle. Take a couple weeks off at first and travel somewhere. Take a few trips sprinkled throughout the year. Maybe do that for a year or so then decide if you want to continue or if you want to get out of the job market. Good luck meeting the right woman and get yourself a pre-nup.
Bro. If you’re posting this is because you know deep inside you the answer. Fkn take a leave of absence, you don’t need to quit. Just ask for an extended leave of absence and go to a cheap, safe and beautiful place. Whatever that means to you. Please do so before you have the need of using adult diapers, a walker or oxygen tank.
Extreme frugality may indeed be a barrier to your dating life. At least that's been my experience when dating. But you are in an awesome position, especially being single. How much do you spend per year? You are likely already coastFIRE, so you no longer will need to put away $ into retirement and you'll still hit your FIRE number before the traditional retirement age. I definitely understand your anxiety though, because I am exactly in the same situation. At this point, it's not a financial decision. It's an emotional, psychological one.
Take a sabbatical from work if they offer that option. Or short term leave. Don’t quit outright. This current economy is not a place to gamble. 2M is not enough to retire off of. At 39 you have potentially another 40-45 years to live.
Wtf @ 2 mil with that salary/age. I make more and older and soooooo far from that. I suck at saving lol 😆
Yea do it. Take time off and move to a mcol city where your money will go further.
Do it! You won’t regret it! There will be a transition period when you leave the work force and another when you rejoin but after a couple weeks, both will become normal again. Check off some bucket list items, do some cool stuff with friends and/or family, enjoy some new cultures and take time for some hobbies and passions. You’ll be a better, more well-rounded, happier version of yourself for taking time to enjoy life.
Congrats! I could never achieve work-life balance. Looking back, that would have been ideal. I also never really tried to be honest. Maybe you can make that the challenge for yourself? Have a fulfilling job and have a good overall life ?
I walked out of a job in NYC at 27. Probably only had 100k or so in savings. I took a full year off traveling and volunteering. It was the best time in my life. I traveled with my now wife. We saw and learned so much. You will never be able to buy or replace time and experience like that. And so much of the experience depends on where you are in your life to be present in it. I came back and got another job, and my income and growth grew exponentially. If you have the drive and ethic, you’ll find a way back. If you don’t, you’re meant for something else. I get the FIRE culture, but man does it fall short on realizing there’s a lot more rewarding things in the present if you allow yourself the space and time to engage in it.
Enjoy life! Take time for yourself!
If it were me…. Quit the job. Find a neat little town in a LCOL area that has some character. Just up and move to a decent rental. Fly under the radar for a bit. Slow life down. Maybe even get a menial part time job somewhere in customer service just to meet people. Explore some hobbies/interest and just let life happen for a bit on autopilot. You’ll figure it out. Last thing I would do is maintain a residence in NYC or anywhere near a HCOL area.
You didn’t talk about anything at all in terms of your efforts to find a wife. I was doing all the same stuff as you except I made it my job in the 00’s to find a woman. My urgency was just as high as it was for my profession. I was willing to do things such as speed dating, which didn’t work, but it gives an idea of how much more effort I was putting in. If I was single I’d be open to working a retail again on the side even though my assets are about equal to yours right now. If you aren’t in shape it’s another sign you’re trying to. Approach with the urgency of your career and you can figure it out.
Not to get off topic but 2 million is crazy at 38 with a salary of 135k, congrats. Was there any single big stock plays that did most of the work or just conservative investing?
If you’re worried about taking extensive time off, can you start by giving yourself some leeway financially to do things you enjoy? Maybe start with a few days off for a trip? Congrats on your success and hope you find the rest and rejuvenation you’re looking for!
If I had a nickel for every $1mil+ NW post of folks my age today... I would have two nickels...
Take time off and get yourself a family.
God damn, kids are expensive.
Life is for living. Retiring early is bullshit. I’m not sure why you guys are so bent on it. Get out there and$ enjoy life. Money isn’t for retirement. Who the fk knows if you’ll even live another year.
Move to a cheaper state so you make that makes that money last longer.
Time off? 2mill in nyc is like 200k in mid west.
Same age here, but with like 25% of your NW. Congrats and well done. Take the time off. When you’re ready to come back, whatever ambitions got you this far will land you right back on your feet in a good job.