The Motley Fool Discussion Boards
Retirement Discussions / FIRE Wannabees
|Subject: Re: When did you realize and where are you now?||Date: 8/7/2003 8:05 AM|
|Author: nukenick||Number: 120 of 5088|
<<<<<Hi guys, I'm Adam, and I'm an FIRE wannabee too. I was wondering when you first realized you wanted to be FIRE and how far along you are now. So here goes.
I'm 23 years old>>>>
Finally someone that is really in the same boat as me. I am 23 also and am hell bent on getting out of working.
I have been really saving/investing for a couple of years now. I started first with an IRA from Vanguard. After that I got hooked on investing. I think that it is really good that you have saved up that much money to cover 6 months worth of living expenses. That is awesome.
In my situation (US Navy) I really don't need to save for living expenses since I can just live on the ship if I choose. Later I will prepare for that.
Currently I save about 30% of my money. I dont make a whole lot but its cool. I could save a lot more and I probably should. I like seeing my family and a ticket from Norfolk, VA to SF, CA is quite a bit of change no matter how you early you get tickets.
I think that for people our age there is a delicate balance on how much you should save. You shouldn't save so much that you are a shut in and