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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 5068|
<<<<<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 you shouldn't spend so much that you are up to your eyes in debt.
Most of my friends are in the later category. They are happy I guess so who am I to judge.
I haven't set myself on a timeline to see how much I need to save to get where I want to go but I think that is the next thing that I'll do. You can't get there if you don't know where you are going, right? Listen to people on this board and the REHP. You won't get better advice than from people who already are where you want to be. I like the other page (on topic) alot. The FAQ section is great. I am sure that this board will bloom also.
talk to you later
I'd like to retire about 45. I'll get there.
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