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Author: decath Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5084  
Subject: Re: FIRE entirely on salary Date: 1/5/2007 8:48 AM
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Gingko100:
I think the biggest danger is assuming you can't do it. If you start now, even if you can't fully realize it - you can (at a minimum) severely scale back your work plans/schedule in later years. You could work PT at something fun, instead of having to work at your current job. If you assume it's not possible there could be a huge problem for you down the road.

I agree! I've had to make several adjustments to my FIRE date since the late 1990's when I 1st started putting my plans together. I had originally planned for a FIRE age of 48. Then we had the tech wreck that severely effected my investments and my income potential. Then DW decided to be a SAHW and home school 5 years longer than we originally planned.

But even though I had to move my FIRE age up 5 years, I still plugged along with large FIRE contributions. Even if I don't make my current projected age of 53, I can at least slow way down, work part time, consult etc.. if I chose to do so.

decath

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