classical_Liberal wrote:That basically reads like a solution to all of my personal fears regarding the future. Very interesting and helpful take.
Glad you found it useful. Mostly based on recent re-read of "The Renaissance Soul: How to Make Your Passions Your Life - A Creative and Practical Guide" combined with all the systems-theory and econ stuff I've read since the first time I read it. I would nominate Margaret Lobenstine to be Jacob's Vicki Robin. Interesting note would be that there is only this brief, rather dismissive mention of anything approximating FIRE in this book:
When you're ready, we'll look at an issue I've asked you to set aside up until now: money. None but the independently wealthy can afford to buy into a life-design concept that doesn't address the problems of income and education.
She makes a number of useful suggestions, but the one that stands out is the concept of the J-O-B, which is any form of employment which passes systems test in relationship to the projects which you are currently passionate about working on. A very good J-O-B should provide you with 2 or 3 of the following: income or benefits, energy, time, training/equipment, social connections related to one of your passions.
My observation is that even
the independently wealthy can't afford to buy into a life-design concept that doesn't address the problems of income and education. Of course, Jacob also makes that point in "ERE", does NOT recommend purely passive rest upon laurels, but this is sometimes ignored. if you aren't at least somewhat passionate about continuing self-education in the realm of finance/investment, and developing your other skill sets, then don't go crying boo-hoo to Jacob 'cause your feet hurt after a long shift at Wal-Mart when you are 55.
Ego wrote:Successful early retirees must either make it circular: Learning while doing while learning while doing while learning......
Or they must completely erase the lines between learning and doing entirely.
Exactly, except I would rub out "early retirees" and replace with "21st century human." Good article. At this point in my life I find that I can barely tolerate conventional education except as a bit of a tether attached to very long leash. Also, my abilities in the realms of test-hacking and speed-reading often subvert my learning curve if I don't expand the experience out with my associated interests, towards core with original works, and with eye on eventual application to creative personal project at horizon.
Bankai wrote:The choice between spending time maintaining knowledge Vs doing simple work is interesting. Say you need 8h per week to keep your qualifications up to date for 50k net job. On the other hand, you could spend those 8h working simple job for 15/h while enjoying all the social benefits of work. One day of 15/h/week work is equivalent to 200k at 3% wr. Maintaining skills would still require going back to work for 4 years to make up for lost 200k on top of 8h per week of learning. I guess the choice boils down to personal preference of learning Vs social interaction.
Based on my experience, I would suggest "Do both" or, at least, leave both options open for future exploration. OTOH, I did NOT mean to imply that the primary purpose of "cutting edge self-education" should be maintaining your current resume. It's more about maintaining your own internal edge or hustle. Also, the possibility of self-employment is important third leg of stool. You always have to be asking yourself whether you could directly market valuable skill or product created with skill. Unless you go completely Emily Dickinson with your skills, the juncture between your skills and your social interactions with other humans will almost always create some form of resource flow.
Let me offer an example of a clear fail on my part to illustrate. Last summer I took a J-O-B at a big-box home-improvement store garden center during spring planting rush. Although the pay rate was terrible, almost not worth the social cost of bumming a ride home in the evening from paramour, at first the social benefits of chatting and offering advice to other gardeners, small learning curve in being trained on tasks such as best practice for securing lumber to car roof, physical exercise, and free snacks in break room seemed to be in alignment with my core objectives. However, after the busy season passed, and I was offered permanent part-time position, and found myself engaged in the task of endlessly restocking gallons of Round-Up and contemplating my participation in the eradication of the honeybee in clear violation of core values system, I kept at it out of pure inertia or misguided application of work ethic for at least a month longer than was optimal. So, once you've granted yourself free agency over your human capital/life-energy/skill-time, you have to keep your eye on your book just like you are trading or investing in the stock market. When you are employed-by-other, it is especially important to follow-the-money related to who benefits if/when you don't quit. Leverage should always be a two way street, but taking your pay and sticking it in the stock market is not the only way to achieve this balance.