For me, it's simple: fear.
I guess it's the result of living in an at-will state (for non Americans, that means a state where employers can fire you at any time for any reason, or no reason at all), and my own nurture and nature influences that have made me generally not trust people. As a result, I am afraid that the job marketplace will not provide for me the income needed to cover my basic material needs.
So I turn to the asset marketplace, which offers more reliable ways of receiving income. This also makes PP and fixed-income assets personally appealing to me, and makes me shy away from equities (I'm working on having a more rational attitude toward asset ratios, but the market's skyrocketing P/E ratios aren't helping).
What emotion inspires you to stick to the ERE path?
What emotion inspires your ERE goal?
Good question! One that I've put a bit of thought to in the past too. For me it is a mix of fear and uncertainty, a desire for autonomy, and a desire for flexibility.
Fear - There are some histories of mid-life burn out in my family, often career related. Even though I may not actually pull the trigger, if I feel this is starting to happen to me, I want to be able to flip a circuit breaker away from my career. Being FI means that this fear of "being trapped" is significantly reduced.
Uncertainty / fear of missing out / desire for flexibility. There are so many amazing things to do in the world, and a rather finite lifetime in which to do them in. Having a FI / RE base means I can choose to take opportunities when they come, rather than letting them go.
Desire for autonomy. Maybe its trust issues, but I don't want to feel reliant on anyone - be that a partner, my family, an employer or a government. I don't like feeling indebted to anyone, financially or emotionally. Rather ironic given my current debt levels!
Keen to see what drives others too.
Fear - There are some histories of mid-life burn out in my family, often career related. Even though I may not actually pull the trigger, if I feel this is starting to happen to me, I want to be able to flip a circuit breaker away from my career. Being FI means that this fear of "being trapped" is significantly reduced.
Uncertainty / fear of missing out / desire for flexibility. There are so many amazing things to do in the world, and a rather finite lifetime in which to do them in. Having a FI / RE base means I can choose to take opportunities when they come, rather than letting them go.
Desire for autonomy. Maybe its trust issues, but I don't want to feel reliant on anyone - be that a partner, my family, an employer or a government. I don't like feeling indebted to anyone, financially or emotionally. Rather ironic given my current debt levels!
Keen to see what drives others too.
Anger and/or annoyance with a dash of contempt. I don't like having to depend on undependable people/systems or being yoked together with those who refuse to do their share of the pulling.
Or, said from the positive perspective - Joy and serenity with a dash of trust. I like having to depend on myself and a few dependable people/systems. I enjoy having the freedom to chose to be yoked with those who reliably do their share of the pulling.
Or, said from the positive perspective - Joy and serenity with a dash of trust. I like having to depend on myself and a few dependable people/systems. I enjoy having the freedom to chose to be yoked with those who reliably do their share of the pulling.
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aussierogue
- Posts: 379
- Joined: Thu Nov 10, 2011 1:02 pm
For me i have found that working for the man made me a man i didnt like. A hollow man.
The rat race made me anxious, self centred, aggressive - basically highlighted and excasserbated the negative aspects of my personality. I found it hard to reconcile working hours on hours to pursue the middle class dream of a large house, debt, new cars and 4 weeks holiday at an island resort. I even hate wearing suits - they just dont feel right and it made me act different. When i wear jeans and tshirt i feel its more natural.
Having control of my finances on the other hand allowes me to be closer to my true nature. Time, space, rest, less interaction with people i would otherwise want to deal with...makes me calmer and makes me happier. It also reconciles better with my bohemian / anti consumer slant. It just makes more sense.
So by far the major reason is that I feel way more authentic and comfortable in my skin and that has been a long term goal of mine. This inturn allows me to be a better huisband, father, son, citizen.....
The rat race made me anxious, self centred, aggressive - basically highlighted and excasserbated the negative aspects of my personality. I found it hard to reconcile working hours on hours to pursue the middle class dream of a large house, debt, new cars and 4 weeks holiday at an island resort. I even hate wearing suits - they just dont feel right and it made me act different. When i wear jeans and tshirt i feel its more natural.
Having control of my finances on the other hand allowes me to be closer to my true nature. Time, space, rest, less interaction with people i would otherwise want to deal with...makes me calmer and makes me happier. It also reconciles better with my bohemian / anti consumer slant. It just makes more sense.
So by far the major reason is that I feel way more authentic and comfortable in my skin and that has been a long term goal of mine. This inturn allows me to be a better huisband, father, son, citizen.....
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
Reading these responses, I think these all play a part in motivating me. I realized when I quit my hated job and began freelancing full time that, even though I'm not fully FI, I feel a sense of freedom I didn't feel before as my own boss, negotiating on equal footing with clients, etc. I suppose the desire for freedom, independence, and the security of multiple income diversification is another big motivator for me.
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jennypenny
- Posts: 6861
- Joined: Sun Jul 03, 2011 2:20 pm
For me it would be a fierce need for independence. I wouldn't call it freedom, because freedom has a positive connotation. I think my need to be independent can often have a negative effect on my life.
Maybe that's just a different way of saying what Chad said about power and other people having power over me?
Maybe that's just a different way of saying what Chad said about power and other people having power over me?
Anger. Unquestionably. Sometimes a slow burn, sometimes like a seething Bessemer converter of white, hot molten iron.
I realized I had to be quit of working for anyone but myself the third time I was passed up for promotion by a person of less capability. Idiot bosses appreciate your intelligence and candor only when it serves them, not necessarily when it serves the mission.
I realized I had to be quit of working for anyone but myself the third time I was passed up for promotion by a person of less capability. Idiot bosses appreciate your intelligence and candor only when it serves them, not necessarily when it serves the mission.
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Christopherjart
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I think I'm motivated by several different factors.
1. Uncertainty/anxiety for the future.
I'm 36 and single so there is no backup income and no one who would take care of me in an emergency so I need to prepare myself. Will I be ready for semi-retirement in a few years? probably not, but even some investment income will make a big difference.
2. Desire for stability.
I'd like to have a place to call my own to live in or have a place of my own to move to in an emergency. That costs money which I still don't have. If I can go from saving to earning money on investments little by little that could supplement and hopefully replace earned income so if I got sick or lost my classes I'd still be able to get by eventually. Again it is very doubtful I'll have enough saved to buy my own place, but who knows perhaps an opportunity will come up in the next 5 years and I'll have enough for a downpayment.
3. Hope for a better future.
I'd like to stop teaching (at least stop teaching a long commute from home) and focus on my artwork and graphic design. Unfortunately, I'm not ready to make the switch.
I also hope to have more freetime. I'd like to travel more, make some photo books, learn new things. It is hard to find time to learn new things when teaching. I'd like to study in an open university program where you study at home and do almost everything online.
1. Uncertainty/anxiety for the future.
I'm 36 and single so there is no backup income and no one who would take care of me in an emergency so I need to prepare myself. Will I be ready for semi-retirement in a few years? probably not, but even some investment income will make a big difference.
2. Desire for stability.
I'd like to have a place to call my own to live in or have a place of my own to move to in an emergency. That costs money which I still don't have. If I can go from saving to earning money on investments little by little that could supplement and hopefully replace earned income so if I got sick or lost my classes I'd still be able to get by eventually. Again it is very doubtful I'll have enough saved to buy my own place, but who knows perhaps an opportunity will come up in the next 5 years and I'll have enough for a downpayment.
3. Hope for a better future.
I'd like to stop teaching (at least stop teaching a long commute from home) and focus on my artwork and graphic design. Unfortunately, I'm not ready to make the switch.
I also hope to have more freetime. I'd like to travel more, make some photo books, learn new things. It is hard to find time to learn new things when teaching. I'd like to study in an open university program where you study at home and do almost everything online.
There are several.
Anxiety: I have a family, and I need to make sure they will be provided for under all conceivable circumstances.
Indignation: Whether it's spoiled food, gas-guzzlers, too much house, etc., I despise waste in all its forms. A simpler, smaller lifestyle is the only thing that keeps me sane (debatable, I know).
Compassion: I can't be charitable with money I don't possess.
Patriotism: Spending money on things I don't need is disrespectful to the work it took to earn it and the whole concept of capital formation, which is ultimately necessary to grow our economy and create jobs. A nation of debtors won't survive, and I want to do my part to help my country prosper. I can best accomplish this by: a) making sure I am not a drain on the system, and b) having capital on hand to invest and help businesses grow.
Anxiety: I have a family, and I need to make sure they will be provided for under all conceivable circumstances.
Indignation: Whether it's spoiled food, gas-guzzlers, too much house, etc., I despise waste in all its forms. A simpler, smaller lifestyle is the only thing that keeps me sane (debatable, I know).
Compassion: I can't be charitable with money I don't possess.
Patriotism: Spending money on things I don't need is disrespectful to the work it took to earn it and the whole concept of capital formation, which is ultimately necessary to grow our economy and create jobs. A nation of debtors won't survive, and I want to do my part to help my country prosper. I can best accomplish this by: a) making sure I am not a drain on the system, and b) having capital on hand to invest and help businesses grow.
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
"Indignation: Whether it's spoiled food, gas-guzzlers, too much house, etc., I despise waste in all its forms."
Yeah--this is a really big one for me. I get really angry at people who feel they need houses with 4 bedrooms with only one child, two cars, and all the worthless crap they buy to fill those houses and cars.
Yeah--this is a really big one for me. I get really angry at people who feel they need houses with 4 bedrooms with only one child, two cars, and all the worthless crap they buy to fill those houses and cars.
Originally it was fear -- I started off saving aggressively because the economy was terrible and I didn't think my job was secure.
Then I started comparing my savings to my expenses and realized I could survive for years if I lost my job. The fear stopped.
Then I discovered ERE and I realized my expenses could go far lower. Curiosity drove an attempt to see how little I could spend and still be satisfied.
Now, I'm mostly driven by hope that I can achieve an appropriate SWR and transition to "retirement"
Then I started comparing my savings to my expenses and realized I could survive for years if I lost my job. The fear stopped.
Then I discovered ERE and I realized my expenses could go far lower. Curiosity drove an attempt to see how little I could spend and still be satisfied.
Now, I'm mostly driven by hope that I can achieve an appropriate SWR and transition to "retirement"
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sarasuperid
- Posts: 14
- Joined: Mon Aug 06, 2012 8:34 pm