Has anyone else realized that five years is an unbearably long time?
When I started reading about ERE it seemed awesome but now I'm like: "Dammit, this is taking a long ass time"
Are there any psychological tricks to dealing with having to wait so long? My real worry is that I'll get bored, lose my diligence, and accidentally spend a bunch of money on something...
This also really makes me wonder how "normal" people don't just go completely insane at the prospect of working for like thirty years. Holy FSM, the thought gives me chills...
Five years... Wait, how long??
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jacob
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Lots of thinking about passive income. Calculate it in any way you can. Also think about what you could buy rather than buying it. Like this.
It beats praying to the FSM
Normal people don't have as many issues with fitting in for 30 years. I talked more about normals in this post. By normal I mean that in a strictly statistical sense---the norm being the most represented group---in my opinion, they're nuts
It beats praying to the FSM
Normal people don't have as many issues with fitting in for 30 years. I talked more about normals in this post. By normal I mean that in a strictly statistical sense---the norm being the most represented group---in my opinion, they're nuts
Sometimes it feels like a long time.
I rationalize it as a few changes that I won't notice. I actually enjoy my cheaper rent apartment more. And, I usually put less than 6000 miles per year on my car. Actually, I am a terrible driver and dread do it. Now I am planning to bum rides to trail runs where I can talk on the way to and fro.
I'm on a reading kick now, which is free for the most part (mainly library books). I worry a little for putting a lot more energy into that hobby and potentially burning out for a lapse. I'm thinking about walking in the evening and weekends as another outlet. I started swinging in the park after I go to the library. That's 20 minutes of fun for me.
I rationalize it as a few changes that I won't notice. I actually enjoy my cheaper rent apartment more. And, I usually put less than 6000 miles per year on my car. Actually, I am a terrible driver and dread do it. Now I am planning to bum rides to trail runs where I can talk on the way to and fro.
I'm on a reading kick now, which is free for the most part (mainly library books). I worry a little for putting a lot more energy into that hobby and potentially burning out for a lapse. I'm thinking about walking in the evening and weekends as another outlet. I started swinging in the park after I go to the library. That's 20 minutes of fun for me.
I made a multi-year calendar with really small boxes containing days expended/days remaining whose only purpose is to be crossed off each day after a moment's reflection as a reminder that I am one step closer. It's sort of like the guy in prison who makes a chalk mark on the cell wall in the countdown to freedom.
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RightClawSouth
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@Jacob - yeah, it's less about the desire to buy things and more about dealing with working a job for those five years (I'm in the process of immigrating to the US and so have virtually no flexibility with my work situation). I think if I were able to change jobs I'd be able to find a job that didn't drive me crazy. Actually, maybe it's a benefit, if I liked a new job (at least initially), I'd maybe be less careful with my spending...
@rePete: My biggest danger isn't that I'll get an expensive apartment or do any one thing that would impact my finances, it's that I'll get lax about eating and start eating out more or skiing or traveling more... Those are my ERE vices that I need to be careful with...
@rePete: My biggest danger isn't that I'll get an expensive apartment or do any one thing that would impact my finances, it's that I'll get lax about eating and start eating out more or skiing or traveling more... Those are my ERE vices that I need to be careful with...
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RightClawSouth
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@ RightClaw LOL. I am still in my transition period (financial, psychological) to an ERE-aimed lifestyle, and I agree with your sentiment completely. It's motivating me to do my best to shrink the five years to 3.5-4, but also to make sure I'm having fun here and now.
Fun here and now for me: Tennis, good food, good friends, good films, a little bit of piano here and there. Fantasizing about post-ERE helps too, but I suppose too much of that could be bad.
Fun here and now for me: Tennis, good food, good friends, good films, a little bit of piano here and there. Fantasizing about post-ERE helps too, but I suppose too much of that could be bad.
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jacob
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@RightClawSouth - I was in a similar situation. Ahh to be an underpaid immigrant worker with no possibility of changing one's job and little possibility of going back, it almost sounds like ... anyway.
Fortunately, there are no laws against investing the money in various ways and spending a lot of time that way. That's what I did. You can also work on projects that are easy to turn into a business once you do get residency.
Fortunately, there are no laws against investing the money in various ways and spending a lot of time that way. That's what I did. You can also work on projects that are easy to turn into a business once you do get residency.
@RightClawSouth - It's difficult, trust me, I'm right there with you right now. I do a modified version of what Maus does. I sit down 2-3 times a month and recalculate everything, projecting where I'll be in 5 years, 7 years, and even 10 years (if I work that long). That keeps me motivated and working toward ERE. I also have a timeline that I've sketched out and continually readjust as needed. The main thing is to just go to work, do your job, and remember it's getting you to where you want to be. You have to make it a game for yourself, but don't get caught up in competing with everyone else or you lose the game. It helps me to think there's a finite amount of time I'm stuck in some pathetic excuse for a "job" that everyone pretends to care about. If anything, it should keep you motivated to save, save, save. The horizon is near, my friend.
Progress really motivates me... $100 is no big deal, but when you secure $100/mo in passive income that's a huge deal! Also, cutting expenses excites me. Got to attack those monthly expenses!
It's about the journey, not just the destination. You have to live it and get skilled. A regular consumer minded person probably wouldn't be able to successfully navigate the ER landscape. But for us, people who practiced and honed our skills for years, it will be easy!
If I could go back in time, I'd tell myself to be 10-20% less extreme and try to keep myself positive. Also, focus more on finding higher returns and opportunities than a networth number or a date on the calendar.
It's about the journey, not just the destination. You have to live it and get skilled. A regular consumer minded person probably wouldn't be able to successfully navigate the ER landscape. But for us, people who practiced and honed our skills for years, it will be easy!
If I could go back in time, I'd tell myself to be 10-20% less extreme and try to keep myself positive. Also, focus more on finding higher returns and opportunities than a networth number or a date on the calendar.
I use various programs and websites to monitor my progress and check the numbers a few times each week.
Seeing the positive movement is really a great motivator for me. Perhaps some of that is that I get paid at least 3 times per month, and then money hits the retirement accounts 2 times per month in a staggered fashion. So, every few days something good has happened.
Seeing the positive movement is really a great motivator for me. Perhaps some of that is that I get paid at least 3 times per month, and then money hits the retirement accounts 2 times per month in a staggered fashion. So, every few days something good has happened.
5 years...it's bad, but not too bad if you don't spend all your time obsessing on the slavery:)
I wish I had focused on minimal living right out of college so I could have been done by now!
It's kind of like talking prison sentences:
How long do you have? 5 years...how about you? Maybe two if I can get early parole through good behavior.
I wish I had focused on minimal living right out of college so I could have been done by now!
It's kind of like talking prison sentences:
How long do you have? 5 years...how about you? Maybe two if I can get early parole through good behavior.
I have now lived 13 of these five year time periods.
I usually think of my life in ten year increments or decades.
Let me tell you that five years is a heartbeat. Not when your 30, but when your 65. Savor every minute of your five years, Then savor every minute of the rest of your five year increments. Don't waste a second of your life being bored or tied up in thinking about time. Every minute you experience is a minute you no longer have left.
I usually think of my life in ten year increments or decades.
Let me tell you that five years is a heartbeat. Not when your 30, but when your 65. Savor every minute of your five years, Then savor every minute of the rest of your five year increments. Don't waste a second of your life being bored or tied up in thinking about time. Every minute you experience is a minute you no longer have left.
It goes by fast
About 7 years ago, I had a 401k but only about $4 a month in cash flow. It looked really intimidating to hit a goal of $9000 a year in cash flow that I had at that time. Once I started focusing on this goal though, the time flew by. It only took a few years to hit that goal, and once I knew I could quit my job I actually started to take more risks at work (you can tell the boss he is whacked) and it made me more valuable so my pay went up and I started enjoying my work and life in general more
Those 7 years have flown by shockingly fast. I do my best to follow HSpencer's sage advice and savor every minute of time I have
About 7 years ago, I had a 401k but only about $4 a month in cash flow. It looked really intimidating to hit a goal of $9000 a year in cash flow that I had at that time. Once I started focusing on this goal though, the time flew by. It only took a few years to hit that goal, and once I knew I could quit my job I actually started to take more risks at work (you can tell the boss he is whacked) and it made me more valuable so my pay went up and I started enjoying my work and life in general more
Those 7 years have flown by shockingly fast. I do my best to follow HSpencer's sage advice and savor every minute of time I have
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George the original one
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It starts at five years and then it'll be four years and then three and then two...
I'm not going to be ERE since I'm too old and have a different schedule and constraints, but... my 5 year plan is to be able to pay off the mortgage. That was last December and now it's already a 4 year plan due to good capital gains this year above & beyond the dividends.
Plus, once you reach $50k-$70k in your taxable accounts, magical things start happening.
I'm not going to be ERE since I'm too old and have a different schedule and constraints, but... my 5 year plan is to be able to pay off the mortgage. That was last December and now it's already a 4 year plan due to good capital gains this year above & beyond the dividends.
Plus, once you reach $50k-$70k in your taxable accounts, magical things start happening.
I'm with the OP. 5 years is too long. Lets brainstorm on ways to make it faster:
1. Don't pay taxes! 30% year over year increase in invested income.
Downside - you have to retire in Mexico or somewhere that is non-extradition happy, oooorrrrr... you get an all-inclusive 5 year stint with free food, housing, and no transportation problems. You don't need even need a bike!
2. Borrow the money you need for ERE in week 1 of your 5 year plan. Then, retire! Don't worry, your grandkids can pay later.
3. Print money. Seriously, why do you need to actually "earn it". Its just paper??
4. Once you have *any* money, loanshark it out. The interest on that shit is awesome... 50%+. Also none of that regulation crap. You can charge that 50% per day if you are in a bad mood.
1. Don't pay taxes! 30% year over year increase in invested income.
Downside - you have to retire in Mexico or somewhere that is non-extradition happy, oooorrrrr... you get an all-inclusive 5 year stint with free food, housing, and no transportation problems. You don't need even need a bike!
2. Borrow the money you need for ERE in week 1 of your 5 year plan. Then, retire! Don't worry, your grandkids can pay later.
3. Print money. Seriously, why do you need to actually "earn it". Its just paper??
4. Once you have *any* money, loanshark it out. The interest on that shit is awesome... 50%+. Also none of that regulation crap. You can charge that 50% per day if you are in a bad mood.
Actually I can think of some non-jokey ways to shorten the timeframe:
Cost side -
...Geoarbitrage, lower costs even further
Income side -
... be extremely mercenary about jobs. Follow the money. Always be looking for a new job that pays more.
... work more than one job. Wedding singer?
... look for high-paying ex-pat jobs in danger zones.
... start your own business. Risky, but upside is way higher
... start your own contracting business. Risky, but upside is way higher
Cost side -
...Geoarbitrage, lower costs even further
Income side -
... be extremely mercenary about jobs. Follow the money. Always be looking for a new job that pays more.
... work more than one job. Wedding singer?
... look for high-paying ex-pat jobs in danger zones.
... start your own business. Risky, but upside is way higher
... start your own contracting business. Risky, but upside is way higher