Retiring at 51

Many who FIRE do community, charity, volunteer work to stay connected, have a sense of belonging and help others.
 
Is there any FIRE Irish website? Or maybe this is it? Good luck OP. Will you keep us updated? I would love to retire early so I’m very interested in how you go.
 
Early Riser said:
You're in "financial services"?
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He did say that a lot of the people in his business had been to jail. So, definitely not financial services, as we know, the crooks in that industry never go to chokey.
I love this idea of retiring early. I doubt it will be possible for me before 60, but good luck to anyone who manages it.
 
I think you should call yourself "semi-retired". Take 6-12 months away from working, do your nature hobbies and whatever else, then make a decision after that. If financial projections are still looking rosy and you're enjoying yourself, then FIRE away. If it seems you could do with some additional income, then consider looking at a part-time job in a less stressful area.
 
NiallSparky said:
I think you should call yourself "semi-retired". Take 6-12 months away from working, do your nature hobbies and whatever else, then make a decision after that. If financial projections are still looking rosy and you're enjoying yourself, then FIRE away. If it seems you could do with some additional income, then consider looking at a part-time job in a less stressful area.
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I thin this is where im headed.
Decided to take 1 year off and then if the money situation does not work out as I expect it to there is always Aldi :)
I think though once I get a taste for it i'll stay retired :) Ive enjoyed long periods ive spent off away from work immensely before.
Partly thats because I had the money to enjoy it and not to worry. I think our income and savings will actually have us better off retired than we were even at the start of this year. And I have always considered us to be very comfortable and want for nothing really.
We both grew up in very poor families and have always tried to stay debt free as much as possible and save. We both always sought out value and financial security and I think it has stood to us. Now we can finally take advantage of it.
I could always wait another 2 or 3 years and put another €100k in the bank as a buffer, but its like buying a new PC. It will always be better next year.
Time to just do it I think.
 
DeeKie said:
Is there any FIRE Irish website? Or maybe this is it? Good luck OP. Will you keep us updated? I would love to retire early so I’m very interested in how you go.
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There are a few FIRE websites. send me a PM, and I will talk to you.
 
The OP is not financially independent.

He will be largely supported by his wife's income until he can access his pension.

Nothing wrong with that but this is not a case of FIRE.
 
The reason I mentioned fire here, is that many in that community hate work and want to be free asap. Which seems to be where the op is.

But if you read their stories, some then decide to return to part time work or community for a sense of meaning or network or being connected
 
Sarenco said:
The OP is not financially independent.

He will be largely supported by his wife's income until he can access his pension.

Nothing wrong with that but this is not a case of FIRE.
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She is a rare person who loves her job. She doesnt want to retire yet, but we do want the option for her to be able to retire also in another 5 years or so, as her job is starting to fill up with bureaucracy and has taken a lot of the fun out of it already, and seems to be getting worse.
Should be doable I think.
 
I’m seeing more and more of this FIRE stuff being talked about. In my opinion, it’s a load of horse manure. Most people can retire early and live on Aldi baked beans. But why would you want to do that? Not that many people love their job, some like it, some tolerate it, some dislike it, and some detest it. But you just get on with it. When I read about this FIRE stuff, my read through is that a lot of the people have either failed in their careers, they just can’t handle work due to some underlying mental or physical issue, or they’re just lazy. But in the world we now live in where nearly everyone seems to think that they’re special and that they should have an Instagram life, punting this FIRE stuff is probably smart as any number of loonies will latch on to it. If “Financially Independent, Retire Early” means getting out to smell the roses at around age 60, I’m all for that, provided that the lifestyle I enjoy now can continue. But if it’s some waster who couldn’t hold down a decent job because of his nerves pointing at a flipchart and telling me how great Lidl baked beans and cheap holidays are, I’m out.
 
It's been trending up over the last decade. Read the history section here for more https://en.m.wikipedia.org/wiki/FIRE_movement

There are Lean FIRE and fat fire sub communities. That ranges from the lean folks stocking up on years of lidl baked beans when they are on special to the 'fat' folks sending their Butler to m&s to pick up beans for their toast.

I think the main motivation is not coming from personal failures, more about not having to be dependent on the man / job and being free.

Viewed from afar most of us are forced to work for most of our lives. Seems like a form of slavery, albeit with nice experiences and many choices.

Are you not yourself trying to become financial independent? With a view to retiring if you can?

I've personally had an interest in being financial independent and having the ability to choose to retire early from before fire was a thing.
 
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I think the idea of FIRE is not to retire early and struggle financially having to eat cheap food, as Gordon suggests.
The idea is to retire early and be financially free to live how you want within the limitations of whatever level of financial freedom one aspires to.
If FIRE is ones objective and its achieved then happy days and the sooner the better.
I can see how someone might infer that failed career etc is a factor but so what if it is. In any case its simply that one has had enough of working for the man amd wants freedom. If someone wants this does this mean they are lazy? Maybe... but again who cares? The end justifies the means.

Not wanting to be a slave to the man all your life does not make you a waster. If you can retire early having built up enough money to support you then youre hardly a waster, youre to be commended in my book.
 
Gordon Gekko said:
Not necessarily. Yes to being financially independent but no to retiring early.
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So how will you decide the age to retire? Based on what a politician decides is correct? When you can no longer bring value to your employer? When your employer no longer wants you?

Maybe when you (I) want i.e. FIRWIW
 
OMG_OMG said:
She is a rare person who loves her job. She doesnt want to retire yet, but we do want the option for her to be able to retire also in another 5 years or so, as her job is starting to fill up with bureaucracy and has taken a lot of the fun out of it already, and seems to be getting worse.
Should be doable I think.
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Are you sure she can retire in 5 years. I'm pre 95 and can't draw my pension until I'm 60.
 
SPC100 said:
So how will you decide the age to retire? Based on what a politician decides is correct? When you can no longer bring value to your employer? When your employer no longer wants you?

Maybe when you (I) want i.e. FIRWIW
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When I choose to.
 
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