FIRE makes no sense.

Retire earlier, then do what? Eat and sleep? FIRE is about saving and sacrificing like shit, and then what?

It makes more sense to find something sustainable to do over your working life, rather than make monetary achievements and earlier retirement the objective.

Don't go for these bullshit acronyms just like that.

Aiya, so childish.

More time to yourself to do what? Eat and sleep, and just generally waste your life away?

So why is Early Retirement THE objective?

Why force yourself, and get stressed about achieving RETIREMENT funds, so that you can do nothing after that?

Why not pace yourself before and after, and spread out the stress?

Aiyo, you missed the point.

Of course everybody wants to achieve FI. So that is not the point.

My point is there is a cost. You need to make sacrifices. You either make sacrifices earlier, or you spread it out.

You are assuming the earlier sacrifices is best for other people. That's a naive assumption.

Who said anything about 12h+?

My post was making the point about "balance". I guess you are too inflexible to understand what "balance" means

Sorry, my bad

Good luck with your journey. It is not easy but it is not impossible.

I believe in order to keep us in-line, we need to have a clear current financial status and target (monthly/annually) that we want to achieve.

Mind to share (in %) what's your current expenses?

Still don't understand?

My point was don't get flat out to achieve "retirement" as in FIRE, so you can do gardening after "retirement".

Have some balance. You don't undertand still, I cannot provide any more enlightenment.

I was simply saying that there is no clear line before/after that you need to achieve as far as retirement is concerned.

You need to consider what before/after factors are relevant to your way of thinking, and your personal circumstances.

But I would suggest that if you are working 12h+/day, you need to get higher paying jobs which includes getting degrees/diplomas/certificates. With PTPTN, you can get loans and qualifications.

Spend more time on getting a qualification, and less time on forums.

If you consider the average house price, as well as the number of Mercedes, BMW, Camry, Accords around, and 20k earners, you can see the 3% is too low.

Got a link?

"FIRE" is a scam ! Sorry to burst the bubble for those young ones who posted here....

It's a scam devised by the elderly, society, parents, bosses, including MLM/insurance etc (collectively known as "beneficiaries") so that the beneficiaries can motivate young people to work hard for them

It's a carrot that looks sweet, but eventually if you get it, it is just a normal plain old carrot.

The whole FIRE concept is wrong in the first place. It assumes "work life is shit, and retirement is heaven". For those young people who suffer much while working, it fits perfectly into their true experience. But no, the assumption is not correct.

Have you considered that to be in the heaven, you not only require financial freedom ? To be able to just live day-to-day plain survival life, you will not enjoy life. Meaning if you just watch TV, surf internet, gardening, exercise, (and all those activities that cost very little) which you thought is stress free and enjoyable life, then you will find out soon human beings are species which will get bored easily. Human needs more than food to live happily. Human is also greedy so living with minimum necessity will not make him/her happy.

In other words, human needs a lot of other stuff besides money to be happy. Love, sense of success, recognition, health, to be the best in the field, seeing people around you to be successful and happy......etc etc depending on individuals

Come back to the assumption that "work life is shit, retirement is heaven". If you feel that work is shit, then you are just pushing the blame to the boss. The core problem is not with the work, but your attitude ! The fact is you cannot face stress in your life. Who told you making money and work is easy in the first place ? They are not ! So, if you change your attitude that work is not easy and you have to deal with problems everyday, eventually you will get used to the stress, and work is no more shit. Work and problems are normal phenomenon which happens everyday. You should be happy there are problems for you to solve. Otherwise, you are redundant and have no job !

If there is no problem for one day, that is just a bonus, but entitlement.

If you can get your perspective right, then you will look at the problem as a challenge. If you can overcome any challenge in life, then nothing will make you unhappy.

I don't expect young people to understand and appreciate what I said. Because when I was young, I think like all of you too. But as you experience life when it unfolds, both extreme happy and sad events, you will reach a stage that everyday is a blessing to you. Work or retire has no difference anymore. No more mood difference be it a Monday or Friday. Work is just a small part of your life. There are many more important stuff.

So, don't be influenced by the FIRE concept. It tells you life is a drink which tastes bitter first, sweet later. Is the drink taste all the same for everybody ? Most probably not. What if you find out your drink also taste bitter later ? It will be too late.

If you can ditch the FIRE concept, change your attitude towards life, then you actually start enjoying a nice drink (with all taste of life) for the remaining 50-70 years...

It is only logical that only a small % of population can achieve FIRE, especially early FIRE. Otherwise, there won't be enough rats running in the treadmill to generate power to sustain the whole society. So, how to become the minority? To do what the majority can't or won't do. Spending is easy. Saving is hard. So, u must do the opposite. Savings is earnings less spending. Do your best to climb up the laddder to increase earnings. Then, while earnings increase, do not increase spending like most people do. Maintain spending, increase savings. Invest the savings. That's it.

Many aim to achieve FIRE before age 40. Close to impossible unless u live like a monk after that. Why quit when earnings is at its highest? Delay to about 45 to 50 at least would be good. Meantime, I know it sounds contradictory, but u dun want to live like a peasant now. Whatever people enjoy now, u also go for it but less frequently. It's a fine line.. because spending begets more spending. This is where discipline comes in. Otherwise, life is too dull. Why sit at home when u r most youthful. Go for those low expense activities. "You dun want to save up sex for when u r old."..Warran Buffett.

I agreed on FI, but not RE.

FI is a good goal to set upon, so that one can escape the rat race.

RE - it sounds glamour for younger generation.

Why it sounds glamour? Because we (or majority youngster) are in rat race, need to work long hours, little time and money to pursuit personal interest due to work commitment etc.
But once you get older enough and accumulate decent wealth aka FI, then the mindset might be change completely.

It is just like 20~30 years ago, eating outside like having dinner at fast food chain, seems like luxury, sound glamour, many people/kids are happy can get a meal at there.

But 30 years later, when majority people earning power increased, then taking fast food everyday is seemed become a non-healthy life by some.

So the view can change, so does on the RE issue.

So work on FI, and forget about RE.

You can't be RE when you don't have FI. Only think on RE when the time arrived.
Personally, I think RE is a bad concept to be introduced especially to youngster. More often I see RE being used/exploited in marketing tool to lure people into something vested interest purpose only.

More effort should be on FI, how to work towards it.

My main point is not about nutritional food, YOLO, business people hates a miser.... etc

I'll explain again. My point is very simple :

1. FIRE concept implies that work is shit. That's why you strive for financial freedom and retirement early (ie don't need to work)
2. If work is not shit, but an enjoyable adventure you do everyday, then the FIRE concept is not needed anymore

Agree ?

To give you an analogy :

3. Those who believe in FIRE is similar to treating their job as a prostitute.
4. They feel that they get fxxked everyday in the job to make money
5. That's why they want to end their working life as early as possible

My point is :

6. If you treat your job as a gigolo instead, your job is instead fxxk other people and get paid
7. You help solve other people's problem by satisfying them
8. And you get paid along the way

Of course, it is just an analogy (I am assuming being fxxked is bad, and fxxk other people is good. This may not be true in real life)
Yes. It is hard to swallow, but the fact is those who believe in FIRE concept deep down is thinking they are "prostitute". They can't wait to retire.

The challenge is how to turn it around and become a "gigolo" instead

If your everyday work is to orgasm, your client/boss treat you like a god and get paid at the same time, who want to retire ?

You are looking everything from your own tunnel of vision, and assuming the world is as what you see

From my experience of almost 40 years of working life, I have encountered many types of colleague, staff, bosses...from high level to low level.

There are a very wide spread of characters and their approach towards their job.

Some are really passionate about what they do. While some characters are hopeless. They are unhappy no matter what they do

Proactive, pragmatic, positive, hardworking, easy going, responsible, strong leadership are some common characters which make a person a happy worker who can excel in their career. These are the "gigolo" type of workers
From day 1 I have already mentioned this to you in stock market forum :

Wealth is not accumulated through cost savings. It is accumulated through how you expand your income

Cost saving can only allow you to reach a certain level. To go beyond that, you must know how to make money

Bnm report on kv property is unaffordable to most , epf statistics on income, elevated household debt is fake news.

good you have let me sink bottom to depression

i am in early 20s, still in uni and haven't even join the workforce yet and already start reading this full of boasting thread

damn working towards fi look tough for me t.t

Just curious on the following 2 points:-

1. What is the true definition of FI? Able to sustain even without active income?
2. If RE like 40yo, won't be too boring doing nothing? Because with no active income it is hard to travel or "enjoy" every now and then and more like living a savvy lifestyle and only can afford once or twice trips a year

Again, just curious

FI if single I think it is possible with determination to save and invest. But if with wife and kids...

I think if RE one thing we can do is live a healthy life, eat breakfast, lunch before 1pm, dinner before 6pm and sleep early. Of course no work stress and unrealistic expectations

Hello. I'm 22. I do not have much knowledge on FIRE. I saw some replies on FIRE but I have no idea, can someone briefly explain to me? I would really appreciate that!

Once the wages goes up the lifestyle follows, thats probably the same with almost everyone.

Some ppl want to work. Rather than have to work.

There is no free lunch, if one wants to have a lavish lifestyle needs to find income to sustain, dreading to work is a price to pay. If he find work is too heavy to bare, he will cut back, similarly for lifestyle. Similarly, if one choose to retire early, need to live frugally and save early and save more.

If one intended to retire at older age, amount of saving needed is less.

Whether to live a fulfilled or frugal life is subjective e.g what is a point to live like a monk til 100 y.o?