by In the FIRE (Financial Independence, Retire Early) community, we often discuss money. To outsiders, this might seem like an obsession, but it’s far from the truth. Financial independence isn’t about hoarding wealth; it’s about reclaiming time. Every dollar saved is a moment liberated from the office grind. Every investment secures our future, freeing us from financial anxiety.
But why is this so crucial? With our limited time on Earth, we yearn to focus on what truly matters.
1. The Stark Reality of Mortality
Death is an inevitability we all face, yet its timing remains a mystery. When news of a coworker’s passing reaches me, it’s a sobering reminder of our mortality. It prompts me to reflect: Are we living our best lives?
Consider what you might regret if today were your last. If that list grows long, it’s time to reassess your priorities.
None of us want to die before retirement, yet not everyone takes action to prevent this outcome. These reminders underscore the urgency of our FIRE goals. When we reach our financial target, we must seize the opportunity because tomorrow isn’t guaranteed.
Don’t postpone joy or expressions of love. Break free from unfulfilling routines. Let’s strive to ensure that when our time comes, it doesn’t find us living a mediocre existence in a corporate setting.
2. The Unpredictability of Health
Perhaps even more unsettling than death is the prospect of sudden illness or disease. It’s heart-wrenching to witness colleagues battle health issues, especially when they’ve maintained healthy lifestyles. This harsh reality reminds us that illness doesn’t discriminate.
While we prioritize our health at home, a touch of fear about the unknown keeps us vigilant. It encourages us to question:
- Are we savoring life to its fullest?
- Are we embarking on adventures and explorations?
- Are we dedicating our prime years to ourselves?
When we share our early retirement plans, a common concern is: “What if you get sick?” Ironically, early retirement offers several advantages in facing health challenges:
- We’ll maintain health insurance post-retirement.
- We can focus on recovery without work-related stress.
- Job security becomes a non-issue.
- Our Freedom Fund provides financial stability.
- The healthy partner has flexibility for additional income if needed.
In essence, facing illness while financially independent is far preferable to being sick and employed.
3. The Perils of Professional Burnout
Observing colleagues work themselves to exhaustion saddens me. Sacrificing personal time for career advancement often comes at too high a cost. I’ve experienced burnout as an entrepreneur, and it’s not an experience I’d recommend.
I’ve established an unspoken agreement with my workplace: I’ll contribute my best efforts, innovate, and provide value, and in return, I expect fair compensation and flexibility. I don’t need long-term career plans because our 2020 retirement goal is on the horizon.
We believe peak performance doesn’t require excessive hours. The outdated notion of working to the point of burnout serves as another reminder to review our FIRE plans.
Even beyond work, I’m streamlining my life to maximize time for living. We can easily complicate our lives with poor choices, including associating with the wrong people. That’s why I’ve become more protective of my time—its scarcity is all too real.
Creating Our “Wow Moment”
Many people reach their deathbeds wishing not for more money or completed projects, but for more time. I don’t want this realization to come too late.
On my deathbed, surrounded by loved ones, I hope to echo Steve Jobs’ last words: “OH WOW. OH WOW. OH WOW.” This should be the culmination of a life well-lived, not a life of regrets.
All of these reasons are actually why I chose to slow down the march to FI (though I still hope to get there at ~45). I cut my hours down to 80% time originally just to spend time with my young son before he starts school, but now that I’m here, I don’t expect to ramp back up once he does. I’ve found there’s so much living NOW by having more hours in my day (and since I have a small child, not working at all wouldn’t be “not working” because, well, toddler).
You have the right mindset when it comes to FI. It’s definitely not a race and you must be able to enjoy the journey. It’s great that you were able to cut down your hours and the beauty of it is that when you’re on the FI path you’re not doing mindless spending, so less income doesn’t equate to a lower quality of life. And what better way to spend that time than raising your child? 🙂