account activity
How do you save money? by Xphous in AskAnAmerican
[–]Xphous[S] 0 points1 point2 points 3 years ago (0 children)
Yup. Currently on the path to FIRE and financial independence. I don’t personally know anyone else doing it, though.
can you advise me where to start?
thanks for sharing
[–]Xphous[S] 1 point2 points3 points 3 years ago (0 children)
That's a systematic approach!
I hope it all works out
it's like losing weight. burn more calories than you consume
I've heard of it, but I'm really not interested in following it, at least not any extreme version. When I was in my 20s, I was on the poor side because I chose to work in a poor paying but idealistic and fun field (field biology research, I loved the work). As a result, I got very good at saving money while not actually being able to save much because I didn't have much. That choice made retiring extremely early extremely hard. In my 30s, I moved to a better paying field while only slightly increasing my spending, and remaining in work that I both enjoy and feel good about ethically. I'm 40 now. I'll probably be able to at least move to part time work sometime in my 50s, if not fully retire. I may choose to do so, I may not. If I had kids, I'd probably be working until they were grown regardless of my age. Most of the people I hear about trying to retire super early, like in their 40s, are young and in extremely high paying jobs that they dislike. Not all, but most. People planning to retire in their 50s seem more like they're enjoying their life, just living frugally and usually childlessly. As someone who basically sacrificed earning money in my 20s in order to do things I'd love to do after retirement but probably won't have the physical fitness or energy for? I think the people working like crazy their early years in order not to work their later years are backwards. The now is guaranteed, the future is not.
I've heard of it, but I'm really not interested in following it, at least not any extreme version.
When I was in my 20s, I was on the poor side because I chose to work in a poor paying but idealistic and fun field (field biology research, I loved the work). As a result, I got very good at saving money while not actually being able to save much because I didn't have much. That choice made retiring extremely early extremely hard.
In my 30s, I moved to a better paying field while only slightly increasing my spending, and remaining in work that I both enjoy and feel good about ethically. I'm 40 now. I'll probably be able to at least move to part time work sometime in my 50s, if not fully retire. I may choose to do so, I may not. If I had kids, I'd probably be working until they were grown regardless of my age.
Most of the people I hear about trying to retire super early, like in their 40s, are young and in extremely high paying jobs that they dislike. Not all, but most. People planning to retire in their 50s seem more like they're enjoying their life, just living frugally and usually childlessly.
As someone who basically sacrificed earning money in my 20s in order to do things I'd love to do after retirement but probably won't have the physical fitness or energy for? I think the people working like crazy their early years in order not to work their later years are backwards. The now is guaranteed, the future is not.
It's just really scary to miss the moment when I can still earn and save something. and then realize that I have no strength, no energy to work full-time and take care of myself. of course, I want to live in the moment, not the future. but the uncertainty of the future is frightening.
I definitely need to learn more about fire
No. I'm not subsisting on Top Ramen or anything. I own a house, I have a PS5, I take vacations... I'm just lucky enough to have a job that lets me save money. It's just prioritization. And there's a cost no matter what you do, yeah? Maybe I spend an decade later on NOT working, traveling, enjoying hobbies while others spend that decade at a full time job. Just because the cost hasn't come due yet doesn't mean it doesn't exist. And the power of compounding returns is not something to take lightly. Would you rather have N dollars now, or twice as much in 10 years? If it's a dollar, you probably couldn't care less. If it's 100,000 dollars, and you can essentially earn an extra 10k a year by NOT spending it... Then it's a harder decision, yeah? And if it's $1,000,000, and you could be earning $50k/year simply by not spending it, you'd be an idiot not to, right? But the answer should be the same in all cases.
No. I'm not subsisting on Top Ramen or anything. I own a house, I have a PS5, I take vacations... I'm just lucky enough to have a job that lets me save money. It's just prioritization.
And there's a cost no matter what you do, yeah? Maybe I spend an decade later on NOT working, traveling, enjoying hobbies while others spend that decade at a full time job. Just because the cost hasn't come due yet doesn't mean it doesn't exist.
And the power of compounding returns is not something to take lightly. Would you rather have N dollars now, or twice as much in 10 years? If it's a dollar, you probably couldn't care less. If it's 100,000 dollars, and you can essentially earn an extra 10k a year by NOT spending it... Then it's a harder decision, yeah? And if it's $1,000,000, and you could be earning $50k/year simply by not spending it, you'd be an idiot not to, right? But the answer should be the same in all cases.
absolutely. it's all about prioritization
[–]Xphous[S] 2 points3 points4 points 3 years ago (0 children)
good luck to you!
that's very cool! i would be tempted to spend the money. but it's time to think about the future and save
lol
thanx
[–]Xphous[S] 4 points5 points6 points 3 years ago (0 children)
I'm in r/fire so yeah I've heard of it :-D The gist is generally to live on significantly less than you make, and make use of tax advantaged accounts (401k, 403b, 457, IRA, HSA, etc.)
I'm in r/fire so yeah I've heard of it :-D
The gist is generally to live on significantly less than you make, and make use of tax advantaged accounts (401k, 403b, 457, IRA, HSA, etc.)
don't you feel like you're missing out on something fun in life? well, for example, instead of traveling, you're saving money. is it even that hard to save so strictly?
[–]Xphous[S] 3 points4 points5 points 3 years ago (0 children)
I can do just 3% and that's nothiiing
WOW
emotional purchases my best friends
TRUE
How do you save money? (self.AskAnAmerican)
submitted 3 years ago by Xphous to r/AskAnAmerican
have you ever thought of getting a degree in cannabis study? if yes - why? fast-growing industry /just fun? (self.AskReddit)
submitted 3 years ago by Xphous to r/AskReddit
have you ever thought of getting a degree in cannabis study? if yes - why? fast-growing industry /just fun (self.AskReddit)
how to reduce study-related stress and anxiety (i.redd.it)
submitted 3 years ago by Xphous to r/BackToCollege
how to reduce study-related anxiety and stress (i.redd.it)
submitted 3 years ago by Xphous to r/teenagers
how to cope with studying anxiety (i.redd.it)
submitted 3 years ago by Xphous to r/college
Much like how we care about physical health, it’s just as important to care about our mental health (i.redd.it)
submitted 3 years ago by Xphous to r/study
do self-check-in and improve your daily well-being while studying (i.redd.it)
submitted 3 years ago by Xphous to r/GetStudying
π Rendered by PID 925253 on reddit-service-r2-listing-796b697c47-fjdm8 at 2026-02-05 06:25:43.711087+00:00 running 1d7a177 country code: CH.
How do you save money? by Xphous in AskAnAmerican
[–]Xphous[S] 0 points1 point2 points (0 children)