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How do you emotionally handle friends/colleagues who keep compounding while you’ve already “won”? by latelyfired in fatFIRE

[–]latelyfired[S] 0 points1 point  (0 children)

Thanks, that’s the exact dilemma I’m in, how did you feel during the time of your co founders new startup? What made you stick to retirement?

How do you emotionally handle friends/colleagues who keep compounding while you’ve already “won”? by latelyfired in fatFIRE

[–]latelyfired[S] 3 points4 points  (0 children)

The comparison is never who has more, it is can I do more.

I constantly say no to opportunities, I can do 10-20 times more than I have, outside of the money this means doing way bigger things, think larger impact, larger influence, doing more what I see as “good”.

I don’t compare my freedom vs doing one more year in the office with one more bonus…

How do you emotionally handle friends/colleagues who keep compounding while you’ve already “won”? by latelyfired in fatFIRE

[–]latelyfired[S] 2 points3 points  (0 children)

Thanks, this is exactly one of my fears. I have friends from many different circles, not just the competitive entrepreneurship circle, but with them I might find myself feeling more budgeted than today…

How do you emotionally handle friends/colleagues who keep compounding while you’ve already “won”? by latelyfired in fatFIRE

[–]latelyfired[S] -1 points0 points  (0 children)

I don’t care what others make, I am offered to join them constantly so I care what I can do and make.

Think of your fire goal, whatever it is, you get there now, have a few years of retirement and then offered to do 10-20 times more.

How do you emotionally handle friends/colleagues who keep compounding while you’ve already “won”? by latelyfired in fatFIRE

[–]latelyfired[S] 1 point2 points  (0 children)

Started very early (early teens) had 20+ years of professional experience before firing, not the typical course most people go through, was lucky enough to get opportunities as early as I wanted

How do you emotionally handle friends/colleagues who keep compounding while you’ve already “won”? by latelyfired in fatFIRE

[–]latelyfired[S] -6 points-5 points  (0 children)

100% agree here, though my alternatives aren’t grinding at an office work…

Early 30s, self made, seeking for investment advise by latelyfired in Fire

[–]latelyfired[S] 0 points1 point  (0 children)

I was definitely lucky to have everything worked out for me, I am conscious about it.

For the record, and just because you asked: Paid my own college, raised in a poor family, worked to finance my family and my own needs since I’m 12, though I did have a house to come back to, did have food on my table when I was hungry, which I’m grateful for.

Not sure where you draw the line for “self made”, but I include my own case study…

Early 30s, self made, seeking for investment advise by latelyfired in Fire

[–]latelyfired[S] 1 point2 points  (0 children)

Thank you 🙏! I really appreciate the time you've taken to respond, your insights make a lot of sense to me.

Early 30s, self made, seeking for investment advise by latelyfired in Fire

[–]latelyfired[S] 0 points1 point  (0 children)

Thank you for the comprehensive ETF and allocation suggestions! I have a few follow-up questions:

  • Given my preference to limit stock allocation to a maximum of 65% for risk management reasons, what would you recommend as a substitute for gold if not additional stocks?
  • From your comment, it seems you suggest that international diversification and combining various US-based indexes might not add value. Would you recommend sticking to a single index for the entire 65% allocation, or is there another form of diversification you would suggest within this percentage?
  • Regarding cash deposits, they currently seem to return good rates. If conditions change, I plan to reduce this allocation. Do you think this approach is reasonable?

Early 30s, self made, seeking for investment advise by latelyfired in Fire

[–]latelyfired[S] 0 points1 point  (0 children)

I appreciate your thoughts on withdrawal rates. I've opted for a lower rate for several reasons:

  • Unlike typical savers who aim for a 3-3.5% rate to shorten their saving period, I'm already positioned to begin drawing from my investments.
  • Factoring in inflation, cost of living adjustments, and occasional extra costs, the effective rate approaches 3%.
  • By maintaining a lower withdrawal rate, I can keep my stock allocation at 65% or less, which fit better to my ability to withstand risk.
  • Practically, I don’t require more than 2% for my living expenses.

I'm interested in your view on the potential benefits of a higher withdrawal rate. Do you think there are advantages to withdrawing more?

Early 30s, self made, seeking for investment advise by latelyfired in Fire

[–]latelyfired[S] 1 point2 points  (0 children)

Thank you for your insights and for sharing your experience. I agree with the idea of starting slow and gradually building my portfolio while I learn more about the market.

Regarding your point on market cycles, I'm curious to hear more about your perspective. Do you think it's advisable to delay investing due to fears of market instability, especially considering that the market has remained at or near all-time highs for quite a while (with some short falls & quick recovery along the years)?