Thank you for continuing to share your writing and who you are with the world. It matters and I am thankful. I followed the podcast that you recommended and resonated with this quote, " I hope this helps me maintain the illusion that I can control the future :D." Keep on, keeping on Allen. I am cheering you and your family on!
Great post as usual, Allen. I'm right there with you in having FIRE'd (you and I are about the same age and FIRE'd around the same time) but finding it difficult to spend freely and joyfully so long as within the budget. Especially on the discretionary. In this, I know were far from unusual in the FIRE community. But still. I've thought a lot about Trautman's fun bucket since learning about it a while back. I'm getting close to the point where just suck it up and do it. If you ever post about your success (hopefully!) with it, I'll be an eager reader of the recap.
Thanks for reading! I could probably do a whole new post on how tough early innings retirement, psychologically, can be and the different bad mental frames we fall into.
You made me laugh with this one! I, too, was a grasshopper (not an ant) during my early working years and didn’t start seriously saving until I had my first 6-figure job when I was 48. Then I maxed out my 401K AND, since I was the “boss,” set up 5% match for all employees for 20 years before I quit. Timing is everything—this meant I had enough. Not a lot, but now, coupled with Social Security, enough to last us another 20 years. My “fun bucket,” is called Travel. Our core expenses run around $60K a year and I have budgeted between $20-$60K annually for Travel. (We are full-time travelers who own no real estate whatsoever). I am budget conscious but not budget driven. And I definitely don’t have a problem spending the money I worked so hard to save!
Oh I cannot wait for our travel phase! Slow travel + $60K to live on... sign me up. Congratulations! I love the mindset - "budget conscious but not budget driven"
Thank you for continuing to share your writing and who you are with the world. It matters and I am thankful. I followed the podcast that you recommended and resonated with this quote, " I hope this helps me maintain the illusion that I can control the future :D." Keep on, keeping on Allen. I am cheering you and your family on!
Thanks Ashley - I really recommend his conversation with Jimmy Carr - wide array of topics in that one
Another good read, Allen. I can be too cheap sometimes—this was good for me to contemplate as I read your thoughts on spending. Thanks!
Great post as usual, Allen. I'm right there with you in having FIRE'd (you and I are about the same age and FIRE'd around the same time) but finding it difficult to spend freely and joyfully so long as within the budget. Especially on the discretionary. In this, I know were far from unusual in the FIRE community. But still. I've thought a lot about Trautman's fun bucket since learning about it a while back. I'm getting close to the point where just suck it up and do it. If you ever post about your success (hopefully!) with it, I'll be an eager reader of the recap.
Thanks for reading! I could probably do a whole new post on how tough early innings retirement, psychologically, can be and the different bad mental frames we fall into.
You made me laugh with this one! I, too, was a grasshopper (not an ant) during my early working years and didn’t start seriously saving until I had my first 6-figure job when I was 48. Then I maxed out my 401K AND, since I was the “boss,” set up 5% match for all employees for 20 years before I quit. Timing is everything—this meant I had enough. Not a lot, but now, coupled with Social Security, enough to last us another 20 years. My “fun bucket,” is called Travel. Our core expenses run around $60K a year and I have budgeted between $20-$60K annually for Travel. (We are full-time travelers who own no real estate whatsoever). I am budget conscious but not budget driven. And I definitely don’t have a problem spending the money I worked so hard to save!
Oh I cannot wait for our travel phase! Slow travel + $60K to live on... sign me up. Congratulations! I love the mindset - "budget conscious but not budget driven"
One thing I learned? You need less than you think. And don’t wait until your knees start going bad! Live Your Life. Live Your Life.