Does FIRE (Financial Independence, Retire Early) work?
If so, what's a realistic way to pull it off? I already have a full-time job, but idk what to do with extra money. I've just been dumping it into VTI (reddit investment recommendation) and it seems I won't retire before my 50s (I'm late 20s right now). Not sure if I should go riskier with dca-ing to Bitcoin instead or something. I'm already trying to maximize my income and keep my expenses really low.

What value do you think you want to hit before you call it quits, and what's your current salary?

>>33283906
Ideally would hit $1.2M in today's money. Maybe less if i were to buy a home, but I haven't decided if I want one more than just quitting work. Picrel is every level of rich I'd want, but honestly, I'd probably be fine in the lower end. Likely living in a 1st world country, but somewhere low-cost, like I currently am.
Current salary is $110k.

>>33283996
Are you sure that's enough? It isn't taking inflation into account.

>Paid off all my debts
>Have a house
>Stable job
>Bought all the stuff I wanted

ok,now what?

>>33284004
I'd have it all in index funds to protect from inflation, since they outperform long term. Getting to 1.2m is just the though part. I'm at 140k after 6 years of working full time and living in the cheapest apartment possible.
>>33284009
get a big enough investment portfolio so you don't need a stable job ever again

>>33284009
Oh that is so easy, get some random bitch who lies about loving you for just long enough to justify the lawyers or state taking half or more of all that from you.

>>33284106
Nah, I pretty much put any and all dating aside. I;ve had way too many second hand experiences of women fucking my family and friends over for next to no reason. There's way too much to lose and not enough to gain by getting together with someone.

>>33284132
This is the smartest goddamn thing I have heard all week.

>>33283996
You've put more thought into this than most people, but consider that stopping your incoming stream prevents you from potentially pursuing things you value in the future.

If you're feeling burnt out take a sabbatical or go on fake FLMA leave for mental health or whatever, come back recalibrated and only work as hard as you want while stacking bills.

>>33284255
Hmm, idk. I just want more time to work on creative projects. I dedicate my weekends to it and it would be nice doing it all week. I don't really care for stuff, so time freedom is all I really want. So far, practicing paper trading to see if I can outperform sp500. Ideally I'd just make enough to play it really safe and pay the bills with a lot of free time to do anything else. Maybe that's the closest compromise I can hit.

>>33284319
What my brother did was work full time for years until he had enough of a reserve that made him feel safe, then he quit and picked up a part time job that pays for his day to day bills so his savings are fine. This left him with a lot of time he dedicated to learning 3D modeling as a hobby.

>>33283996

FIRE works. Looks like you're on track if your expenses stay low, pretty good savings rate. Renting and buying can both work, I'm happy renting forever but I've met other FIRE folks who've bought.

VTI has been good to me, would recommend. Be careful with things like Bitcoin and "outperform sp500" - this is a long game, be patient. Even if those risky investments pay off, long-term they'll need more time and attention and worry than hoarding more VTI. If you want to get out faster, cut expenses instead. Good luck

>>33284348
Im doing this right now. Just no savings cuz shitty wages.