{"id":3646,"date":"2020-10-07T23:46:42","date_gmt":"2020-10-08T05:46:42","guid":{"rendered":"https:\/\/modernfimily.com\/?p=3646"},"modified":"2020-12-09T23:16:07","modified_gmt":"2020-12-10T06:16:07","slug":"the-slow-transition-to-early-retirement","status":"publish","type":"post","link":"https:\/\/modernfimily.com\/the-slow-transition-to-early-retirement\/","title":{"rendered":"The Slow Transition to Early Retirement"},"content":{"rendered":"

When someone learns about our story and hears how a couple who averaged making around $100,000 in combined annual salary over the years went from $110,000 in combined student loans in their young 20s to millionaires within 9 years in their young 30s the last thing you are thinking is “ah they took the slow approach”.\u00a0 Instead, you are likely thinking we lived a very deprived life living off ramen and rice & beans (we didn’t).\u00a0 The key to doing what we did was discovering the mindset needed from the get go to learn that a happy life does not have to be expensive and there are many ways to enjoy life without spending your entire paycheck (aka finding that balance and not letting lifestyle creep in).<\/p>\n

Most people who are not yet introduced to FIRE could not imagine saving a majority of their income.\u00a0 And that’s totally fine.\u00a0 You don’t have to!\u00a0 We’re just showcasing an alternative to the typical work-spend-work-spend hamster wheel.\u00a0 The key is to figure out that sweet spot for yourself.\u00a0 There is no cookie cutter way to FI!<\/strong><\/p>\n

I truly do not think there is a direct correlation where you have to be a hard core FIRE freak saving 50+% of your income (aka a high savings rate) but also missing out on life (aka deprivation).\u00a0 You have to figure out what YOU value, spend your money there, and cut out the fluff elsewhere.\u00a0 This combination of taking the time to figure out the things you really do value and then cutting out the fluff is key.\u00a0 Gamify life.\u00a0 Find ways to maximize enjoyment while still saving your hard earned pennies.\u00a0 This can thus become an enjoyable experience as you see your net worth grow (which provides a very good feeling) while also enjoying life.\u00a0 It’s a double whammy, again, if you can figure it out.<\/p>\n

Some may have that ah-ha moment and go from saving nothing to saving 10%.\u00a0 Someone else may go from saving 10% to saving 30%.\u00a0 Another person may go from saving 30% to saving 60%.\u00a0 You get the point.\u00a0 Figure out some of the life hacks out there to boost up your savings rate while also enjoying life.<\/p>\n

Thanks to discovering this shift in thinking, we could have reached our FIRE number a year or two ago in our early 30s if we both kept working full time.\u00a0 But we decided to reign in the hours at work and instead glide into early retirement in fashion.\u00a0 It’s never been about a race to the end for us.\u00a0 It’s always been about balance<\/strong>.\u00a0 Back in 2018, Nic decided not to return back to work after our daughter was born.\u00a0 In 2019, I decided to switch jobs and move into a part time roll.\u00a0 We are now gliding towards our FIRE number.<\/p>\n

Why?<\/p>\n

We wanted some time to test out all the extra hours at home to see if we’d enjoy it (we do).<\/p>\n

We wanted to transition slowly into our next phase of life.<\/p>\n

We started a family and wanted to be there as much as possible with our daughter during her early years.<\/p>\n

We knew full time positions would be there if we really wanted them again (we don’t).<\/p>\n

Some may look at our story and think you were sooooo close to the end goal and you delayed it. Why oh why?!\u00a0 Just grind it out and get there already!<\/p>\n

But when life is good (I don’t hate my job at all), a slow transition may make the most sense.<\/p>\n

We’re living the best of both worlds.\u00a0 We’re still able to receive a paycheck which allows us to save 50% of my part time income.\u00a0 We’re able to receive employer benefits like paid massages, physio therapy, etc and a majority of coverage for dental, vision, and prescriptions.\u00a0 We’re able to have ample time off together.\u00a0 We’re able to live that FIRE lifestyle by designing a life we love while not having to withdraw any money.<\/p>\n

Jess from The Fioneers<\/a> reached out to see if we’d be interested in sharing more of our story over on their blog as part of their Slow FI Interview Series<\/a>.\u00a0 I love the message they are spreading to figure out a life you love along your journey.\u00a0 They are helping to create a community for those who like the idea of retiring early but not at as extreme of a pace as some of the “gurus” in the FIRE space.\u00a0 Finding a community of like minded individuals that you can connect with is so important during your journey.<\/p>\n

You know we’re always game to spread the love so you can check out our interview with them by clicking on the image below:<\/p>\n

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Hope you enjoy it!\u00a0 Let us know in the comments below or over on The Fioneer’s Slow FI interview your thoughts on our decision to slow things down.\u00a0 If you were so close to your FIRE number, would you grind it out to get there or would you reign things in?\u00a0 Curious to hear your thoughts on this topic!<\/p>\n

Support This Blog<\/h2>\n

If you liked this article and want more content like this, please support this blog by sharing it.\u00a0 Not only does it help spread the FIRE, but it lets me know what content you find beneficial.\u00a0 Writing is NOT my strong suit and it honestly takes me hours to write each post so the more encouragement the better!\u00a0 Engaging in the comments below keeps me motivated.\u00a0 You can also support this blog by subscribing to receive emails anytime a new post is published.\u00a0 Thank you FImily!<\/p>\n

We believe in stacking up life hacks to keep your enjoyment levels to the max without depleting your bank account.\u00a0 Here are some ways to further educate yourself and save thousands of dollars over your lifetime by making some simple adjustments:<\/p>\n