Monthly Archives: March 2018

FIRE.054 Part Deux – Repriorment

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What do you do part deux?  I could spend weeks writing about how many different ways our collective could share our lifestyle with the commoners/consumers.   Wait, I already do that here.  FIRE is really just relief retirement from a fixed career, a Repriorment if you will. (thanks Linda for sharing this term which sums up the journey so succinctly).  So I will expand…

Repriorment is so very simple.  For me, it is the act of prioritizing anything or everything.  Since you are reading this, you already do this.  You make conscious decisions on what you do with your time.  You make conscious decisions on how you manage your cash flow.  You are thoughtful and rely on the power of your mind.  I can confirm to you that you are extraordinary.

Improvement

I’ve seen repriorment used in the retirement context, but actually, it takes place every minute you are active.  The entire decision of what to do right now—or coming up—is a decision made on what you prioritize.  The little incremental decisions you make over a lifetime shape not only your current actions, but also compound into your future self.  It is truly the amazing results mentioned on ChooseFI of the aggregation of marginal gains.

 

Every once-in-a-while, pause for a second and think about what you’re doing right now, is it what you prioritize or just and offshoot of something you were doing?  Are to completing a conscious task?  Are you completing a multi-task (consciously)?  Or, are you just randomizing?  These are all OK, and because you’re extraordinary, they are all probably adding to your awesomeness…at some level.  But I feel we could all drive ourselves a sliver more.  It’s in our nature as extraordinary people.

Optional

FIOR is a great acronym that has come out of nowhere but I hear it more often.  Lisa is a genius.  She is exactly correct.  OPTIONAL is the key word.  More specifically optional is exactly the heart of the entire FIRE/FIOR world.

The option to reprioritize everything, every day.  There is near total freedom on how you live your day/week/month.  Stop and think about that for a full minute………ANYTHING is possible today, and acceptable.  You have ALL the options, especially at FI

Result

We ALL want days like this, where it’s our day to decide what to do.

The very best description I read about FIRE is:

“remember when you got out of school for the summer and you wake up the first morning of summer vacation? And you realize you have no school and no homework you have to do? And you have the whole day ahead of you to do whatever the hell you feel like? It feels like that.”  MrFreakyFrugal nailed it.

There is nothing I want to add to that.  It’s pure, simple and exactly correct.

In closing, there is a retirement community near me with a billboard that says “Retire Like You Mean It.”TM  That’s awesome!  Go to sleep knowing you own tomorrow.  Wake up knowing you own the day.  Imagine living 24 hours a day knowing you are your own boss.  This is almost priceless.

FIRE.053 Financially Sound

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I have the hardest time telling (common) people I’m FIRE.

What Do You Do?

For me, in FIRE it can be very strange when someone asks you “what do you do?”  Being in your 40s, the normal answer is “profession=XYZ,  family=ABC, blah blah blah.”  In my mind, I never thought it would be strange to say “I’m retired” since that is the standard nomenclature for no longer being tied to a 9 to 5 job.  But I realized the full phrase is more completely “9 to 5 to 65.”

Yes, I know that retiring at 65 may be extremely optimistic for many people in our consumerist society, after all, there were many ‘things’ their family needs to enjoy their life together (watercrafts, ATVs, home theaters, new/smart appliances, larger vehicles with entertainment systems so little Tommy wouldn’t be bored driving 10 minutes to the (artisan) grocery store.  First world problems to be sure.

It’s possible for many people that 65 arrives and the old SUV’s entertainment system relies on these things called DVDs or CDs (I have a cassette deck-adapter connected to my iphone) and the in-dash GPS has maps that were last updated 15 years ago…oh wait, nobody drives a 15-year-old car, well except people like us.  Many people will arrive at 65 with LOTS of purchases in their past, but few assets/investments now.

I’m Retired … [silence]

My wife FIREd 3 years before me.  She told me I would have a hard time telling people I was retired.  I thought she was crazy.  Why?  After all we had done to live good but below our means, save and invest, etc, etc, it just made sense to be free from working 9-5.  It shouldn’t be a big deal to others, it’s cool, right?

She was right!  (as usual)  Telling people you are “retired”—one word that to me means “I’m not forced to work a job to pay my expenses” seems to mean “old” to most everyone.  There was always just utter confusion on many faces with my being retired.  The concept of “what I do” was totally inconceivable to everyone.  [live like no one else, so you can live like no one else—Dave Ramsey, is spot on]

If I didn’t want to use the word “retire” or more detailed “retired early” (anger-inducing) I could say I am FIREd, but I feel to most people the term FI seems elitist, a better-than-you classification.  USUALLY it just means, we spent/wasted less than most others…and now we’re spending that money.

Financially Comfortable

At our vacation trailer, a neighbor used the term “financially comfortable” which I thought was a great term.  To me, it means, we have money set aside but we’re using some of our money to enjoy life.  This isn’t a rich person position, nor is it a strapped with-bills-each-month and a missed paycheck is doom position.  Financially Sound could be a family that has an emergency fund and some long-term savings (and tax deferred retirement savings).

I feel people in FI and FIRE are more than financially comfortable.  Maybe we are near the ultimate in “comfortable.”  The term Financially Sound came into my head as the position of rock-solid financial base.  This is probably on the FU/FI Money scale, maybe just before FU and then FI.  I believe Financially Sound is less off-putting to commoners (i.e the masses/consumerists—not that there’s anything wrong with that path in life).

So what do I tell people I do?  Don’t laugh because it’s not totally absurd, I say “I do consulting.”  That is usually enough to let me (try to become charming and) ask about them, show interest, which I truly am interested 99% of the time.  In truth, I may do plenty of consulting.  I may help others with technology, or help someone find something around town, help with some research, tell someone about a good restaurant, a Costco special, the cheapest gas station, whatever.  It may be stretching the truth, but it’s not off-putting.

So, what do I do?  I enjoy every day on my schetchle.  I stay active running, biking, going to the gym, playing hockey.  I read and learn for hours every day.  I try to help others frequently (three people per day is a great goal).  I try to get more zen to heighten my life enjoyment.  I think I just enjoy.  Just imagine if everyone could wake up each morning—or go to sleep knowing that tomorrow—and know all they have to do is enjoy their day.

When will people understand FIREd does not mean being fired from work, being laid off/RIFd/having your job taken away.  It is the absolute opposite, walking away from your job on your own terms.  Thought: I wish FIRE had FU in the acronym…that’s the independent in me.  There is no question FI  & FIRE are showing up more often in the media, but often as a radical concept…except to those of us who know the magical power.  FIRE away.