When someone shares their thoughts (like some random typer like me) on the internet or in person, it’s important to know where they’re coming from. What is their perspective? What is the foundation their basing their thought/position on? What is their past?
Current FI Mode.
Where on the FI journey is the thought-person? Notice I didn’t say “though LEADER.” I’m so sick of “leaders” and “influencers.” All of this spewing of thoughts is nothing more than someone wanting to share something for themself. Yep, I get the irony.
Read more: FIRE.232 Others’ IdeasIs the thought person A) FIREd B) FI C) almost FI and transitioning D) in the middle of the FI journey, or E) at the beginning—pulling all the information together and taking the/their initial steps?
Those places along the FI journey shape a giant part of someone’s perspective on FI/FI-ing.
Consider their place when you listen to their ideas. Take that placement consideration into your own processing of their thoughts. Please, never blindly act on something without processing it to your own situation. Free advice is worth about what you pay for it. Even paid advice can be valuable, bad, or even dangerous.
Which side of FI/FIRE is the other person on?
Pre FI Drivers: progressing and driving the FI process
Post FI Cruisers – living in their FI life in balance with their desires.
These two sides of FI and their current drive determine how they see the FI world.
Case Study “Advice”
At a CampFI, there was a case study about someone wanting to graduate from their career (retire). They were asking for (free) “advice.”
There were many perspectives shared. Honestly, some very great perspectives!
I don’t like case studies. I may be the only one. I see them as voyeuristic. Others can see behind the door, and then compare themselves. I think finding someone a few steps ahead of you, someone who has a similar situation (and past?) may be far more applicable. (see, free advice).
So, should person A leave their job?
In some cases, the spend rate (and buffers) are so far below their asset base that it makes clear, really good, or very good sense that they don’t need to earn more income.
People may be telling person A, “You are fine.” You are “good to go.” “You don’t need to work for income any longer.”
Pushing
Often, the person is hesitant (of course). But I realized that many people, who feel they’re giving great (free) “advice,” are pushing person A to do something. These people may have calculated their personal future FI number at or lower than person A’s amount and “think” person A will be fine.
Or, these pushers may live by the 4% rule and know everything. So many issues with living life on a 4% rule. (Let’s base our 40-50-year possible life future off the worst 30-year historical period…and believe we’re going to spend the same percentage of investment assets at 45 or 55 as we will at 85)
Pulling
But there may be experienced (similar?) people a few steps ahead of person A who are giving the same free advice. But I feel the people ahead may be “pullers” sharing the “we’ve done this and we’ve seen the challenges, it’s OK.”
Advice in Which Direction
When you get advice or thoughts from people around you, are they trying to help fit their mold? Are these people ahead of or behind you on a similar journey?
Are they pushing you to what they think or pulling you to where they are?
*** Nothing in this article is to be construed as financial advice. I am not a financial planner, nor do I pretend to be. You should always consult your own professional when seeking advice. This post is not a piece of literary mastery, just a random thought I had.