I haven’t invested a lot of attention defining which type of FIRE I’m focused on. I’ve never been much for labels and classifications since I feel like most aspects of my life have not fallen cleanly into any particular category.

I was listening to the Bigger Pockets Money podcast recently and the guest mentioned how much stress was taken off her shoulders when she achieved Coast FIRE. For those who may not be familiar, Coast FIRE is usually defined as having enough money invested that you no longer need to contribute to achieve financial independence by the traditional retirement age of 65 (or whatever age you define as traditional). Essentially, once you have enough money in your traditional retirement accounts (401k, ROTH, etc) you can stop contributing and forget that those accounts exist, within reason, and wait to tap them until the government allows you to access them penalty free at which point you’re financially set for the remainder of your life.

I’ve achieved Coast FIRE, and that does feel good, but I cannot imagine abandoning my saving plans and working for the next 24 years until traditional retirement age. I enjoy my job, but not enough that I would commit to 24 more years. That said, I’m not discounting what I have achieved and the peace of mind that provides.

I have an aunt whose husband passed away in 2020, she has always been the primary bread winner, is in her late sixties, and cannot stop working. She is soo invested in her stuff that she is unwilling to sell the collectibles, the house, the truck, etc… She is sacrificing the last years of her life to support the debt behind all the stuff. Her children have gone so far as to tell her they do not want most of her possessions and would prefer that she live simpler with less stress. She is living the final stages of the sunk-cost fallacy she has created in her mind. She is continuing to invest her time, money, and ultimately, the last of her life energy maintaining her possessions simply because she has them.

I realize I have my own emotional and financial sunk costs and I’m thankful that I’ve accumulated the resources to cover those costs when I hit traditional retirement age. That said, I want time to enjoy and experience all that the world has to offer earlier than 65. I want enough to make me happy at an early age with the freedom to try new things.

You have to live spherically – in many directions. Never lose your childish enthusiasm – and things will come your way.

Federico Fellini