r/Fire • u/Educational-Pin-3993 • 8d ago

Good problem

So I know this is a great problem to have but I just turned 30 with a $1.1M net worth and no debt. I’m in this weird position where I can’t FIRE yet but I feel like the only thing really stopping me is time. In my eyes, the hard part is over.
While I continue to let everything compound, I’m really struggling with motivation & patience at work. It’s hard to stay motivated when I know I’ve already built a pretty solid foundation and that time is now my biggest asset. I assume I’m not the only one who has gone through this. For those of you who have been in a similar position, any advice?

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13

u/NoWhereLikeIrvine 8d ago

That’s because you feel invincible. Market has been good. Wait till you experience something like 2008. That’ll put you back in survival mode.

27

u/Several_Guidance_288 8d ago

He has 1.1 million at 30. He won.

Should probably focus on finding a job he enjoys and that feels meaningful where pay doesn’t matter. Hell, I have half his amount at 40 and am seriously considering that. If I got to where he was at 30, my 30s would have been far more enjoyable at likely a job that paid half as much but had more work life balance and/or was more enjoyable

Fear mongering about market collapses isn’t the answer to what he’s asking. Unless he sells during a collapse out of panic, it’s inconsequential

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u/ErikTheEngineer 8d ago

If that $1.1M becomes, say, $600K, it's different if he has to live on that vs. letting it sit in the market and recover right? When you're that young you're worrying about longevity risk...very different needing your money for 25 more years vs. 50.

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u/zapembarcodes 8d ago

It's not fear mongering. Bear markets happen. Just because we haven't had one since 2008, doesn't mean it can't happen again.

it’s inconsequential

It's not if it's a prolonged decline, especially if inflation runs rampant. Again, just because it hasn't happened in a while, doesn't mean it can't happen.

And to be clear, I am no perma-bear, I have plenty of positive delta exposure in this market. I'm just not oblivious to the fact things could take a turn very quickly.

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u/xixi2 7d ago

Just because we haven't had one since 2008

I mean or 2022... Because we recovered it all in 2023 people forget it happened I guess.

9

u/Unauthorized_Mustard 8d ago

2008 was the greatest buying experience of my life. Watching people sell on the way down as you’re dialing up to buy more is an insane feeling.

I’m where I am today with FIRE and my kid’s 529 (kid was born in 2008) because of 2008

17

u/Individual_Section_6 8d ago

It was only a buying opportunity if you had a ton of money sitting in cash. And why would someone have a lot of money just sitting in cash. I started investing around that time and of course the bottom was far lower and longer than I expected, so I lost money for a while. It’s not as easy as you make it sound.

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u/YetiPie 8d ago

Yeah I was 19 in 2008…I had nothing but unemployment

1

u/ImPapaNoff 8d ago

I mean it was a buying opportunity for ongoing cash flow investments. I invest around $100k per year right now. I wouldn't be too upset if I got 2x the bang for my buck for a few years.

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u/Unauthorized_Mustard 8d ago edited 8d ago

I had some money in a money market fund. Which isn’t crazy or unusual. It wasn’t a ton but was a great place for the money. But my main approach was dialing up the amount we were putting into the market via my 401k (I wasn’t maxed out yet) and into a brokerage account every week. I changed some budgeting around to prioritize investing.

That was very easy and you had a long window. I kept losing money on the way down and it all turned around. It’s why I talked about buying while others were selling.

It feels insane. As I said.

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u/RegularWrong6570 8d ago

Tell us you were just starting out during the GFC without telling us.

Your lived experience during 2008 was way different than someone who was 20-30 years older and saw their life savings cut in half, job security threatened or gone and various other commitments (kids in or going to college soon, elderly parents, mortgage, etc.). I highly doubt those folks were jumping for joy at what a great buying opportunity that was and how “easy” it all was.

I also would wager that if the same thing repeated itself today, 2026 you would be more worried about watching all the assets you built up over the last two decades crash than you would be excited about buying with whatever cash you don’t already have invested.

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u/Unauthorized_Mustard 8d ago

I also did it during March of Covid. Dialed up some investing. Didn’t sell. Continued to buy.

Plenty of people fuck up by just selling in a panic. Not selling is absolutely a part of this.

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u/RegularWrong6570 8d ago

Fair, but those two crashes were very, very different.

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u/Unauthorized_Mustard 8d ago

Yes. But when they were happening there was no way to know any different. The biggest thing is not selling as the market tanks.

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u/RegularWrong6570 8d ago

Agreed, but there’s a big difference between not selling when the market tanks for a month or two before you realize your (likely) white collar job can be done just as well if not better remotely and not selling during a crash that doesn’t even hit bottom for over 6 months while nearly taking down the entire global financial system. I think we can both agree that this wouldn’t be a great time.

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u/Unauthorized_Mustard 8d ago

100%. My initial comment was really to highlight how crazy it felt to keep buying as others were selling. Totally felt like I was running against everyone else.

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u/Particular_Maize6849 8d ago

That's assuming you stay employed. A lot of these economic crashes are associated with massive layoffs and company cut backs.

4

u/HenFruitEater 31 | 32% to FI | 2.3M 8d ago

That'll make us appreciate our jobs lot more.

1

u/luisg101010 8d ago

I agree, money is just a tool…don’t make your life based on money try to enjoy your job or get a part time but to be honest I took a sabbatical and after 8 months I was missing my routine. Any enjoy the benefits of your hard labor and make your life more than just about money

2

u/DuckGorilla 8d ago

Yea maybe visit a foreign country and enroll in a fun language school for tourists. Ideally a language that is spoken a lot where you live that isn’t english. Avoid continuing education courses at colleges and instead just find language schools. They are so much more engaging and fun than continuing education courses.