FIRE (Financial independence early retirement) for aspies

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What do aspies think of FIRE? The gist of it is you spend the bare minimum you need to live regardless of your income and save AND invest the rest. Some guy named Mr Money Mustache claimed to have saved enough to retire with just 7 years of work since he had gotten so used to spending so little money anyways.

7 years is only possible if you have a high paying job, survive on pork and beans, and get real lucky with your investments. However, something like 20 years is more realistic.

I think this is something that's more suited for Aspies since a lot of us don't enjoy work, esp due to the social aspect. A lot of us also end up unemployed for long stretches due to a lack of a professional network so having those extra savings really helps (i can personally vouch for it). Third, we aren't very inclined to spend a huge amount of money just to show off or keep up with the Jones so it's a lot easier for us to save , say, 50% of our income.

Thoughts?

Sounds like snake oil to me.

Make your own definition of success. Don't live someone else's dream.

Are you even going to be happy if you retire on a yacht at 40? While the best years of your life were spent malnourished because of austere budgeting?

My definition of success is being happy, and having happy and healthy friends and family. Money has a solely mechanical function towards that objective.

Edit: I also set myself realistic and achievable goals. The peddlers of dreams like this FIRE thing are probably making money selling books or merchandise. Many OECD metrics like social mobility, ie; the ability to lift oneself out of poverty, are on the decline. Home ownership is below 50% and claims of more than 50% home ownership rely on statistical aberrations like including homes owned by trusts. I am realistic about renting for the remainder of my life, but that doesn't stop me trying to improve my situation and enjoy my life

And how's it snake oil or peddling if you're not buying any of their wares? FIRE doesn't easily lend itself to big business opportunities since its entire point is to not spend much money or waste it on useless things and to avoid paying for the very same snake oil things like fancy cars, fancy homes, etc that'll keep you financially trapped in the working world far longer than necessary.

I spent a lot of money when I was in a LTR so it took 30 years for me to save enough to comfortably retire. I also did vacations all over the United States, including Maine, Colorado, California, and Hawaii. I'm still working but it is nice knowing that I don't have to.

It could work for some people but a major unexpected expense could happen down the road. It's harder to get back in the workforce after you've been out for a while. Also you might not be in as good of physical & mental shape then which could make working more difficult for you. The part about trying to save money & avoid buying frivolous things is really good & everyone should follow that.

FIRE would not be my cup of tea.

You can live frugally but that is not the way I want to live. One of my dad's friends lived through the great depression. It affected his whole way of thinking. Over his long life he had accumulated millions of dollars. He owned many apartments up in Chicago. But he lived frugally. When my dad visited him, they would go out for coffee at McDonalds. Why McDonalds - because a cup of coffee was free for the elderly at that time. So it didn't cost him any money. He would buy canned food at the grocery store that were missing labels because they were cheaper. So when they ate lunch, he would open up a can and that is what they ate. Now if the can turned out to be dog food, that is what they ate. He refused to get married because he was afraid that his potential wife would only be after his wealth. He store his money in various banks under fictitious names because he was afraid the government would take it away from him. I suspect he is dead by now. And all the money he had saved is probably in the possession of the banks. What a waste!

Another consideration is that accumulation wealth is not totally predictable. I remember one individual at work that had invested heavily for his retirement in the stock market. He was about to retire. But the stock market met a downturn and he had to work another decade before the stocks were in the black again.

In order to accumulate wealth, one needs to earn interest at a high rate than inflation. Our nation is in a lot of debt at the moment and it doesn't seem to be abating. The government can turn a blind eye and begin printing money to pay off this debt. But if it does so, our money will become worthless. Many countries in the past have taken this approach such as Venezuela and their economies crashed big time. So a person has to deal with the uncertainty.

So if an Aspie doesn't get married, doesn't raise children, skimps every corner, they have the potential for accumulation wealth. But as a few others have implied, Beware of Snake Oil Salesman!