Is Early Retirement Worth the Sacrifice? Insights from Those Who Did It

Early retirement really does sound like a dream that many of us wish we could achieve. But leaving the workforce some number of years or decades earlier isn’t for everyone, especially those who like to keep moving. In this piece, we’ll check in on a few early retirement experiences so those interested in pursuing some form of FIRE (Financial Independence) have some more food for thought. Indeed, beyond the financial aspect, there are some real lifestyle adjustments that may not be everyone’s cup of tea.

Indeed, the big question is whether the FIRE movement is worth the sacrifice of saving up a greater chunk of one’s paycheck, rather than spending it on goods and experiences in the present moment. Of course, the answer will differ for everyone. However, in any case, one who retires early but later finds out it’s not for them can always return to their old career, or perhaps shift gears to another line of work, perhaps one that doesn’t involve as much, if any, stress (those who choose to do this are pursuing “Barista FIRE”).

In any case, let’s look into a few cases to see if there are any regrets or things one would have changed had they started all over again.

Individual who retired at 51 says the sacrifice was worth it

First up, we have a financial overachiever who says it was completely worth the years of relative frugality to achieve moderate FIRE. That said, they did have some struggles, especially around the Christmas time, as they resisted the temptation to splurge on new vehicles, luxury homes, and other discretionary goods that can set one back financially for some number of years.

In the final few years of their career, they had their doubts about whether the trade-off would be worth it. After they passed the finish line, though, they’ve found it was completely the right move to make. Indeed, sometimes it’s that final stretch that really makes one feel like they want to throw in the towel. In any case, this commenter makes it clear that the sacrifice won’t be easy and will cause one to second-guess their decision to pursue FIRE on occasion.

This 35-year-old is happier with a “middle ground.”

One successful financial overachiever claims that they’re happier with a “middle ground” that involves an enjoyable, low-stress career without any of the anxieties that come with a lack of funds. Indeed, “Barista FIRE,” which tends to involve part-time work as a barista, can really deliver on that social aspect. And while the pay isn’t great, one will still have a supplemental income to bolster their already sizeable nest egg.

Not to mention, working for reasons beyond money can offer some individuals a great sense of meaning after they’ve achieved financial independence. Indeed, working when one does not have to can really be empowering for some, as this 35-year-old commenter. For the most part, it sounds like they’re content with the sacrifice they made to achieve financial independence at a very young age. Not many are able to find the perfect work-life balance at an age where one may still be yet to hit the prime of their careers.

This FIRE achiever felt there was no sacrifice.

Finally, one commenter remarked that they’re happy with their decision and felt that there was no sacrifice as they built up their nest egg. Indeed, they really didn’t care much about flying coach and living a simple, modest lifestyle.

Perhaps it’s this type of individual, who foregoes lavish spending, that the FIRE movement makes the most sense for. Indeed, if you feel like you’re not sacrificing anything and it’s all too easy to resist temptation to keep up with the Joneses, FIRE may very well be the path to go down.

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