Ask HN: Why are young tech professionals in US so obsessed with FIRE? The majority of young tech professionals in the US are trying to retire early? Don’t see people in other professions or older age groups (>35) as obsessed by it.
How did it come to be that people want to peace out early and will rather burn themselves out at 32 to do so? Is it anxiety or financial insecurity? |
This obviously isn't possible if you have to show up for a job, like working as a waiter or clerk at a store. Even among white collar professions, it's not generally possible. Doctors and lawyers have to show up and see patients or clients. It's possible to gain leverage and become a rainmaker in these sorts of businesses, but there's still work and a fair amount of stress when you're at the top.
Techies know it's possible to have a SaaS business that generates $50k-$500k annually, which requires 2-10 hours of weekly maintenance/support. They dream of being at the top of the dollar range and the bottom of the hours range.
On top of that, they can make huge amounts of money working at a FAANG company, enabling them to save more early in their careers than doctors/lawyers (and without the student loan debt). Between these two factors, FIRE seems within reach, and worth trying for.
The possibility of retiring before 35 or 40 is obviously not available to those past that age. We boomers focus on financial independence and retiring before 60 or 70, and don't write monetized blogs or make videos about it. People who don't work in tech may not have enough excess income to save half of it, or they may have children or other obligations. And maybe not everyone who does have lots of excess income finds their career so draining that they dream of bailing out early.
For Americans at least -- I believe the epicenter and majority audience for FIRE material -- we're in a race against time to achieve financial security before aging drops us into the merciless health care system that will consume all excess income and savings. The FIRE demographic has the advantage of youth. As an aging boomer still in the software industry I can't criticize anyone who wants to get financially independent and out of the hamster wheel of tech, but I also see it as a fad and lifestyle for sale like so much of what gets promoted online.
Officemate then, like many of the 50-somethings now, got laid off a decade back and works tools desk at Home Depot.
Like Michael Lewis said. Every time he speaks at Universities they don’t ask sobering questions about the lessons of past. They ask what is the next big thing.
> and will rather burn themselves out at 32 to do so?
This is a big assumption. Obviously doability will vary with individual circumstances but there are various settings to tweak: primarily time, income, and expenses.
A less pathologically exploitative work culture would have people never wanting to retire ... because then they'd get bored.
Gaining financial independence lets you quit a job easier, take breaks, or make decisions where someone else can't have financial leverage over you.
No human being wants to be an employee for other.
If we want a fair economy, everyone should be fair on the competition.
Also, the way relationship works is also broken.
Anonymous relationship is the best.
No way this is true. The majority won't even know that it's a thing, let alone have it as a goal.
Because most of them don't make enough to even dream of FIRE?