Long time sub creeper here. I see a lot of folks who post wild numbers for their FIRE goals, have lucrative pays and those who are just starting out. Thought it would be valuable to throw my journey into the ring for perspective as, what I would deem, a regular guy. Sorry if this post may be unorganized in advance.
I’m a 36 old dude, been investing since I was about 25 and got into FIRE at about 27 so on the journey for +/- 9 years. I’m married, have a 19m old daughter and my wife hasn’t worked in a little over two years yet my net worth continues to grow consistently. I recently started making a smidge over 6 figures the last 3 years and work in non-tech consumer goods industry (middle management). Net worth has hit ~$1.4MM with about $900k in total invested assets as of Q1 and now with child spend about $55k annually, we live in MCOL central Florida. Technically FI has been achieved but there has been no emotional switch, I assume that’s how it should be though as I stay the course.
My mindset is “it’s a marathon, not a race”. We don’t deprive ourselves of anything we want to buy or experiences we want to have, however we operate on more of a value based “is it worth it” type mindset of value purchases. We have one go on this rock which could end tomorrow and aren’t depriving ourselves but still live below our means which isn’t hard to do if you’re just mindful.
What I would call keys to continued net worth growth: no debt (ever) outside mortgage, max out 401k annually which lowers AGI for taxes (we pay about 7% total after deductions), max out Roth and invest in the taxable every chance I get. Mixed investments of general market ETF’s and dividend growth ETF’s with all set to DRIP haven’t done me wrong yet. It’s boring and that’s likely a good thing. Once I hit about 500k total invested assets the contributions didn’t seem to move the needle annually and the snowball effect became noticeable. Riding the growth wave is majority of growth reason and time in the market outweighs timing the market, just let it ride.
The change that has happened though is I realize the need to keep my job doesn’t drive my life or add stress. If i wouldn’t have invested consistently I would NEED that paycheck to survive. The level of stress has subsided knowing I will be able to support my family if I were to lose my job which is a giant relief and has lowered the baseline stress levels.
TL/DR: Stay the investing course, it’s a marathon not a race. Be mindful of annual spends, taxes/future taxes on the journey but remember this is your only life so don’t deprive yourself. I’m not special and don’t earn much more than 100k annually, I just keep my head down and do what the old school investors have been preaching for years. Money hasn’t changed me, just lowered my stress levels.