Wanna work part time starting now or bust your butt for FIRE?

The question I have been playing out recently in my mind is whether to work to achieve FIRE. Should I bust my butt for 10 years and then peace out in a flame of glory? Or do I go part time now (between 60 to 80%) and lay low working into the sweet sunset of retirement at 60?

My current employer offers a pension at 60 (likely 65 when I actually retire) that includes health care. If I could last the next 20 + years for that, is it worth it? I wrote about the differences it would make to my drawdown strategy here and here. There are definite financial benefits to staying until 60, but what about emotional and life ones?  

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Homeownership- A case study

Today I am happy to feature a guest post from a family member. We have no financial relationships except that we buy each other beers when we are together. I recently discussed the real cost of homeownership since buying my million dollar plus home. It’s not pretty. The point of the article was that a lot of money goes to things other than principal and interest. Thus, when buying a home consideration should be given for the true cost of maintenance.

In talking to the author of this post, he agreed. He lived in Longmont, CO (the home of the famous Mr. Money Mustache), which by all costs has a reasonable  cost of living. He lived in the same home for 14 years and recently sold it as the Longmont market has become more “hot”. Him and his family have since moved to Seattle where they will not be purchasing a home partly due to being empty nesters now and also the crazy housing market there.

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One house, one spouse, one job

I recently posted a graph of my net worth (see bel0w) since I started tracking it in 2014 on twitter. Despite becoming an attending in 2012, I did not track my net worth early on. As you can see, it has been a slow and steady climb to a positive net worth. I posted this and the White Coat Investor stated this is a good case to discuss one house, one spouse, one job. A mantra for stability and progress.

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DIY Fail

I am a big fan of a do it yourself (DIY) lifestyle. I try to do most things myself instead of calling in the troops. A lot of this can be traced back to my father. Growing up with him I replaced toilets, installed hardwood and tile floors, put up drywall, fixed plumbing, simple car maintenance, etc. He was always busy and always fixing everything himself. He thought me a lot about getting things done in life.

Today we discuss how DIY can still be part of your life, leading to a happier, more cost-effective you.

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