I am 25 male, and I am not passionate about marrying, buying home, or having kids. Should I do give up on these things and FIRE not later than 35? - Seedly
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FIRE Movement

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Anonymous

Asked on 25 Oct 2020

I am 25 male, and I am not passionate about marrying, buying home, or having kids. Should I do give up on these things and FIRE not later than 35?

I have accumulated 160k in investible assets (not including CPF) after 3 years of working, intending to FIRE when it reaches 800k, so that at 3% W.R. it can safely sustain my minimalist lifestyle. If I do FIRE before 35, I will then go for a PhD, and find other ways to contribute to the advancement of humanity - which is the most exciting thing to me, not marrying. And no, having kids is not advancing humanity, but worse if people use means to help their kids get ahead - nepotism! I hated it.

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If youre certain about the reasons of not getting married, buying a home and having kids. Then go do what you want and live your life to the fullest!

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Question Poster

4w ago

Thank you!
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If it makes u happy then why not

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Daniel Kok

Daniel Kok

Level 6. Master

Answered on 27 Oct 2020

Well good enough that you got it sorted out.

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I'm also going a similar route. I found out about fire only after 2 years into married life.

But now, i'm saving and investing regularly to meet my FIRE Goal Amount.

At the end of the day, if i'm able to compound safely at 17% per annum. A safe withdrawal of 4% will defintely beat inflation.

But of course, i need to start looking into setting aside 2-3 years worth of expenses just in case market dip and went through 2-3 years of drought.

Then i can still use my 2-3 years worth of savings to fund through this drought.

Once it recover back, i'm able to rebuild this savings amount...​​​

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You are free to do whatever you wish.

You should also know that you are free to change your mind later and you just need to make adjustments to meet your new goals.

Last but not least, is $800,000 really enough? Have you considered and are covered for rainy days e.g. illness?

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Question Poster

25 Oct 2020

Haha guess that's male privilege - I can suddenly decide that I want to marry and marry a 20 years old even when I am 50 (or 80 if as good as Yang Chen-Ning). Jokes aside, 800k is enough for a minimalist style (or lean FIRE) based on my calculation. With regards to illness, if mild ones I hope my CPF MA can cover, though I will try to stay fit and go to library instead of doing dangerous sports anyways. In the case of serious illness, I am not afraid to take my own life - a little extra benefit for not having a spouse and kids.
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D

Deedee

Level 6. Master

Answered on 25 Oct 2020

Hi anon, I do hope you have considered inflation and crisis every 10 years or so and perhaps if your parents may be forced into retirement early and having to depend on you. Remember to have your insurance settled as well. Otherwise, it's always good to aim high and go for it! :)

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Ridhwan Muzaki
Ridhwan Muzaki

27 Oct 2020

Health insurance and CI are insurances that you must get
Question Poster

31 Oct 2020

Hi Ridhwan, thank you for the reminder on health insurance, currently I am covered by CPF Medisave (since govt offers subsidised medical care it's kinda insurance?) and also the "free" (it's treated as benefits so I need to pay tax) health insurance from employer.
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If you are really sure about this, then go ahead. The above 3 that you have mentioned are arguably, factors that will put a significant dent on your finances. Getting rid of those will definitely get you to FIRE earlier.

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Question Poster

31 Oct 2020

Hi Curiousful, thank you for the kind comment. It's a blessing that your old folks are enjoying their golden years with the grandkids. But as you know my passion is not in starting my own family so being forced by anyone for any reason will only result in unfortunate endings for everyone involved. To avoid such tragedy, I had made the choice to stay celibate and focus on my career. And I believe it is impossible to avoid nepotism once I had my own kids unless I don't allow them to stay in my house or get any money from me - a privilege that I can't offer to every kid. Honestly my mom laughed at me for thinking like that, like I were somebody. She always wanted me to settle as the comfortable middle class, but she gave me the wrong genes.
Question Poster

3w ago

After some more thought, I think unless we could have social foster care for all kids, which is economically a very challenging endeavour, distributing the responsibility of taking care of the kids to each family is actually kind of applying "economy of scale", therefore it's not nepotism. But still, there are other privileges like giving my kids private tuitions conducted by myself, career advices, or an outright inheritance that should by all means fall under nepotism that are needed to be avoided in order to not contradict with my principle. So now I am no longer rejecting marriage and having kids, though I would still earn my financial independence first. Thanks curiousful again!
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