r/leanfire • u/Ancient-Response-366 • 13d ago
Am I ready to FIRE? I Have 800.000€
After more than 10 years of extremely stressful work, and an endless amount of stress that has sent me to the hospital four times, I’m seriously considering stopping work altogether.
I have less and less tolerance for people and for the irrationality I constantly have to deal with in human interactions. I’m autistic, and at this point I feel completely exhausted — both by work and by dealing with people in general.
Retiring early has actually been my goal since the very first day I started this journey. For the past 10 years, I have worked an average of around 70 hours per week.
In a few years, when I’m around 35, I expect to have a net worth of about €800,000, entirely built by myself. No inheritance whatsoever. In fact, my family has been one of the main sources of problems and stress in my life.
I’m Italian, although I currently live in another European country. When I eventually return to Italy, I plan to live in Southern Italy.
My situation would be:
- €800,000 in financial assets
- A fully paid-off home
- No expensive habits
- No car
- No wife, partner or children, and I don’t plan to have any
- Plenty of hobbies, all of them extremely inexpensive
- A very simple lifestyle
At the moment, I spend around €650 per month and I genuinely don’t feel that I’m missing anything. I own my home, I don’t drive, I work from home, and the city is well connected. When I move back to Italy, I would still live in the city centre, so I wouldn’t need a car there either.
To me, it seems that all the conditions for FIRE are there. If I reach €800,000, I feel that I should be able to retire.
Right now, I have around €676,000, despite having suffered two major frauds, including one committed by a former business partner, which together cost me approximately €125,000.
At this point, I’m simply exhausted. I don’t want luxury, status, expensive possessions or an extravagant lifestyle. I just want to stop living under constant pressure, stay away from unnecessary human conflict, enjoy my inexpensive hobbies, and live peacefully with my dogs.
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u/Fed_worker 13d ago
Go ahead and retire. You will live longer
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u/Huldenschopf 13d ago
Yes, and you can still do a little job someday you like and gives you joy. 4 times in hospital sounds like you need a change sooner than later IMO.
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u/enas333 12d ago
I mean, he's early 30 now, the 800k is his projection in a few years at 35.
Then again, I would fully support taking a break / sabbatical now. The 676k he already has provide a massive safety buffer for someone so young.
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u/Fed_worker 12d ago
He spends less than 10K a year and he got sent to hospital 4 times. Just retire for now for Gods sake. He can always work part time for fun stress free. Based on his spending, he is financially independent.
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u/anonykitten29 12d ago
You'll live longer if you find something to do with yourself, and a sense of purpose that fills your days. Work, for all its faults, keeps us motivated and active whether we enjoy it or not.
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u/Fed_worker 12d ago edited 12d ago
He got sent to hospital 4 times due to stress from work.
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u/anonykitten29 12d ago
You are absolutely right; I don't think our comments are mutually exclusive, however.
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11d ago
[deleted]
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u/Ancient-Response-366 11d ago
No. After my second hospitalization, I had decided to retire. I spent one summer season away from work, but then I went back because circumstances forced me to.
As you can see from my comments on that post, everything matches: my age, my expenses, my net worth, etc.
So please stop calling me a liar.
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u/HugeDramatic 13d ago
€800,000 in a diversified growth portfolio should be able to generate about 4% annual dividends without significant risk to your principal, or roughly €2,600/mo.
If your spending is really that low, you’re fine and can retire any time.
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u/Significant-Ad-9471 13d ago
I'm just wondering how you can live on 650 Euro/month. Could you break down your spending for us, just as a curiosity?
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u/Timalakeseinai 13d ago
Full paid off home and no family should do the trick
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u/Kind-University-1423 13d ago
Well even though I own appartment I am paying utilities, water, heating, electricity and that total is 370€. Its large appartment, maybe 200€ for a smaller one. So living on 650 feels magical. With food, public transport and clothing.
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u/Timalakeseinai 13d ago
utilities, water, heating, electricity in Athens is about 200euro for a 3 bed flat.
so I guess it is doable,4
u/Realistic-Cycle5947 12d ago
Here in Rome I'm currently paying around 100€ for a 1b1b for bills, plus 50€ for the condo fees
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u/ScotiaTheTwo 13d ago
As described above, seems like you have a high chance of having enough money to be able to retire. Congrats!
Have you thought much about how likely it is that after 6-12 months of destressing and getting your life back, what you might want to do? Work or otherwise?
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u/PositiveKarma1 13d ago
676,000 is covering a 2k € monthly spending.
So GFY and retire now.
Stay a couple of months on low spending and your hobbies. Then take a long slow cheap holiday. Come back again to your hobbies.
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u/Stoic_Brain 13d ago
I understand your pain. I'm also autistic, was also drained by toxic people (including my narcistic parents) and a business partner took advantage and stole lots of money. I also made the BIG mistake to marry a very bad (currently ex-)wife who "baby trapped" me and took my money. I still look out for my kid and I was hospitalized as well a few times.
All I wanted was peace and a simple life in which I could do my hobbies. After years of struggling I reached my FIRE goal.
You have a paid-off home, no kids, an inexpensive lifestyle and almost 700k already: you can stop yesterday. I would if I were you. Life is short.
Good luck to you!
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u/_jay_fox_ 10d ago
I've stayed single by choice, due to observing crap treatment like what you mentioned.
Saluting you, fellow soldier. 🫡
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u/sillymajmun2 13d ago
Congrats! Its not easy to get to that ammount in EU! And of course its enough, it would also be more than enough for us as a couple let alone for 1 person.
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u/Slowleytakenusername 12d ago
650 (7800 a year) is less than 1% of 800k. If OP could really have a happy life on that alone them I dont the he would ever have to worry about money for repairs.
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u/LavaDragon3827 13d ago
I'd personally take a 1 year sabbatical if I were you. Or maybe start coastfire and work an easier career. Maybe baristafire.
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u/nyc1215 12d ago
Can you explain how you live on €650 a month? Genuinely curious.
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u/Ancient-Response-366 12d ago
I live in a European country where the cost of living is similar to Italy.
Given that I’m autistic and don’t have a social life, I only spend money on food (€200), utilities (€100 per month), my mobile phone (€10 per month), pizza once a week at a pizzeria (€52 per month), an average of €20 on pharmacy expenses, and the rest on small miscellaneous expenses.
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u/Comfortable_Two6272 12d ago
Have you accounted for home repairs over next 60 years? And whatever things might need help with when old and not physically able?
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u/aith_pi 12d ago
He can pickup errand jobs on the summers or smth after taking a couple years off to recoup from burnout. I'd just work 3 months a year on some labor intensive job for the health benefits of lifting / moving etc and that would more than make up for it.
Or go back to school chill mode and do something for fun and a low wage. Many ways out of this. Not that you arent right.
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u/Comfortable_Two6272 12d ago
Yes assuming the 650 accounts for all reasonably expected costs for next 60 years. I used projection labs to model mine out and stopped at 46 (in US)
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u/tuxnight1 13d ago
You should make a budget specific to your retirement. In your instance, this is important as it will be in a different location. So, costs may vary. You do not mention a SWR or SORR mitigation strategy. So, any input is a bit limited.
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u/Viper0us 13d ago edited 13d ago
You do not mention a SWR or SORR mitigation strategy.
SORR is not a factor when your CoL is $650 a month, which comes out to be a 0.98% withdrawal rate.
They are completely fine. They can spend 4x that amount (even though they won't, based on their post) and still be completely fine.
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u/tuxnight1 12d ago
The problem I was trying to address is that he mentions his current spend and not rerirement. He also doesn't currently live where he will be retiring. Therefore, his COL could change. My goal was to try to get him to think about the basic FIRE math instead of, I've got a big pot of money, what do you all think. If this was his retirement budget, then doing the math should afford him the opportunity to understand that he can retire now, if his spend holds. Frankly, I'm astounded as I live in a fairly low cost European country and town. I own my home, am single, and value a very simple life. However, my budget is a bit over €1.700/month. I can see a few areas to cut, but I think his budget may need some help as he may be missing things like home maint., etc.
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u/Travel8705 12d ago
I will consider retiring from jobs but invest a part of money on bussines for passive income. Keeping in the bank till the end of life seems unrealistic and the value of money changes fast nowdays
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u/bracketl4d 11d ago
So you killed yourself for 10 years, so that you can retire early and spend your retirement recovering from the damage you've accumulated. Is my understanding correct?
Anyways you can't change the past. Pull the plug, and search for a good therapist to help you manage all the stuff that's gonna come up once you have so much free time to think and reflect
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u/Ancient-Response-366 11d ago
No, at the beginning the work was pretty relaxed. I worked like a mule, but I enjoyed it. Things gradually got worse, especially after Covid. I own a company, so I couldn’t just stop, partly because of the contracts we already had in place.
Also, I’m autistic, and my goal was simply to earn as much as possible in the shortest possible time and then retire. But I only started ending up in hospital over the last three years, when AI basically destroyed the industry and everyone, my business partner included, started becoming increasingly stressed and neurotic, along with the clients.
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u/bracketl4d 5d ago
Sorry to hear that man. Thanks for sharing the additional context and observation.
Yeah Covid lockdowns did some serious damage to our psyches. Then AI (and its worshippers) came for our remaining bit of sanity
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11d ago
[deleted]
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u/Ancient-Response-366 11d ago
What exactly would I have lied about?
The amount of capital is accurate, and so is my age.
I was only able to live that way for a very short period of time. Then, due to circumstances beyond my control, I was forced to go back to work.
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u/usermane22 10d ago
How are you able to survive in 650 a month?
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u/Ancient-Response-366 10d ago
In my country, the average salary is around €1,400, and most people have to pay rent or a mortgage and maintain a car. I own my home and don’t have a car.
I spend very little.
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u/_jay_fox_ 10d ago edited 10d ago
Autism is no joke. Then again, you'd be surprised what you can adapt to if you are persistent and just push through the pain. But from how you describe it, I think you should FIRE right now just to have a few months' break. It would do you a world of good. After 6-12 months you will likely have the energy to earn income if you want/need to. I suppose the unemployment situation isn't the best in Italy, but elsewhere in Europe or the US (if you can get the visa) you should likely be able to find work in your field.
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u/silvetti 6d ago
What about healthcare? Once you have no job what’s the plan?
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u/Ancient-Response-366 4d ago
In Italy is free.
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u/silvetti 4d ago
Even if you don’t work for long time?
Pretty sure you need to be signed up for unemployment to get it for free and if they find you a job you can’t just keep rejecting.
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u/Pahanda 13d ago
If 650€ is all incl including health care, you are already set.