[USER]

Hello. I was wondering is there a kind of FIRE, where you just save up to 10 years freedom as younger and then get back to work?

I am 34 and I would like to save as much as I can the next 10 years and then I will be 44, then live off of my savings till I am 54 and just work again??

I would rather have 10 years of freedom at that age as soposed to from age 55-65 …

do you know What I mean??

[Cheryl]

Ask moms who have been stay at home moms for a chunk of years if they were able to jump back into their career at anywhere near the same level.

For 6 years out of work it took over ten years after re-entering then a career switch to get close to prior earnings.

I realize money is not the only consideration though

[Lisa]

I don’t think you necessarily need a 10 year break but I’m a travel nurse and I regularly take anywhere from 3-5 months off in between contracts and that has been life changing! After a few months off I feel reinvigorated to get back to work.

On my time off I travel and spend time doing things that I don’t have the time or energy to do while I’m working.

Also, life is short and unpredictable and I want to travel now while I’m healthy and able.

None of us knows how healthy we will be in the future.

[Allison]

I second Jillian Johnsrud, and would add to consider multiple longer mini retirements.

Way easier to keep your foot in the industry with multiple 1-2 year gaps, and allows for more flexibility as life changes.

Losing the compounding gains would also be quite a setback and worth reviewing the numbers in detail as it would likely add many working years.

[Shawn]

Jillian Johnsrud writes a lot about retiring often. Stuff like taking sabbaticals.

The issue is you are taking a risk that your health could decline and your retirement lifestyle might decline if you aren’t able to go back to work.

If you could find some ways to earn some money over that 10 years it would help tremendously.

You aren’t quite describing coastfi but it’s worth looking into.

[Amy]

No one will hire you if you haveca 10 year gap in your resume. And you really really really won’t want to go back to work.

It’s just not realistic

[Micah]

It’s more about obtaining Financial Independence so you can do what you want … no need to lock in plans 10 years from now …

you will most certainly feel differently then. Keep it simple, don’t over-plan.

[Chelsea]

I think you can make anything happen, but I also think a lot of the comments here are very realistic.

It would be hard to take 10 years off and then go back, for a variety of reasons.

Are you planning on starting at 0 at 54?

Or planning to keep a percentage towards retirement?

I freelance and I used to take 3-ish month trips during my down season to LCOL countries (mostly in SE Asia and S America).

You can travel there extremely cheaply, and not really deplete any significant amount of savings.

At the time, I was living with family so I didn’t have to worry about rent and a lot of other bills at home, but I would highly recommend doing something like that as it works for you.

Maybe 1 year off every 5 years?

It depends on your line of work as well, but this would keep you more marketable and keep you from completely depleting savings and missing out on compounding

[Allen]

What kind of employment would you get at age 55 with a 10 year gap on your resume?

[Stan]

You say it now but may not feel that way then. When your spouse and friends are starting to retire.

I also feel, I haven’t done the math, that the scenario is not equal.

You lose compounding gains.

[Ben]

At 37 and 19years into a dead end career I’m there with you on being ready to jump ship.

Unfortunately most forms of FI rely on compound growth and that can’t happen over 10yrs.

Your better setting what you have saved aside in the market after 10yrs and chaising income on passions and hope that you can form some sort of business out of it.

[Liz]

Yep! I know what you mean. Anything is possible. I don’t want to wait til I’m too old to enjoy what I love and I actually like working.

You can also just take adult gap years.

But be careful of what you expect when you try to re enter the work force

[D’Angela]

Don’t do it!!!! Missing the compounding interest is a killer. Getting back in the job market at a higher income is hard.

[Rachel]

Ageism is real. It can be difficult to get hired in your mid-fifties. Especially with a long gap in employment.

If you do this, try to stay connected in your industry, network & stay current with the technology.

But that’s not really retirement…

[Ashley]

It seems like a good idea but honestly unless you are very good at what you do or in an industry easy to jump back in you’ll find the job market starts to shrink after 54 – and with that income unless you have a solid career already.

Also your friends will likely not have the same freedom to enjoy life with you.

Freedom at 55 can feel pretty dang nice – no upcoming commitments, and never working again.

[William]

There’s not much difference physically between 45 and 55 if you take care of yourself.

Once u take off for a decade you’re NOT gonna want to go back to work plus you’d be starting over in the workforce ….to each their own but I wouldn’t recommend it.

Plus a 10 year gap in your resume trying to get hired at 55!?!

[Kira]

Tomorrow is not guaranteed. Do what you can today to have freedom tomorrow.

Also, find something you really love doing that can bring you income and you won’t consider at “work”.

We are planning to sell our business in about 5 years and I want to coach after- flexible schedule and can be done anywhere in the World

[Author]

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