> hoping once you have a huge nest egg, you can make yourself happy!
this is a super uncharitable way of putting the ideas of fi. i would suggest the idea is more like "learn to view money as apart from happiness and recognize that the things that make you happy are more on the intrinsic side of things- self growth, real relationships with people near you, serving others and dont waste the time you have on earth by giving it to some corporation or other entitiy unless you want to"
It doesn't! But some people believe that's their option. That you spend so little that you're miserable. And the job might only be something you endure to make money to someday retire.
We agree. I just may not have communicated that I was being somewhat "extreme" to make the point that "early retirement" doesn't have to be that way. If you re-read my #2 you can kind of see that I'm getting to the same point as you.
1. Spend any extra money you make, knowing that you'll work 20 hours / week at least until social security arrives. If you start to hate work or having trouble finding work, you likely have very little to fall back on. Social security might not support your lifestyle, so expect a very pared back retirement late in life.
2. Spend a lot less than you make, but still spend amply to cover qualify of life and the things you enjoy and value. Invest the extra and have a cushion that covers unexpected job loss, periods of burnout, and the option to go long periods without any work at all if you have other interest you want to pursue. Be prepared for retirement now or when you're much older, but always having everything you need to cover the lifestyle you've designed.
3. Be miserable now, spending way less than you make, hating your job and hoping once you have a huge nest egg, you can make yourself happy!
Some people think early retirement is #3 but it's really #2. And many people do #1 until they start to realize they don't love being tied to a job at 40 as much as they enjoyed it at 20. (And that spending lots of money doesn't always make up for the obligation to work as well as they hoped.)