Last month, I decided to quit my job and find a new one.
I worked as a management consultant for a large international consulting company.
The job was fun and the colleagues awesome. However, being a good management consultant does not go hand in hand with being the good father, husband, and friend I want to be.
As a management consultant, you have very clear career paths from being an associate to becoming a partner. I was well underway to becoming a partner.
The career progression offers insane salary increases. Often 50-100% for each promotion.
I could have doubled my savings rate in a year’s time if I had continued working as a management consultant.
That means I could’ve probably shortened my FIRE journey significantly.
In fact, using a financial independence calculator, I would’ve cut my FIRE journey by more than 50% if I had stayed in consulting.
Why didn’t I do it?
Because you need to be happy on the journey too. The sacrifices of a faster FIRE journey were too great.
I will rather postpone my FIRE journey and be healthier, and a better father, husband, and friend on the way. What is financial independence worth if you have lost your family and friends on the way?
The moral of the story
I guess my point is that a high savings rate isn’t the only goal. You need to take care of yourself and the people around you happiness at all stages in life.
If you don’t like your job, try to change it and ignore your savings rate for a while.
If you don’t like living frugally, then don’t.
If you don’t like living in a small town compared to a large city, then try to move closer to the city.
You get the point. It’s all about being happy, now, tomorrow AND in the future 🙂
Your turn: Have you ever postponed your FIRE journey and why (not)?