With the advent of AI and the risks to jobs, how are your FIRE plans changing?

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Much more worried about Trump & Co. than AI.

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AI is not changing my plans at all, as I had planned to retire next year and still intend to do so.

likefunny

No change, but slightly more motivated to get there earlier. I work in a complex area of tax and don’t see AI as a real threat, I think it will enable me to do more.

I’m sure AI will affect the economy in more ways than I realize, but I don’t know when or what I can really do now to set myself up better, other than reach FI earlier.

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I was planning on leaving my job in the next year or two (age 45) with the assumption that I could pick up work if needed later. But this seems to be an inflection point, and because AI will drastically change the way we practice law, I don’t want to fall behind. Or, AI will make my job obsolete and I won’t have a job I can do. So I’m planning to stick it out a bit longer—try to stay ahead of the curve as needed and also accumulate a bit more cushion in case the future is one with a lot less job security.

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I think it depends on where you add value. AI tools have done an incredible job at parsing data, drafting motions (yes really), and brainstorming strategy. Of course it all needs to be checked thoroughly but it will get better and better. Still plenty of work to do now, but the way we practice will look very different in 3-5 years.

Bull case for AI means the SP500 10% returns are a thing of the past and 20-30% returns may be coming. If that were to happen the 4% rule could be replaced with a 8-12% rule and I could retire today.

Unfortunately I'm not as optimistic about AI as most so I'm still planning with the 4% rule

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After losing my 30s investing gains to the"lost decade", I would never be comfortable counting on the market being way outside of historical ranges for a long period of time. There is no 'new normal'. When PCs came out, and again when the internet became popular, we saw predictions that growth was forever changed and 'this time it is different'. It wasn't.

likehelpful

Concerned in the near term that it's overhyped and could be a contributing factor to a 50% downturn

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If enough communities rise up against data enters, it could help us all

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Additional Posts in FIRE Financial Independence Retire Early

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Significant other and I crossed the combined $1M net worth mark this quarter! Mostly in RE and 401k so we will not be FIRE-ing but still excited to be in the 7fig club.

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likefunnysmart

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Decided to payoff my mortgage.

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Feeling grateful & proud as I reached my goal ($50K by 25) 5 months early. But I can’t help feeling a bit overwhelmed. In the lifelong scheme of things, $50K doesn’t seem like much. I worked really hard and sacrificed a lot (including mental health) to get to this but it seems a little tiring knowing I still have so long to go. I recently moved out and in with my BF so my expenses are split, but nonetheless they are still expenses. Any tips on continuing this journey and keeping the drive?

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likehelpfulfunny

What is your savings rate for the year?
I am saving 66% of my take home pay and I’m pretty satisfied with it.

likeuplifting

I’m 36 and I recently reached a net worth of 1 million dollars. I thought I was doing good but then I see other people with several millions and can’t help but wonder how they got there.
I feel I’m doing everything I’m supposed to (I save, I invest, I max out my 401k, IRA, etc...).

What can I do to upgrade my game and reach those higher numbers?

likesmartfunny

Trying to help my retired dad - When I google for what to do after retirement, only retirement planning related things shows up. My dad has been a workaholic and hasn’t developed many hobbies he could pursue. I was wondering how I could help him stay slightly occupied if not busy. Anyone here experienced this with your parents or yourself? How did you navigate this?

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Anyone start later in life? About to turn 32 and my retirement savings are sad.

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FIRE Newbie here - wondering how everyone is retiring early (30’s 40’s 50’s) if the majority of your savings are tied up in tax preferential retirement vehicles you can’t really touch for another few decades?

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TC New grad Software Engineer
Base: $110k
Sign-On: $35k
RSU: $120k/3years
Relocation: $20k

Starting fresh with virtually $0 savings and $0 worth of financial literacy, whats the best course of action? any advice is greatly appreciated!

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