Well..logged in as usual..as I have been for the last 2 years..but to my BIG surprise there's a blog that says Jacob's got a job (WHAT?) and is retiring from ERE (REALLY?)!
hmm..it's most unexpected..but well..if it's really true..then congratulations Jacob! I guess you'd hinted about trying something in the financial world in some old posts...so good for you.
...and thanks again for all the support...for so long. I can't speak for anyone else, but I learned more here about some VERY IMPORTANT things -that could transform my life itself, than in any other place...virtual or real..so much that it changed my complete outlook towards virtually everything...and I REALLY feel more in control of my life than ever before. That's probably more than I ever hoped for when I found ERE back then...so well...thanks again..and good luck in your new ventures.
After typing in all this...I'm now really hoping that was not a prank or something...lol.
Jacob's ERE from ERE???????????????????????
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MountainMan
- Posts: 33
- Joined: Fri Nov 04, 2011 10:46 am
Well I'm not surprised at all, it was hinted many times recently. The next time I see a flash crash or yet another algo going beserk, I won't be able to stop thinking that it might be Jacobs fault 
Happy unretirement Jacob (can you throw an unretirement party?), and a big thanks for this eye-opening site and bringing such a fantastic crowd together on the forums.
Happy unretirement Jacob (can you throw an unretirement party?), and a big thanks for this eye-opening site and bringing such a fantastic crowd together on the forums.
I am also unsurprised. Not to put words in Jacob's mouth, but it always seemed to me that a major part of going ERE for him was just proving that it's possible. Once you've proven that, time to find something else to do. I suspect also that anyone with the discipline and determination it takes to keep up a 75% plus savings rate is always going to need some kind of really absorbing "project" to keep themselves going.
What will be more interesting to see is 1) how long it takes for this new project/problem to be "cracked" and 2) whether Jacob starts to suffer the ill of lifestyle inflation once he's pulling in the $$$.
What will be more interesting to see is 1) how long it takes for this new project/problem to be "cracked" and 2) whether Jacob starts to suffer the ill of lifestyle inflation once he's pulling in the $$$.
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jennypenny
- Posts: 6856
- Joined: Sun Jul 03, 2011 2:20 pm
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DividendGuy
- Posts: 441
- Joined: Sun Dec 05, 2010 9:58 pm
I left Jacob a lengthy reply in his blog post, but I think I'm not alone in thanking him for the tremendous inspiration and encouragement to seek an alternative to the traditional work-spend cycle.
I wish him the best in his new adventure in high finance!
Everyone: Don't let the dream die. Let's all keep the forums active and engaging. This is one of the best spots on the entire internet, in my opinion.
I know that Jacob personally inspired me to start my own blog focused on frugal living/investing/retiring early and my journey on such.
www.dividendmantra.com -- for anyone so inclined to stop by from time to time.
Best wishes Jacob!
I wish him the best in his new adventure in high finance!
Everyone: Don't let the dream die. Let's all keep the forums active and engaging. This is one of the best spots on the entire internet, in my opinion.
I know that Jacob personally inspired me to start my own blog focused on frugal living/investing/retiring early and my journey on such.
www.dividendmantra.com -- for anyone so inclined to stop by from time to time.
Best wishes Jacob!
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dot_com_vet
- Posts: 603
- Joined: Mon Jan 31, 2011 2:07 am
I have to say I was very surprised!
But, I can see a lot of people living this way, alternating between working and an "ere" like life. I know it's common in Asia. Maybe this is the future and economics will dictate it?
I hope to see some posts by Jacob comparing the lifestyles. Heck, just posts about frugal living in Chicago would be interesting alone. With Dunkin' Donuts all over the place, will Jacob be able to resist a consumer lifestyle?
All the Best, Jacob!
But, I can see a lot of people living this way, alternating between working and an "ere" like life. I know it's common in Asia. Maybe this is the future and economics will dictate it?
I hope to see some posts by Jacob comparing the lifestyles. Heck, just posts about frugal living in Chicago would be interesting alone. With Dunkin' Donuts all over the place, will Jacob be able to resist a consumer lifestyle?
All the Best, Jacob!
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DividendGuy
- Posts: 441
- Joined: Sun Dec 05, 2010 9:58 pm
@dot_com_vet
Great points!
I'd love to see some insights on frugal living in Chicago. I wonder how the DW is taking the move as she was working last I knew? I wonder if she got a transfer? But, Chicago is one of my dream cities and I'd love to live there for a year or two once I attain FI. Definitely looking for frugal tips in the big city!
I'm also wondering about alternating between working full-time and taking a year or two off while one pursues other interests and activities. I suppose seasonal work or freelancing could fill this as well. I'm ultimately looking for full freedom from wage slavery, but as I get close it could prove tempting to quit full-time work and seek out seasonal or part-time work while still having time off to pursue personal interests.
Good stuff!
Great points!
I'd love to see some insights on frugal living in Chicago. I wonder how the DW is taking the move as she was working last I knew? I wonder if she got a transfer? But, Chicago is one of my dream cities and I'd love to live there for a year or two once I attain FI. Definitely looking for frugal tips in the big city!
I'm also wondering about alternating between working full-time and taking a year or two off while one pursues other interests and activities. I suppose seasonal work or freelancing could fill this as well. I'm ultimately looking for full freedom from wage slavery, but as I get close it could prove tempting to quit full-time work and seek out seasonal or part-time work while still having time off to pursue personal interests.
Good stuff!
It's certainly deflating on some levels - especially my self-centered level of being on the cusp of pulling the trigger, and seeing ye old Jacob arguably change course.
That said, I think there's so much good advice on his blog and this forum, that although I might disagree quantitatively with specifics from time to time, his book and this forum are great qualitative resources and they are much appreciated. In other words, run your own numbers and be your own man/woman, but the general advice found here is rarely misleading.
That said, I think there's so much good advice on his blog and this forum, that although I might disagree quantitatively with specifics from time to time, his book and this forum are great qualitative resources and they are much appreciated. In other words, run your own numbers and be your own man/woman, but the general advice found here is rarely misleading.
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secretwealth
- Posts: 1948
- Joined: Mon Jun 27, 2011 3:31 am
Jacob may not want to address this issue, but I'm curious if his lifestyle is going to change much when he's a quant. From what I understand, quant traders make a lot of money--with commissions, they are easily in the top 1%. Can someone in the top 1% maintain an RV lifestyle while working alongside mansion-dwelling Benz drivers?
@secretwealth: yeah, I was really wondering about that too..but was not sure if asking would be a little too inquisitive...I'm curious about how the transition would affect Jacob's ( or anyone else's, who goes through similar transitions) lifestyle.
Re-entry to the workforce is one aspect of ERE we've not talked about much here.
I had started a thread a long time ago asking if people would change their lifestyles if they were to win millions in the lottery. I remember the unanimous answer was NO. But, it's often difficult to not try and fit in ( I should know..I'd once written about my experiences- not good, when trying hard to not fit in at work.)
@Jacob: we're looking forward to updates, maybe an occasional post or something?
Re-entry to the workforce is one aspect of ERE we've not talked about much here.
I had started a thread a long time ago asking if people would change their lifestyles if they were to win millions in the lottery. I remember the unanimous answer was NO. But, it's often difficult to not try and fit in ( I should know..I'd once written about my experiences- not good, when trying hard to not fit in at work.)
@Jacob: we're looking forward to updates, maybe an occasional post or something?
I work as a programmer with quants and traders, some extremely wealthy.
It's entirely possible to blend in. First off, you never see where people actually live. Or, rarely, what they drive, if you live in the city.
The only way you can really tell these people are rich is that they wear well-tailored, high-quality clothes. I can get by wearing cheap Macy's semi-formal clothing. Even high-quality clothing isn't all that expensive, if you don't wear a lot of it and take care of it.
No one really boasts about doing expensive things, as far as I can see. Sure, if you ask what someone did on the weekend, maybe they went to the Hamptons or whatever. But mostly people don't care.
So, I think it'd be possible for Jacob to fit in with a new wardrobe and a small apartment, if he's working in a city and doesn't want a long commute.
It's entirely possible to blend in. First off, you never see where people actually live. Or, rarely, what they drive, if you live in the city.
The only way you can really tell these people are rich is that they wear well-tailored, high-quality clothes. I can get by wearing cheap Macy's semi-formal clothing. Even high-quality clothing isn't all that expensive, if you don't wear a lot of it and take care of it.
No one really boasts about doing expensive things, as far as I can see. Sure, if you ask what someone did on the weekend, maybe they went to the Hamptons or whatever. But mostly people don't care.
So, I think it'd be possible for Jacob to fit in with a new wardrobe and a small apartment, if he's working in a city and doesn't want a long commute.
I too congratulate Jacob.
The thread on early-retirement.org discussing this had some questioning whether Jacob gave up on the ERE lifestyle or not.
I posted this, and wanted to cross-post it here for thought:
"HERE'S the litmus test: what will his spending be after starting w*rk again?
He always espoused the low expense (I think his yearly budget was something ridiculous like 7k/yr.. Maybe 12k), minimalist lifestyle. Lots of DIY (like the rake example given above), etc.
If he's quitting ERE for the challenge, he'll continue the same lifestyle, albeit with a larger portfolio.
If his yearly budget balloons, then it seems that he was living that way out of necessity (too small of a portfolio, as some here said), rather than an actual belief and lifestyle decisions.
Be interesting if he shares if his budget balloons up or not."
The thread on early-retirement.org discussing this had some questioning whether Jacob gave up on the ERE lifestyle or not.
I posted this, and wanted to cross-post it here for thought:
"HERE'S the litmus test: what will his spending be after starting w*rk again?
He always espoused the low expense (I think his yearly budget was something ridiculous like 7k/yr.. Maybe 12k), minimalist lifestyle. Lots of DIY (like the rake example given above), etc.
If he's quitting ERE for the challenge, he'll continue the same lifestyle, albeit with a larger portfolio.
If his yearly budget balloons, then it seems that he was living that way out of necessity (too small of a portfolio, as some here said), rather than an actual belief and lifestyle decisions.
Be interesting if he shares if his budget balloons up or not."
My question for Jakob this morning, perhaps someone else would like to consider:
I wonder how a job in finance can be considered "It’s a hard problem... no politics..."
No party politics, perhaps but surely it's a wholehearted political/personal vote for capitalism.
Are there no other hard problems that don't involve personal financial gain? What about energy, food, water shortages are all problems that will require good, strategic thinkers if we are going to survive the next 100 years. Even today many people lack these essentials.
I wonder how a job in finance can be considered "It’s a hard problem... no politics..."
No party politics, perhaps but surely it's a wholehearted political/personal vote for capitalism.
Are there no other hard problems that don't involve personal financial gain? What about energy, food, water shortages are all problems that will require good, strategic thinkers if we are going to survive the next 100 years. Even today many people lack these essentials.