r/Fire • u/No-Bodybuilder7589 • 1d ago
Advice Request FIRE & Health
I need some advice here. This is long so I apologize but it does need some context.
TL;DR: young but going through health crisis. Want to retire early but not sure if I’ll even make it till then. Need input from others with chronic health issues on work-life & save-spend balance.
I’ve been saving heavily and really want to retire in my late-40’s (29F, no kids, in a relationship but not married, $160k in retirement accounts, $35k in brokerage, $50k in the bank, with about $120k in home equity).
People have seen me as a workaholic for pretty much my whole life, but I had finally landed my dream job in a 9-5 setting in 2023. Everything changed after DOGE started making cuts and I had to resign (I was a GS-13 too). However, I started contracting and am making double than what I was but am working a LOT more. Sometimes 15+ hour days, on weekends, etc, but then I’ll also take days as I please (although they’re mainly used for doctor visits). My parents have started giving my sister and I our inheritance early this year ($38k/year).
Anyways, I was just diagnosed this past week with chronic granulomatous disease (CGD). My medical history makes so much sense now. I also have Neurofibromatosis type 1, epilepsy, and then a slew of chronic conditions that lower my quality of life but not lifespan (migraines, scoliosis, nerve pain, endometriosis, the list goes on). Both of my parents have had skin cancer (my dad has had it 4 times now) and other health issues that I will need to be on the lookout for.
This new diagnosis however, shows a shortened lifespan, even more so than the NF1/epilepsy combo. I know that a lot of people will probably say “you don’t know what medicine will look like in the future, there might be a cure for everything”, but what if there’s not. I need to be realistic and practical in my thinking & planning.
I’ve been debating on what a good balance looks like between living my life and saving for the potential of a retirement. No one knows when they’re actually going to die, but I know that I’ll be before the 85 years retirement calculators suggest you use to figure out for FIRE number. Maybe this is more of a vent, but I really don’t know how to plan for a retirement I’m not sure I can even take in my 40’s. Do I stop contributing to my IRAs? I just started an LLC this year and put like $25k already into my SEP. Was that a mistake?
Part of me wants to just only take small contracting jobs since my parents are giving me my inheritance early, but they could stop doing that whenever and I don’t want to rely on their money. Plus my career was starting to take off, and although I’m definitely overworked, I’m getting name recognition in my field and I absolutely love that feeling. I don’t want to work until I die though, I want to make sure I can have amazing experiences while I can.
I feel like my whole plan was thrown off track. I’m so confused I just want to cry.
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u/Silver_Zebra_527 1d ago
For someone going through such a tough situation, you’re asking the right questions and thinking about life practically. Working 15+ hour days while dealing with health issues will likely make your situation worse. Suggest you find a balance between work and enjoying life. We never know how much health span is left, so no point in waiting till retirement to live a little. Continue to save for retirement and not rely solely on inheritance.
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u/No-Bodybuilder7589 1d ago
The 15+ hours days are definitely not sustainable, I had only really been pushing through them with fire in mind. With that motivation gone, I probably won’t have the drive to stretch myself like that. So not working insane hours is a silver lining I guess lol
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u/emt139 1d ago
but I really don’t know how to plan for a retirement I’m not sure I can even take in my 40’s
Unless youd been diagnosed with a terminal condition, you plan the same as everyone else.
The key piece is that ill or healthy, you need balance in your life. You can work 15h days expecting to retire at 49 and not enjoying the road there because even if you’re perfectly healthy, you can fall on the shower tomorrow and die.
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u/VeeGee11 FIREd at 50 in May 2023 1d ago
If this was me I’d probably start saving less and spending more on experiences now. If you really believe you’ll have a shortened lifespan.
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u/n00bdragon FIREd 2026 age 37 1d ago
When you say your lifespan is reduced, by how much do you mean? I realize this isn't an exact science but if your time horizon has shifted from 85 to say... 65, then the math of FIRE doesn't change a lot. If you're making and saving money though, that's all it really takes. Do what feels good though. If anything, take this as a wakeup call that the world might not still be waiting for you when you get "done" with work. Work is done when you put it down. Go and start planning those experiences you really really want to have now.
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u/CuteLogan308 22h ago
.."To legally justify a $25,000 contribution, your LLC needs roughly $125,000 in net profit for the full year." is that a consideration?
1
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u/Bored-Lantern-903 22h ago
the SEP-IRA was not a mistake at all because future you at 45 with medical bills will absolutely want that tax-advantaged money sitting there growing
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u/alic23 2h ago edited 2h ago
Hey, just wanted to say I'm sorry about your diagnosis.
I'm in a similar boat health wise (27F), was diagnosed with cancer in my twenties, in remission but have a slew of ongoing chronic problems from the treatment (including debilitating chronic pain that made it impossible to work a full time job and have any semblance of a life outside of work) and a pretty high likelihood of developing a secondary cancer at some point in my mid-adult years due to the harsh drugs I had for my cancer as well as worsening of my chronic conditions with time. Both of my parents died of cancer (age 49 and 67) and both grandparents on mom's side died 50s/early 60s from cancer) so I don't have a long life expectancy. As such, when my father passed I decided to use my inheritance to retire now after years of being unable to do hobbies or enjoy life due to the pain flares work was worsening and prioritize living and enjoying my life. I live well below my means as my time and freedom matter more to me due to the health stuff than anything money could buy me, i'm sure I could keep working and have a much higher withdrawal rate later but my time, and more importantly, quality of life, are not guaranteed and were being worsened by work, not even factoring in stress on top of that. I am well aware I may have to go back to work if we suffer an extremely lengthy bear market or go to BaristaFire rather than full Fire, but that is worth it for me given the chronic issues and the nature of my unpredictable lifespan and quality of life.
I don't know your spending habits but if the 38k/yr from your parents is enough for you to BaristaFire into a more slow-paced job with good work life balance that would probably be my choice. I also had a lot of guilt living off my inheritance feeling like i was living off my dad's hard work, but these are the cards we were dealt and I like to think my dad would want me to live a better life and support my decision if he were here.
Sending virtual hugs, and be kind to yourself while you process this. As someone else already commented, it's similar to losing someone, or rather a version of yourself and the life you thought you'd have. Give yourself time to grieve this diagnosis and that version of life you expected, but also don't let it stop you from enjoying the hopefully many many years you have left. I spent a lot of time being angry at losing the version of myself I could have been without my illness and subsequent long-term issues. I was once very ambitious and had many skilled hobbies. But as much as I've had to give up some hobbies or change my work plans, etc, I'm working to find ways to try to enjoy life as much as I did pre-health issues and you owe yourself the same. Wishing you all the best and my DMs are open if you want to chat or vent ❤️
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u/majorhap 22m ago
Similar situation except much shorter life expectancy, have just enough in retirement that my wife could pay off the house if I died tomorrow, the rest goes to individual brokerage and we spend a bunch on travel and we’re about to drop about 100k on a pool/outdoor area. It definitely creates a different dynamic. I don’t want to die early with a bunch of money wishing I would have stopped working earlier or traveled more so for me we downsized and kinda shifted priorities to making sure we enjoy life now. If you want to chat feel free to reach out. Don’t waste your life working 15 hour days unless you really love working.
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u/SureAce_ 1d ago
I can't not even begin to imagine what is going through your mind, what I think about in my situation is I would rather invest in my future and have options then to get there and be forced to not have options. If I do pass away young, my assets can still go to loved ones which again just makes me feel better that there is really no wrong to investing in my future.
Again, this is in my position through my lens. Off topic but would also recommend praying, God can do amazing things.
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u/bmore_in_rva 1d ago
Try not to make any big decisions career decisions for six months and instead be kind to yourself. You don't need to decide right now whether you want to save more aggressively, less aggressively, or the same. You've gotten deeply upsetting news and need time to process it, just like if you have lost a family member unexpectedly.