Hospice Nurse on How She Transitioned to a 'Work Optional' Lifestyle | FIRE Starters: MarketWatch

Hospice nurse Lynn Frair is working part-time through the coronavirus crisis, but she and her husband, Carl, have already saved and invested enough to make work optional.
Read her story on MarketWatch: on.mktw.net/39...
See this video on MarketWatch: on.mktw.net/3w...
Video directed by Brian Quist.
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[@simplebogle6106]

There are critics in the media who said the pandemic, with the associated market dip was the end of FIRE. If anything, people were shaken up and realized their secure job might not be there when times get rough. This ought to bring more people to pursue FIRE. Apparently the average savings rate in April was 30% which is great.

[@lynnfrair7029]

Yes!!!

[@thepenthouse1507]

Exactly. "Omg, I lost my job, what am I gonna do..." You could have saved... Or been fire.

[@akirebara]

I didn't lose my job but our company let go people who have been there 20+ 30+ years and that lit a fire in me to double-down even more on FIRE. I will NOT be at the mercy of a corporation.

[@Kozette007]

Yes. I’ve decided to move out the US so I can save more and have financial freedom.

[@notsopopularkid1238]

Unfortunately the stocks costs even more now

[@AutomotiveAnatomy]

I quit my job on Fiday. Although not 100 FIRE It was a great experience being able to walk away from “security.”

[@dancer1]

Nice! How did you get into security?

[@Merbella]

Congrats 👏 good luck.

[@Fitbyyah]

Congrats

[@eephilosophy]

I like her video and her message. It's amazing sometimes how people can be so polarized around FIRE. The simple point is that you should try to save, invest, and live below your means to weather unexpected events like Covid-19. Also, you end up with more time options in your life as time progresses.

[@lynnfrair7029]

Thank you @eephilosophy Exactly!

[@bagfitted1380]

Thank you Lynn for sharing. I personally think the word "retire" can mean different things. Back in the day retire meant watching TV, fishing, and traveling. I believe now it means "no more working for the money".

[@lynnfrair7029]

Exactly!

[@Arun71150]

I love the term ' work optional'.

[@Erin-rg3dw]

Agree, especially in her case, she felt called back to work not for money, but to help.

[@marinadacosta3766]

I must say, anything about nurses I tend to watch, it is inspiring to see another nurse within the FIRE movement, the flexibility she explained was great, that fixed number of 25x the annual income is something that I don't really understand on the FIRE movement and that has been putting me away from really pursuing FIRE. At the moment I work as a nurse in UK and save a little over 50% of my income, but I know I would retire in a different country and I'm single now but I expect to have a family and how to account for that? That is something Lynn seemed to be better at explaining, to be flexible. The closest I would see myself to pursuing FIRE would be, at present, coasting FIRE as I happy to work a part-time job I enjoy for many years, it gives me purpose and enough free time to enjoy my own time as well. Great video!

[@lynnfrair7029]

Love it!!!! 🤘🤜🤛

[@robc8892]

UK nurse here as well. Similar goals, plan is not be work optional in next ten yrs. Plan is get mortgage paid off, invest in index funds, mutual funds and dividend paying stocks. Also continue to live cheaply and progress professionally. Get rich slowly

[@V.Hansen.]

50%! Good job!

[@jeff1281]

I seen a lot of of fire videos. This one had a impact on me personally due to sharing the family's involvement . Very special adorable family and thanks for sharing..

[@lynnfrair6196]

Wow, thank you Jeff 🌟

[@jononfirebudgetinginvestin3897]

I’m loving the FIRE “range” that she describes! Life is so unpredictable (clearly) and a singular number might not be the best way to see it. I think that having a range, plus passive income, is the best way to do things. I love her energy. I’m COAST FIRE for that reason!

[@lynnfrair7029]

Thanks Jon!

[@madhuri1086]

@@lynnfrair7029 its a very informative video and i liked it so much , also could you share what ur investment portfolio mainly consists of , is it 100 percent buying stocks or index funds, real estate.

[@thinktransnational]

Love the range concept and the “work optional” idea which I suppose is another way to word semi-retired. Will definitely reconsider my FIRE journey based on a range moving forward.

[@Merbella]

Yes, the range advice was a good tip. 👍

[@lynnfrair7029]

Thank you! ✨

[@BrendanEvan]

First actual comment. My goal is to be work optional too!

[@katiejoffe2120]

Impressive. What a freedom in life this brings. Good work Frair family. Great content. Thank you for sharing!

[@lynnfrair7029]

Thank you Katie ✨

[@HouseofFI]

This just made me love 💕 Lynn even more. What a beautiful person.

[@dennisrivera4356]

Beautiful family. Thank you for inspiring us.

[@fhaf33z]

Yeah really nice family

[@odalissk]

I am happy to see her chart ! Vicki Robin explains how to make one in "Your money or your life" but I needed an exemple of how to implement it... and how to conceal it.

[@lynnfrair7029]

I love Vicki! I sometimes work along side her encouraging the intentionality aspect of FI/RE and the good we can do in the world when we acheive FI ✨

[@Starquasia232]

I love thissssssssss! I’m a nurse too!

[@lynnfrair7029]

Thank you sister!

[@christenford3864]

Another RN here! This was inspirational ♥️

[@Arun71150]

Ditto! 🥰

[@michellej737]

So inspirational

[@TheDstinfrared34]

I'm an nurse as well and this was very inspirational! I'm just hearing about the FIRE movement.

[@MohanadKhuraishi]

6:27 i love that way of thinking!! Wish you all the best! love the FIRE "Range"

[@FehadBilgramiChannel1]

Key point is here is to have a range and not a single 25x number. I like that concept.

[@Arun71150]

So proud of you Lynn!!

[@lynnfrair7029]

Thank you!

[@mucha9196]

I wish there was a step by step on how to start this

[@tonymp]

Lynn, can you elaborate more on your FI range and how you go about determining it? For the FI Number, I use it as a bare minimum of amount needed to retire (bottom of the range), anything extra would just be gravy.

[@lynnfrair7029]

Yes, for me it starts at 25x and for me can comfortably dip to 21x before I start to worry...the upper limit is obvs not a problem. The issue I see is that folks panic if the market drops. Each person needs to figure out the bottom limit for the range of what they are comfortable with...people will sometimes say 25x is their bottom. I really recommend considering a range, it helps with the psychology.

[@tonymp]

@@lynnfrair7029 thanks, much appreciated

[@cookingthebooks901]

Beautiful home.

[@hammerradiology1470]

I had no idea how beautiful the suburb of Seattle is...inspirational lady! All the best to you and your family.

[@mayb.3745]

Good for her! While the rest of the nurses are taking care on the frontline and seeing deaths every minute. Some have the options, but they opted to help us in the trenches.

[@bonsaikiss]

So they pay for their own health insurance

[@Fitbyyah]

🔥🔥🔥🔥🔥 is a must!

[@melfredolf]

I've worked in healthcare for 7 years. 5 years ago I had a coworker go casual and a light bulb went off for me to realize I didn't have to keep a steady line in this industry. So I was living in my tiny home trying to be frugal and not getting ahead. Then after 5 years of employment, a work party was put on for 3 of us care aides. Being I was still living so poor in a tiny home I was upset. Ultimately, I was upset with myself for not freeing myself sooner. When news in January 2020 was mentioning the rise in Coronavirus cases in Asia I knew there was a risk of this going global. So I went to the bank and plucked the meager savings they had which weren't growing, and threw them into crypto (which I was too chicken to go all-in with). 2 years later I think I'll be able to say I'm financially independent. After the last two years of working in healthcare, I'm all too ready to step back.

[@Merbella]

Very cool and inspiring 👌

[@lynnfrair6196]

Thank you Merbella🌟

[@nors3732]

Absolutely resonates with me ❤️

[@lynnfrair6196]

Wow, thank you Noreen 🌟

[@TheDjcarter1966]

FIRE folks all say the retire early part is different for everyone. The point is if you get the FI part right you can do whatever you want with the RE part...you can work but you don't have to.. FI means if you are working you can tomorrow wakeup and decide you know what I'm done and walk away from your job

[@Jane5720]

Great job on the bang cut

[@reneeclark45]

I'm confused about the range. Why would it be a problem to be above that top range number? And if it is no concern then don't you actually just have a number? (The bottom of the range.)

[@lynnfrair7029]

I recommend to consider a range because things fluctuate (certainly as we saw this year, and every previous year). If you save 25x then stop will you feel comfortable if it drops the next day to 22x? Usually not. So the solution for many people is to suffer the "one more year syndrome" and keep going in roles they are not passionate about in order to insulate against unknowns...a range is not for everyone, but it is what we have decided makes sense for us.

[@LizDC]

Your family inspires me!!! 💙👏🙏

[@lynnfrair6196]

Thank you! 😘

[@birdofpassage9875]

I am aiming to have 33x i.e. %3 annual expenses while only actually withdrawing by the traditional %4 not out of fear of overdrawing on investments during a market collapse, but out of lifestyle creep. The Trinity College Study factored in the start date sensitivity so I sincerely don't think that market conditions will have an impact over one's ability to FIRE. I have an expectation that lifestyle creep is an inevitable force that will be the true test of whether one could last through the FIRE journey

[@nithinravi4401]

Good video 👌

[@thepenthouse1507]

Don't look at indexes, they don't mean most stocks.

[@lynnfrair7029]

What do you mean by this? The idea of an index is that is "indexes" a certain section of stocks. Some of them index 3000 stocks or more in a single index.

[@morethanpixls]

If you're doing FIRE, invest in dividend income instead of the 4% rule. You'll never have to touch your principal whether it goes up or down. The game is owning more shares of companies that pay out a growing dividend.

[@Outta12]

What is her "range"? What number makes them work optional?

[@Jayjs20]

"I am married to my husband". Really.

[@andrewcrites438]

How do you get to FIRE on a 30k salary?

[@bjjfreak8261]

Invest all you can, and 2nd job/side hustles. VTSAX or VOO. Read "Simple Path to Wealth by JL Collins. Life changer. Good luck brotha

[@vanguardvaluist2614]

Be willing to do what most people won't. Invest 50% plus of your income. How? Raise income by cutting expenses and getting a better job or adding a side hustle. Have no debts, cut housing expenses by getting a room mate, ditch car payments & subscription services, don't eat out and avoid debt entirely while you stop buying crap going down in value. Do what other's won't and you'll have what others want! Index invest in VOO or another low cost S&P 500 index fund. This is a recording. Good Luck!

[@jessa1763]

What is FIRE?

[@Unequal1]

who tf wrote your title

[@Esthersnest]

🙂

[@drewconway7135]

2:40 “It’s a tremendous honor to be able to walk through folks in this difficult time.” Is she a ghost?

[@stephtraveler7378]

Couple of items that jump off the page.... Your transportation budget is $185???? Two workers, two adult jobs, two kids, two insurance policies, two fuel and maintenance bills. All for $185? Really? Second, please don't get offended by this: Please go visit a retirement home. There is NO ONE your size there. For the most part, only skinny people live long lives. If you want to live to your 90's, get control of your health asap, make changes and chart the progress. Your health is infinitely more important than you financial budget.

[@fitybux4664]

FIREH = Financial Independence Retire Early (then start caring about your) Health. :-)