I will be 45 this year, just started a new job after being laid off 8 months ago, when I got a VERY good severance package, and I lived life to the max with my family. And I enjoyed every second of it, minus seeing my saving draining, even if everything was planned and I would not have part of those savings if I weren't laid off.
SO ideally I would try to work 10-12 years more and then retire, but not retire in the frugal FIRE way. I like to travel. I like to eat at good restaurant, or buy good groceries and cook them at home. I started playing drums and I will probably buy a better set in the future etc. I want to help my daughters going to university (we live in Europe) or finding their lives and be able to support them economically if needed.
So, as I write this, retiring in 12 years is probably a big utopia but... who knows?
I've known to greater or lesser degrees a few investment banker who largely retired very young. I'm sure their jobs were very stressful but they made bank and got out young and AFAIK never really regretted it.
In the end it's the mentality that matters.
In my very very humble opinion, there are no big differences, given the same economic landscape and possibilities for 2 individuals, when one obsesses over FIRE and another that obsesses over having to work and feeling bored if not working.
What you described seems the right balance, even if they overworked themselves too much for a few years. If they were able to pull the plug and enjoy life afterwards with family, hobbies, travels and pet projects, well, it was worth it IMO.
>possibilities for 2 individuals, when one obsesses over FIRE and another that obsesses over having to work and feeling bored if not workin
There are definitely individuals for whom work/salary is a means to acquiring a big enough pile to buy a nice house, travel, educate their kids, etc. I also worked with someone, who was by no means a workaholic, but didn't really like to travel, had a modest set of hobbies, and got bored around the house. So he mostly didn't take vacation and was very content to keep working.
I do want to retire, I just don't want to live frugally, or according to my own definition of frugality.
Maybe as others say I just need a big enough income for enough years.
SO ideally I would try to work 10-12 years more and then retire, but not retire in the frugal FIRE way. I like to travel. I like to eat at good restaurant, or buy good groceries and cook them at home. I started playing drums and I will probably buy a better set in the future etc. I want to help my daughters going to university (we live in Europe) or finding their lives and be able to support them economically if needed.
So, as I write this, retiring in 12 years is probably a big utopia but... who knows?