The "One More Year” Trap: FIRE, redundancy and 17 years of trying to get out of the rat race
This is the first post on this blog, so I’m just going to start with what’s on my mind: how my views on money and financial independence have evolved over the years, albeit a very abbreviated version.
Where It All Started
I grew up in a household where money was often the cause of fights. To me, money wasn’t about luxury - it was about not feeling powerless.
At 13, I picked up Rich Dad Poor Dad. Most of the details went over my head, but I understand the basic where your money need to be working for you. I started reading about personal finance and the idea of financial freedom -escaping the rat race, whatever that meant at the time.
As a sheltered student with no income, there wasn’t much I could do. Besides, I thought, how bad can working really be if everyone else does it?
First Job Reality Check
It didn’t take long to find out why a lot of people want to be out of the rat race. In one of my early jobs, I was so miserable I cried every morning before work. Quitting wasn’t an option as I couldn’t afford it.
One bad job doesn’t define an entire career, sure. You can switch companies. But I hated that feeling of being trapped. I never wanted to be in that position ever again.
Not knowing where I stood financially and where I will be in the future, I consulted a financial planner for forecasting. The verdict:
Good news: If I keep doing what I am doing, I’d retire fine… at 67.
Bad news: I’d need to work until 67.
That was terrifying. I didn’t mind working, but I didn’t want to have to work for another 40 years.
The Early Drive for Freedom
So, early in my career, my goal became simple: escape the rat race. If someone asked me why, I told them the elusive: I want to do what I want when I want. It wasn’t specific but it was a good enough why.
That motivated me to start investing in property. A few years later, the FIRE (Financial Independence, Retire Early) movement started trending, and it felt like I was on the right path. So, for years, I saved as much money as possible to buy my freedom from work.
It doesn’t sound very exciting, does it? Years of grinding and investing - very boring.
Things I’ve Noticed Along the Way
Two things stand out from those years:
The goalpost keeps moving. The number I thought would finally make me feel safe? My feeling didn’t change much once I got there. Each year, I found new reasons why I need more.
Work without joy grinds you down. Saving aggressively while doing work that drains you feels like life on repeat: wake up, work, watch the numbers go up (or if not, stress), and do it all over again. Thankfully, I eventually learned to spend on things that mattered to me. I’ve followed Ramit Sethi for years - his “Rich Life” concept helped me plan and enjoy my money more meaningfully, without guilt.
But that first point? I am aware of it happening but I avoided addressing the underlying beliefs. I knew my FIRE number. By most definitions, we’re there - or close enough. But in my head, it never felt like enough. I’d say things like, “Just one more year. Next year I’ll feel safe enough to take a break.”
Even after a personal loss last year and nearly burning out this year, I kept going. I told myself our investments could cover basic living costs, but without a regular paycheck? We’d be eating beans forever. So, another year of work. Always another year.
And Then… Redundancy
When the redundancy came, it wasn’t a total shock. The company had been restructuring for months, and people were let go each round. I was probably one of the few who kind of wanted it to happen (a nice payout and a few months off? Yes, please). Still, when it happened to me, I felt angry and insecure.
I knew, logically, I could take a long break. My spreadsheets said so. In fact, we’d reached FIRE for a basic lifestyle. But it didn’t feel safe. My instinct was to find another job immediately. If this had happened next year, I told myself, I’d handle it better.
I obsessed over the numbers, running the same calculations again and again. They gave the same answer: we’d be fine. But it barely helped. It became clear that while I’d been telling myself I was working toward not needing a job, I hadn’t learned how to live without one. Since my very first job, I’ve never been without work.
What I Learned From the Break
I found another job quickly, but for the first time in a long time, I allowed myself a long break before starting. Longer than I’d ever given myself in 17 years.
And for the first time, I slowed down enough to notice:
The years of saving and investing worked. I was too busy chasing “more” to realise we’ve already built a good safety net.
I still want more, but needing “just one more year” is no longer about survival. It’s habit and fear talking.
I actually enjoyed the break. Not having to wake up and “be productive” felt like freedom.
I’m giving myself one more year in a new role - not because I have to, but because I want to see if a change of scenery reignites my interest in this industry. If not, I’ll take that long overdue break next year.
It sounds the same - ‘I will do it next year’. But I’m no longer terrified of stopping. The fear is still there, but there’s excitement too.
Looking Ahead
I've come a long way. From a child who felt powerless without the resource called money, to a fear-driven young adult, and now, someone who’s realising that I have a choice.
Seventeen years ago, I set out to build financial independence so I’d never feel trapped in a job again. And I think I’m finally there.
It’s taken me a while to believe it.
I’m not at the point where I’ll never worry about money again, but for the first time, I’m ready to see what life looks like when I’m no longer running on fear.
This is the starting point.