The FIRE way of life has been getting a lot more notice lately in mainstream media.
FIRE stands for ‘‘financially Independent, retire early’’.
It’s a life philosophy of smart, entrepreneurial, independentlyminded folk, often younger folk, who decide to live extremely frugally in order to save the bulk of their income to invest.
Their aim is to achieve financial freedom as early as they can by amassing sufficient wealth to provide them with a sustainable, and liveable passive income for the rest of their lives.
They refuse to take the traditional slow and steady route to amassing enough wealth to retire decently.
They do not aspire to own ‘‘stuff’’. They aspire to own wealth.
There are some profound lessons most of us could learn from FIRE devotees.
FIRE people set big, ambitious goals and set strategies to get to them.
FIRE people set their brains to work on the task of amassing the resources to live an authentic life that suits their natures.
They pride themselves in not being passive consumers living traditional live, and amass considerable ❚ Learn from the FIRE philosophy ❚ Set money goals ❚ Don’t be limited by society’s patterns of living
financial survival skills from their lifestyles.
All these things make them worth knowing about.
And they want their lifestyle to be known.
There are lots of FIRE blogs, so anyone wanting to emulate them, does not need to work hard in getting the template.
Like any way of life, it is not for everyone.
The question of what would happen to the world economy if everyone turned super-frugal overnight sometimes gets debated.
It’s a moot question because it won’t happen.
The FIRE philosophy saves individuals, not whole peoples.
FIRE lifestyles transform individual money lives, but only the clever and abstemious few who can live that way.
It’s also a philosophy that’s associated in my mind with the passion of youth. That’s great too. Getting ahead in your 20s makes it a heck of a lot easier later should you choose to couple up, and have children.
Molding a wife/husband/ cherished loved one, not to mention the children, to live a FIRE life is a topic I’d love to know more about.
Some critics query the apparent FIRE assumption that early retirement is good, but hey, if FIRE people can find a way of living that works for them, that’s their business.
I don’t even find myself bothered by the tinge of religious fervour about the FIRE movement, and its faint sense of disdain for all those living traditional lives.
Many social movements have sought to define themselves in opposition to the mainstream. A little ‘‘them and us’’ is understandable.
Having a real FIRE friend in your life is a blessing.
It keeps you honest when appraising your own spending habits, and leads you to question the assumptions you have around what you can achieve.
I worked with one for years. Fiercely bright. Fantastically selfled. Huge conviction.
A FIRE friend opens your eyes to what is possible, which can help you to light a fire under your own savings, and take a match to wasteful spending.
The FIRE philosophy is amassing wealth, not ‘‘stuff’’.