Home » Financial Independence Retire Early F.I.R.E – I Got BURNED! financial independence

Financial Independence Retire Early F.I.R.E – I Got BURNED! financial independence

Here’s my experience and history with the F.I.R.E. community and how I got BURNED! Even though I got completely demolished in my first experience, I’m giving it another shot. I still don’t feel like I’m the typical “f.i.r.e” practitioner, I’m taking another look at the parts of the movement that apply to me.

The FIRE community promotes strategy of saving a radical amount of your income in order to achieve financial independence quickly. It’s characterized by extreme savings, frugality, and investment. The definition of Financial Independence = income from investments covers cost of living. When I first came across the community, I felt like the FIRE movement wasn’t for people like me. I felt like I was “too old” (I’m in my 30’s) and not ready to make extreme sacrifices in order to achieve the radical goal of retiring in 10 years or less.

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I did a little bit of research and found out that there are several different “levels” of fire, including a “lean” or “thin” f.i.r.e version that involves a healthy rather than extreme frugality. This falls within my goals for sure and I’m planning to take another look at the movement and incorporate everything I can while still being true to my financial principles. I’m working to balance frugality and saving/investing while staying true to my principles and enjoying my life today!

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34 thoughts on “Financial Independence Retire Early F.I.R.E – I Got BURNED! financial independence”

  1. Thanks for being honest with your FIRE experience! It takes courage to give it another chance after that bad experience. I'm a believer in many of the concepts of FIRE and it provided me with the inspiration to go on my own FIRE journey. Every journey is different and personal, and I believe the RE(Retire Early) messaging can put unrealistic expectation on people and lead to undeserved disappointment in oneself. I like to change the RE to "Retire Earlier" because not everyone can retire in their 30s, 40s, and 50s but if you can retire a few years earlier (1,3,5, etc) or retire at the same age with a lot more savings, then it's a big win. I'm a big believer in saving as much as you can and investing it to get to achieve financial freedom but not to be too frugal where it will makes you too stressed or unhappy (what's the point of it then?). The trick is to save as much as you can and still be happy through lot of experimenting and honest evaluation of your consumption(does that new 7th suit really made me more happy?). Only you know if 10%, 30%, 50%+ saving rate is too much and not worth it. No, it doesn't make you weak, undisciplined or flawed because your saving rate isn't a high enough number. Good luck in your journey! BTW, I started my journey at 38 so its never too old to start! 🙂 It's about "Progress Not Perfection".

  2. FIRE is the dumbest thing I've ever heard. Advise goes like, save more money! Make more money and also save that money! Invest it in stuff! Yeah, no shit. Everyone's trying to get more money. You're not giving them good advice by saying make more money or "do good stuff w money". LMFAO XD

  3. This topic is very important. For years I struggled with outstanding debts, bills and my children's school fees. I was at a point where I wanted to give up when I came across YouTube about how to make and multiply your income through passive income. Fortunately, I had saved some money and decided to start an investment (with the help of an investment advisor). Right now I'm sitting at around 200k R.O.I. and have paid my debts in full

  4. Being Semi retired is the best and most sustainable. The key is to have all your debt paid off and your house. Keeping busy on what is important to you and making money at it is the greatest. I invested in cryptos and working on turning it into a business now. Semi retired at 41.

  5. FIRE is an interesting movement. Personally, I do focus on maxing out the tax-advantaged accounts and invest some spare change in a brokerage account. But I don't plan to retire earlier than 59.5.

    I want a problem to solve or understand constantly so work is satisfying (provided it is a job I enjoy doing or building my business.) I don't want to sacrifice my entire youth just working and enjoy life as it comes. The build up is more exciting to me than the end. If the build up was miserable, then the end is unfulfilling to me.

  6. Everyone would like to retire early. The point is being realistic about what it takes to get there. You have to anticipate substantial cost increases later in life when you may need assistance with daily living. All of these fire videos like to show healthy and relatively young couples enjoying life on the beach or on vacation – that's the pitch. The reality though is potentially running out of bread when you are old and can't afford it.

  7. It sounds like you simply aren't able to make the necessary sacrifices to get to your goal. Yes, you have to sacrifice lifestyle and sometimes friends. However, if you stop saving, that time is lost which could have been compounding. We have been in the best 10 year run in the history of the markets so if you aren't able to see decent results (not necessarily attaining FIRE) during this time period, you should definitely be looking in the mirror.

  8. Geo-arbitrage. (abroad) But: of course that depends on your retirement budget.

    For example:

    Ukraine already requires $ 2 300.-/ m as minimum income. (Dnipro airport)

    And you see how much you would theoretically need there/ m. (numbeo.com)

    Therefore you have to go to a country where you don‘t have to pay high or no income taxes @ all as an early retiree.

    I would suggest:

    Sandanski, Bulgaria


    DHA Karachi, Pakistan

    or Thiruvananthapuram, India



    I am only a genius.



    PS: & US citizens – always first resolve your tax situation.

    YouTube: Nomad Capitalist, Andrew Henderson


  9. Doesn't seem like you got what Ramsey actually preaches. Saving $1000 is the very first step to get you used to saving money. It's aimed at people who live paycheck to paycheck, blowing it all away on futile crap.

    After that you need to pay down your debts and build up your emergency fund to 3-6 months of expenses (in my case, I chose to make it a full year's worth, because I like to plan for the worse).

    As for the rest of the video – kudos for trying to understand it, but looks like you have a ways to go. Trying to hold on to "Quality of life" haha. Oh boy… Good luck!

  10. I respect your journey and decision regarding 'FIRE'. I don't prescribe to the Retire Early, but I am looking to build enough financial freedom to regain my time to use for myself and discontinue to sell my soul to Corporate America. I am not sure, however, how you got BURNED? I don't get it.

  11. Tithing ISN'T biblical principle. Show me the scripture where Jesus taught tithing. You believe and do what you want, but the church is just stealing from you. Jesus preaches GIVING. The tithe was meant for sacrifice and prepping.

  12. FIRE involves income and expenses. Mainstream folks overlook expenses. FIRE folks overlook income. You have to value your time. If you make $70/hr, you aren't getting ahead financially by mowing your own lawn.

  13. So Funny. I wasnt even looking for anything remotely about this video but i stumbled on it and was intrigued. Never heard of FIRE but it sounds pretty interesting. We opened up our own business in the middle of the Pandemic and so we are in the struggle.

  14. The idea of spending the next 35 years, 8 hours a day going to somewhere I don't want to be with making money for people I don't care about doing something I don't value makes me want to FIRE so bad. The idle rich are lucky.

  15. Im fighting on what is ok to say here, but I really enjoyed the video. You useally dont show muliti sides of you and it was awesom. Its Friday at 8:18pm WI time and I couldnt hold still to tell you during tomorrows 6am video.
    On a Finacial point I chose to get put of Debt first. So now put of Debr, I find that Im still silly with the spending and uncomfy with the saving part.

    When you had the 12 Step program to get out of Debt, did you happen to experience anyone with saveing fobia and what did you wittness for the advise givein to that person. I havent found anybody who can understand this mobey fobia I seem to have.

    Happy Friday, Christianna!

  16. Great video! I think the frustration you describe is experienced by a lot of people who are looking for other options than working until they are 100. LOL. One point you make that I find interesting is about the fact you could live on less but it would decrease the quality of your life or something like that. I think it’s worth pondering what makes a person happy in life and what gives their life meaning. Research completed on people near death indicates relationships, health, family and other “inexpensive” parts of their life gave them the greatest value. I always recommend people look over their spending for a month and really decide which purchases give them value. It’s amazing how just cutting back on some extras can really add up as you know. Ultimately, all of this comes down to one thing: freedom. The freedom to do what you want, when you want and not have to stress about how bills are going to get paid. Also, so many people have so much to give to their community and volunteer but are stuck working so much in a job each week they don’t have any time or energy left over. I think all of our local communities would be a lot better if people were able to contribute for the greater good. Great channel, I’m excited for more of your videos! Keep up the great work!

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