Home » The FIRE Movement: Our Honest Thoughts On Financial Independence Retire Early financial independence retire early

The FIRE Movement: Our Honest Thoughts On Financial Independence Retire Early financial independence retire early

We’re sharing our honest thoughts on the financial independence retire early movement (FIRE). Have you heard of the FIRE movement? It’s all about reducing expenses and boosting your savings rate so you can retire in your 30s, 40s or even younger.

Yes, it’s entirely possible to reach financial independence in your 30s. But is the FIRE movement the key to a happy life? Watch the video to hear what we think!

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42 thoughts on “The FIRE Movement: Our Honest Thoughts On Financial Independence Retire Early financial independence retire early”

  1. I really agree with the things you are saying about FIRE. What I really like about the FIRE moment are the fundamentals of the moment. I think the Fundaments of the moment are really great as a tool for low income families or individuals to prepare for retirement. Or maybe save for very large expensive that could take years and years to save up for. I myself am such a worker Bee that I can't image what I would do with my life if I didn't work at the age of 40 or 50. However I like the idea of being able to save a lot of my lesser income to be able to avoid having to get a auto loan. Or maybe even have the possibility of buying a house in cash when I am 50 or 55 just before retirement.

  2. I have never heard Pete Adeney criticize people for not following the FIRE path. He is also quite transparent about making 400k/year from his blog, etc. Like Vicki Robin, he quite inadvertently found himself the leader of a movement. There are many takes on FIRE. Robin feels some in the movement lack vision; it's just a money game for them. Some retire early and get bored. Even Sam Dogen went back to work when he had a child – since children cost money. 🙂

  3. Not pragmatic in the U.S. for peeps that want a family. However, the frugal living can help you retire in early to mid 50's. Which is early. You see, in the US, to get the max benefit from SSA, you have to work 35 years. They use your highest 35 years of earnings to calculate your benefit. Retire too early and zeros are averaged in. Thus, reducing your benefit. Did you know your SSA pays your Medicare supplement? Dont sell yourself short by retiring in your 30's or 40's. Get your 35 years of work history in. (age 18 to 53) is reasonable. Then, retire early.

  4. I want to do FI so that I can afford to spend time on areas I’m interested in and develop myself this way. I’m too afraid to go for it without having a financial backing so that I can afford to fail.
    Interesting to hear a different view on this though, thanks.

  5. Generally I agree with your perspective on some of the people who advocate fire and their views on the 9-5ers, but I disagree with you on your views on fire and the workforce… 1- because a new generations are always coming up in the workforce so just because some people are leaving the workforce doesn't mean reduction in the workforce.
    2- Imho I think more people pursing FI will result in the scales tipping in favor of the working people and not so much the corporation which may result in positive changes like increasing wages and reducing the work day/week as opposed to having to work 40+ hrs/wk (the new standard) to build wealth or in some cases just make ends meet.

  6. I absolutely love the last point. If there I is something that you don’t link in the industry/ sector that you are in, create to make it better because there are many more who feel how you feel.

  7. Also your comment about choice at the end. That's a really privileged perspective. Many people do not have choice and are stuck in terrible situations of poverty, discrimination, abuse and exploitation. More than most privileged people want to accept or acknowledge. It's amazing what you guys have done but it's not the norm for many. I see comments from teachers and nurses who love their jobs and I have a very fulfilling career in mental health. But that's not the norm and those are not rat race jobs. Those are very very good jobs. At least in Canada teaching is a very very very good job. I know I'm so lucky to have come from poverty and made it out to have a fulfilling job that's not back breaking or soul crushing. But I still have family who are working their butts off in terrible jobs and teaching them about FIRE will help them not make someone else rich so they can pursue what make them fulfilled and happy instead.

  8. I think you're misunderstanding FIRE. Everyone I've talked to about their FIRE plan was not about looking down on working regular jobs. Everyone I've talked to want to "retire" early so they can do what they want and for some it was getting a lesser paying job that they loved so they can enjoy their work or continuing to do the job they loved without the pressure of "having" to work because they'd be homeless if they didn't. You're really generalising by saying the FIRE movement is about putting down working. My goal is to be able to work in my profession with less anxiety about having to work but working because I want to. And so I can have time to volunteer and travel. I will still be consuming and paying taxes and contributing to society. I will also have nice things and eat well and be productive in society. The difference is I'll be young enough and healthy enough to do it.

  9. Wow Tasha! You explained it so beautifully! It has become so popular to criticize the 9-5 work schedule. People ARE doing amazing work out there, as you stated, and there's nothing wrong with this path.

  10. I was interested in Fire not because I wanted to retire early, but because I want to work my dream job which doesn’t pay much. I would like to have the financial stability to choose a job I would enjoy and not stress about money. I have taken many jobs in my past that were for the money and I was not happy. I am trying to find a balance in which I enjoy my work and I don’t stress about how little it pays.

  11. This is my first time watching you both, and I absolutely love the balance in opinion in this video. My favorite is Joseph’s comment about creating an environment in the workforce to help others. Essentially paying the financial independence forward because we are here(on earth) not only to gain but to give as well. #NewSubbie

  12. It really bums me out that so many folks that have never heard of FIRE, will end up throwing the baby out with the bath water, over the Retire Early definition. The whole movement is about freedom of choice and the peace of mind that Financial Independence brings. Its about taking your life back and never being beholden to a system or employer. To have the choice to pursue your passions whether they provide an earned income or not.

  13. Often people think financial independence and retirement is nirvana and never ending happiness…

    Achieving financial independence is simply about stuff. When you have enough stuff then what? What's your purpose?

    Seek wholeness…. instead of seeking happiness. Trust me. You'll be a lot happier 🙂

  14. My neighbor’s daughter made multi-millions when she and her partners sold their company. She has not worked in decades. She’s still financially ok right now but her mom told me she’s worried about her because she’s draining her cash and she’s getting to the point of reaching an age that limits her employment opportunities. We will see how it all plays out.

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