The Truth About FIRE

There's rarely any Youtube video that pokes at the FIRE movement. Here's one that honestly and gracefully poked at it.

Richard Coffin @ The Plain Bagel

Quoting - "Often I ll see someone promoting FIRE as something that comes down more to mindset than your circumstance as though it's something available to everyone."

Quoting - "Whether it's worth taking the risks and downsides associated with FIRE comes down to your own VALUE."


My takeaway on whether FIRE is for one or not is very simple - 

Can FIRE bring you what you desire and enjoy in life?


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Comments

  1. Most of us should pursue FI as one of our financial and investing goals and open up more options down the road. Not all of us need to FIRE!

    ReplyDelete
    Replies
    1. Hi Uncle8888,

      I fully agree.
      It is a means to help us open up more options down the road, it is not an end in itself.

      Delete
  2. Just like advertising & marketing BS, people focus on the fun of the RE part.

    Not on the sacrifices or slog of the FI process.

    Human tendency to think in short term, get things or achieve things quickly. I.e. get rich quick mentality.

    ReplyDelete
    Replies
    1. When RE is made to be like a dream, people sell FI ideas to those chasing this dream.

      However, lifestyle might change after one really retires. There's so much more free time one has on hand now that one doesn't need to commute and spend time working. One might spend his free time volunteering, pick up another hobby (that might generate some income) or partying more. So whether one spends less or more money than when he's working might be a big question mark. How much to FI remains a question mark and possibly a moving goal post for some.

      Delete

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