Comments on: The FIRE Movement. What is FIRE Finance and How Does it Work?

By: Diane taber

Diane taber — Wed, 14 Apr 2021 07:34:15 +0000

Hi we really want to get good with money. And finally get out of debt for ever and get this fire started. Where it ends up like an inferno. In regards to saving money. And sorting out our lives and finances and bills and wealth. As this needs to be done. Let me get at it and and start doing it. Thank you bye take care bye.

By: CryptoandFire

CryptoandFire — Mon, 05 Oct 2020 01:37:52 +0000

Thanks for clear guidance on the article. I already pursue FIRE but just starting it out with the journey in the last 3 years. It will take some time to FI and then RE.

By: out at 49

out at 49 — Mon, 24 Feb 2020 17:54:08 +0000

I made it….it was worth it. At 49 I was able to do a “light FIRE”. That is, I stepped out and took up a hobby that had some revenue. I am financially secure enough and young enough to do what I want to do when I want to.

While my peers were busy trying to out do one another with houses and cars I was working the plan. One must stay on course.

By: LF Tommy

LF Tommy — Fri, 06 Sep 2019 01:23:23 +0000

I love this FIRE write up. I totally fell into the “A financially independent person works because they want to, not because they need to.” I’ve enjoyed some real opportunities of passion and interest in my early retirement. I also enjoy early retirement when I am not working.

By: Peter Horsfield

Peter Horsfield — Mon, 04 Mar 2019 20:53:34 +0000

In truth the F.I.R.E. movement is about self-discovery, our authenticity, experiences and our journey towards personal mastery. The mastery of being able to better define, develop and live our own authenticity and to add value to others.

My fear is many in the F.I.R.E movement maybe more motivated to achieve the goal of financial independence and brag about it, than being motivated by the opportunity to behave more authentically and be of greater value to others.

Financial independence on its own, is not our solution. For many its allure and the effort required for its attainment is like every other form of escapism.

True fulfillment and mastery in life is attained through embracing all of it and its daily challenges including the unknown rather than seeking to escape it..

We are purified, strengthened, polished, attract and are appreciated more by others not for the things we have achieved but for the value we add to them and ways we have improved their quality of life.

This is why I have embraced the movement. Not because of F.I.R.E. but because of its real power in empowering self-discovery, authenticity, sharing in experiences and helping others while on our own journey of personal mastery.

Living each day in truth and expressing “our way of being”, we not only improve our own quality of life. We fan a universal flame and legacy for the F.I.R.E. movement, inspiring others throughout the world as a living example how we CAN make it a better place for all and our children’s children.

By: Bily

Bily — Thu, 08 Nov 2018 00:22:02 +0000

What I love about FIRE is that it promotes high savings rates, financial literacy, development of good habits, and acting with discipline.

But it makes me think a few things.

The picture is oversimplified. (Though one couldn’t expect otherwise, as this is a short podcast/blog and not personalized financial advice).

Tax is not accounted for — by rule of 25 – $1M does not equal $40,000 of income after tax takes a bite.

On the other hand, it also does not account for added benefits of CPP, OAS, and maybe GIS from the government.

And for many people, retirement to life of total leisure without any work is not the goal of most people (whether they realize it or not). Most will want to work, to contribute, and continue into older ages, though perhaps at a reduced capacity. Work life will taper off rather than just switch off. The goal for many is work-optional.

Anyhoo, great stuff, keep it up!

By: Greenbacks Magnet

Greenbacks Magnet — Mon, 29 Oct 2018 21:03:29 +0000

I really like this post. I think more people should at least attempt FIRE. Even if that goal is missed, think about where you will have landed.

Thanks,
Miriam

By: Financial Gladiator

Financial Gladiator — Wed, 19 Sep 2018 06:25:06 +0000

The problem I see most people on FIRE do is to invest everything in paper assets (i.e. Stocks, Bonds, Index Funds, etc.). I find this extremely risky especially given the last big crisis was caused by Debt; now we have double the debt or worse in the debt areas like public, corporate and personal. I believe the next crisis will hurt and as not too long away. On the other hand I observed other FI/RE community members never really stopping to work so the 4% rule sooner or later becomes meaningless as their Neat Egg keeps growing. After a career of living well within ones means, I don’t believe anybody who says I am fine not to see my nest egg grow anymore ever again.

By: Fritz @ The Retirement Manifesto

Fritz @ The Retirement Manifesto — Wed, 21 Mar 2018 18:02:58 +0000

Nice overview of FIRE, Mr. Fireman. If only we could count on 7% returns, every year, with no volatility! Sequence of Return risk is on my mind these days, given the high valuations and the reality that I’m only 81 days away from starting my FIRE. Ah well, I’m setting up a floor/ceiling variable spending strategy, and our withdrawal rate will be ~3%. I think it’s time to get out some marshmallows, I’m looking forward to enjoying our FIRE.

By: Wealthy Doc

Wealthy Doc — Mon, 19 Mar 2018 16:36:55 +0000

Nice summary!
I reached FI, but found I like my work still. FI allowed me to downshift to part-time though.