Whoa whoa whoa! What’s this FIRE thing and why is it better than sex? Welcome new readers. Yes, this title is clickbaity, but don’t leave yet. This post is going to be good. First, we’ll quickly go over FIRE. Then, I’ll summarize my FIRE journey and see why it is so great. We’ll circle back to sex at the end of the post.
What is FIRE?
FIRE stands for Financial Independence and Retire Early. These are two closely related concepts squished into one.
Financial Independence: Having enough money to fund your expenses for the rest of your life. The baseline for financial independence is having 25 times your annual expenses. Retire Early: This one is trickier. Some people think early retirement is to stop working completely. Other people have looser definitions. For me, it means leaving my well compensated engineering career to do whatever I want. You are free to define your own early retirement. FIRE: The best of both worlds. It is okay to have one without the other, but you’re missing something.
FIRE is the holy grail of personal finance. Once you’ve achieved FIRE, you’re at the peak of your personal financial success. Money will be a secondary concern and you can focus on life. Fortunately, FIRE is attainable for almost anyone and it is an awesome goal to have. It gives you something to shoot for. FIRE vastly improved my life and I highly recommend chasing it.
My FIRE Journey
Personally, FIRE was a revelation. I learned about FIRE around 2009 through personal finance blogs. At the time, you rarely saw stories in the mainstream media about a young person retiring early. There were great books like Your Money or Your Life and Early Retirement Extreme, but you’d never find them unless you were actively trying to