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FIRE Movement > FIRE Terms

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message 1: by Anthony (new)

Anthony (drfinance) | 38 comments Mod
I applaud FIRE and some of the terms that they use. Actually, I applaud anything positive that helps market the beautiful science of finance. But this movement is overdue for a brief clarification of terms before it wastes energy going the wrong way. “Financial freedom” generally can be interpreted two ways. Practically it almost means the same thing as financial independence and retirement: you work because you want to and not because you have to. But when taken literally, “financial freedom” is nonsensical. As I argued in The Necessity of Finance book, finance is necessary for Everyone ALWAYS. Rich or poor, we are never really “free” from needing to apply the lessons of finance. Actually when we make enough money to reach the status of what is practically referred to as “financially independent”, then we need finance even more to maintain our wealth. Finance is inescapable!

message 2: by Marc (new)

Marc Page (marcpage) | 12 comments Agreed. I see financial freedom more from the aspect of being the opposite of financial bondage, or debt. The three things I see that are the biggest impediments to people loving the life they’ve always wanted are taxes, status living, and debt.

I’m not too well versed in the FIRE movement. From what I’ve heard the ideals are terrific, the idea of having financial independence and being able to love the life you’ve always wanted (often referred to as retirement). Some of the things that concern me that I’ve seen from people implementing what they call FIRE are: (1) the idea that you have to do whatever it takes to stop working as soon as possible, including diminishing your life (instead of actually loving the life you’ve always wanted), and (2) the idea that retirement means sitting around doing nothing (no longer adding your unique value to the world.

I could be totally wrong on those ad that is only my perspective from the outside (I haven’t yet delve into the official times of the FIRE movement) that’s just my observation from seeing how some people have implanted it

message 3: by Anthony (new)

Anthony (drfinance) | 38 comments Mod
Thanks Marc. :)

Group, what are your thoughts on Financial Independence Retire Early? Anyone here deep in the FIRE movement?

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