this post was submitted on 14 Jun 2023
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FIRE (Financial Independence Retire Early)
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Welcome!
FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.
Flow Charts:
Personal Income Spending Flow Chart (US)
Personal Income Spending Flow Chart (Canada)
Personal Income Spending Flow Chart (Australia)
Personal Finance Flow Chart (Ireland)
Useful Links:
Mr. Money Moustache - a frugal lifestyle blog
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Thanks for sharing! I'm not much of a podcast person, but there is definitely a spectrum to FIRE.
The main principle to success is definitely just being intentional with your spending and understanding the trade offs. You can have your super frugal Early Retirement Extreme adherents who believe in living an ascetic life to retire asap. Most people can't live long term like that and definitely need a more moderated approach.
I've increased my spending over the years to include things like international travel and expensive hobbies, but those are the things that make life more worthwhile for me. On the flip side I do what I can to make the rest of my life more frugal to offset my higher spending in other areas. Yeah, I won't be able to retire on a $15k yearly budget, but I will enjoy my life along the way and still be able to retire in my 40s.
Afford Anything by Paula Pant is also a good blog/podcast about intentional spending in pursuit of FIRE.
I've heard Paula Pant mentioned a bunch of times, it may be time to check her content out.