Skip to content

WTF is “FIRE” and Why You Should Care

What is “FIRE” or “FI”

FIRE stands for Financial Independence Retire Early, and FI stands for Financial Independence. These terms illustrate a phase of life when you have enough money that you don’t need to work to support yourself anymore. Sounds familiar doesn’t it? But here’s the difference between traditional retirement: financial independence could be in your 40s, 30s or even 20s! 

Why you should care

You would have the ultimate freedom to control your time. Tim Ferris talks about controlling the W’s in our lives- what we do, when we do it, where we do it and who we do it with. Imagine this. We get to do what we want, when we want, where we want and who we want to do it with.

If we don’t want to do anything on a Monday then we don’t have to. If we hate working with that annoying coworker who flakes when they are handed responsibilities then we don’t have to. If we don’t want to live in Vancouver during the winter because the rain clouds are too dang depressing then we don’t have to.

Reaching FI gives us the freedom of choice. And you know what, we don’t have to wait until we are 65 to enjoy this freedom. With FI, some people have reclaimed their freedom in their 40s or 30s or even 20s. That’s total bonkers. I’m foaming at the mouth just thinking about this. I. Want. This. So. Bad. 

What’s The next step

Maybe you’re foaming at the mouth too. Maybe your next question is “how do I get there?”

There are three big money factors you can control

  1. Your income 
  2. Your expenses
  3. Your investments 

And by levelling up your skill sets in these three areas you can build a super highway to reaching FI. 

Leave a Reply

Your email address will not be published. Required fields are marked *