4 Lessons For Anyone From The FIRE Movement

At first glance, those of us who have been steadily socking away funds and dreaming of retirement in our fifties or sixties don’t hold much in common with those who plan for a FIRE retirement. Unfamiliar with FIRE? The Financial Independence/Retire Early movement has gained traction in recent years as more flexible working arrangements and an awareness of the lifestyle via social media have increased.

While there are varying definitions of FIRE, some key attributes unite most, if not all, individuals who believe in this philosophy. FIRE adherents spend consciously, allowing them to save more than average during their pre-FIRE working years. They often find ways to enjoy meaningful activities without spending a great deal of money. Far from being lazy or “slackers,” many people drawn to the FIRE lifestyle are overachievers who want to make the most of the time they are given. In fact, those in the FIRE community often continue to work in some capacity even after declaring themselves “retired.” This may lead others to question their candor—“Hmmph, you say you’re retired, but you are still working!” On the contrary, this is fundamental to the independence piece of FIRE; they strive to reach the point where they are not required to work; paid work is a fulfilling choice. If not retired completely, FIRE folks have more than likely transitioned from a traditional full-time career to one that maximizes time freedom and independence.