Comments on: Financially Independent Retired Early: Flaws with Philosophy?

By: Lenore

Lenore — Thu, 08 Mar 2018 16:49:34 +0000

In reply to GOFU. Haha so true!!!

By: GOFU

GOFU — Sun, 18 Feb 2018 14:23:16 +0000

In reply to Brian.

I love reading comments like this one from Brian. It boils down to “Well, we had high earning capacity and made a ton of money, much more than we needed to live, and we saved it and invested it over a long career and have high capacity for analysis and basically avoided every pitfall the article is designed to highlight and now have much more than we need and have a great life (did I mention we have a great life?!), so what’s the problem with all these rubes who can’t do what we did?”

Exactly what does this tremendous success story have to do with the risks pointed out in the article? So you were smart and avoided these risks and have had good fortune besides. You’ve got it all figured out and I am happy for you. But really, so what?

Comments like this one exemplify a more fundamental issue in the FIRE set. It is all just another form of keeping up with the Joneses. Mr. & Mrs. Jones will tell you all about their new car and their high-end appliances and their recent kitchen remodel and the new string of pearls from Saks Fifth Avenue. Among the FIRE set it is along the lines of “What do you mean you had to work until age 43? I, myself, retired at 30. And I don’t even look at my portfolio any more. By the way, did I show you the pictures of our year in Thailand?”

I am all in favor of each person becoming financially independent, and the sooner the better, so as to maximize liberty and the pursuit of happiness. But so much of this FIRE fad talk practically deifies leisure and is just another form of boasting designed to impress perfect strangers with pseudonyms on the internet. Just another Mr. & Mrs. Jones at a country club cocktail party.

By: Berenice

Berenice — Sun, 24 Sep 2017 20:06:48 +0000

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By: Jane

Jane — Mon, 18 Sep 2017 06:50:37 +0000

Superb comments! – Premised, as always, on actionable content. Thanks to all.

By: Sue

Sue — Mon, 31 Jul 2017 18:28:10 +0000

Have you always been your own boss? If so, that may frame your reference in a big way.

By: Steve

Steve — Mon, 31 Jul 2017 17:38:46 +0000

In reply to Jeff. Good points Jeff. You make a useful and important distinction...

By: Jeff

Jeff — Mon, 31 Jul 2017 17:30:08 +0000

Most people that I encounter in the FIRE community are actually more focused on the FI portion. Granted I am a relatively new member but it seems that the community is growing into two distinct groups. FI for me means the ability to branch out and try new things from a position of strength.
I think your article should be thought provoking for anyone considering FIRE. If its not, they could very well be one of the people your discussing.

By: Steve

Steve — Sun, 30 Jul 2017 13:16:25 +0000

In reply to Steve.

Steve, I would agree with your suggestion that FIRE is pretty benign if all it does is encourage frugality and saving.

But those other two points you make–retiring before the numbers say person is ready or focusing on retiring from a hated job rather than finding something better–those are perfect examples of risks or flaws I’m talking about.

By: Steve

Steve — Sun, 30 Jul 2017 04:47:58 +0000

In reply to Steve. Good points.

By: Steve

Steve — Sun, 30 Jul 2017 04:47:17 +0000

In reply to Toby.

>”…I don’t know many people who can FIRE without working first…”

Agree. You’ve said this better, Toby, than I did.