Today on the Finance Flash Go! podcast, I’ll share my thoughts about FIRE and what it means!
Listen to the full episode and subscribe here!
What is FIRE?
I’m gonna keep this real brief.
If you go online to any forum, you will find intense arguments about what FIRE means, what it is and what it isn’t. Is the blogger technically on FIRE if she still blogs to make money?
Who cares.
The thing is that it doesn’t matter at all what anyone else thinks. FIRE is personal. It’s a one woman or man game. You compete against no one but yourself. (And trust me, you are fierce competition enough!)
This is what FIRE is (to me, of course). But I think this is a generalizable definition.
FIRE is living life on your own terms.
It has nothing to do with finance per se.
However, finance is likely the biggest restraint to living life on our terms for the average human. This goes for those in both lower and higher socioeconomic levels. Sometimes it’s even easy to wonder if it can be a bigger restraint in the higher SES strata.
(P.S. It’s not. But the fact that some high income earners place themselves in self imposed golden handcuffs is a very avoidable fate…)
So, that’s what FIRE means to me. I want to reach financial independence to live life on my terms. Honestly, things may not change very much externally when I reach FIRE. But internally, the change will be immense.
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