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F.I.R.E. Movement

Everyone desires the freedom to do what they like when they like and how they like it. That’s one thing that makes retirement kind of attractive. Yet, financial demands keep coming, and they have to be met. It typically takes so long to arrange your finances to the point where you may not need to work anymore, and even then, for most people, there are no guarantees. Then a bunch of youngies began to share on social media how they broke the unwritten rules and arranged their finances in less than 10 years such that they could get away from work! And they did!

FIRE means Financial Independence, Retire Early. It sounds theoretical, but it is the reality of several people. Maybe some are even around you!

First, you determine how much you need as monthly income to live without working: accommodation, feeding, clothes, travel, etc. Second, you research investments to determine how much you need to put in to have these monthly returns to cover your expenses. Third, you live a simple life and maximize your savings/investments till you have enough investments/returns to quit your job. Simple!

Maybe not so simple. The performance of the economy tends to be cyclical. And investment returns ride the cycle too. There could be times when the returns would dip and not meet up with the monthly expenses. What do you do?

Those who go for FIRE usually do not have school fees and other huge incidental expenses to take care of in the short run. And they do it not because they are lazy, but because they want to choose how they spend their time and lives! They travel to see new places and get fresh ideas of what they could make of their lives. Then they return to work on their own terms.

There are also the Digital Nomads who do not leave work but travel the world carrying their work with them. They work from anywhere with a focus on deliverables rather than on hours of work. Some countries have been advertising for digital nomads to come live/work in their countries, offering good accommodation, security, fast internet and plenty of sunlight.

As you press on to be able to make choices, keep in mind that there are several options and several realities!

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Image by StockSnap from Pixabay 

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