A Simple and Straightforward Take on the FIRE Movement

Financial Independence Retire Early may be passé but its principles are forever

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Photo by Anita Austvika on Unsplash

Did you hear? FIRE isn’t cool anymore.

If you don’t know about the FIRE (Financial Independence Retire Early) movement, it can be summed up in one sentence:

A person saves an unrealistic amount of money in their twenties and thirties, invests it in index funds which they live off in 4% increments for the rest of their life, thus never having to work again.

It’s a very tempting prospect. So tempting in fact, I was a FIRE advocate for a few years. I wasn’t keen on the retirement bit but loved the financial independence bit.

Times change. The world changes. Nowadays, FIRE is little more than a pipe dream for most who are more concerned with grappling with the cost of living crisis and mega-inflation than they are about retiring at 40.

FIRE may be quenched, but that doesn’t mean its principles are dead too. They’re not. They are in fact kickass. They could make all the difference to your finances - and your simple life.

I may no longer follow a FIRE-based life, but the following 7 FIRE principles have stuck with me - and keep my head above water.