FIRE, or to give it it’s full name:
is a new way of thinking about retirement, and what that means – Indeed a FIRE retirement doesn’t actually mean that you never work again, just that if you do it is on your terms.
FIRE is something I believe can have a huge impact on people and how they think about money, purchases, and ‘retirement’ itself.
I talked about some of the possibilities with F.I.R.E. in a post on 21st century retirement.
There are two ways to make F.I.R.E. a possibility:
1) Earn More
“The harder you work, the luckier you get” very much applies – at one point I had 3 jobs at the same time, and was getting up at 4-5am regularly to start work.
Even if you are an employee working a lower level job, there are opportunities – BUT they will require exchanging some of your free time to get ahead.
2) Reduce your outgoings
I share here on how to reduce your outgoings so that you can concentrate your spending on the things that matter to you, and avoid spending too much on items that don’t bring worthwhile additional benefits.