Updated: 2025
Over the years, I’ve noticed a lot of people suggest that FI requires too much sacrifice, which inevitably makes us unhappy now, all just so we can have freedom later.
The argument is that it’s not worth waiting so long to be free if you can’t enjoy life now.
But here’s the thing: if you’re miserable along the way, you’re doing it wrong.
Pursuing FI doesn’t mean choosing happiness now and freedom later. It’s not about endlessly forgoing things you want for some imaginary future.
It’s about being thoughtful with how you spend your time and money, so you can enjoy today while still building the life you want for the future.
Let’s dive in.
Multiple stories have surfaced of folks who ventured down the FIRE path, hoping to attain freedom in their lives, but later decided it wasn’t such a good idea.
I’ve taken snippets from the stories to use as examples, but the articles don’t deserve any credit so I won’t be mentioning them here.
Basically, they state that saving lots of money made them unhappy and so they decided the FIRE journey simply wasn’t worth it.
Many have quit the path altogether or greatly pulled back and extended their timeframe out much longer.
Should we be worried that this lifestyle is going to affect us in negative ways? Will we regret saving so much? Or will we regret leaving traditional full-time work so early?
I can’t speak to all complaints because, as is typical of the internet, these are never-ending! But let’s break down some of the stories I’ve seen, along with other common complaints.
One example I saw recently claimed that FIRE requires you to make big sacrifices—like turning down weddings or skipping date night.
Wait, what? Show me one blogger who says you must skip your best friend’s wedding or avoid spending quality time with your partner.
The main idea of FIRE is to cut out the stuff that doesn’t matter and focus on what does. If you’re choosing to cut out something that’s genuinely important to you, sorry but you have no one else to blame.
FIRE isn’t about making you sacrifice the things that matter most in your life—it’s about making smarter decisions about what you spend your time and money on.
I also saw a story about a couple who gave up their weekly coffee dates and pizza nights to stick to their 70% savings rate target. They thought cutting back on these small things was the key to reaching FIRE.
Let’s break it down. Skipping $30 a week on coffee and pizza? That’s $1,500 a year.
For a couple making $150,000, that’s basically nothing. It barely makes a dent in their savings rate. In fact, it’s 1% of their income. This means their savings rate would drop to 69%…. Instead of 70%.
Oh no, financial independence is ruined!
Obviously this is ridiculous. If you’re cutting out small pleasures like pizza or coffee that make such a small difference to your finances but you really enjoy it, don’t cut it!
The truth is, small sacrifices like these won’t affect your timeline in a meaningful way. Focus on what really matters.
So in this case, have the damn pizza night and coffee date and get on with it!
But there’s no need to abandon ship. These people have just created silly restrictions for themselves that aren’t necessary.
The next example I found was about the supposed problems with real estate investing.
“Another route for passive income championed by FIRE followers is buying real estate. But it’s not as simple as some suggest. One IT support professional bought a triplex to earn additional income.”
“She took a chance on an ex-convict who was recovering from an opioid addiction. But within a couple months, he quit his job and wasn’t paying rent.”
“Before she could confront him, he left the building with the house keys. Her real estate setbacks and recent relocation have made her rethink her early retirement goals.”
Renting to an ex-con and recovering drug addict, and managing the property yourself. What could go wrong?
But of course, all this is the FIRE movement’s fault. With risky investing problems like this, how is anyone supposed to reach FI?
Well, how about investing in something that’s DIVERSIFIED and, you know, ACTUALLY PASSIVE! Maybe an index fund for example?
There are countless investing options these days that are simple, reliable, and come with less headaches and concentration risks than having a couple of properties.
What they’re really talking about is consumerism—living a shallow, materialistic lifestyle that’s all about stuff. But here’s the thing: who says that’s the ‘good life’?
If we think about it for a second, how many celebrities are truly living “the good life”? They might have all the material things in the world, but they often deal with mental health issues, drug dependencies, shallow relationships, and a complete lack of fulfillment.
Now, here’s the kicker: I’d argue we’re already living the good life! We’re living at the wealthiest time in human history, in one of the most prosperous countries on Earth.
We have record levels of personal wealth, material luxury, and the highest living standards ever. Think about it: how would you like to have lived back in the early 1900s? Or maybe in rural Africa? Oh, doesn’t sound so great? That’s the point.
Our idea of “the good life” is completely skewed. We’re so focused on the small fraction of the world around us that we forget how much we already have. And here’s the thing—much of the world would consider us incredibly spoiled if they saw how we often look down on a simple life in Australia.
The problem is, we tend to measure ourselves against those just above us, thinking we’re somehow missing out.
But when you compare it to the rest of the world—past and present—we’re in the top 0.1% of people who have ever lived. So the next time you feel like you’re missing out, consider how lucky we really are.
That’s just not true. The numbers don’t suggest this at all.
Depending on your savings rate, you can reach FIRE in a lot less time than you think. For example, starting from zero, if you save just 10% of your income – automatic superannuation for example – it will take you roughly 50 years to become completely FI.
But, if you can save 30%,you’ll be retired in 28 years – a huge difference.
At the upper end, if you can save/invest 50%, you’ll hit FIRE in about 16 years, and if you can manage 70%, you’ll be free in about 8 years.
The reason it’s possible to reach FIRE without extreme sacrifice is because we live in a time where incomes are high, and living costs can be reduced if we’re serious about it.
Many people are living lives full of excess, and they don’t even realise it. Part of the trap of living in a high income country is that we have life pretty easy. We get used to going out to eat all the time, having a new car, and taking expensive holidays.
In fact, we grow to expect it. We feel entitled to it. And while these are all enjoyable things, if it results in having no savings or money to invest… It really limits our future, and how we can live.
You can still live a good life without spending all your money. But saving a big chunk of your pay doesn’t happen overnight. It’s about building little chunk on top of another, and growing from there.
Once you practice the habit of questioning your spending and looking for ways to optimise things, the savings can stack up surprisingly fast.
Most Aussies earn a decent income. But if you’re on the lower end, your best move might be to actually find ways to earn more money instead. Investing can also be addictive. Once you see progress, it can become more enjoyable to invest money rather than spend it!
I’ve heard people say this.
Is that really true though? All of it makes you happy? I doubt that.
If someone thinks their spending is what truly makes them happy, they’re probably just hooked on the dopamine from spending.
I’ve said before how we get a sugar-high from spending. It feels good at the time, but it’s short-lived, so it doesn’t really satisfy us. We always want something else, something newer, bigger, better.
Chasing after the next big purchase, the next upgrade, the next thing that promises happiness – it can become an endless cycle. And frankly, it’s a pretty unproductive use of our time and energy.
Many people are stuck on this work-spend treadmill, not realizing that what they actually need to live a content life is less than they think. If you’re new to FI and still in this mindset, that’s totally fine—we’ve all been there.
But what I’ve found, and I’ve heard the same from many others too – is that when you decouple in your mind, the idea of an expensive life being the happiest life, your relationship with money changes in a powerful way.
You begin to see money in terms of the freedom and time it can provide you, and the meaningful life it can help you create, rather than what goodies it can buy you.
By now, I hope it’s clear that most of the complaints about the FIRE journey are pretty far off the mark. You’re not supposed to give up the things that matter most to you. That would be pretty stupid.
It’s just about doing things in a more intelligent way. That means creating an enjoyable life that ensures you’re living well today, but are also working towards the future you want.
Once you reflect on where all your money goes and decide whether you’re getting value from it or not, the strategy is easy: minimise the crap, and optimise everything else.
For most of us, it’s totally possible to have the same level of happiness—or even more—by spending less. I had this experience myself, and many of you have told me the same thing over the years.
It’s quite amazing how much you can end up saving and investing without really giving up much at all.
Remember, we’re shifting our relationship with money. So yeah, it won’t always be easy. It might be a little uncomfortable sometimes. But that’s part of growing, and it’s what helps us learn and figure out what’s really important and what isn’t.
Clearly, building wealth is not about depriving yourself and living miserably so you can be free one day. It’s about being mindful with your spending, optimising things, and getting your financial shit together.
If you find yourself grumbling and wishing the days away, you’re probably not doing it right. It might be time to revisit your values and make space in your life and your finances, for more enjoyment.
Maybe it’s a hobby, or more socialising, or even some travel. If it matters to you, it’s worth it, and you can always make it up in other ways.
And here’s the biggest takeaway: the real benefit of building wealth isn’t about getting that luxury lifestyle. You can have that too if you really want it. But the greatest benefit money can bring is the freedom it provides.
The good news is, for those of you who keep learning, commit yourself, and take consistent action, that freedom can come surprisingly fast.
Thanks for reading!
Here are some resources you may find useful on your wealth building journey:
Mortgage broker: My personal broker of 10 years is More Than Mortgages. Highly rated and award winning, Deanna and her team been super helpful over the years and can assist with anything home loan related, including refinancing and debt recycling.
Sharesight: A great portfolio tracking tool for share investors, and free for up to 10 holdings. It tracks all dividends, franking credits and capital gains, which is incredibly helpful at tax time. Saves me a lot of time and headache!
My book: After 5 years and hundreds of articles and podcasts, I’ve distilled everything down into an easy to follow book. Designed as a complete roadmap to achieving financial independence and retiring early in Australia. Available in paperback, ebook, and audio.
Just so you know, if you choose to use these resources, this blog may receive a financial benefit at no extra cost to you. Thanks in advance if you do. And to be clear, I only ever recommend things I genuinely believe in.
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Congrats on the 1 million views and as usual, great read.
“We’re living at the richest time in human history. In one of the most prosperous countries in the world. With record levels of personal wealth, material luxury and the highest ever living standards!”
It boggles my mind how so many people are oblivious to the above. We are indeed lucky to be living in OZ at a time like this.
As for consumerism, don’t get me started… I’ve given up talking to friends/family about it as it’s a lost case in most situations.
Thanks mate! Haha sounds like you could go on a rant of your own – here I’ll pass you the mic… 😉
Excellent rant sir!
I bet you enjoyed writing this one.
🙂
Who needs a therapist when you’ve got a blog!? Such a great way to let loose. Oh yeah, posts like this are always fun to write! And they don’t even feel optional, the frustration just builds up sometimes and HAS TO come out lol
I haven’t come across these negative sentiments myself but yeah, what a load of bollocks. Let’s see how badly we are “suffering” while we (me, wife and 3-year old) save 65% of our income:
– annual overseas holidays
– takeaway coffees most days, pizza night on Friday, Sunday cafe meals
– rent a 2-bedroom, hardwood top floor unit at the beach in Sydney’s Eastern Suburbs
– go to a paid for gym once a week
– drive (weekends) a preowned luxury version SUV (paid $16K cash with 78,000 km on it)
– combined income is average
So with that we are powering our way to FI. I know this because I track total wealth on the first of every month with 3.5 years of data now. It’s there staring me in the face how easily this snowball has grown by simply not throwing money away on shit we don’t need.
Damn Scott you’re doing it tough there mate! 😉
And well done… 65% savings rate = beautiful!
Love your thoughts about supporting kids through teaching them rather than giving all the time. Totally agree. I wish I’d known back then what I know now!
Great article which I’m sharing out!
Thanks very much Jo! Shame nobody will listen to parenting advice from someone with no kids lol – that tends to be a dealbreaker! So I’ll be relying on you to spread the word on that one, that handouts are no substitute for guidance and teaching 🙂
Love this post Dave. And, with three kids going ok, certainly agree about less is more when it comes to giving freebies to kids. A hand up not a hand out!
My approach is to firmly lay out to myself what I think is reasonable to provide my three kids over their childhoods and early adulthood, and then to make sure I am consistent inwardly and outwardly with that.
Great stuff Girt! Thanks for sharing.
Great article Dave ! someones been reading Mark Manson
Another take on the downturn survival strategy is to look at a very long term chart of the asx , its about 7 years from high point – crash – recovery then continues climbing again, the GFC was a particularly severe event about 12 years to recovery without dividends that is if you continued to live on them and not switch on the DRP during the down turn when all prices are at there cheapest. The symmetry of black swan event duration’s is remarkable as they say history doesn’t repeat but it rhymes.
I plan to have some cash possibly 7 years worth tied up bonds or proxy’s that way I will switch on DRP’s during the next downturn and use the cash till the good times return then continue the journey.
just my take for what its worth.
Cheers Josh. Yep have been a fan of Mark for a good while now and often link to his articles. I really like his view on things.
Your approach is interesting. 7 years of cash seems like a bit much to me. There’s a huge opportunity cost there. I’d simply live off the (reduced) dividends and use cash to top up. It’s not like dividends will be zero. And if still accumulating, I’d be buying as much as I could afford to at all times.
GFC was definitely a brutal (and rare) event. If one is living off the income, do the prices really matter? Dividends fall too of course, but typically less than prices, and much less if invested in quality LICs.
Speaking of Mark Manson, in a recent post of his he basically said: “most people suck, so if you do the exact opposite of what most people do, you’ll be ahead”. That’s an interesting take on life… You bought a new phone? Okay, I’m gonna hang onto mine a bit longer. You traded in your three-year-old Ford Ranger for a brand new one? Okay, I’m gonna hang onto my hand-me-down Corolla a bit longer. As a result, financially speaking, I’ve got myself ahead of the curve. Doing the opposite of what most people do is essentially the best life hack there is. Cheers Mark!
Love your work here Dave, and congrats on the million views. Net worth vs Page views would make for an interesting match race!
Haha awesome Chris! Wholeheartedly agree. Funnily enough, I have a half-written draft post which is essentially the same thing – how playing the opposite game is a great strategy for nearly everything in life! I wrote it a few years ago in my notebook but that’s where it’s stayed… the blog post ideas list is already insanely long, at this rate it may never see the light of day lol.
Interesting idea – pageviews would absolutely crush net worth tho. Net worth has actually gone down since we retired (thanks property 😉 ), yet pageviews will probably clock up another million in a year and a bit!
Thanks Dave, agree 100% with your comments. As someone on the other side of FI (I retired at 54 years 11 months) I can honestly say my husband and I don’t live any differently financially than we did pre-retirement. We’ve had a shared view regarding money management that aligns with your approach and that’s probably the key to a seamless life whichever side of FI you’re at! Don’t spend more than you earn, don’t get ripped off by sellers, distinguish between must have and like to have, become mortgage free asap and avoid credit card debt. We research best value for everything from utilities to replacing the fridge to health insurance, shop at Aldi, go out for breakfast rather than dinner and have dinners out at the local RSL! It’s more about sensible financial practices formed early in life that become a habit, not so much a huge change in approach which I think many critics struggle with. The prize of FI is waiting for those who deserve it!!!
Thanks for the comment Rita, appreciate you sharing that!
Well done by the way! Sounds like an very sensible way to live. And you’re totally right that building the right habits early makes a big difference. Because once something is a habit, it’s effortless. Hopefully we can get more people building better habits over time!
I think it’s astounding just how much our family’s savings rate increased just by being more conscious of our spending, cutting down bills where we could! Valueless spending prior to the full- so wasteful!
Great to hear about the progress Doc! As you’ve shown, it’s really about the right attitude, being accountable and taking action. Nothing super difficult, often just different to what people are currently doing 🙂
Totally agree! I’m in the US, but your lifestyle sounds similar to ours. It’s completely possible to become FI(RE) without having to miss out on life. I’ve saved and saved, yet I’ve also traveled the world and have built friendships. Sometimes that means having friends over for tea or coffee instead of going out. Sometimes it means hosting a dinner that I cook and share. But I have to cook dinner anyway, so why not enjoy sharing it with someone? And there’s plenty of fun to be had for free! Get creative!
Hi Katie, thanks for the comment! Awesome example of how to approach FI to maximise enjoyment as well as still killing it with your finances 🙂
Hi …
Another small non-sacrifice which may seen insignificant in the total scheme of things to most consumers ; SWITCH of ROOM LIGHTS or other electrical appliances whenever one leaves a room / outhouse !
When l first arrived in OZ , l was absolutely astounded at the way the average house was lit-up in every room , as it appeared to me directly arrived from Europe .
Yours switch-offedly , Ramon .
Ahhh good one Ramon! A pet-peeve of mine (out of many lol) is stuff like this, thanks for pointing it out. It’s just dumb, has zero benefit and is 100% waste. You wouldn’t leave the shower on after you get out or the car running after you get out, right? Once you’re done with something you turn it off!
As the great Peter Griffin once said…
“Pow, right in the kisser!”
Love love love this Dave!
I’ve yet to see a mainstream media outlet publish a story on FIRE that doesn’t go down this narrative. As if we’re all living like Spartans on nothing but baked beans on toast, counting each cent until we get to our magical number so we can be happy ????.
Next time I see one of those stories, or a youngin whining about how terrible living in modern-day Australia is I am going to send them to this article.
Haha thanks mate! Always good to quote Peter Griffin 😉
Man it’s sad they go down that path, but they’re just peddling what they think their audience wants to hear – that old ‘life is hard’ ‘everything is expensive’ victim mentality. It’s up to us to straighten out the nonsense! Cheers FB.
Congratulations on 1 million view.
As always- a good read!
Cheers Rohan, appreciate it.
A different take on the pizza date night. Regardless that it is only 1%, maybe they replaced it with something cheaper but better? What about a walk around the park? Or a picnic? Not only cheaper but better for your health and just as good for your relationship. Cost does not correlate with value.
Totally K! They could easily optimise date night. I was just being overly generous to show it still made basically no difference to their outcome, and as a result, makes no sense to use as a whiny example of why FIRE is restrictive and means missing out 🙂
Wow Dave this article is outstanding. So many valid points. You should write a book. A little late reading your blog as I am enjoying a planned snow holiday. Thanks to 12 months of conscious spending and saving. So agree with your sentiments about FIRE. We have been applying some of the strategies (still learning heaps) in our finances and discovered the satisfaction and confidence of managing our money rather than money managing us. Just wished we had discovered FIRE earlier. My husband and I are about 7 years off retirement but in the last 12 months seen positive changes in our finances that will help us in retirement. Keep blogging you are doing a great job and congrats on the 1 million views.
That’s fantastic, nice work Colleen!
And thanks for the kind words, I really appreciate it.
hi Dave, I have only been a recent finder of your blog. So much stuff to read and learn. Why were there not people like you years ago? Perhaps there were but no one led me to those directions or maybe i did not have an interest back then, just living and paying bills and enjoying life at that moment( spending).
Years have gone by quickly and now not that far away from retirement i feel its all too late.
I did pull my finger out a little when in my late 50s back 3 years ago, and now with not many years left to retirement, only a casual job after being made redundant after spending 25 years in my last job its not getting any easier.
But now one of my kids around 30yo i do not want them to make the same errors as i did. Perhaps with your blog, i can get them to do some reading and set themselves up on FIRE. As i said , only a recent finder of your blog so for my benefit and my kids benefit where is the best place to start reading up on your website. Keep up the good work.
ps: There maybe something i might want to ask that i do not want to put up publicly , so wondering if take any personal emails? Thanks
Hey jdc. Haha I dunno mate, there wasn’t many bloggers years ago, especially in Australia! At least we’re here now 🙂
The best place to start is perhaps the Start Here page, from there your kids can read what it’s all about and get the idea of how it works, and on that page they can download the free ebook I just created which spells out the key lessons to this FI stuff.
You can send me a private email through my Contact page and I’ll get back to you. Cheers!
I am in a fix! Some perspective below, before i share the issue where i need your advice: I have always been good at managing personal finances, have had no debt for past 15 years and been a great saver and a decent investor. Always dreamed that I will retire early (maybe 50), but never properly planned how it would work out. Eventually, I discovered the full FIRE concept 2 years back. Worked out the details on current net worth, savings/investment goals and the FI number. This was in 2019 and my FI target was 3M$, that I would achieve by 2027, at age 47.
Fast forward to Feb 2021, professional career & investments have worked out pretty well in last 10 months (A lot of it has been due to some courageous but well thought out decisions I took post-Covid). My FI target of 3M$ looks much closer than I had planned for – probably 3 years ahead of my plan i.e. by 2024, aged 44.
So I have been thinking that why not I reward myself a little bit and replace my current car with a nice mercedes (100K$ splurge). It will mean that I will add back one year, to 2025, which I do not mind because I am still ahead of the 2027 target by quite a margin. However, I am struggling to go ahead with this decision – feeling guilty that I am breaking my own FIRE principle I have stood by for so many years. I have believed in it and preached it to my close friends & family. Now I feel like I am going back on all those beliefs.
In a crazy fix, swinging between one extreme to the other. Please advise, should I go ahead with the decision? If yes, how do I handle the guilt?
Interesting situation. I just had a comment recently from a reader who is now staying at work longer and longer to keep upgrading his lifestyle, even though he can afford to retire. He can’t break out of this mental place he’s in. Upgrading your lifestyle and accumulating more wealth and luxury is addictive like that, and it directly takes away from our freedom.
So will the Merc hurt you financially? Of course not. You can more than afford it financially, so there’s no need for the guilt. But will it make your life meaningfully better? Probably not. If it’s just this one-off purchase, it’s totally fine. But as I mentioned, it can turn into a slippery slope of lifestyle upgrades and keep you at work for the pursuit of more.
Either way, you’re in a fantastic situation and there’s really nothing to stress out about 🙂
Don’t deny yourself a Merc, but don’t buy one either!! Look into a lease arrangement, can even be tax effective — look into this via ATO or adviser. A new car devalues significantly driving it out of the dealer’s showroom! Act smarter, enjoy the luxury and have no financial regrets.