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Creating Freedom Through Financial Independence

FIRE in Finance | Financial Independence Retire Early

FIRE stands for Financial Independence Retire Early.

In simple terms, it’s about building up enough investments so that you can live off these assets forever. The returns you get from these assets will exceed your living expenses.

Once you hit this point, you no longer need to work – you are financially independent!

This also means you have the choice to ‘retire early’ if you desire. And while retirement sounds like an odd concept for someone in their 20s, 30s, or even 40s, FIRE is really about freedom and choices.

Imagine for a moment that work is completely optional. How you would live if you had complete control over your time?

Why do people pursue FIRE?

A growing number of people are joining the FIRE movement every year. The main motivations for doing so are…

  • To live a healthier and less stressful lifestyle
  • Spend more time with family/kids/pets
  • Financial security and freedom
  • The ability to work less, and enjoy life more
  • Devote more time to hobbies, passions and other interests
  • More control over the type of work we do and the hours worked
  • Escape from the soul-sucking monotony of the rat race 😉

But retiring early doesn’t mean never working again. It simply means the end of mandatory full-time employment, and the start of freedom.

Interestingly, almost everyone who reaches financial independence chooses to keep working in some form. But they do it in a very different way.

They spend time doing things which bring a sense of satisfaction and meaning.

The bottom line? FIRE is empowering. It allows you to approach life from a position of freedom and confidence, thanks to your strong financial position.

Why did I pursue FIRE?

One word: freedom. I wanted the power to choose how I spend my time.

From a young age, I struggled to accept that we have to give up most of our lives dedicated to work. And let’s be honest, most of us see it as a necessary evil – certainly not something we’d do for free!

Similar to the above reasons, I wanted to spend more time outside, playing with my dog at the park or hanging out with my partner Ali. I wanted to dedicate more time to my health and be more active.

I wanted to read and learn about everything that interested me, but didn’t have time. And finally, I just craved the ability to opt out of work that I didn’t find meaningful or stimulating.

Making Financial Independence a focus in my 20s was the best decision I’ve ever made! You can read more about my journey here.

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