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FIRE (FINANCIALLY INDEPENDENT, RETIRE EARLY) MOVEMENT

debt psychology wednesday word of the week Dec 11, 2019

Definition 
The FIRE movement is a school of thought where you aim to become debt-free (financially independent) and retire as early as possible, typically before age 35. 

​Why It's Important
The FIRE movement is a trendy movement in the financial blog and influencer circles because who doesn't want to become debt-free and not HAVE to work?! I capitalized HAVE because the movement is not saying to sit around and wait to die. It just makes it so you don't have to rely on worrying about money and can do more fulfilling work. The motivation behind the movement came from Americans being able to live longer than before, the inaccessibility of pensions from jobs, and the shorter job tenure. 

Last year, I read "Your Money or Your Life" by Vicki Robin, one of the pioneers of the modern FIRE movement. She makes the argument that every moment in your life is worth money, and jobs are more expensive than what meets the eye. She urges people to track every expense even down to the clothes you have to wear to work to the food you have to eat to get your real wage. The book made me look at things a little differently.

If you are interested in further exploring the FIRE movement, a documentary just came out to select theatres called "Playing with FIRE." I recommend checking it out to see the type of lengths people go to make that dream a reality. ​

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