Fire movement sounds like the BMT training all guys went through with. Jokes aside, how do you feel happy with so many constraints around? How about with a partner that does not like to be restrained too? - Seedly
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FIRE Movement

Personal Finance 101

Anonymous

Asked on 27 Mar 2020

Fire movement sounds like the BMT training all guys went through with. Jokes aside, how do you feel happy with so many constraints around? How about with a partner that does not like to be restrained too?

How do you know whether FIRE is for you?

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Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 9. God of Wisdom
Answered on 24 Apr 2020

Good question!

Thats why my friends and I were saying FIRE is not the most important stuff in your life, happiness is.

Money is useless if you can't (or don't) spend it.

If your partner does not like FIRE, and you do... you need to think which is more important in your life. If your partner is more important than FIRE, then abandon FIRE because your partner is your love. Not FIRE.

Just because abandoning FIRE doesn't mean you will be poor or bad, it can be sensible savings, investment an sensible lifestyle ;)

FIRE is not a cure-all :)

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Question Poster

3w ago

Yeap agree. I have a discussion with my partner on this. We decided that this is not for us. We are happy with the normal budgeting lifestyle, and splurge once in a while to celebrate milestones. Thank you!
Z
Zed
Level 3. Wonderkid
Answered on 28 Mar 2020

Well, there are always 2 sides to a coin. You call it a constraint, I will say that it is a habit that meets my minimalist needs. This is probably a matter of perspective and we should choose the lifestyle that fit our needs as there is no 1 single rulebook for FI. If lean FI (40k expenses per year) is too little to meet your needs, go for fat FI (100k+ expenses per year). However, the trade-off will be more hard work, work hours, sources of income and less time with loved ones.

As mentioned by Yang Teng, communication is important for money matters as a couple as you two will face challenges such as budget for wedding, housing and children. Understanding each other spending habits will be helpful in a relationship and though talking about money is probably difficult, it will avoid unnecessary misunderstanding and pressure on the relationship as money plays a key role.

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Frankie Aufhauser-Rappaport
Frankie Aufhauser-Rappaport
Top Contributor

Top Contributor (May)

Level 9. God of Wisdom
Updated 3w ago

Is stop working early, and be comparatively 'rich' a good life goal ?

Better find (difficult!) a job that is permanently a passion to You but gives

You also appropriate room/time for Your family, which in the end is more important than any possible job.​​​

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Tay WenHao
Tay WenHao
Top Contributor

Top Contributor (May)

Level 7. Grand Master
Answered 3w ago

Hi. Since I'm still serving my NS, I totally understand your joke.

In army, FIRE moment requires a lot of teamwork, planning and skills. Sometimes may also need to 'smoke out' and retreat.

There's no 100% sure win to FIRE. Both in army and in financial independence. Sometimes you may have unforeseen circumstances that cause you to take out a lump sum of your savings for emergencies. And that's where you 'retreat' and strategise your next move.

At the end of the day, I feel that FIRE just gives you a cushion / safety net for you to slow down your pace and enjoy life a bit more instead of a full retirement.

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Heng Kai Le
Heng Kai Le, Mondomover at School Of Life
Level 6. Master
Answered 3w ago

Hi there!

I don't approach it from the "must tighten my belt for several years and accumulate enough warchest savings for investment" angle. to me, i look at the premise of this movement - to retire early so that people can have the freedom to do whatever they want, which includes working.

I think a model that could be in contrast to the FIRE movement is the Japanese' ikigai (reason for being) model. The Japanese are known to be hard workers and are not as motivated by monetary rewards than by their sense of professional pride and service-oriented mentality. This model prompts us to think about finding a sweet spot in which what we love, what we are good at, what we can be paid for and what the world needs converge nicely. if we are lucky enough to find this sweet spot, then i think we won't dread our job - along with office politics/unreasonable customers yadda dadda - that much and hence, won't pine for the FIRE movement as much.

just my two cents' worth

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Angeline Teo
Angeline Teo, Calculator at The Internet
Level 6. Master
Answered on 01 May 2020

FIRE doesn't sound that tough if you moderate.

sure, sometime you want to indulge in some good food, i think its necessary.

sometime you want to buy yourself some nice clothes or cool accessories... yes its good, because its a marathon, not a spirit.

You need to slow down at times :)

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Frankie Aufhauser-Rappaport
Frankie Aufhauser-Rappaport

3w ago

How wise ... yes ! Some luxury yes, but consumerism creates more problems only.
Lok Yang Teng
Lok Yang Teng
Top Contributor

Top Contributor (May)

Level 9. God of Wisdom
Answered on 28 Mar 2020

There's no strict one way to FIRE. You can tailor your pathway to your preferred lifestyle/choices. The idea is that changes and sacrifices must be made in order to be FI/RE.

For example, it doesnt mean you have to cut out all your morning coffee. Rather, you can opt for cheaper ones by for instance making it yourself instead of going to premium shops. Once in a while indulgence is fine.

If you want to FIRE as a couple, then communication is key so that the plan can be of best interest to both. ​​​

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