Setting a up a plan and going on a journey to FIRE is an adventure that comes with a lot of challenges. Next to the usual suspects like asset allocation and investment style, there are there are topics like how much do we want to spend now on luxury, what does our ideal life look like, etc. The former questions are topics I can deal with on my own. It sounds nerdy, but it is what I like to figure out. Being married and having children, these latter questions are not questions to answer all by myself. Answering the questions on why and how to achieve FIRE requires a lot of communication and exchange of ideas with the people that are close to me. I do not hesitate to discuss the topics with my wife (the children are really too young). This helps us forward in multiple ways: we get more and more aligned, we share common goals and approaches, investment topics become a subject we discuss about.
A few Sunday it was Fathers Day in Belgium. The gift I got was really encouraging for me. Reading this book will bring me one step closer to fully figuring out what and how we want to invest. This book is helping more on the mathematical questions, the mechanical questions.
Next to that, as a family we also work on the why and the what of FIRE. With my wife, I regularly discuss the topic of money and the financial future. This is something we did less before. I am happy that we now start to discuss the topics more in detail.It helps to get aligned on the goals we have, what we want to achieve and what we are willing to give up.
As it is a long journey, some say it is not a sprint, it is a marathon, we think it is important to be very comfortable while working towards our goals. Even if this means reaching the goals a little later.
Yesterday, we were out on a dinner with just the two of us. This gave us the opportunity to have a good chat on the why. I will document this in another post. So, since I really got into this FIRE journey, I am really happy with the progress that we made as a family. After all, having good moments with the family is the main reason to be starting this marathon.
How do you discuss this topic with your wife and kids? DO you have any tips stay aligned on the goals, why, what and how? I look forward to your approach.