Being part of the FIRE community sometimes feels like being part of a secret society. We have all these terms that make no sense to others: 4pct rule, FIRE, trackers, compounding interest, Trinity. Mysterious…
In some recent encounters with people, I noticed that a there are people that apply the principles of FIRE. They just do not call it like that. When I speak with them, they use other words. The end goal is the same: have freedom. Freedom to
- no longer work
- work only on projects you like
Some examples of conversations
One person could not belief that there are dentists that live pay check to pay check. He used his insights from the part time job of his wife for that. To him, it is clear that taking expensive cars, a beach house in another country and a way-to-big-house do not help to save money and allow for freedom. His personal approach is similar to many of us in the FIRE community: be frugal, DIY, spend time with friends and family on experiences.
In another discussion, rental income was the topic. This person is a handy DIY person and wants to build up a rental income to replace his regular income. Inspiration comes from acquaintances. They have build up enough rental properties and now no longer have to work. The income from rental units exceeds the costs they have. For now, they still work, yet, they are considering to stop. That person has a frugal attitude, looks for the best offer on building materials for is own house: not the cheapest: good quality at a fair price and does a lot of work himself. I am sure he will be FIRE one day.
There are many more. i am sure you also know people like that.
This leaves me with 2 thoughts
- How many people are there out there that apply the principles of a FIRE lifestyle without having read a blog about it? What is the common sense approach that these people have to be frugal, live below their means and invest?
- How can you engage in a conversation with them? With the persons above, I do talk about the high level principles. I do not yet mention the concept FIRE or the internet movement around this. Should I?