You Are Unique, Your Path to FI Should Be Too
Financial independence isn't a one-size-fits-all, so don't be afraid to modify it to fit the life you want to live.
When I first heard about the FIRE movement, I thought I had it all figured out.
All I needed to do was slash my expenses to the bone, earn as much money as possible, start a side hustle or two, and pump my savings rate through the roof. If I did that, I could grind hard for the next 5 to 10 years, and then reach a point where I never had to work again. Complete and total financial freedom.
But along the way my mindset changed.
I discovered that sacrificing everything today to achieve early financial independence wasn’t awesome, it was a death march. And as Carl from 1500 Days to Freedom writes,“While I’m financially independent today, I didn’t go about it the right way. My journey was more of a death march.”
So instead of a death march to FI, I realized there was another way.
I could achieve 80% of the benefits of financial independence, without sacrificing everything today. So I modified my approach to FI, and the outcome has been epic.
But, I realize that what works for me won’t necessarily work for you.
So this isn’t about convincing you to coast to financial independence and reach a point where savings becomes optional. Instead, this is about encouraging you to modify FI for you.
Don’t be afraid to switch it up on the path to FI.
Cherrypick the things you like and discard the things you don’t. There are so many paths to financial independence, so why not design one that works for you?
From traditional FIRE to coast FIRE to fat FIRE and even flamingo FIRE (seriously I have no idea who came up with that name) there’s something for everyone.
So go on, switch it up and do your thing! And who knows, maybe you’ll even coin a new FIRE term of your own (slow travel FIRE or homestead FIRE anyone?).
Love the weekly reminders and positivity Anders! Keep it comin'!