With all its emphasis on the word “retirement,” it would be easy to dismiss the FIRE movement as an escape route for the privileged and upwardly-mobile. However, it turns out FIRE has many enriching values for both the individual and our planet including frugality, flexible employment, anti-consumerism, and lower energy bills.
The values behind the FIRE movement stand for much more than early retirement. They are good for the earth. And they are available to everyone.
Midlife Maestro
What is the FIRE movement?
FIRE is an acronym for Financial Independence Retire Early. Its followers attempt to dramatically reduce their expenses while saving a large percentage of their incomes in hopes of saving enough to walk away from their jobs while relatively young.
In order to rapidly build savings, FIRE followers adhere to a new set of values including frugality, flexible employment, anti-consumerism, and lower energy bills. In addition to building health, wealth, and community, FIRE’s values have another important side-effect: they reduce pollution and greenhouse gasses.
What does FIRE mean for me?
Most of us are raised to believe we must purchase the American necessities using debt, and then support these purchases with full-time employment until we reach age 65.
FIRE invites you to redefine your version of the American dream as one of flexibility, interdependence, health, fitness, and community — partly by resisting consumerism — but mostly by adopting age-old values of financial competence beginning with saving more and spending less.
It turns out that whether you’re interested in retiring early doesn’t matter. The values behind the FIRE movement are universal, and its goals can be wielded by any person wishing to take more control of their life. The benefits to wealth, health, and environment may be greater than the mere goals of financial independence or early retirement.
I find this exciting because even if the FIRE movement doesn’t fit all of my personal goals, there is a ton I can learn from it. Furthermore, I know that by trying out its tenets, I’m helping the earth as well as my own financial stability.
Here are some of the best byproducts that I’ve discovered about FIRE, after reading between the lines of the popular blogs and news sources about the movement:
The 6 most powerful side-effects of the FIRE movement (Financial Independence Retire Early)
1. FIRE is great for the earth
In order to save money, many FIRE advocates buy less new stuff, while trying to make the stuff they already have last longer. This is great for the environment because new manufactured goods create an incredible amount of carbon in our atmosphere, which is one of the primary causes of climate change.
Here are some other ways FIRE advocates are helping the earth while they save money for their early retirement dreams:
- FIRE followers repair their stuff and try to make it last longer, reducing pollution on land and in oceans.
- FIRE followers equate driving less with saving money. Driving less is good for the earth because it reduces exhaust pollution and other waste associated with automobiles.
- FIRE followers are frugal, which translates into less overall energy use. This may reduce carbon and environmental impacts from sources such as home heating and electricity.
- FIRE followers buy durable goods and clothing that will wear and last for many years, reducing pollution from both manufacturing and discarding.
- FIRE f0llowers buy less new stuff, reducing manufacturing and associated pollution and earth-warming activities.
2. FIRE builds stronger communities
On their road to early retirement, FIRE followers are networking and building relationships to support themselves and their neighbors in non-monetary ways. They strive to share resources and knowledge to the benefit of everyone. Some people call it social capital. I call it a win for the health and vibrancy of our communities.
Here are some other ways FIRE advocates are helping build strong communities while they save money for their early retirement dreams:
- FIRE followers teach each other learn new skills, such as music, or home and car maintenance.
- FIRE followers may create more more time for friendship, volunteerism, and advocacy.
- FIRE followers may share resources, creating sustaining co-ops and collectives such as Portland’s NE Portland Tool Library.
3. The fire movement may improve health
FIRE followers take a stand against consumerism and the trap of staying in a career to pay for a bunch of expensive stuff. Changing this paradigm allows flexibility, freedom, and reduced stress. Not to mention, more time for exercise and preparing healthful meals at home.
Here are some ways FIRE advocates are helping improve their own health while they save money for their early retirement dreams:
- FIRE followers seek out cost-free activities, hobbies, and entertainment, which may include more healthy pastimes such as hiking, walking, and biking.
- FIRE followers prioritize their own health and sanity instead of stressful careers with advancement at any cost.
- FIRE followers aspire to be debt-free, the result of which may reduce anxiety.
- FIRE ideally frees up more time for home schooling and other family engagement.
- FIRE keeps people’s brains engaged in learning new skills, retaining a more youthful biology
4. FIRE allows people to give
- By reducing consumer purchases and living simply, FIRE proponents may preserve more wealth and time that can be returned to their communities.
- FIRE proponents sharing resources and teach essential skills to other community members.
5. FIRE PRIORITIZES time for creativity
- FIRE followers explore the path less-traveled, opening up time and energy for creative pursuits.
6. FIRE PROMOTES financial competence
Whether you seek retirement or not, FIRE’s philosophy of “spending less than you earn” is a cornerstone of financial competence. This habit alone is enough reason to consider pursuing FIRE.
But is FIRE really available to everyone?
At first glance FIRE may appear tone-deaf to the realities of poverty, homelessness, and racism, offering a retreat for the privileged.
But a closer look will reveal that the values embedded in FIRE parallel the tried-and-true values of thriftiness, community, and practicality that helped build our country. These values are available to any person, not just the privileged.
FIRE resources
Are you interested in learning what FIRE means, and how to integrate it into your own life? Here are some popular blogs that discuss FIRE:
Wikipedia entry on the FIRE movement
Piggy bank image by 3D Animation Production Company from Pixabay
Dock image by Free-Photos from Pixabay
Jogger image by 272447 from Pixabay
Squirrel image by 631372 from Pixabay
Journaling image by free stock photos from www.picjumbo.com from Pixabay
