The FIRE Movement Is Stupid for Only One Reason

Sergey Faldin wrote about why the FIRE Movement (Financial Independence Retire Early), is stupid to him for several reasons.

I agree with him. But I think my biggest issue with such movement is that they focus on the wrong problem.

Most people have an income problem, not an expense problem, when it comes to financial independence.

Focusing on the percentage of income saved could be very misleading. Let us do a thought experiment. Is it harder to save 50% of an annual income of $100k, or 35% of an annual income of $50k? The answer is not hard to figure out. There are unavoidable daily necessities.

As a financial consultant I know this too well. For a young couple living in a big city with two small children, it is incredibly difficult to save any serious amount of money even if both are working.

Living like a Monk could work, but if you have the will power to live like a Monk, working like a dog is much a preferred option.

Come on, please sell your suffering to the highest bidder for the best return.

Shopping for the cheapest groceries take time and planning. You are not just suffering but also selling away your attention and time for a few dollars-the worst kind of business deal ever.

Instead of killing your brain cells over “how to save a few dollar doing X and Y” , why not figure out on how to change your job and start your own side-business?

Suffering in lifestyle is the least worrying aspect to me in the school of penny pinching to retirement. The biggest damage is the scarcity mindset towards money and being blind towards opportunities.