Author Topic: Article about FIRE in the Observer / Guardian  (Read 4429 times)

Fresh Bread

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Article about FIRE in the Observer / Guardian
« on: August 18, 2019, 08:36:54 PM »
There's a lot of articles recently about FIRE, aren't there. This one is pretty good.

https://www.theguardian.com/money/2019/aug/18/meet-people-saving-retire-by-40-fire-movement

Bloop Bloop

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Re: Article about FIRE in the Observer / Guardian
« Reply #1 on: August 18, 2019, 09:15:17 PM »
Pretty fair article.

I found this excerpt interesting:

"Lynn James, who writes the Mrs Moneypenny blog, argues that Fire is only realistic “if you have a big salary, low mortgage and no children”. And not everybody wants to spend their 20s being frugal. “At that age I wanted to travel the world, eat amazing food, go to concerts and experience life.” "

Bit of a sad view. You can travel the world quite cheaply. You can eat amazing food quite cheaply, as long as you're not doing it every week. You can experience life on a modest expense. In fact I would argue that for most people, it's not deliberate spending on nice things that hampers their frugality, but rather untrained spending on social obligations (eg buying that round at the pub when you don't want to spend that money), unhealthy addictions (cigarettes, gambling), or money leakage from unwise decisions (poor investments, getting a bad interest rate on a mortgage, getting a personal loan etc).

Meanwhile the Guardian comments are the usual wank-fest of people unwilling to believe that financial intelligence / personal responsibility has a role to play in our society.



Fresh Bread

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Re: Article about FIRE in the Observer / Guardian
« Reply #2 on: August 18, 2019, 10:25:03 PM »
Best to never read the comments.

About living it up in your twenties - you could still have fun and still have 15 years to save and retire at 45. Obviously it's better to save a bit because of compounding but as long as you don't get into debt in your twenties, the still possible to retire super early.