NYT Podcast about FIRE

[erp]

I haven't actually listened to all of this yet, but it seems interesting so far:
https://www.youtube.com/watch?v=AWTPGjcrL5A

It sounds like an explicit investigation of the FIRE movement, which is kind of neat?

[uniwelder]

You beat me to it!  I was just finished listening to it and was about to post.  They did a really good job.  This was put together as an extended audio version of a NYT article of the same material, but with more content about 'regular' FIRE people and the overall concept, origins, and reason for gaining popularity.  Here's the previous discussion on it--- https://forum.mrmoneymustache.com/welcome-to-the-forum/nyt-article-on-fire/

[erp]

Ah! I hadn't made the connection to the previous article thread.

Honestly, I was pretty pleased with the result. It felt like they captured the questioning "figure out what this means" element of Fire very well from my perspective.

[FireLane]

I listened to this today. It was OK, but it spent almost all its runtime on the extremes: the dude who got super-rich with a smash hit app that made $250,000 a month, and the woman who saved money by becoming a truck driver and sleeping in the truck in between freight runs.

I guess the basic story of "ordinary middle-class person reaches financial independence over 10-15 years by living frugally and cutting out unnecessary spending" wouldn't make for interesting material for a podcast. But it's the most common, and the most reproducible, kind of FIRE story.

[twinstudy]

I listened to this today. It was OK, but it spent almost all its runtime on the extremes: the dude who got super-rich with a smash hit app that made $250,000 a month, and the woman who saved money by becoming a truck driver and sleeping in the truck in between freight runs.

I guess the basic story of "ordinary middle-class person reaches financial independence over 10-15 years by living frugally and cutting out unnecessary spending" wouldn't make for interesting material for a podcast. But it's the most common, and the most reproducible, kind of FIRE story.

People don't want stories that challenge their own perceptions of what they can or can't, or could or couldn't, achieve. Yes, FIRE is easily accessible to even average earners, if they have good discipline or insight. But no one wants to be reminded of what he or she could have, but didn't, accomplish. And the crucial thing with FIRE is that if you have only average earnings, then what you really need is discipline (an unsexy trait) and time for compounding (something that if you're past your mid-30s you may struggle to have enough of) and an understanding of spending/career mechanics (a positively difficult thing to learn at any age, and harder as you get older), so it's not really a popular topic of discussion for most people who have missed the boat.

[J.P. MoreGains]

People don't want stories that challenge their own perceptions of what they can or can't, or could or couldn't, achieve. Yes, FIRE is easily accessible to even average earners, if they have good discipline or insight. But no one wants to be reminded of what he or she could have, but didn't, accomplish. And the crucial thing with FIRE is that if you have only average earnings, then what you really need is discipline (an unsexy trait) and time for compounding (something that if you're past your mid-30s you may struggle to have enough of) and an understanding of spending/career mechanics (a positively difficult thing to learn at any age, and harder as you get older), so it's not really a popular topic of discussion for most people who have missed the boat.

I agree with this. This path is out there and is for almost everyone. It takes discipline and consistency over time. If only I would've know about this in 1998. I would've made different decisions for sure... but regardless 10 strong years can change it all. For someone who has this information there are no excuses. Granted some people are too old but even myself in my mid forties feel like I can turn it around.

Not a popular discussion for sure because I think most people if they see this info they know they could've done this.  I'm a perfect example - it's my own fault I was broke most of my adult life.