- An introduction to the concept of Financial Independence and Retiring Early (FIRE)
- Covers the basic background with a heavy focus upon the psychology and decision-making processes of FI.
- Intended as a stepping stone for people new to the concept as well as a reference document for others further along the path.
- Part One of a Six part series, approximate length is ~5000 words.
Disclaimer, nothing in this post can be constituted as financial advise for investment purposes. Please do your own research and make your own decisions when investing. I am not liable for any gains or losses you incur as a result.
Financial Independence (FI) is the idea that you don’t need to be a wage earner all your life to survive. It’s the idea that you can take control over your financial destiny and through a series of smart choices, patience and hard work can substantially improve your financial position. It’s an idea that’s based upon discipline, understanding investments and expenditures as well as taking control.
Financial Independence has a secondary component, Retire Early, hence the acronym (FIRE). Whilst I think early retirement is a worthwhile goal in and of itself it isn’t the focus of this series. Instead, this series is about obtaining the understanding and knowledge necessary to place ourselves in the best possible financial situation.