Maybe today isn’t the ideal time to take the early retirement you planned. But the day is fast approaching. The pandemic will pass, economic activity will increase and the market will travel to new highs. Beginning retirement when the economy is at the beginning stages of a bull market allows for the longest period of growth before your budget is seriously challenged with declining asset prices.
The willingness of so many to embrace this concept without serious thought made me nervous. The only relevance we got from the developer was, “They are doing it in Europe with great success.” And since we are in Florida, I have some land I’d like to sell you, too.
One thing was clear. The FIRE community, the FIRE movement, has reached critical mass. There are enough people with cash available to fleece. The old Microsoft Support Scam and IRS Scam are peanuts to what can be pried from the fingers of this group.
Pointing out the emperor has no clothes is a sure way to lose your card-carrying status within a community. The alternative is to deny the truth and be part of the problem. If I’m out, I’m out. At least I was honest.
This brings us to the scariest part of the movement no one wants to talk about: phalanstery.
In a breaking news story sure to rock the FIRE (financial independence/retire early) community, Mr. Money Mustache (MMM) has fired his accountant for refusing to take early retirement.
You may recall Mr. Mustache is the leader of this massive movement sweeping the planet. Suze Orman has never been the same since she said she “hates, hates, hates” the FIRE movement. Now the leader of the New World Order has ordered the hit on his now former accountant for refusing to take a knee prior to normal retirement age for a public official (55).
His former accountant, aka The Wealthy Accountant (TWA), kept a stiff upper lip when he broke the news earlier this year. However, the paparazzi knew something was afoot when Mr. Accountant had a tear at the corner of his eye.
Once I digested that it was only a number I decided to do what I always did. I try lots of things, grow my business and expand my sources of income, much of it passive.
You see, I learned the most important step of all: It’s the journey that matters, not the destination. And I had the best mate in the world along for the ride.
It was that day when I was a 32 year old man that I learned to live life for the first time. Live, for Real.
Retirement, or at least the ability to to live a hedonistic lifestyle, appeals to many people. Age has nothing to do with it. Punching a clock working for the man get old real fast when you don’t have perspective. Until you realize how useless life becomes when you spend each day creating no value and have no real reason to live. Then the job looks more appealing. Or starting a business. In either case you get real interaction with people on a similar mission and it brings the spice back to life. (Redditors, fire up your engines!)
But I contend, as I often have in this blog, that retirement had nothing to do with the FIRE movement. It was never about retirement; that was the dream sold to get victims in the door. FIRE has always been about wealth, about independence and freedom. People never wanted to be retired like and old worn out machine. They wanted meaningful activities. Financial independence allows the freedom to choose and that is what people really wanted all along.
It didn’t exactly start with Mr. Money Mustache, but the FIRE community solidified around Pete and his work. Pete retired at the ripe old age of 30 and set a new standard in early retirement.
News feeds have a litany of stories of 30-somethings living the good life as they travel abroad. Coupled with the stories of people paying off a gazillion dollars in debt in four and a half minutes and it starts to look easy.
Except it isn’t that easy! It’s actually damn hard. Personal circumstances play a vital role. Where you live, your health and education opportunities determine at least a part of the outcome.