The Key To Achieving Financial Independence Retire Early (FIRE)
FIRE (financial independence, retire early) is a goal for many — especially those who have recently started saving for retirement. This article will explore FIRE's what and why and offer some tips to achieve it.
What Is FIRE?
FIRE is the acronym for Financial Independence, Retire Early. It's a goal that many people have, which means you have enough money saved up not to work for money. It's a lifestyle choice, like vegan or Paleo. You can be FIRE and still eat hamburgers and drink beer, but there are certain things you'll do differently if your goal is financial independence instead of just retiring early (FIRE).
How To Find Your Aha Moments And The Key To Achieving FIRE
FIRE is a path, not a destination. FIRE is a journey, and it's important to recognize that if you are pursuing FIRE to achieve financial independence, you're setting yourself up for failure. Why? Because retirement cannot be achieved in one fell swoop, it must be worked on every day. In other words, FIRE isn't about getting there; it's about getting better at being there every day.
What Financial Independence Is (and What It Isn’t)
Financial independence is often considered a state of mind. It's the idea that you can be free from the need to work for money and choose how you want to live.
For many people, financial independence means having enough assets built up, so they don't have to keep working to pay their bills. Some people achieve financial independence by saving money. Others acquire it by earning passive income through investments or blogging, while still others use real estate as a primary source of income once they reach FIRE (financial independence/retire early).
3 Key FIRE Principles And How You Know You’re On Track
If you’re ready to get started on the journey toward FIRE, here are the three key principles to keep in mind:
Key Principle #1: Gratitude For What You Have
It's not something you can fake or force. You have to feel it in your heart. Deep gratitude is a state of mind that will improve every aspect of your life, including your physical health and well-being, mental health and happiness, relationships with others, and even productivity at work.
Gratitude helps you sleep better and stay more optimistic about what you have instead of focusing on what you don't have. When you're grateful for something wonderful, the brain releases dopamine—the hormone responsible for pleasure—which leads to relaxation and an improvement in mood within seconds.
Key Principle #2: Flexing Your Bold Intentions
To get rich, you need to have bold intentions. You can use your bold intentions as the foundation for your financial decisions. It's how most people achieve financial independence and fulfill their dreams.
Many people think that achieving their goals or dreams is simply about working hard and saving money regularly over time, but this isn't enough if you don't have a clear goal. Having a clear goal will motivate you every step of the way, even when times get tough.
Key Principle #3: Full Release Of The Past
The third key principle is that you must fully release the past. You must let go of the fears of your past, whether they be regrets or things you wish you had done differently.
You should not worry about how much your investments will grow or where they will take you in life because no one knows these answers yet! You also need to let go of the fear and worry about the future, which is a very easy trap to fall into when working on FIRE goals.
Finally, let go of any fear or anxiety related to what may happen today or tomorrow. These are just distractions from focusing on what matters most: finding happiness and contentment by doing what makes sense for yourself at this time in your life.
We hope that this post helps you to see the beauty in the process of finding your aha moments and that it inspires you to take action in your own life. Your journey is unique and personal, but if you can find ways to increase your gratitude for what you have and flex your bold intentions toward financial independence, then it's possible for anyone!