Thursday, 12 December 2019

Fire Fans Assemble!

Hello and welcome to my blog!

Let me introduce you to myself and what the topic of this blog will be… It’s all about FIRE!

Maybe you’ve come across a lot of FIRE blogs and stories across the internet or maybe you’re completely new to the movement – however I would like to share our (me and my wife’s) journey through it, from the beginning to end as we are pretty much only at the beginning of this journey.

Also, as far as I’m aware, the FIRE (Financial Independence Retire Early) movement originated from the USA, or at least the stories that I have come across have mostly been Americans, however we are seeing a rise in FIRE adopters in the UK, and hence I wanted to get involved in documenting our journey to get a British perspective and to give my fellow British audience a journey to follow and hopefully see through the end of it!

As mentioned we are still in the early days and we started this movement seriously around a year ago (October 2018). The reason why I say seriously is because we did have some savings from before (before we were aware of FIRE), however this was just due to our general lifestyle and being careful with our spending. We weren’t really investing that much… majority of our money was pretty much just sitting in our bank accounts. Since August 2018 though we have taken a more active look at our finances, made budgets and looked at investment options etc.

Grow Investments

I will write about all our initial plans as to how we came about to the realisation of wanting to achieve Financial Independence, how we are doing it, how our progress is going (Yes, we will share our real investment portfolios and finances on a regular basis!), our initial financial mistakes (Pre and Post adopting FIRE, hopefully no more of these going forward!), our total estimated time left till our target is hit and many more topics such as tips and tricks on how to invest and save money to also help and motivate you to achieving FI as well!

Finally, I want to thank you for visiting our website/blog, I hope you become a regular reader and please do share with us your thoughts, comments, ideas and questions!

P.S. I want you to know that I am in no way a professional writer or anything like that (completed my GCSE English and Literature exams nearly 15 years ago!) and so if you do come across any grammatical errors or any sections which are hard to read or follow, then please let us know and I will try to amend and thereby going forward become a better writer too!

Thank you

4 comments:

  1. are you sure that FIRE is for you?
    You just choose to have a baby and that'll mean a lot of spending, compromises and energy will be needed over the next maybe 20+ years. Kids won't help you become FI and you might find that childcare costs push one of you to give up work for a while.
    Unless you are imminently approaching FIRE, would you not just be better focusing on saving/investing and having a happy family life?
    As a family man myself, I see that as being a more practical approach - like finding a job (like you have) that allows me to take as much time off as I like, work from home and spend more time together as a family.

    ReplyDelete
    Replies
    1. Hi Gentleman's Family Finances,

      I believe you can do FIRE as well as have kids. I agree it will be difficult and take us longer but I have seen some examples of this e.g.

      • https://www.cnbc.com/2018/11/19/how-much-early-retirees-spend-each-year.html,
      • https://www.boston.com/news/jobs/2016/05/08/frugalwoods-cambridge-baby-retire-33,
      • https://www.kiplinger.com/article/retirement/T047-C000-S002-young-fire-savers-race-to-retirement.html and
      • https://www.marketwatch.com/story/can-you-retire-early-when-you-have-kids-these-hard-core-savers-and-parents-say-yes-2018-12-06

      I also believe me and my wife are quite disciplined and will be able to manage this. Also, as mentioned in the ‘Our Approach’ post, we are going for Slow FI as we don’t want to go down the extreme route of frugality – we want to enjoy the present too and have a good quality of life and hopefully should be able to catch up in the future when our incomes increase.

      Delete
  2. I see that we are both nibbling at the same "cake and eat it" approach to FI.

    ReplyDelete

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Hello Fire Fans! I’m back! Sorry for the long delay since my last post – I’ve just been extremely busy since the new year with a fr...