Camp FIRE Finance
In the world of FIRE and early retirement is that “what” and financial independence is the “how.” Simply stated: no FI, no ER.
Financial independence, or FI for short, is when you’re investments generate enough cash to cover your expenses. That’s the holy grail because it means that money is no longer an object. You’re financially free!
Not Everyone Should Pursue Early Retirement, but EVERYONE should absolutely strive to become financially independent.
When you’re financially independent, you’ve got options. You can go to work or quit. Take a vacation or lie on the couch all day. What you do doesn’t matter because you’re financially free.
The best thing you can buy with your money isn’t more stuff – it’s freedom. When you no longer have to trade your time for a paycheck, then suddenly you can do whatever you want with your time. You’re free! And that’s what financial independence is all about.
Most Americans define ‘rich’ as anyone that makes more money than they do. I define it like this:
Rich
/ˌriCH/
adjective
Unlike nobody, I don’t like being told what to do. Who does? Maybe that’s why I hate Monday so much. The thought of going to work for someone else and ultimately being at their mercy rubs me wrong.