Financial Independence Rectitude Everyday

For my inaugural Blog post (after the Apology), I’d like to comment on another inspiration for this blog: The F.I.R.E. movement and the Mr Money Moustache blog, which is something I’ll return to often in the Asceticism category. F.I.R.E. stands for Financial Independence Retire Early. The concept is to radically reduce one’s spending such that only a fraction of what is earned is needed for living expenses, with the remainder being saved. For example, if one makes $80,000 a year, but only spends $30,000 of that, one would only need to work for twelve years to accumulate $850,000 in savings, which would then generate enough interest to “retire early”. Said another way: Consuming less and shedding the unnecessary trappings of Capitalism is the key to self-fulfilment. The Mr Money Moustache blog is a practical example of this approach and expounds the first theme relevant to this blog: Minimalism.

While retiring at 32 might be on the extreme end of the minimalism / savings spectrum, “Financial Independence”, or “Semi-independence” is something we should all strive for — if for no other reason than freedom of conscience. After leaving the public sector for the private, I’ve become painfully aware of what people will do to “get ahead”. I’m not talking necessarily about the more egregious acts like selling products without a client’s consent like the Wells Fargo scandal, but even something as banal as agreeing with your boss… even when you don’t really. Instead of saying something like, “I think that’s unethical”, or “That’s not what’s best for the client”, or “That’s a terrible idea” we agree, placate and even flatter. But why? So we don’t get fired. But why don’t we want to get fired? Because we need this job. Why do we need this job? To maintain our “standard of living”. And what is our “standard of living” (as defined by advertising / social media / news outlets)? The size of our house, the car that we drive, the amount of “stuff” that we buy, the vacations we take, etc. Are these things really important though? Do they make us happy? Of course not. I think deep down every one of us knows it too. Nonetheless, it seems that many of us will compromise our integrity, to the detriment of many of the organisations we work for mind you, to buy things we don’t really need.

The concept of not being reliant on material things isn’t new to the F.I.R.E. movement however. I probably don’t need to point out that poverty and the rejection of material things underpins Christianity, as it does most spiritual traditions.

Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal. But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal. For where your treasure is, there will your heart be also. — Matthew 6:19-21

If my heart is set on getting ahead, and with having a “high standard of living”, what am I willing to compromise? If on the other hand, I realise that having the newest iPhone, and eating at the poshest restaurants isn’t the most important thing in life, then what does that mean for my agency, my freedom and my integrity? So as a less extreme take on F.I.R.E., maybe I don’t need to be retired at 30, but I do need to not feel panic at the thought of being fired for standing up for my beliefs.