I agree that if you’re pursuing FIRE in order to become happy then you will likely be disappointed. But that’s not why everyone pursues it. I always wanted options, which is why I started building wealth consciously as a teen. The option to stay home with kids, buy a business, move anywhere, buy a nice house, leave any boss or boyfriend or spouse I wanted to leave - I didn’t know. I still don’t know what exactly I’ll do with my wealth. But when I retired from my stressful corporate sales job 2 years ago, it felt f-ing magical. And I still wake up grateful and giddy most days that I chased FIRE and now have the time freedom to build whatever I decide to pursue next.
Thanks for the thought piece, but I feel this article is missing the point about happiness and FIRE and our ability to manage ourselves after we leave our jobs (i.e., we just don't stop thinking and doing and suddenly become lost). Of course people who's objective (whether secretive or not) is to "become happy" will struggle no matter what they do (regardless of FIRE) because inherent in happiness is hedonic adaptation -- constantly re-leveling back to where we were. Happiness is fleeting and inherent in how we measure happiness is with unhappiness. But happiness doesn't leave room for grief and other important human emotions. Renown happiness researchers like Dr. Brooks, state that half of happiness is genetic and another 10% is circumstances. So up to 60% of happiness is out of our control -- no wonder many (most?) of us not genetically disposed to happiness can't get there and never will. BUT, FIRE does help achieve high levels of contentment and psychological richness (reference the recent book: A Psychologically Rich Life: Beyond Happiness and Meaning by Shigehiro Oishi and Erin C. Westgate).
I didn't need to know what I wanted to do in retirement. I just needed to know that after I FIRE'd I would have the free time to figure it out. Which I did because I was the same person after FIRE as I was before and I could set and achieve goals and try out new things just like I did when pursuing FIRE. But the difference was that I could do that with a full night's sleep, with the mental and physical energy that used to be sapped away by my job, and without crowding my time with my family and friends. Happiness is a trap (as I explained above) and pursuing meaning might be great for some people, but it isn't required for everyone to live a good life to include me. I pursue psychological richness and not meaning because meaning is no longer very important to me. So while nothing, to include FIRE, will bring sustained happiness, FIRE does increase freedom and contentment because we no longer have to work 40, 50, or more hours a week at a job and try to fit the rest of our lives around that. The RE part of FIRE has given me the time figure out how I want to live my life in retirement and it has been fantastically more enjoyable than before FIRE (going on 6 years!). Thanks again.
FIRE seems like a quicker way to get to a dilemma that we really don’t seem to talk about in our society. Namely that life continues after retirement. But if you haven’t planned that as studiously as your financial independence (hopefully) you are 1. In for some rough soul searching like you were describing, 2. Relying on luck that you find something enjoyable for your golden years, or 3. Have already been living your best life and now have more time to enjoy it and the means to do so. The first option can lead to some really dark places for folks if they aren’t ready. Here’s to hoping that folks find themselves in the third option.
Thanks for writing up your thoughts. I fully agree that the expectation about FIRE and also at the other end of the spectrum is wrong: "Finally, when I don't have to work, I will be happy."
But this is a much too simplistic view. There is more to happiness than having money and time. That's the basis that allows you to be happy but the rest needs to be created -- as you wrote. I does not come just automatically.
I really like this idea of the "happiness formula" by Scott Adams: Happiness = Health + Freedom.
So, it is more complex. FIRE is "only a part" of the freedom side. There is a lot more than just being free from money concerns.
We're kindred spirits, Jordan. Like you, I've seen many who achieve FIRE, only to be disappointed that they're not happy. Great reminder on asking the right question before you attempt to answer it with the wrong answer. That said, I've never been happier than I am post-FIRE. Done correctly, FI can be a powerful tool on your path to a happier life. But...it's only a tool, not the answer.
Great post. I think fire gives us a great way to have temporary meaning and purpose in our lives, the important word being temporary. Far better I think to work on building a life you don't want to escape
In a moment of clarity last week I realised that I could achieve my fire goals if I just sold all my assets, donated everything to charity and lived off benefits.
I agree that if you’re pursuing FIRE in order to become happy then you will likely be disappointed. But that’s not why everyone pursues it. I always wanted options, which is why I started building wealth consciously as a teen. The option to stay home with kids, buy a business, move anywhere, buy a nice house, leave any boss or boyfriend or spouse I wanted to leave - I didn’t know. I still don’t know what exactly I’ll do with my wealth. But when I retired from my stressful corporate sales job 2 years ago, it felt f-ing magical. And I still wake up grateful and giddy most days that I chased FIRE and now have the time freedom to build whatever I decide to pursue next.
Thanks for the thought piece, but I feel this article is missing the point about happiness and FIRE and our ability to manage ourselves after we leave our jobs (i.e., we just don't stop thinking and doing and suddenly become lost). Of course people who's objective (whether secretive or not) is to "become happy" will struggle no matter what they do (regardless of FIRE) because inherent in happiness is hedonic adaptation -- constantly re-leveling back to where we were. Happiness is fleeting and inherent in how we measure happiness is with unhappiness. But happiness doesn't leave room for grief and other important human emotions. Renown happiness researchers like Dr. Brooks, state that half of happiness is genetic and another 10% is circumstances. So up to 60% of happiness is out of our control -- no wonder many (most?) of us not genetically disposed to happiness can't get there and never will. BUT, FIRE does help achieve high levels of contentment and psychological richness (reference the recent book: A Psychologically Rich Life: Beyond Happiness and Meaning by Shigehiro Oishi and Erin C. Westgate).
I didn't need to know what I wanted to do in retirement. I just needed to know that after I FIRE'd I would have the free time to figure it out. Which I did because I was the same person after FIRE as I was before and I could set and achieve goals and try out new things just like I did when pursuing FIRE. But the difference was that I could do that with a full night's sleep, with the mental and physical energy that used to be sapped away by my job, and without crowding my time with my family and friends. Happiness is a trap (as I explained above) and pursuing meaning might be great for some people, but it isn't required for everyone to live a good life to include me. I pursue psychological richness and not meaning because meaning is no longer very important to me. So while nothing, to include FIRE, will bring sustained happiness, FIRE does increase freedom and contentment because we no longer have to work 40, 50, or more hours a week at a job and try to fit the rest of our lives around that. The RE part of FIRE has given me the time figure out how I want to live my life in retirement and it has been fantastically more enjoyable than before FIRE (going on 6 years!). Thanks again.
FIRE seems like a quicker way to get to a dilemma that we really don’t seem to talk about in our society. Namely that life continues after retirement. But if you haven’t planned that as studiously as your financial independence (hopefully) you are 1. In for some rough soul searching like you were describing, 2. Relying on luck that you find something enjoyable for your golden years, or 3. Have already been living your best life and now have more time to enjoy it and the means to do so. The first option can lead to some really dark places for folks if they aren’t ready. Here’s to hoping that folks find themselves in the third option.
Thanks for writing up your thoughts. I fully agree that the expectation about FIRE and also at the other end of the spectrum is wrong: "Finally, when I don't have to work, I will be happy."
But this is a much too simplistic view. There is more to happiness than having money and time. That's the basis that allows you to be happy but the rest needs to be created -- as you wrote. I does not come just automatically.
I really like this idea of the "happiness formula" by Scott Adams: Happiness = Health + Freedom.
So, it is more complex. FIRE is "only a part" of the freedom side. There is a lot more than just being free from money concerns.
We're kindred spirits, Jordan. Like you, I've seen many who achieve FIRE, only to be disappointed that they're not happy. Great reminder on asking the right question before you attempt to answer it with the wrong answer. That said, I've never been happier than I am post-FIRE. Done correctly, FI can be a powerful tool on your path to a happier life. But...it's only a tool, not the answer.
To answer your poll question, I need a fourth option: "Happier."
Great post. I think fire gives us a great way to have temporary meaning and purpose in our lives, the important word being temporary. Far better I think to work on building a life you don't want to escape
“Freedom with.” That’s a new and helpful distinction to add to my “freedom from” and “freedom to” repertoire. Thank you.
In a moment of clarity last week I realised that I could achieve my fire goals if I just sold all my assets, donated everything to charity and lived off benefits.