FIRE Mental State to go Along with Your Savings Rate – Financial Independence, Retire Early

For many, saving for FIRE is a slow journey. For me, my goal is to be FIREd in 8-12 years.

If your outlook for FIRE is many years away, how do you stay focused on your goal?

FIRE is not a financial diet, it’s a lifestyle change

The key for me, is making FIRE my lifestyle. In my teens and early 20s, my lifestyle revolved around purchases that I didn’t need with almost every time being unsatisfied after buying that “new, cool” thing.

I changed by realizing what is more satisfying to me: watching my money grow.

In my teens and early 20s, I was 50 lbs over weight. I tried many fad diets, and saw little results in the 1-2 weeks spans I was dieting. My weight would go up or down 1-3 lbs no matter if I was dieting or not. I was baffled with dieting for many years.

Weight loss and saving money are both slow journeys with big payoff in the future

My problem was that I was focusing on the now and not the later. I had to delay my gratification and keep it simple. I ate less and exercised more for 1 month and lost 5 pounds. This longer term positive feedback and simplicity encouraged me to keep going.

In less than 10 months I lost 50 lbs.

I now apply this principle to my money. It will grow slow, you have to be patient. You have to stay the course. Your investments will likely fluctuate, but in the longer term you will have more money and be happier.

To FIRE successfully, stay in the FIRE mindset. Listen to FIRE podcasts, read FIRE forums/blogs/books and don’t get discouraged by friends and family that tell you it’s not possible.

It is possible. You can find an abundance of success stories online.

I can do this. So can you.

How do you stay the course on your FIRE journey?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: