In “What is FIRE?” we mentioned that the ‘end goal’ of FIRE differs for everyone. For us, it is important to understand the purpose of gaining our financial independence. This understanding gives us the desire and motivation to continue following the ‘unconventional path’ of frugal living.

The question posed by FIRE is a fascinating one, and we see it as a more ‘sensible’ version of the classic:

What would you do if you won the lottery?

We have considered this question numerous times over the last few years. It is a constantly moving target – and so it should be!

Most people’s answer to the lottery question involve big houses, flash cars and many holidays in marble-clad 5* hotels. Through our reading on frugality, minimalism and happiness, we have come to realise that these things wouldn’t actually make us happy. In fact, the stress of living that type of lifestyle really doesn’t appeal any more and we foresee a much simpler way – ‘A Way to Less’!  

Our Way 

Currently, we have a broad plan of how we want to achieve our version of FIRE over the next decade or so. 

We are lucky in that we both enjoy our work. At present we both work full time (this is something we would love to vary as we get closer to FI – or maybe even sooner). The construction industry and teaching both seem good professions to experiment with more flexible working hours. The construction industry has many short term contracts to meet demand throughout the world. The opportunities with music teaching are almost endless!

Kids 

We are currently enjoying the DINKY (dual income no kids yet) lifestyle. However, we both share the desire to try to start a family in the near future.  

Clearly this will have a significant impact on both our current and future plans. While we will be aiming to avoid the major consumerist pitfalls of parenting we see all around us, this will clearly still be a significant addition to our budgets and needs careful planning.  

We mentioned above the options open to teachers, one of which is working in international schools throughout the world. The added bonus with this is that schools often offer free places for children of staff. We see this as a very tempting solution to education concerns we have, which we will discuss in future posts! 

So in the short term, while we still look to accumulate those precious FIRE funds, we are likely to explore opportunities for working abroad. Ideally, this will be carried out as a family.  

Not only do international jobs often offer a good salary and great additional benefits, but you also have the opportunity to explore a new area and broaden the horizons of kids in tow! 

If we can take advantage of this situation while still living a frugal existence, we will be well on our way to FI.  

Be Present

It’s all well and good talking about plans for FI, but for those of us on ‘normal’ salaries, this is well into the future. Some people seem to have the attitude of putting up with years of sub-optimal life in order to achieve FI. For us, this doesn’t appeal.  

Who knows what might happen tomorrow? We think it is important to optimise at every stage of life.  

“Yesterday is history. Tomorrow is a mystery. Today is a gift, that’s why it is called the present.” 

Alice Morse Earle

This has been a real focus for us recently as we try to optimise every aspect of our lives. Miss Way has also struggled with her mental health so trying to find the right balance is vital for us. We will be writing much more on this topic. We think it is vital that people continue to open up about mental health. 

In a recent Mad FIentist podcast, we heard Tony’s story. This story highlights the fact that FIRE is not a solution. If there are underlying issues affecting your happiness, they won’t magically disappear upon pulling the plug on your job. Depression and anxiety are serious issues and need constant management.

Of course there is a balance. While working full time there have to be compromises as there is only so much time left in the week. We are excited to work towards FI as this will give us the freedom to explore opportunities which are ‘too expensive/not necessary’ at the moment. That’s not necessarily to say expensive in monetary terms, but also time.  

Currently we feel that some avenues are not explored due to never ending time constraints. We spend so much time working, that free evenings become very precious when trying maintain healthy relationships. Therefore, to then pursue extra passions as well (which we have tried to do in the past) tends to put a strain on these relationships.

So what is our version of FIRE? 

Our current aim is to achieve a life where work is optional. This gives us the ultimate freedom to craft our own lifestyle, fitting in more of the things that are important to us. We have a wide range of things we enjoy in life including: 

• Time with friends and family 
• Travel 
• Food 
• Sport 
• Music 

Our future plans aim to include all of these, explored at our own pace. We are big fans of the slow travel idea, where we can really get immersed in the local culture rather than a traditional ‘resort holiday’. We enjoy learning languages and love learning about the local culinary treats! 

Miss Way will probably always maintain some degree of work as this helps to give structure to her time. This is key to maintaining positivity. This has the added benefit of reducing the income we will likely need to draw from our investment portfolio. There will always be a small amount of earnt income to cover some basic expenses.

It is very easy to assume that you can set a retirement goal such as perpetual travel or retiring to a homestead. But we all know how quickly these goals can change, as your situation develops and you find joy in new ways. The important thing is starting the journey, as this is the only way to ensure your future desires are met – whatever they may end up being! 

So that’s our version of fire. What do you think?  There are so many different options out there and we would love to hear what your path looks like. We’re sure ours will change regularly before we get there!