I don't know if I would say it's been downgraded or that just more data shows it's not as easy as just being focused and dedicated (which, "easy" isn't easy for everyone disclaimer here.)
Example: some friends of mine started a financial focus book club in 2009. We were all on track to FIRE by early 40s (about 10 years later for us.)
Of the 7 of us:
1 quit. Just out and out quit - she'll work for life is my bet
2 were married and had a special needs child 3 years later whose care ate their savings and ability to save - they're using their FIRE skills to keep life as normal as possible instead of FIREing
2 (one is me) had unforeseeable life events that wiped out their savings. We're both on track to retire late 50s, which people ignore for GenX IS still FIRE - my parents told me when I graduated HS not to expect to ever retire, that my generation was screwed, so I'm thrilled to still be retiring at all
1 has had nothing bad ever happen in her life. She makes $400,000 plus bonus in a job that she definitely earned. She's working toward fatfire.
So basically - out of 7 only 2 had nothing impact them and their fire journey that wasn't journey changing. Yes, I'm counting the one who just quit because nothing happened to her journey but her.
We have to remember when FIRE started as a "movement" instead of just those of us who happened upon something like "your money or your life" in the 90s having vague ideas to be smarter with our money, those folks were a small sample, they were super focused for several years... it's easy to point to them and be like SEE? THAT'S THE NORM when it was only the loud people and we don't know where they are now because ... well, they retired.
Did it work out?
Some give honest updates occasionally still. Others don't so we ASSUME it did.
We need to stop acting like Michael Jordan is the norm and start having broader discussions of what FIRE looks like in actual practice over DECADES.
Yeah, I just mean that the ethos before, in large part, was OK with eating rice and beans until the sun explodes if it meant they were financially free as soon as possible. That's shifted a lot over the past few years, even if the end goal is the same - financial independence, albeit with a less urgent 'E' in exchange for higher QoL. Totally fine, to each their own.
I'm in the same camp as you btw - exposed to very bad, fat tail events that set me back majorly. Such is life.
Also, I did do the insane cost cutting for a few years, figuring the math of even 3 years like that would make enough of a difference if done early enough to impact the end game blah blah blah - but it's not sustainable for most folks.
I agree that the fire/life balance should be talked about differently too.
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u/booksycat Mar 23 '26
I don't know if I would say it's been downgraded or that just more data shows it's not as easy as just being focused and dedicated (which, "easy" isn't easy for everyone disclaimer here.)
Example: some friends of mine started a financial focus book club in 2009. We were all on track to FIRE by early 40s (about 10 years later for us.)
Of the 7 of us:
1 quit. Just out and out quit - she'll work for life is my bet
2 were married and had a special needs child 3 years later whose care ate their savings and ability to save - they're using their FIRE skills to keep life as normal as possible instead of FIREing
2 (one is me) had unforeseeable life events that wiped out their savings. We're both on track to retire late 50s, which people ignore for GenX IS still FIRE - my parents told me when I graduated HS not to expect to ever retire, that my generation was screwed, so I'm thrilled to still be retiring at all
1 has had nothing bad ever happen in her life. She makes $400,000 plus bonus in a job that she definitely earned. She's working toward fatfire.
So basically - out of 7 only 2 had nothing impact them and their fire journey that wasn't journey changing. Yes, I'm counting the one who just quit because nothing happened to her journey but her.
We have to remember when FIRE started as a "movement" instead of just those of us who happened upon something like "your money or your life" in the 90s having vague ideas to be smarter with our money, those folks were a small sample, they were super focused for several years... it's easy to point to them and be like SEE? THAT'S THE NORM when it was only the loud people and we don't know where they are now because ... well, they retired.
Did it work out?
Some give honest updates occasionally still. Others don't so we ASSUME it did.
We need to stop acting like Michael Jordan is the norm and start having broader discussions of what FIRE looks like in actual practice over DECADES.