BONUS Episode - The Tenets of FI/RE
As the FI/RE movement becomes more mainstream, explaining what the core values and beliefs are can be daunting. In this episode, Wendy and Curtis explain six of the core tenets of the community. Each tenet also embraces specific actions, mindsets, and strategies that flow from the core tenet. THE SIX FI/RE TENETS 1. Rejection of Consumerism 2. Redefining Retirement 3. Tax Optimization 4. Increased Savings Rate 5. Community 6. Life-Optimization In this episode, we discuss the first tenet, REJECTION OF CONSUMERISM Embracing frugality - but not at the expense of things that bring value or joy (not deprivation) Not keeping up with the Joneses Minimalism Materialism does not equate to happiness Elimination of Debt Reduction of Spending (cutting cable, reducing housing costs, buying used cars, cutting grocery/food expenses) YOUR WHY One of the first steps to embracing this journey is to really understand WHY you want to obtain Financial Independence. What is your reason? For us - it is Legacy and creating a different future for our children. We are doing that by saving more, spending less and increasing our income.