Playing with FIRE (Financial Independence Retire Early)
How Far Would You Go for Financial Freedom?
byScott Rieckens, Mr. Money Mustache
Book Edition Details
Summary
"Playing with FIRE (2019) takes a look at the growing movement known as FIRE (Financial Independence, Retire Early) through the author’s personal life-changing journey and examples of diverse FIRE devotees. It reveals how changing spending and investing habits can help you maximize wealth, cut expenses, and pursue passions for a simpler, happier, and more meaningful life."
Introduction
Picture this: you're sitting in traffic on a Monday morning, coffee in hand, heading to another day at a job that pays well but leaves you feeling trapped. The mortgage, car payments, and credit card bills demand your presence at that desk, but your heart yearns for something more. What if there was a way to break free from this cycle? What if you could retire decades earlier than traditional wisdom suggests, not by winning the lottery or inheriting wealth, but by fundamentally changing how you think about money and happiness? This is the promise of the FIRE movement – Financial Independence, Retire Early – a growing community of individuals who have discovered that the path to freedom isn't through earning more, but through wanting less. Through real stories of ordinary people making extraordinary changes, you'll discover how to calculate your true financial needs, optimize your spending without feeling deprived, and build wealth through simple investment strategies. Most importantly, you'll learn that financial independence isn't just about money – it's about reclaiming your time and designing a life aligned with your deepest values.
The Wake-Up Call: From Lifestyle Inflation to FIRE Discovery
Scott Rieckens had what many would consider the perfect life. Living in beautiful Coronado, California, with his wife Taylor and baby daughter Jovie, he enjoyed a six-figure income, drove nice cars, and dined at the finest restaurants. Yet one February morning in 2017, everything changed during his commute when he heard a podcast interview with Pete Adeney, known as "Mr. Money Mustache." Pete described how he had retired at age 30 by living like a college student even while earning an engineer's salary. He saved aggressively, invested in simple index funds, and calculated that once he had 25 times his annual expenses saved, he could live off the investment returns forever. What struck Scott wasn't just the math, but Pete's contentment – he spent his days hiking, brewing beer with friends, and being present with his family. Meanwhile, Scott realized he was spending Pete's entire annual budget of $25,000 in just three months. The revelation hit like lightning. Scott had been trapped in what economists call "lifestyle inflation" – as his income grew, so did his expenses, leaving him no closer to financial freedom despite years of career success. He was trading his life energy for luxuries that brought momentary pleasure but lasting financial stress. The BMW lease, boat club membership, and expensive dinners weren't making him happier; they were keeping him chained to a desk. This moment illustrates a fundamental truth about modern consumer culture: we often mistake increased spending for increased happiness. The real wake-up call comes when you realize that every purchase represents hours, days, or even years of your life that you must trade to afford it. True wealth isn't about having more money – it's about needing less of it to be happy.
Breaking Free: Cutting Expenses and Changing Mindsets
When Scott excitedly shared his FIRE discovery with Taylor, her reaction was less than enthusiastic. Like many spouses hearing about dramatic lifestyle changes, she worried about giving up the comforts they'd worked hard to afford. The breakthrough came when Scott asked her to write down the ten things that made her happiest on a weekly basis. Her list included hearing their baby laugh, having coffee with her husband, going for walks, and reading to Jovie – simple pleasures that cost almost nothing. This exercise revealed a profound disconnect between their values and their spending. They were pouring money into a luxury lifestyle while finding joy in free activities. Armed with this awareness, they began methodically cutting expenses. Scott gave up his daily Starbucks habit, saving $1,920 annually. They started cooking at home instead of eating out four times a week, saving hundreds more. But the biggest challenge came with Taylor's beloved BMW. The car represented more than transportation – it was a symbol of her hard work and success. When Scott showed her that keeping the BMW would extend their working years by 18 months, the math became undeniable. That luxury car wasn't just costing $400 per month; it was costing a year and a half of her life. Reluctantly, she let it go, later describing the moment as watching part of her "old self" drive away. The power of intentional spending lies in questioning every expense against your deeper goals. When you see purchases in terms of life energy rather than monthly payments, the true cost becomes clear. Freedom isn't found in having enough money to buy anything you want – it's in not wanting things that don't align with your values.
The Road Trip Experiment: Testing FIRE Principles in Practice
Recognizing that their expensive California lifestyle was incompatible with FIRE goals, Scott and Taylor made a radical decision: they would leave Coronado and spend a year traveling the country while Scott filmed a documentary about financial independence. This wasn't just adventure – it was a calculated experiment in geographic arbitrage, using location to dramatically reduce living costs while maintaining their income through remote work. Their journey took them from Seattle to rural Iowa, where Scott's family lived simply in a way that naturally embodied FIRE principles. His cousin Jared drove a paid-off car, lived in a home he'd helped build, and saved generously – not because of any grand philosophy, but because frugality felt normal. This revelation was humbling for Scott, who realized he'd forgotten the simple wisdom of his Midwest upbringing while chasing coastal prosperity. But the road wasn't always smooth. In Iowa, facing their first Christmas with a tight budget, they panicked about gift-giving. The stress of extreme frugality began taking its toll, making them question whether they were sacrificing too much happiness for future freedom. Scott's father offered perspective: "You've always been impulsive, but this time you're onto something real." The key was finding balance – being intentional without being extreme. Their year of travel proved that dramatic cost reduction was possible without dramatic hardship. By the end, they had saved $60,000 – more than they'd managed in their entire previous relationship. More importantly, they discovered that experiences and relationships, not possessions, created lasting happiness. The experiment validated that with creativity and commitment, anyone can redesign their life around their priorities rather than their peers' expectations.
Building Community: Finding Your FIRE Tribe and Path Forward
The FIRE journey can feel lonely when surrounded by friends and family who don't understand why anyone would voluntarily live below their means. Scott and Taylor found this isolation challenging until they discovered Camp Mustache, an annual gathering of FIRE enthusiasts. Surrounded by 60 like-minded individuals in the Washington woods, they finally felt at home. The diversity was striking – engineers and teachers, minimalists and travel hackers, people saving 50% of their income and others saving 70%. What united them wasn't their methods but their shared values: prioritizing time over money, experiences over possessions, and intentionality over impulse. Workshop topics ranged from tax optimization to personal health, showing how FIRE principles extended beyond finance into every aspect of life. One powerful moment came during a session led by Vicki Robin, co-author of "Your Money or Your Life," who challenged the group to consider their purpose beyond personal financial goals. She spoke of using their freedom to create positive change in the world, whether through environmental activism, community service, or simply modeling an alternative way of living for their children. Scott and Taylor ultimately settled in Bend, Oregon, buying a modest home within their budget rather than the dream house that would have extended their working years. They maintained their savings rate above 50%, putting them on track for financial independence in their mid-forties. But perhaps more importantly, they had built a life aligned with their values – one where morning bike rides with their daughter took precedence over client meetings. The FIRE community teaches us that personal transformation happens best with support from others walking a similar path. When you surround yourself with people who celebrate frugality rather than consumption, who measure wealth in time rather than possessions, maintaining your new lifestyle becomes natural rather than a constant struggle against social pressure.
Summary
The essence of FIRE isn't about depriving yourself of happiness today for some distant tomorrow – it's about discovering that true wealth means having enough to live according to your values without needing to trade your time for money. Start by examining the gap between what truly makes you happy and where your money actually goes. Calculate what financial independence would look like for you using the simple formula of saving 25 times your annual expenses. Begin with small changes – cooking more meals at home, questioning subscription services, biking instead of driving – then tackle the big expenses like housing and transportation that can dramatically accelerate your timeline. Most importantly, find or create a community of people who support your goals rather than pressure you back into unconscious consumption. Remember that every dollar you don't spend on things that don't matter is a dollar that can buy you time to focus on what does.
By Scott Rieckens
