The History of FIRE

Your favorite books and links
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jacob
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The History of FIRE

Post by jacob » Mon Mar 26, 2018 8:32 am

Last year we talked about writing up the history of FI/RE but never got around to it, however...

https://rockstarfinance.com/history-of- ... -movement/

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jennypenny
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Re: The History of FIRE

Post by jennypenny » Mon Mar 26, 2018 8:50 am

It's nice to see you get appropriate recognition for your contribution to the FIREsphere.

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Re: The History of FIRE

Post by Jason » Mon Mar 26, 2018 10:41 am

I thought this was going to be a picture of some semi-naked guy rubbing two sticks together.

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Re: The History of FIRE

Post by theanimal » Mon Mar 26, 2018 1:21 pm

Interesting read. I do wish it expanded beyond the scope of just the financial aspect. Then figures like Thoreau, the Nearings and Borsodi would fit in. They don't hype the emphasis on finances, but they are emblematic of taking a step away from culture and retiring early.

Does anyone know how popular the books of Borsodi and Nearings were among the masses?

jacob
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Re: The History of FIRE

Post by jacob » Mon Mar 26, 2018 2:01 pm

Expanding it is tricky. Because which direction? The Nearings, for example, were not retired, nor financially independent, but espoused and lived more of a back to the land philosophy with 4 hours of "bread labor" and 4 hours of writing. Nearing literally burned some highly appreciated war bonds because he didn't want to profit from war. Many people came to visit and live on/near the farm and worked in return for food.

Borsodi is not well-known in the US. He's more famous in India if I understand correctly.

I think we might be subject to some echochamber bias here when it comes to extreme measures. Much of the [total] FIRE community are normal or only slightly frugal consumers who achieve their high savings rates through high incomes. If your family unit makes 100k in after-tax income, you can copy the median consumer lifestyle and still put away 50% of your income for an early retirement in your 40s.

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Stahlmann
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Re: The History of FIRE

Post by Stahlmann » Mon Mar 26, 2018 2:22 pm

jacob wrote:
Mon Mar 26, 2018 2:01 pm
Much of the [total] FIRE community are normal or only slightly frugal consumers who achieve their high savings rates through high incomes. If your family unit makes 100k in after-tax income, you can copy the median consumer lifestyle and still put away 50% of your income for an early retirement in your 40s.
[Sadly, at least for me] +9000

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Re: The History of FIRE

Post by Farm_or » Mon Mar 26, 2018 8:53 pm

I enjoyed the brief history of the little man and the investing systems. Good mention of ERE.

The conclusion makes a good point. Just because you can, doesn't always mean you should. Or at least, one more thing to plan for?

Thanks for sharing.

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Re: The History of FIRE

Post by Kriegsspiel » Tue Mar 27, 2018 9:19 am

jacob wrote:
Mon Mar 26, 2018 2:01 pm
Nearing literally burned some highly appreciated war bonds because he didn't want to profit from war.
I always thought that was strange logic on his part. If he bought war bonds then didn't redeem them, he basically gave money to the government, instead of lending it and getting paid back.

enigmaT120
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Re: The History of FIRE

Post by enigmaT120 » Tue Mar 27, 2018 5:29 pm

They didn't believe in profit at all. They thought it was immoral.

Kriegsspiel
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Re: The History of FIRE

Post by Kriegsspiel » Wed Mar 28, 2018 10:04 am

He could have burned the interest. Either way, minor quibble; nobody's a perfect radical.

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Re: The History of FIRE

Post by plantingourpennies » Wed Mar 28, 2018 3:27 pm

I think Jacob's influence is way undersold in that article, for two specific reasons:

1. MMM may be the blog that launched a thousand sites, but I'm pretty sure that I recall Pete was originally inspired by ERE/Jacob. No ERE and the FI interwebs are a very, very different place.

2. ERE remains the most "hardcore," of the FI web-both for saving/spending rate and intellectual rigor. In any movement it's important to maintain a core group who inspires the others and calls bullshit when required.
jacob wrote:
Mon Mar 26, 2018 2:01 pm
Much of the [total] FIRE community are normal or only slightly frugal consumers who achieve their high savings rates through high incomes.
I resemble this remark.

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Re: The History of FIRE

Post by 2Birds1Stone » Wed Mar 28, 2018 8:44 pm

plantingourpennies wrote:
Wed Mar 28, 2018 3:27 pm
I resemble this remark.
At first pass I thought I did too, and in some ways many of us here probably do. ERE is more than just a savings rate, it really is a way of thinking that takes this whole thing to another dimension. For that I am most grateful.

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