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tony

Why? FI

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Financial independence is, in many ways, just a new wrapper on some long-cherished financial notions. While the movement has taken hold among millennials, the core ideas will be familiar to a lot of baby boomers and Gen Xers. Earlier generations often subsisted on a single income. Owning just one car, and raising a family of four in a home with two bedrooms and a single bathroom, weren’t unusual. “Earn more, spend less” isn’t exactly a new idea. Perhaps the financial independence movement could most accurately be described as a throwback to earlier times.

https://humbledollar.com/2019/11/why-fi/

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We older Boomers grew up with one bathroom house and were taught to "save for a rainy day." In the 60s, I remember about one of the many counter-culture values besides long hair on men and boys--materialism. A big one was rejecting materialism and turning inward to solve our problems, via mediation and consciousness-raising encounter groups. I got involved with one for years and got a lot out of it. Help me grow up. But something happened in the 1980s when luxury became standard, and we began to borrow and spend like drunken sailors, big and expensive cars and HUGE homes way too big for average families. 

The FI movement saw what happened to their friends and relatives in 2008. They don't want any part of feeling and experiencing something like that happening to them, and they are doing something about it. They know taxes will go up, SS and pensions will disappear, and perhaps another financial crisis will happen. They reject the materialistic rat race and stress and want to live a peaceful simple life. 

I applaud them for doing this. Rejecting consumerism takes a lot of guts and raw courage. Find out first hand how difficult it is to change to a simple life in the documentary, Playing with FIRE. 

 

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15 hours ago, tony said:

Financial independence is, in many ways, just a new wrapper on some long-cherished financial notions. While the movement has taken hold among millennials, the core ideas will be familiar to a lot of baby boomers and Gen Xers. Earlier generations often subsisted on a single income. Owning just one car, and raising a family of four in a home with two bedrooms and a single bathroom, weren’t unusual. “Earn more, spend less” isn’t exactly a new idea. Perhaps the financial independence movement could most accurately be described as a throwback to earlier times.

https://humbledollar.com/2019/11/why-fi/

I'm a transplanted Midwesterner on the East Coast.  Totally different conversations among my friends in those regions.  

Best described as: that's impossible! vs. duh, what planet are you living on?

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