Financial Independence Retire Early, or “FIRE”, as it’s better known, is hard to define.
From the outside, FIRE seems to be a financial strategy – get rid of bad debt, save more than you spend (if you can!) and invest your savings in passive, diversified investment vehicles. Once your passive income and/or safe withdrawal rate exceeds your annual expenses, you’re FIRE’d!
But once you scratch the surface, it quickly becomes obvious that FIRE is far more than a financial strategy. Financial strategies don’t spread from thousands to millions within a handful of years. And financial strategies don’t translate directly between countries who don’t share a language.
But FIRE does.
If I only had one word to describe FIRE, it would be community.
It’s a community of people who are helping each other spend less time and money on things that don’t matter to them and more on things that do.
It’s a community of people who are turning the money taboo on its head by openly talking about what they spend their money on, what financial services they use, and where they invest.
And it’s a community of people who are beginning to create deep social change in the world by demonstrating that there are clear, actionable steps that almost anyone can follow to achieve Financial Independence.
In a post-COVID world, the positive impact of the FIRE community can only grow.
The value of Financial Independence has never been so clear on such a vast scale, and millions of people will be acutely aware of the benefits of being prepared for unexpected financial turmoil – from first-hand experience.
As Aussies, we’re lucky. For the vast majority of people, FIRE is attainable. Doesn’t matter if you’re a bricky or a barrister, a nurse or a neurologist, or something entirely different – if you have a full-time job and live in Australia, there is a type of FIRE and place in our community for you.
But, today’s FIREscape still tends to be dominated by US-centric information. It can be quite hard to find relevant information for Aussies – especially if you’re early on in your journey.
So, we got Australia’s top FIRE experts together to create Aussie FIRE – a guide which we hope will be used by Aussies pursuing Financial Independence for years to come.
Now, no matter your background, you have the information and tools you need to start and succeed on your own FIRE journey.
It’s fitting really – 25 chapters of red-hot FIRE content by the community, for the community.
This is what it’s all about!
I know you’re eager to get started, so I won’t say much more.
But before I sign off, a massive thanks needs to go to each and every one of our authors. The Aussie FI community really dug deep to put this eBook together, despite COVID-19’s best efforts to derail it!
And finally - what’s Pearler trying to get out of this?
The answer is simple really – we want to help the FIRE community grow, because the more it grows, the more the communities we live in thrive, and the more our business thrives.
So, from Hayden, Nick, myself and all the team at Pearler – happy reading, happy FI-ing, and please help spread the FIRE (!) by sharing this eBook with those you care about.
Kurt is one of Pearler's co-founders. After reading the Barefoot Investor at the age of 14, Kurt got started on his Financial Independence journey early. He invested his $15,000 in "life savings" in 3 stocks based on a stockbroker's recommendation – right before the Global Financial Crisis. Seeing his share portfolio plummet in value (and never bounce back), Kurt resolved to learn all he could about investing, and why retail investment advice gets it so wrong, so often. In 2018, Kurt co-founded Pearler with his two friends, Hayden and Nick, to make it easier for everyday Aussies to invest in shares the right way - incremental amounts in diversified portfolios, for the long-term.
At Pearler, we pride ourselves on the quality of the financial advice we give. Please note though, that this advice has not been tailored for you. You have unique financial goals, circumstances and needs which may make this advice inappropriate, and it is important that you know whether it applies to you. If you are unsure we urge you to speak to someone you trust who is competent with money and understands your individual needs, whether they be a trusted friend or professional.