I have finally caved, and from today I’m planning on sharing with my lovely readers (google analytics assures me there’s more than one of you reading) a monthly finance review!
So, if you’ve read building your fire engine and have already automated your savings and investments every month, which means you’ve build FIRE Engine 1.0. Congratulations!
Most people who’ve seen a personal finance blog will have come across the term FIRE, for Financial Independence / Retire Early. There are lots of different interpretations of what it actually entails, but it’s a good umbrella term to get you started.
As for the FIRE “engine”? It’s a mental model for how you’re going to get to financial independence / retire early. Constantly thinking about saving pennies, and interest rates is an exhausting and anxiety-inducing habit, especially for a process that will take years. The engine is something you build over time, and it keeps on going with little external input (just a bit of steering and tinkering to make sure it keeps running and doesn’t drive you into a tree).