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What is FIRE? Is that a different acronym for FU Money?
by pgt 6y ago
What is FIRE? Is that a different acronym for FU Money?
- deleted 6y ago[deleted]
- hbosch 6y agoEdit: What they said below. Usually means debt-free or extremely frugal living and passive income through investments.
- andi999 6y agoIts Financial Independence Retire Early. FU money is 10x FIRE.
- indigochill 6y ago>FU money is 10x FIRE How do you figure? I always had in my mind that FU money was the amount you needed to quit immediately and be fine forever, which also sounds pretty much like FIRE. Granted, my mental model of FU money is not cash in the bank but passive cashflow which is probably coming from investments FIRE-style, which is maybe where the difference is.
- bcrosby95 6y agoYou can be FIRE at around a million in assets. My wife and I ran the numbers and it seemed possible. But we wanted kids and stuff so retirement wasn't in the cards. If you have FU money you don't need to run the numbers. That's how I look at it.
- ghaff 6y agoThat's my interpretation as well. You have somewhere in the mid to high five figures revenue stream without touching capital and own your property--presumably somewhere that costs aren't super-high.
- nsl73 6y agoSomeone at FIRE runs their own numbers. Someone at FU pays someone to run the numbers.
- ghaff 6y agoWhether or not there's a formal difference in the terms, there's normally a difference in how they're used. 1. FIRE tend to mean sufficient money in the bank/money from passive incomes that let you live a fairly frugal lifestyle. See the Mr. Money Mustache stuff that various people are especially taken with. It doesn't tend to mean Retire Early and take expensive trips, buy nice cars, pursue expensive hobbies, buy second homes 2. FU money, on the other hand, tends to mean you don't need to work and can have enough money to do virtually anything you want to. There are degrees of course once you're talking things like private jet ownership.
- ck425 6y agoNot sure about the context of the sibling posts (FU money might mean something different in SV) but within the FIRE community (UK atleast) FU money tends to refer to less money than full FIRE. FIRE means you never have to work again (normally 25x annual spending), FU money means you can quit in extreme circumstances and have enough money to tide over any job search (min of 6-12 months spending).
- nixgeek 6y agoFinancial Independence, Retired Early
- mrlatinos 6y agoYes, "Financial Independence and Early Retirement"
- mandeepj 6y agoFIRE = "Financial Independence and Retire Early"