Playing with FIRE (Financial Independence Retire Early): How Far Would You Go for Financial Freedom?

226 Pages·2019·6.65 MB·English

by  Scott Rieckens

Praise for Playing with FIRE
“In Playing with FIRE, Scott Rieckens shares the essence of the
FIRE movement. And he does it with deeply personal, honest,
and captivating stories that keep the pages turning. If you’re at
all interested in financial independence, retiring early, or just
putting happiness ahead of money, you will enjoy this book.”
— Chad Carson, creator of the blog Coach Carson
and author of Retire Early with Real Estate
“Scott Rieckens has done a phenomenal job of embracing the
FIRE movement and making the hard choices necessary to rad-
ically alter his family’s financial future. His book should be an
inspiration to anyone starting in a similar life position. If you feel
stuck or feel that you are not able to flex your creative talents and
live a life where you are in control, then Playing with FIRE might
be just the book you need.”
— Scott Trench, author of Set for Life
and host of the BiggerPockets Money podcast
“This is a fascinating, relatable, and heartfelt story about a cou-
ple’s transition from ultra-consumers to people who discovered
that time is more valuable than belongings. It weaves together
their personal journey with actionable information, and features
examples of dozens of others who are leaving the rat race in
search of meaning. You won’t be able to put this book down.”
— Paula Pant, founder of affordanything.com
“A truly inspirational story that proves saving is not a sacrifice.
It’s a path to a life you love.”
— Grant Sabatier, author of Financial Freedom
and creator of millennialmoney.com
“With the enthusiasm of a convert and a filmmaker’s feel for story-
telling, Scott recounts his own and others’ journeys in pursuit of
FIRE so that readers can try it on for themselves to see if it fits.
You’ll love meeting the bloggers and writers who’ve stoked the
‘fire’ and the ordinary people who’ve been transformed by it.”
— Vicki Robin, coauthor of Your Money or Your Life
and author of Blessing the Hands That Feed Us
“The path to FIRE is not linear, and this book perfectly captures
the ups and downs many people face along the way. It’s rare,
however, to get such an intimate view into a family’s journey
from the very beginning. This book gives you that and is a fan-
tastic behind-the-scenes look at the upcoming documentary. It
contains interesting backstory, endearing personal moments, and
actionable advice to help you achieve your own financial goals
sooner.”
— Brandon Ganch, Mad Fientist
“What if you could change your life 180 degrees, break free of
the paycheck-to-paycheck grind, and pursue financial indepen-
dence? Scott and Taylor Rieckens chronicle their incredible
turnaround in Playing with FIRE, and their brilliantly simple
advice is applicable to anyone: Spend less than you earn, invest
the difference, and create the space in your life to pursue true
happiness and lifelong relationships.”
— Brad Barrett and Jonathan Mendonsa,
cohosts of the ChooseFI podcast
“To the uninitiated, pursuing financial independence seems ex-
otic, impossible, and/or daunting. But in fact, it is simple and
has roots deep in the American psyche. If you wonder what this
path is like in real life and in real time, Scott and Taylor will take
you along on their journey: not yet finished, a work in progress,
and a very engaging tale.”
— JL Collins, author of The Simple Path to Wealth
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New World Library
Novato, California
New World Library
14 Pamaron Way
Novato, California 94949
Copyright © 2019 by Scott Rieckens
All rights reserved. This book may not be reproduced in whole or in part, stored
in a retrieval system, or transmitted in any form or by any means — electronic,
mechanical, or other — without written permission from the publisher, except by a
reviewer, who may quote brief passages in a review.
Certain names have been changed to protect privacy.
Text design by Tona Pearce Myers and Rodrigo Calderon
Library of Congress Cataloging-in-Publication Data
Names: Rieckens, Scott, date, author.
Title: Playing with fire (financial independence retire early) : how far would you
go for financial freedom? / Scott Rieckens.
Description: Novato, California : New World Library, [2019] | Includes index.
Identifiers: LCCN 2018047667 (print) | LCCN 2018049920 (ebook) | ISBN
9781608685813 (e-book) | ISBN 9781608685806 (print : alk. paper) | ISBN
9781608685813 (Ebook)
Subjects: LCSH: Early retirement. | Thriftiness. | Finance, Personal.
Classification: LCC HD7110 (ebook) | LCC HD7110 .R54 2019 (print) | DDC
332.024/014--dc23
LC record available at https://lccn.loc.gov/2018047667
First printing, January 2019
ISBN 978-1-60868-580-6
Ebook ISBN 978-1-60868-581-3
Printed in Canada on 100% postconsumer-waste recycled paper
New World Library is proud to be a Gold Certified Environmentally
Responsible Publisher. Publisher certification awarded by Green Press
Initiative. www.greenpressinitiative.org
10 9 8 7 6 5 4 3 2 1
contents
Foreword by Mr. Money Mustache ix
Introduction to FIRE 1
Chapter 1: Work, Eat, Sleep, Repeat 11
Chapter 2: The Million-Dollar Idea 23
Chapter 3: Ten Things That Make You Happy 33
FIRE Story: Jillian ■ Kalispell, MT
How Our Family of Seven Reached FI
with an Average Income of $60,000 45
Chapter 4: I Spend How Much on Coffee?! 49
Chapter 5: BMWs and Boat Clubs 59
FIRE Story: Todd ■ New York, NY
Pursuing FIRE in the Big City 69
Chapter 6: Goodbye, Coronado 73
Chapter 7: The Journey Begins 89
FIRE Story: Kalen & Kyle ■ Evans, CO
Is FIRE the Cure for a Certain Brand
of Millennial Depression? 101
vii
Chapter 8: What the Heck Is an Index Fund? 105
Chapter 9: Getting Schooled in FIRE 123
FIRE Story: Sylvia ■ Seattle, WA
How Hurricane Katrina Made Me Pursue
Financial Independence 132
Chapter 10: Family and Frugality 135
Chapter 11: Dream House or Dream Life? 155
FIRE Story: Hannah ■ Denver, CO
How a Fire Pushed Our Family to Reevaluate It All 164
Chapter 12: Finding Our FIRE Friends 167
Chapter 13: The FIRE Is Spreading 177
The Seven Steps to FIRE 187
Acknowledgments 191
Endnotes 195
Index 201
About the Author 209
foreword
ix