- We met The Dragons on FIRE at FinCon 2019 in Washington DC.
- Their website is The Dragons on FIRE.
- Both were born in the year of the dragon.
- Before FIRE, they hadn’t done a lot of retirement planning.
- Never considered early retirement.
- In 2017 Dragon Gal began to experience job fatigue with her teaching job.
- She Googled early retirement and discovered Mr. Money Moustache.
- She didn’t think Dragon Guy would have a problem with her retiring early but she knew he needed a framework to get his mind around it.
- FIRE enables them to talk about money in a new way and got her more involved because she doesn’t have a finance background.
- The key piece of information from Mr. Money Moustache is the 25 X rule which is a straight-forward way to figure out how much is needed to retire. For more information check out my presentation on Financial Independence.
- They lived frugally, saved and invested, but didn’t know where their net worth placed them with respect to time left to retire.
- Financial Independence gives them freedom to choose to work or not. Dragon Guy no longer has a full-time job but is working a 3 month contract job.
- Dragon Guy is a cancer survivor. So he added in extra medical expenses when calculating their expected annual retirement expenses.
- Once Dragon Guy’s contract is over they expect to travel. He’s not concerned about finding his retirement purpose. He’s still adjusting.
- Dragon Gal has been retired for 2 ½ years.
- She’s had time to reflect and has concluded that what she does and how she feels is all on her. Can’t use work as an excuse anymore!
- Even with all her activities, including volunteering, she still has lots of time.
- She can’t rely on a job for her social network. She has to get out there if she’s feeling lonely.
- Just like it takes a long time to build a career it takes time to build a satisfying retirement
- They were inspired to start their blog by the FIRE community. It’s evolved from being about cancer to a fun digital diary.
- Dragon Gal writes a lot about de-cluttering which has gotten her used to the idea of living with less. It helps her examine whether she has enough, i.e. money and possessions. She considers it an arm of FIRE.
- De-cluttering simplifies life and helps with cost cutting.
- Their “why of FI” is having freedom to live life according to their values. FIRE has facilitated that process.
- Their final thought is that tracking expenses is crucial. You need to know what you’re spending on so you can take the most effective actions.
- For more information about FIRE, check out these FAQs
- Click on this link to listen: FW 007 Hop Spot
- For more information about the beers we tasted click on an image