Financial Independence Retire Early: Why You Need To FIRE

Financial Independence Retire Early (FIRE) is a movement that pushed individuals to retire as young and early as possible by achieving financial independence from a young age, and not at 65.

It’s a basic numbers game, to FIRE, you need 25X of your annual spending. This means if you spend $25000 a year, you’ll need $625K (which is $25K x 25). Which is based on the 4% withdrawal rate annually (but I’ll instead invest the $625K for 4-5% dividend returns so that my principal amount will be kept intact.

That’s that general overview, and the most important thing to consider is:

Table Of Contents

1) WHY

1a: Time freedom.

This scores highest on my list because our time on earth is limited (most average humans live 75-90 years old) and I’m not going to wait till I’m 65-70 years old to retire, leaving 10+ years to enjoy. Besides, by then, I probably can’t walk that much or may be in too much pain to enjoy retirement.

I prefer to enjoy retirement when I’m younger, when I can still have the health and energy to spend time with my wife, kids, family, friends etc; and maybe work till I die if the work is super meaningful and brings a lot of relationships together. Maybe.

1b. Flexibility to pursue

– interests such as studying law, art, philanthropy, medicine etc
– spend time with people, animals and projects that I care about
– serendipitous moments or opportunities
– happiness

2) HOW

This is the easy but boring part – the basic how is generally EARNING MORE and/or SPENDING LESS.

Spending less will help you achieve your FIRE goals much faster, but there is only so much you can save and cut back at times, and I don’t want to cut back too much until retirement isn’t fun.

This is one of the reasons why I chose entrepreneurship, to accelerate my FIRE journey and at the same time, meet and serve more people that I care and like =)

Where To Next?


  • If you’re new here, do subscribe to my newsletter – no spam and just my best stuff. Unsubscribe anytime.
  • Go to the Start Here it’s created to be my good success and life thesis, so it’s very content heavy (Read: lots of words and links to resources, write ups and videos). It’s constantly updated too with new data and updates as often as I can.
  • If you like videos, head to All Videos – all the latest (and all) videos are uploaded there.
  • Visit the Blog to read the latest articles and videos. You can see all / my entire list of previous articles here: Archive
  • Head over my Resources page to see the curated products and services I use / have used to improve different aspects of my life be it business, relationships, health and more. Note: recommendations in nigelchua.com may be affiliate links, which means I may get paid if you choose to buy through my affiliate link.
  • If you’d like to ask me any questions, head to the Questions/Ask Nigel section
  • Contact me if you like to thank me for helping you in some way (please, always tell me – it’s such emails that I truly look forward to), interview me, ask me to try a product, or media inquiries.
  • If you like my work and want to support me / my cause by giving a tip / donation or choose to buy stuff at my products and tool page – thank you for your support. You keep me going.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.