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FIRE

by Chris Martenson

Executive Summary

  • Best practices in cost-accounting from the FIRE movement
  • The appeal of the 4% annual expense strategy
  • Life hacks in extreme frugality
  • The Peak Prosperity community shares its collective wisdom

If you have not yet read Part 1: Extreme Frugality, available free to all readers, please click here to read it first.

What if it were possible to uncouple from the ‘rat race’ and thereby regain a big portion of your time to use as you please?

I assume everyone would find that desirable.  Time would open up for one to volunteer, travel, get in shape, meditate, sleep or do whatever you desire.

There’s a well-established movement underway the goes by the acronym FIRE, which stands for Financial Independence Retire Early.  It’s not for everybody, and has a ton of pros and cons, and I’m not advocating that anybody blindly adopt FIRE as their framework, although some of you may already pursue it and that’s fine.

I am saying that the movement has put a lot of thoughtful time into managing the income and expense parts of life and it has a lot of very practical advice to follow if one wishes.

My role is to set the stage. I’ve spent a huge amount of time reading blogs, finding resources, and condensing the learnings to save you time.

And what I’ve learned is…

Live Frugally, Retire Comfortably
PREVIEW by Chris Martenson

Executive Summary

  • Best practices in cost-accounting from the FIRE movement
  • The appeal of the 4% annual expense strategy
  • Life hacks in extreme frugality
  • The Peak Prosperity community shares its collective wisdom

If you have not yet read Part 1: Extreme Frugality, available free to all readers, please click here to read it first.

What if it were possible to uncouple from the ‘rat race’ and thereby regain a big portion of your time to use as you please?

I assume everyone would find that desirable.  Time would open up for one to volunteer, travel, get in shape, meditate, sleep or do whatever you desire.

There’s a well-established movement underway the goes by the acronym FIRE, which stands for Financial Independence Retire Early.  It’s not for everybody, and has a ton of pros and cons, and I’m not advocating that anybody blindly adopt FIRE as their framework, although some of you may already pursue it and that’s fine.

I am saying that the movement has put a lot of thoughtful time into managing the income and expense parts of life and it has a lot of very practical advice to follow if one wishes.

My role is to set the stage. I’ve spent a huge amount of time reading blogs, finding resources, and condensing the learnings to save you time.

And what I’ve learned is…

by Mat Stein

[NOTE: This article is adapted from When Disaster Strikes: A Comprehensive Guide for Emergency Planning and Crisis Survival]

After living in the States off and on for several years, in 2008 Andrew and Mary Hall moved back to their home in Buxton, Australia so they could  be closer to their aging parents. It was a modest, three-bedroom, two-bath house with exterior walls of “mud brick” (adobe) that helped keep the home’s interior cool during the hot Australian summers. With large eaves, a metal roof, and adobe-style mud brick walls, many would consider their home to be reasonably fire-resistant, but its construction proved no match for the forces of nature that turned the neighboring towns of Buxton and Marysville into deadly infernos on Australia’s tragic “Black Saturday” on February 7, 2009.

Approaching Fire or Extreme Fire Alert
by Mat Stein

[NOTE: This article is adapted from When Disaster Strikes: A Comprehensive Guide for Emergency Planning and Crisis Survival]

After living in the States off and on for several years, in 2008 Andrew and Mary Hall moved back to their home in Buxton, Australia so they could  be closer to their aging parents. It was a modest, three-bedroom, two-bath house with exterior walls of “mud brick” (adobe) that helped keep the home’s interior cool during the hot Australian summers. With large eaves, a metal roof, and adobe-style mud brick walls, many would consider their home to be reasonably fire-resistant, but its construction proved no match for the forces of nature that turned the neighboring towns of Buxton and Marysville into deadly infernos on Australia’s tragic “Black Saturday” on February 7, 2009.

by Mat Stein

[NOTE: In light of the tragic loss of life of the brave firefighters in Arizona and for all the men and women firefighters who work to protect lives and property, we all need to make extra efforts to take steps to reduce the risk of wildfires and home fires.  Our work both inside and out of our homes will not only create defensible spaces, but, just as importantly, will assist those who risk their lives to stay out of harms way. This article is adapted from When Disaster Strikes: A Comprehensive Guide for Emergency Planning and Crisis Survival]

Following on the heels of 2012’s record-breaking droughts, heat waves, and fire storms, this year’s fires season is off to an earlier and more deadly/damaging start in several of the western states. If current scientific predictions of global warming prove anywhere near correct, then we can expect that devastating wildfires will become the new normal in the coming years, reaching a broader spectrum of geographical zones that previously escaped such conflagrations. Whether you are a homeowner wishing to improve the fire resistance of your current dwelling or are planning to build a new home, beyond creating a “defensible space” around your home there are a number of other actions you can take to improve the chances that your home will survive a local wildfire. These guidelines are typically applied to homes located in areas where long periods of dry weather are common, such as many of the western states. However, due to changing times, people in many areas where the threat of wildfires was previously a non-issue are now finding it to be a growing concern.

Beyond the Defensible Space
by Mat Stein

[NOTE: In light of the tragic loss of life of the brave firefighters in Arizona and for all the men and women firefighters who work to protect lives and property, we all need to make extra efforts to take steps to reduce the risk of wildfires and home fires.  Our work both inside and out of our homes will not only create defensible spaces, but, just as importantly, will assist those who risk their lives to stay out of harms way. This article is adapted from When Disaster Strikes: A Comprehensive Guide for Emergency Planning and Crisis Survival]

Following on the heels of 2012’s record-breaking droughts, heat waves, and fire storms, this year’s fires season is off to an earlier and more deadly/damaging start in several of the western states. If current scientific predictions of global warming prove anywhere near correct, then we can expect that devastating wildfires will become the new normal in the coming years, reaching a broader spectrum of geographical zones that previously escaped such conflagrations. Whether you are a homeowner wishing to improve the fire resistance of your current dwelling or are planning to build a new home, beyond creating a “defensible space” around your home there are a number of other actions you can take to improve the chances that your home will survive a local wildfire. These guidelines are typically applied to homes located in areas where long periods of dry weather are common, such as many of the western states. However, due to changing times, people in many areas where the threat of wildfires was previously a non-issue are now finding it to be a growing concern.

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