Brad Barrett—a Certified Public Accountant, an early retiree at 35, and host of the ChooseFI podcast—has spent years living frugally and working toward financial independence. He believes FI is far more than quitting your job early; it's about reclaiming control over your time. From his experiences and conversations with others on the path, here are three key questions he urges prospective FIRE followers to honestly consider:
1. Are you truly ready to change?
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Let go of guilt or frustration from past money mistakes—they don’t define your future.
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Be prepared to prioritize long-term goals over short-term pleasures: skip expensive dinners, plan meals instead of grabbing fast food.
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Conversely, if your savings are healthy, are you also willing to use them to enhance your life today?
2. Can you redefine what “affordable” means?
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In today’s culture, spending first and saving second is the norm. Barrett flips that: “first save, then spend.”
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If your goal is to save 30%, don’t treat your full income as spendable—only use what remains after saving.
3. Can you talk openly about money?
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Conversations with partners or family aren’t optional. Financial independence affects all shared goals.
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If values differ—like one saving vigorously and the other accruing debt—it can create stress. Alignment isn’t just nice, it’s essential.
Final takeaway:
Financial Independence isn’t just about retiring early—it’s about orchestrating a life aligned with your values and priorities. Answering these three questions with honesty and intention isn’t optional—it’s foundational to the journey ahead.