Saturday, May 5, 2018

Is FIRE an unaccepted idea in Singapore?

I briefly shared the concept of FIRE with a couple of friends lately and while they did not openly denounce it, I can feel them almost sneering at that idea/me. Sadly, FIRE still have a big social stigma in Singapore. I have written about it before, but this time I am actually experiencing it for myself.

I feel you will either come off as trying to show off, having people think you earn a lot, or being totally unrealistic. FIRE is just too foreign to most Singaporeans - retirement is already impossible, and you're think about doing it much early?!

Just look at the amount of diss netizens rain on ASSI, 3Fs and other financial bloggers on the same path or have already achieved the dream. People that can do just do it, people that can't complain. Well, not that I need their approval.

Like this author experience, I think it's an "Asian Culture" problem. FIRE is seen as something "wihout ambition" and failure to contribute to society.

I see friends that are earning much much more than me (talking about near 5 digits) "struggling" to meet payments for all sorts of luxuries - new cars, mature estate HDBs with expensive renovations. Nothing wrong, just different priorities in life.

In fact, FIRE isn't a loftly or noble goal either. In fact, I think FIRE is largely a selfish goal, a goal to serve yourself.

Also, a modern society probably cannot sustain one where everyone else is working towards FIRE and minimialism. In a way, the FIREers are depending on the consumerism behaviour of the masses to survive.

Anyway, what's my ideal age to reach FIRE? I am of the same opinion as the Financial Sumari.

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