Like every Christian, I find myself struggling between purpose and societal pressures that all of us face daily.
I grew up in a household where faith and money were the two most discussed topics around the dinner table. From a young age, I was taught that money was a tool. As Christians, we are called to be stewards of the resources we are given. We are to prioritize generosity, provide for our families, and grow the resources we have been entrusted.
However, my family was rather affluent – especially, for our area. I didn’t realize how challenging it would be once I escaped the bubble!
In my first job out of college, I found myself working several months of 80+ hour weeks as a CPA.
I knew this wasn’t my calling, but I wasn’t sure exactly what my exit plan would be.
However, one of the benefits of working that many hours in the office was that I had PLENTY of time to listen to educational podcasts.
Since I enjoy personal finance, I found myself rummaging through a variety podcasts that discussed investing strategies, career advice, and other self-help topics. To be frank, I was looking for a way to escape.
It was one of those late nights at the office that I discovered what is known as the “Fire Movement.” In my head, I thought that this is what I’ve been looking for!
A chance to take back control of my life and time. To one day no longer have to ask my boss for PTO or choose between my kid’s game and preparing for some high-pressure meeting the next day.
I thought the FIRE Movement may be my ticket to a more fulfilling life.
What is the FIRE Movement?
Before we analyze faith v. FIRE, we’ve got to establish what the FIRE Movement really is.
FIRE stands for “Financially Independent, Retire Early.”
You know that old-fashioned rule of thumb that says you should save or invest ~15% of your income for retirement and wait until your 65 to quit working? Well, those who adhere to the FIRE lifestyle take it to a whole different level.
Often, those who look to “FIRE” save 50%, 60%, or even 70% of their take home pay! They invest in index funds or real estate until they have enough passive income that replaces their living expenses. Using the popular 4% Rule, the save and invest until their portfolio reaches 25 times what they need to pay their bills.
This means for every $10,000 in spending, those who want to retire need $250,000 invested. That’s a lot of money – no joke!
For this reason, many of those who are looking to escape their 9-5 jobs do everything they can to cut their expenses to the bare bone. This reduces both the amount they need to save AND what is left to plow into investments each month.
Oh, and did I mention most of those in the FIRE Movement want to retire early. And no, not just at 62.
Many of those in the FIRE Movement retire in their 40s, 30s, and EVEN in their late 20s!
Types of FIRE
There are different degrees (*wink) of FIRE.
Some of those who are looking to “FIRE” live very frugally ($30k or less) without working. These folks look for scrappy ways to save such as by house hacking, driving older vehicles, and limiting consumption.
Some wait until they have enough saved to maintain a more middle-class lifestyle. They may live slightly less frugally (i.e. not to the extreme).
Even then, there are others (known as “Fat FIRE”) who are truly wealthy and can essentially live a rather lavish lifestyle without the need to ever work again.
Some iterations of FIRE are known as “barista FIRE.” Sounds weird, I know. However, the general premise as that these people can simply get a part-time, low-stress job that provides a minimal amount of income and perhaps insurance benefits to supplement lifestyle desires. The rest of the money comes from their savings and investment portfolio.
Ultimately, the end goal is to no longer have to trade time for money. With the excess time, they pursue passions, hobbies, or other ventures.
Key Tenants of the FIRE Movement
The key values of the FIRE Movement are not universal. There are often a lot of views of what the “path to FI” looks like.
Most believe these wealth-building strategies are simply a means to provide optionality.
The overwhelming focus is to spend money on ONLY the things that the individual values and eliminate unintentional, wasteful consumption. With each dollar saved, those looking to achieve financial independence will be buying back a portion of their future time – even if it’s a sacrifice today.
Another theme is that “retiring” is not required.
Some followers believe that building a large nest egg will give you the bandwidth (both time and money) needed to pursue other enjoyable endeavors. This could lead to starting more lucrative businesses, building a real estate portfolio, or simply volunteering with organizations you care about.
In essence, living frugally provides the bandwidth to build wealth and achieve your calling in life – without the parameters set by an employer.
The FIRE Movement is certainly countercultural to American consumerism!
What Does the Bible say about Money?
There are over 2,300 verses in the Bible that talk about money and possessions. Needless to say, God has a few thoughts on how we should manage our resources!
One of the most popular verses quoted on the topic of money is 1 Timothy 6:6-10:
6 But godliness with contentment is great gain. 7 For we brought nothing into the world, and we can take nothing out of it. 8 But if we have food and clothing, we will be content with that. 9 Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. 10 For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.
My initial thoughts on these verses from 1 Timothy…
I’m sure we’ve all heard that the love of money is the root of all evil.
I believe this is so frequently quoted for a variety of reasons. For some, it comes from a jealous heart. They think those who become wealthy must have cheated there way to the top. And in some certain instances, they may have become wealthy at the expense of others. However, most of the time, wealth is accumulated honestly through disciplined, consistent savings habits.
For those who have been fortunate, they may read this verse and think, “I don’t love money.” I love my wife. I love my kids. I even love God and my church family!
However, what does love look like?
1 Corinthians 13 provides the Biblical definition of love.
4 Love is patient, love is kind. It does not envy, it does not boast, it is not proud. 5 It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. 6 Love does not delight in evil but rejoices with the truth. 7 It always protects, always trusts, always hopes, always perseveres.
Think of the ways we earn money. Do we earn our income through honest, upright means? Does how we earn money honor God by exemplifying these traits with our co-workers, customers, boss or employees?
Do we flaunt or money or possessions out of pride? Are we jealous of others’ successes? For some of us, we sacrifice other aspects of our life such as family time in pursuit of that extra sale or promotion to pursue more income.
None of us are perfect with money or material items 100% of the time. At times, we all focus too much on career, finances, or dishonor God with our financial choices. Sometimes, we’re discontent with our current plight in life.
Instead, we should honor God with our finances and be content, trusting that He will always provide for us!
Does God want us to be wealthy?
1 Timothy 6:9 states those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction.
At first glance, it seems like the Lord is explicitly warning us against wealth and possessions.
However, as we see in the Parable of the Talents (Matthew 25), God expects us to multiply our gifts and resources for His purpose.
So, which is it? Are we to live modest lifestyles and not drive to be wealthy or are we to accumulate wealth through investing the resources we are entrusted?
The answer may not seem straightforward.
My thoughts on if God wants his people to build wealth
In the end, I believe that we are the stewards of the resources that God provides. Ultimately, our time on Earth is rather short in the scheme of eternity.
However, during our time on this planet, we are called to earn our incomes in a way that honors God, spend our money in a way that honors God, and we are to invest and grow our wealth to that we can give in a way that honors God.
Whether our circumstances result in us having to live on disability or governmental assistance, or if we found the next Amazon and become billionaires, we are called to live a life with God in the center of all of the choices we make – including money.
I do not necessarily believe that building wealth is bad. But, empire building out of greed and selfish desires will probably result in choices that are counter to God’s plan.
In a capitalistic society, money is necessary to function. However, even the wealthiest in the world will eventually pass away, so we must focus on leaving Kingdom legacies. Our financial choices are certainly key to pointing people to Christ.
Faith v. FIRE: Should Christians Pursue Financial Independence?
Ultimately, Christians pursue God and His plan for our lives. (I know… that’s the church answer).
A desire for financial independence often is driven by a few potential drivers:
Discontentment with current occupation or circumstance in life
If you find yourself discontent in your current work, you may find financial independence appealing. I even found myself in this bucket! I knew I was in the profession that God wanted me to be in; however, the workload came at the sacrifice of everything else.
I would encourage you that if you are discontent in your current profession, do NOT “check out” or halfway perform you duties. Instead, continue honoring God with your work product. Often, this will make you stand out and provide the opportunity to share your “why” behind your drive. This discontentment could be a learning and growing opportunity. God could be preparing you for the next steps in your career!
That said, that doesn’t mean you must continue doing something that does not align with your God-given, long-term career aspirations forever.
Instead of focusing on stacking money to escape, perhaps you can find a role that aligns with the innate desires you’ve been wired to have.
Could excessive debt be the source of our discontentment?
Debt is another burden that may drive us to focus too much on building wealth.
Debt and financial obligations may put undue burden on our daily decisions and result in financial stress. Perhaps, your job does not pay enough to service your obligations and live stress-free. Maybe, excessive “bad” debt such as credit cards or personal loans is a symptom of something bigger – like discontentment or excessive spending.
Proverbs 22:7 states the following: The rich rules over the poor, and the borrower is the slave of the lender.
Owing people and institutions money gives us this feeling of enslavement. We no longer have the freedom to pursue individual choices. Instead, we have another party we are obligated to keep in mind when making decisions.
How does the FIRE mentality fit in?
The pursuit of financial independence often starts from discontentment in working their 9-5.
Either they do not like the work, or they do not like the opportunity cost of working 40-50+ hour weeks. Instead, they feel trapped by debt – both literal obligations and being indebted to their employer to provide their paychecks.
Ultimately, those who look to FIRE want time freedom.
Inherently, this means that those on the path to FI believe there is something bigger to life than climbing the corporate ladder, earning more money, buying “stuff” that will have no value, and trading time for money. Honestly, I don’t disagree!
I think the difference in the FIRE Movement and how Christians should examine “financial independence” is through the purpose in their life.
Often, those in the FIRE Movement are pursuing it through a noble lens. They want to spend more time with family. There is a desire to strengthen relationships through new experiential travel. For many, the pursuit of alternative business ventures is appealing. Absolutely, there is nothing wrong with these reasons!
The only difference could be the underlying heart behind the purpose.
As Christians, we’re called to purpose in submission to God’s plan. Maybe, His plan is for you to break out of the corporate grind because your purpose was never to be the next C-suite executive. However, he may have wired you to be His representative in a toxic workplace as an opportunity to better the company culture. After all, don’t we need more Christian leaders in the secular world?
However, you may feel that tugging to be a stay-at-home mom or dad. Rearing the next generation is certainly a noble, full-time endeavor! If work or excessive debt burdens are keeping you from the purpose implanted in your heart, then certainly achieving some level of FI could be warranted.
In the end, Christians should focus on the “why to FI.” Pursuing FI out of selfish ambitions will be fleeting and will not provide contentment. However, having a purpose that aligns with God’s plan for our lives will always be best in the long-term.
Faith v. FIRE: Should Christians Pursue Early Retirement?
We were all built to work.
However, that doesn’t mean we have to work in traditional employment or even earn a paycheck!
Is the stay at home mom or dad any less valuable in God’s eyes just because their work doesn’t result in direct pay? Of course not!
Work takes a lot of different shapes and forms and comes with different “payouts.“ Just because you “retire” from traditional corporate work does not mean a life of laziness and waste.
Financial independence can provide the safety net to pursue other desires
Freedom to be entrepreneurial is a key concept in FIRE.
In fact, most of the leaders in the FIRE space still earn active income through entrepreneurial ventures.
In your current role, you may feel discontentment because it’s not your calling in life. However, you want to balance it with the need to earn income to support your family.
Even if you are not fully independent from the need for active income, living frugally can lower the barrier and provide cushion to pursue the desires God has placed in your heart.
FAITH vs. FIRE
FAITH does not have to be vs FIRE.
Instead, financial independence and your faith can overlap as long as you focus on keeping your faith foremost.