What is the site about?
FIRE-Path Lion is a personal finance website with a specific focus on how to achieve financial independence here in our beautiful little island of Singapore.
FIRE is an acronym which stands for Financial Independence / Retire Early which has slowly become a global movement in the recent years as people start realising that the traditional path to retirement – graduate from university and spend 30-40 years working 9 to 5 to be able to finally enjoy life and freedom at the ripe old age of 65 (if you’re lucky) – is not the way to live. FIRE represents a community of people who knows that there is a better way, a way to quickly, as quickly as within 10 to 15 years, achieve financial independence – a point where you no longer *have* to work for money because your investment income can cover your expenses forever – if you plan, save and invest diligently.
As one of the world’s most expensive cities to live in, you may think becoming financially independent in Singapore is not possible or don’t know how to get there. That is precisely why this blog is here to help.
This blog documents my journey towards financial independence – all my learnings, mistakes, challenges I face and what I am doing to get me to that goal – and my hope is that it will give you a better idea on how you can do the same.
Why do you want to retire so early? What are you going to do with yourself?
Most of the misconception about FIRE is when people hear the words “retirement” they always think about somebody who sits in front of the TV all day, bored and withering away their final days. That could not be further from the truth! The focus of FIRE isn’t so much the traditional idea of “retirement” but more about freedom and “independence.” The freedom to choose where to work, when to work, and whether to work! The freedom to travel anywhere at any time whenever friends or family want to organize something. The freedom to be home with the kids and spend time with them during the summer holidays. The freedom to pursue hobbies that may or may not make any money. The freedom to volunteer for a non-profit without the worry about earning enough to pay the bills. The freedom to choose to work or choose to lie around on the beach and do nothing.
Once you reach Financial Independence, your life is yours again instead of shackled to your job. It does not mean you have to quit your job or spend time bored at home, far from that. It gives you control over your life.
Who is the FIRE-Path Lion?
I am a 36 years old Singapore Permanent Resident working in the finance industry here in Singapore. I am married, no kids and an avid gamer (probably way too avid according to my lovely wife.)
Aside from playing all sorts of games – PC games, Playstation games, board games, card games, mobile games – I enjoy reading, taking a nice stroll and just having a nice cold beer with friends outside in the afternoon breeze.
I am working hard towards achieving Financial Independence for myself and my wife. The goal is to get there before we are 45 and never have to work for money again unless we truly want to.
When did you start your journey?
I started my journey back in 2016 after switching jobs and earning an increased income. Finally, I was able to earn enough to cover my expenses and still have enough left over to save and invest.
At the time I had no clue how to invest and what to do with my savings; what I did know was that I wanted the money to start working for me. That was when I started reading up on personal finance books, aggressively saved and started putting any extra money I had into the stock market. At the beginning I didn’t really know what I was doing but pretty quickly discovered the Bogleheads, Mr. Money Mustache, JL Collin’s Stock Series & The Simple Path to Wealth and the FIRE community. That was when it was clear that becoming financially independent was not only possible, but it could be done extremely quickly – within 10 to 15 years – if only I controlled my spending, reduced my expenses, saved and invest diligently and, most importantly, that it could be done by anyone, not just expert wallstreet traders.
Once I understood that I don’t have to follow the standard paths to retirement – essentially work hard for 30-40 years to save just enough money and retire only after 65 – and instead I could have enough to never work again in just 10-15 years, my mind was made up and I never looked back.
So I hope you follow me on this exciting journey and be inspired to also take your very own journey towards financial independence! I always welcome questions, comments and feedback so don’t be afraid to reach out at firstname.lastname@example.org.
Let’s get started!