Everyone talks about financial independence and retiring early, how they did it, what their strategy was. But does anyone on here do the exact opposite of that and blow your money like a degenerate the minute your get it? Let's hear some stories.
(Note that I don't endorse this type of lifestyle, just curious)
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The concept of FIRE is basically a pension fund. You save up enough money that it’s a homemade pension for yourself and you can live off of it indefinitely. The key thing here is you have enough resources to provide for yourself indefinitely.
The antithesis of that would be having a negative net worth through indebtedness that is so great that you would be in the red indefinitely. Financial servitude. I seriously doubt you’ll get users here that do that, partially because of their views on running their own finances won’t allow for such prodigal spending, or that it’s really hard to even get sufficient lending to put you that far in the hole.
I will say that a lot of people who work lower paying jobs can do this to themselves, so that’s the place to look if you really want the antithesis. Otherwise, what you want seems to be just run-of-the-mill decadent spending. Just my thoughts
the people who have an insane amount of student debt and don't make a lot of money would be the opposite of FIRE
Someone with little hope of a high paying job that could defray their mounting student loans would be the opposite, yes. That’s indefinite financial servitude.
yep you've got to sort of feel bad for those people. a dumb decision when you are young (tons of student loans) can completely ruin your life.
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