From Morningstar: 2025-06-03 10:35:00

Stephen Baughier invited the author to speak at CampFI in Spain, focused on financial independence. The author met several prominent figures in the FIRE movement and appreciated the conference’s small size. Many attendees were focused on early retirement, while others pursued financial independence with different goals and lifestyles.

The author discussed how the FI community is diverse, with some aiming for early retirement and others choosing financial independence for flexibility. The conference highlighted the importance of defining financial independence on individual terms, regardless of age or lifestyle choices. The author found the nuanced stories shared at CampFI to be eye-opening.

The conference sparked reflections on work and retirement for the author. While some pursue early retirement due to job dissatisfaction, the author emphasized the value of meaningful work. The author encouraged reevaluating motivations for working longer than necessary and considering unconventional paths to financial independence.

Flexible spending plans were a key topic at CampFI, challenging traditional retirement spending guidelines. The author questioned the 4% spending rule and highlighted the importance of flexibility in spending for long-term financial security. The conference emphasized the value of budgeting and adaptability in ensuring a sustainable retirement portfolio. Rising affluence can lead to the “hedonic treadmill,” where better things no longer impress us. A conference experience in Santiago, with spartan accommodations, led to a revelatory solo lunch at a Michelin-starred restaurant. The lesson learned was to savor luxuries and balance, avoiding taking things for granted.

A conference inspired valuable lessons, including defining financial independence and challenging conventional retirement plans. It emphasized the importance of getting outside comfort zones to encounter new ideas and people that challenge preconceived notions. The recipe for healthy aging involves exposure to diverse perspectives and lifestyles, rather than self-segregation.



Read more at Morningstar: My Baptism by FIRE: Lessons from the Financial…