Friday, January 20, 2023

The Importance of Recharging: How Jacinda Ardern's Resignation Aligns with FIRE

FIRE: Financial Independence Retire Early

Jacinda Ardern, the Prime Minister of New Zealand, recently announced her resignation due to feeling "too worn out" to continue leading the country. Ardern has been in office for six years and has faced a number of challenges during her tenure, including natural disasters, the COVID-19 pandemic, and the country's worst-ever terror attack. Her decision to step down highlights the importance of self-care and taking time to recharge one's batteries, which is a principle that aligns with the FIRE (Financial Independence, Retire Early) movement.

The FIRE movement emphasizes saving and investing a high percentage of one's income in order to achieve financial independence and the ability to retire early. The goal is to reach a point where one's passive income from investments is sufficient to cover their living expenses, allowing them to leave paid employment before the typical retirement age. This is typically achieved through a combination of aggressive saving, low-cost living, and investing in a diversified portfolio of assets such as stocks, bonds, and real estate.

Ardern's decision to step down despite still being relatively young and having a successful career highlights the importance of not just financial independence but also the independence of time. The FIRE movement not only focuses on achieving financial freedom but also on having the freedom to choose how to spend one's time, whether that be traveling, pursuing a passion or simply taking time off to recharge. It's a reminder that even though we might have achieved financial success, it's also important to take care of our well-being and mental health.

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