Evolving Communities
Evolving Communities
I talk often of the financial independence community as if we speak with one voice. As if we are one community. This deep delve into podcasting, however, is starting to show me the error of my thinking. We are not one people. Those who choose to pursue financial freedom come from just about every walk of life. Because of this, there is a self segregation that sometimes occurs based on shared experience and similarities. These similarities bind people together and form all sorts of unique niches. We are not one but many small evolving communities.
This realization comes with a touch of sadness. I am realizing that it is easy to overlook all these communities and miss the richness of what they have to offer.
Flavors Of FIRE
Financial independence comes in many flavors. We are all familiar with the terms lean FIRE, FatFIRE, and Barista FIRE, etc. These evolving communities of financial freedom seekers are all using their own specific terms to define the goalpost.
But it gets even more complicated. Not only is the definition but the path to arrival its own division point. There are minimalists and frugalists. High wage earners verse low spenders. Self employed and the employees. So many different subgroups that one can lump themselves into.
And then there is the question of whether early retirement is even the goal. Should we strive for RE or drop the last two letters off the acronym completely?
Origin Stories
The origin story is yet another way evolving communities are formed. A popular one is the debt story. Another may be the poverty story. We have those who go to college, and those who go to trade schools. Those who suffered great loss, and those who had good financial modeling right from the beginning.
Much of where we are going, and who we associate with, is tied to where we came from. Our origin stories bind us to our fellow travelers on this long journey. We recognize and feel more comfortable with those who have similar financial histories as us.
Cultural/Racial/Gender Identities
Some of the most vibrant evolving communities are tied to how people physically and mentally identify themselves. Whether it be communities centered around women, or families, or people of color. Their are whole subsets of content and creators speaking to each of these subgroups
Thriving communities with their own unique knowledge and lens in which they see financial independence. They have learned to navigate through these difficult waters that we all struggle with.
Why It Matters
If researching and creating episodes for The What’s Up Next Podcast has taught me anything, it is that I have unconsciously self selected the content that I consume to this point. I have missed these evolving communities that have been right in front of my face, but yet somehow out of grasp.
I have stuck with comfort and shared identity, and passed over everything else.
I am realizing that I have limited my knowledge, experience, and the richness of connections that I am making. I have ignored vital voices because they didn’t sound like mine nor did they come from people who look or act like me.
And I’m somewhat embarrassed by it.
Final Thoughts
I’m slowly learning that the financial independence community is not just a solitary entity but many small evolving communities. Up to this point I have stuck mostly with narratives that sounded like my own. I’m hoping to use the podcast as an excuse to break this bad habit to become a fuller, more intelligent, and more in touch human being.
We’ll see how it goes.
Excellent Doc!!! There are so many interesting people out there who are seeking or that have already achieved FI. To see what they are doing to get there or to see what they are doing now, it’s fascinating. The variety of people and how much kindness they have for others within this community (as a whole) is astounding. I enjoy listening to the different stories of all these people and I think many others can be inspired or empowered by these stories. I can’t wait to see what you do with this new found knowledge. Keep up the good work!
Thanks Adam. These thoughts will be reflected in future podcast episodes.
This is wonderful. I think your branching out to the different evolving communities through your podcast is true and authentic to the namesake of your site — DiverseFI 🙂
Btw, you are doing an amazing job on the What’s Up Next podcast. It’s hard to believe that this is your first venture into podcasting!
Thanks. My initial branding holds through although this wasn’t my thinking when I wrote this post.
Truth is. Narrative is not truth. You can tell narrative by the reaction to challenge, for example Suze O. Suze O said basically 4 x25 has too much inherent risk for a high enough % success, she has direct experience of people it didn’t work out for, and the FIRE masses lost their minds with responses designed to “teach her a thing or two!” or “how dare she!” What those responses amounted to were retelling of the narrative: “where the women are strong the men good looking and the children above average.” Have you ever questioned the notion that a “low cost index fund” may in fact not be an efficient vehicle much less “THE EFFICIENT VEHICLE”? How about the “need” for 100% equities early in accumulation? What actually is FI? In a recent study the average cost of a real big deal cancer diagnosis is $92K/yr how long will your nest egg last? Answer: 42% with such a diagnosis go completely broke in 4 years. Did you know 1/3 will get some kind of cancerous lesion during the course of their lifetimes? Is Suze O and her experience part of the FI community or is she excluded because she sings a different song? What about Dave Ramsey? I see a lot who throw his ideas a lot of reverence. I think he’s about 50% full of it and mostly is about selling his really important soap, but his technique can get you out of debt if you’re debt addicted. Beyond debt addiction I think he’s a waste of time. What about MMM? What’s his brand? Where does he get is dough? If you go to his site he has a whole page devoted to his “media”. Is he selling truth or is he masquerading a marketing operation? Are you willing to bet your future based on his marketing operation?
I don’t mean to be critical or rain on anybodies parade, but how much of this is real and how much is an interesting hobby? How do you assign value to each of those ends? What’s up next instead of just another echo chamber has the ability to explore the edges and the contradictions as well as the congruence. That’s how you advance the state of the art.
I think we are trying to explore those things but also not throw the baby out with the bath water.
Thoughtful insights, although I tend to look at the glass as half full rather than half empty. This is an exciting opportunity to discover more paths to FI, based on the many varieties of people you meet in this incredible financial independence community we are all a part of! Your adventure is evolving and I look forward to reading more on your blog & hearing more of your podcast.
I like your optimistic outlook.
I think you are being way too hard on yourself here but at the same time there is undoubtedly some truth in your sentiments. We (FIRE folks) are an eclectic community indeed but are tied together by some important fundamental similarities. Carefully exploring both sides of that coin (the similarities AND differences) is very important. I’m excited to see what new ideas and discussions result from this self reflection of yours. Keep doing your thing Doc (and Paul)!
Me? Hard on myself? Never (actually always)!