{"id":168393,"date":"2025-09-29T15:30:06","date_gmt":"2025-09-29T15:30:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/168393\/"},"modified":"2025-09-29T15:30:06","modified_gmt":"2025-09-29T15:30:06","slug":"being-truly-fire-is-terrible-for-entrepreneurship-but-thats-ok","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/168393\/","title":{"rendered":"Being Truly FIRE Is Terrible For Entrepreneurship, But That’s OK"},"content":{"rendered":"

In 2020, during the heart of the COVID pandemic, I remember listening to a FIRE-focused podcast hosted by two people who claimed to be financially independent and retired early. Even though it\u2019s been over 16 years since I first started writing about FIRE<\/a>, the topic still fascinates me. The journey toward financial independence is full of twists and turns, and people\u2019s real-life experiences are always insightful.<\/p>\n

But one particular episode caught me off guard. The two hosts\u2014who built their entire brand on the idea of never needing to work again\u2014asked listeners for financial support to keep their podcast running. Soon after, I saw an email making the same plea. <\/p>\n

I remember thinking,\u00a0Wait a minute. If these folks are truly FIRE, why would they need to ask for money to keep a passion project alive? Just fund it themselves! <\/p>\n

I wasn\u2019t judging the need for donations itself. Creative projects cost time and money, and compensation is deserved. But the ask didn\u2019t match the premise. If they were genuinely financially independent, surely they could afford a few thousand dollars a year to sustain their own show, especially one that was meant to showcase the freedom FIRE provides.<\/p>\n

How Much Does a Podcast Really Cost To Produce?<\/p>\n

I have the Financial Samurai podcast (Apple<\/a>, Spotify<\/a>), so I know exactly what goes into production. A decently produced, professional-sounding episode doesn\u2019t have to break the bank. Editing an hour-long episode might cost anywhere from $100 to $600 maximum depending on the level of polish and sound add-ons. <\/p>\n

My biggest expense is time. Recording, editing, and uploading a 45-minute show can easily consume four to five hours between my wife (editor) and me.<\/p>\n

That\u2019s a significant chunk of time for something that isn\u2019t mission-critical. I\u2019d rather spend that time writing, hanging out with my kids, or playing tennis for exercise.<\/p>\n

Not FIRE, But An Entrepreneur Instead<\/p>\n

Given the manageable costs and the fact that FIRE is supposed to mean \u201cwork is optional,\u201d it struck me as odd that these podcasters were asking for financial help. The more I thought about it, the more I suspected that maybe they weren\u2019t actually financially independent. <\/p>\n

Maybe they were simply entrepreneurs running a small business, worried about declining revenue and grasping for ways to keep the lights on during COVID. After all, they’ve never shared their net worth or passive income figures<\/a>, so we have no idea.<\/p>\n

As someone who helped kickstart the modern-day FIRE movement in 2009, I often hear a common criticism<\/a>: some FIRE influencers haven\u2019t really \u201cretired,\u201d they\u2019ve simply traded a day job for entrepreneurship. There’s a lot of smoke and mirrors due to a lack of transparency. <\/p>\n

I totally get it. <\/p>\n

Podcasts don\u2019t record themselves and articles don\u2019t magically appear overnight. I spend about 15 hours a week writing, editing, and responding to comments and emails on Financial Samurai. To acknowledge this dynamic, I even wrote a post about being a\u00a0fake retiree<\/a> for 10+ years, to hang a lantern on the situation. So for the podcasters to ask money from their audience helps buttress this criticism.<\/p>\n

For me, I love writing, connecting, and learning about personal finance. After working 60+ hours a week for 13 years in banking, there\u2019s no way I could just sit around playing golf or tennis all day in retirement. I need to stay productive and mentally stimulated for a two-to-three hours a day. That is my sweet spot.<\/p>\n

Along the way, Financial Samurai generates supplemental retirement income, which helps keep our safe withdrawal rate low<\/a>, and both my wife and me out of Corporate America since 2012 and 2015, respectively. We hope the run continues indefinitely. <\/p>\n

To not monetize my passion would be completely irrational. Running Financial Samurai costs over $10,000 a year for the dedicated server, email services, and tech support, excluding labor. However, I’d rather not ask my readers for donations because it feels inconsistent with my FIRE philosophy. A share or a review of my podcast or books<\/a> are enough.<\/p>\n

FIRE Will Make You a Terrible Entrepreneur<\/p>\n

Although I stopped listening regularly after that episode, the show carried on. About a year later, one of the hosts left \u2013 presumably to pursue better opportunities with his time. The remaining host kept grinding, and today the podcast is thriving. I\u2019d bet it now generates at least $150,000 in net profits. Awesome!<\/p>\n

And that\u2019s exactly the point. When you\u2019re not truly FIRE\u2014when you still need or strongly want more money\u2014you hustle. You create. You innovate. You do everything possible to keep the revenue flowing. You even ask your audience for donations during a global pandemic, if that\u2019s what it takes.<\/p>\n

The hunger to survive and grow is what fuels entrepreneurship. But if you\u2019ve already reached a level of passive income<\/a> that comfortably covers your living expenses, that hunger fades. Without that pressure, you might not push as hard. You might even, gasp, become a terrible entrepreneur.<\/p>\n

Here are some of the things I could do to make more money:<\/p>\n

Create a YouTube or TikTok channel<\/a><\/p>\n

Hire a team of writers to publish more articles and drive more traffic<\/p>\n

Bring on a salesperson to secure more advertising partnerships<\/p>\n

Become a paid speaker at conferences after writing two national bestsellers <\/p>\n

Do more personal finance consulting<\/a> instead of throttle it to only one a month or when a book comes out<\/p>\n

Publish one or two podcast episodes each week, instead one one every three weeks or so<\/p>\n

Spend at least an hour a day posting on social media to boost engagement and traffic<\/p>\n

Pitch TV producers on shows, like my idea\u00a0Love Is Money<\/a><\/p>\n

The thing is, I just can\u2019t be bothered, which is why I’ve kept my cadence since 2009. I didn\u2019t leave a job to create another one in FIRE. Managing people and constantly selling yourself is exhausting. If you want to subscribe to my newsletter<\/a> and read Financial Samurai. Great! If not, also great!<\/p>\n

I\u2019ve found a sweet spot \u2013 creating and interacting between 6 am \u2013 7:45 am, then again for an hour after the kids go to bed \u2013 where I feel the most fulfilled and happy. Anything much beyond 20 hours starts to feel like a J O B.<\/p>\n

I respect the grindcore hustle<\/a>, but I simply don\u2019t have the same drive at my age. Financial independence has sapped my entrepreneurial edge.<\/p>\n

But if I was desperate for money for whatever reason, hell yeah I’d try out these new initiatives! I’m not too proud to work a minimum wage service job<\/a> to provide for my family. I’ll do whatever it takes to ensure they are secure. <\/p>\n

The Enthusiasm to Grind At Work Naturally Fades<\/p>\n

Once you\u2019ve reached the\u00a0Minimum Investment Threshold<\/a>\u00a0where work becomes optional, the thrill of going above and beyond at a day job starts to wane. Coming in early or staying late feels pointless. Meetings get skipped, after-work drinks declined, and weekend boondoggles replaced with family time. Even that once-exciting business trip to New York loses its shine.<\/p>\n

For entrepreneurs, the drop in motivation can be even steeper. Unlike employees, there\u2019s no boss dictating the day. You have to be a relentless self-starter while wearing every hat\u2014creator, marketer, accountant, PR rep, and business development lead. Forcing yourself to build and grow a business when you already have enough passive income is a tall order.<\/p>\n

When My Desire to Earn Returned<\/p>\n

My drive to earn spiked twice recently: when my daughter was born in December 2019<\/a> and after buying a new house in 2023<\/a>. <\/p>\n

Lockdowns made entrepreneurship from home a logical focus. If the government was going to take away my freedom, I sure as hell was going to make the most of being online! Then the house purchase cut my passive income<\/a> enough to reignite the urge to rebuild it.<\/p>\n

But after two strong years of stock market gains and a rebound in San Francisco home prices, I\u2019m back to sleeping in and caring less about revenue optimization. Our finances now depend far more on market performance than on entrepreneurial income. Maintaining the right asset allocation<\/a> matters more than squeezing out extra business profits. Go bull market!<\/p>\n

This lull is exactly why parents should\u00a0never give their kids money for nothing.\u00a0If they want spending power, they need to earn it. No matter how wealthy we become, showing at least a baseline level of hustle is essential so our kids develop a strong work ethic when they have nothing. Just say no to entitlement mentality<\/a>! <\/p>\n

The Comfortable Path Pays Less<\/p>\n

Here lies the paradox of FIRE: you escape the rat race, but you also lose the urgency that drives extraordinary entrepreneurial success. When you no longer\u00a0need\u00a0to make money, you\u2019re less inclined to chase every opportunity or sell your business for top dollar.<\/p>\n

That\u2019s not necessarily bad. It\u2019s freeing. But to thrive as an entrepreneur without a profit motive, you need to be extremely greedy, deeply mission-driven, or truly love your product. Without that internal fire, long hours and relentless growth simply won\u2019t happen.<\/p>\n

Creative Longevity: FIRE\u2019s Hidden Gift<\/p>\n

If FIRE makes you a bad entrepreneur, at least it can also make you a longer-lasting one. Because I\u2019m not burning out chasing revenue,\u00a0Financial Samurai\u00a0has endured since 2009, a lifetime in internet years. Many flashier sites scaled fast, burned hot, and disappeared when founders lost interest or ad dollars dried up.<\/p>\n

My slower, steadier approach may never produce a headline-grabbing exit, but it delivers something equally valuable: staying power. I can keep writing, podcasting, and engaging for years because I genuinely enjoy the work. Enjoyment, not maximization, is what keeps a project alive.<\/p>\n

Financial independence has made me a less aggressive entrepreneur but a happier human. It also gives me time to set an example for my kids. I want them to see the value of curiosity and discipline, and if I can keep this site running until 2040, maybe I can even provide a form of career insurance<\/a> if they struggle after college.<\/p>\n

For now, I\u2019m content not to maximize revenue because we already have enough. But if the day comes when my family needs me to earn more, I will. That responsibility as a father never goes away, even if the urgency to chase dollars does.<\/p>\n

What are your thoughts on how being truly FIRE affects an entrepreneur\u2019s path? Could it be that when you no longer need money to survive, you\u2019re actually free to become a\u00a0better\u00a0entrepreneur because you can focus entirely on creating the best product possible? And do you find it strange when a FIRE influencer asks their audience for donations?<\/p>\n

Subscribe To Financial Samurai\u00a0<\/p>\n

Pick up a copy of my USA TODAY national bestseller,\u00a0Millionaire Milestones: Simple Steps to Seven Figures<\/a>. I\u2019ve distilled over 30 years of financial experience to help you build more wealth than 94% of the population\u2014and break free sooner.<\/p>\n

Listen and subscribe to The Financial Samurai podcast on\u00a0Apple<\/a>\u00a0or\u00a0Spotify<\/a>. I interview experts in their respective fields and discuss some of the most interesting topics on this site. Your shares, ratings, and reviews are appreciated.<\/p>\n

To expedite your journey to financial freedom, join over 60,000 others and subscribe to the\u00a0free Financial Samurai newsletter<\/a>. You can also get my posts in your e-mail inbox as soon as they come out by\u00a0signing up here<\/a>. My goal is to help you achieve financial freedom sooner, rather than later. <\/p>\n","protected":false},"excerpt":{"rendered":"In 2020, during the heart of the COVID pandemic, I remember listening to a FIRE-focused podcast hosted by…\n","protected":false},"author":2,"featured_media":168394,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[84,4203,56,54,55],"class_list":{"0":"post-168393","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-business","9":"tag-entrepreneurship","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/168393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=168393"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/168393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/168394"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=168393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=168393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=168393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}