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Episode 3126:
Lisa Harrison introduces FIOR, Financial Independence/Optional Retirement, as a flexible alternative to traditional FIRE, offering a more realistic and enjoyable path toward financial security without the pressure of extreme frugality or early retirement. Her approach emphasizes maintaining a strong savings rate while allowing for life's pleasures, making work more enjoyable, reducing the need for side hustles, and ultimately giving individuals more freedom and options.
"By adopting FIOR, you’ll be able to enjoy life along the way by not having to be extreme in all areas."
"The more money you stash away for your future, the more secure you’re going to feel and the more fun your day job will likely become because, wait for it, you won’t need it."
"FIOR gives you options. When you’re on the path to FIOR and you reach FI, you have the option to quit your job, change jobs, stay on the job, or anything else you can dream up."
Optimal Finance Daily - Financial Independence and Money Advice