The financialization of anti-capitalism? The case of the ‘Financial Independence Retire Early’ community

Taylor, Nick; Davies, Will

doi:10.1080/17530350.2021.1891951

Cited by 8 publications

(16 citation statements)

References 33 publications

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“…Youth interpreted financial freedom as earning sufficient passive income and not having to work in the traditional way that previous generations saw as the default option. This is similar to the principles of the FIRE (Financial Independence Retire Early) movement (Taylor & Davies, 2021 ). Some of them explicitly stated the ecological arguments that the FIRE philosophy prioritizes.…”

Section: Discussionsupporting

confidence: 64%

“…It is possible that they have not consciously acknowledged the connection between their financial decisions and FWB. Youth seems to be more keen to invest, and see crypto-assets as a quick path to reaching financial freedom, again, similar to the FIRE movement (Taylor & Davies, 2021 ). The latter is a concern as they may take unreasonably high risks without adequate understanding of such assets, and their aspirations for reaching financial freedom may suffer as a result.…”

Section: Discussionmentioning

confidence: 99%

“…On the other hand, it may simply be they reached an acceptable socio-economic status. It could also be because the FIRE philosophy is popular only among the young (Taylor & Davies, 2021 ).…”

Section: Discussionmentioning

confidence: 99%

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From Security to Freedom— The Meaning of Financial Well-being Changes with Age

et al. 2023

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Financial well-being is becoming more prominent in policy, research, and the financial sector. However, there is a lack of understanding of its meaning, and the vast majority of financial well-being research employs quantitative methods whereas recent literature reviews advocate for qualitative studies into the meaning of financial well-being and its associations with age. We contribute to that by conducting exploratory qualitative research into the phenomenon of perceived financial well-being and its components. It is based on three studies each of which used in-depth semi-structured interviews ( N = 47). The first key finding is that youth perceive financial well-being to be comprised of three components: keeping the current lifestyle and making ends meet; achieving desired lifestyle; and achieving financial freedom. In contrast, older groups distinguish only two: keeping and achieving the lifestyle in the present and in the future. The second finding is that the definition of financial freedom differs across age groups. Young people aspire to become financially independent, while middle-aged individuals prioritize supporting their children, and older people are afraid of becoming a financial burden. Third, regardless of age, many do not plan, save or invest for securing their financial well-being. We conclude by proposing implications for increasing financial well-being in different age groups, and suggesting paths for further investigation.

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Section: Discussionsupporting

confidence: 64%

Section: Discussionmentioning

confidence: 99%

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From Security to Freedom— The Meaning of Financial Well-being Changes with Age

et al. 2023

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“…In that context, the global consumer culture can shift from prioritizing immediate gratification to promoting sustainable choices for well-being in the future. In addition, the rise of the FIRE (financial independence, retire early) movement promotes frugality, avoiding debt, and investing for the future (Taylor and Davies 2021).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Current and Future Financial Well-Being in 16 Countries

Riitsalu¹,

Raaij²

2022

Journal of International Marketing

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Financial well-being – the evaluation of current personal finances and expectations for the financial future – has gained attention in research, practice, and policy. Yet, there is no consensus on its conceptualisation nor its operationalisation. We contribute to this by proposing its conceptual framework and reassessing a measure in data for subjective financial well-being from 16 countries. Our findings highlight methodological concerns in international marketing studies and show not only financial well-being but also its measures to be context dependent. Furthermore, many studies use unidimensional financial well-being measures while some conceptualisations show it to have at least two components, current and future element. We analyse the effects of individual and contextual factors on current and future financial well-being, and explore their possible interaction. We observe income to be a significant predictor of both components of financial well-being, while institutional settings are correlated with current and national culture with future financial well-being. We conclude that initiatives aimed at increasing financial well-being need to clearly target either its current or future component as their antecedents differ.

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“…Though scholarly research on FIRE is in its nascent stages, studies have focused more on FIRE’s conceptual analysis (Grossan and Huffman, 2018; Helaine, 2019; Schulaka, 2019) or on analyzing FIRE experts and pioneers (Lapadat, 2020; Taylor and Davies, 2021). However, little empirical research has been conducted to understand the motivations and concerns of general FIRE practitioners.…”

Section: Introductionmentioning

confidence: 99%

Exploring fire for financial independence retire early (FIRE): a netnography approach

Khan

Pandey

2023

JCM

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Purpose Consumers’ lifestyle and financial decision-making affects their overall well-being. This paper aims to explore the factors that motivate consumers to pursue the goal of financial independence and retiring early (FIRE). Design/methodology/approach Qualitative netnography was used to analyze FIRE-related discussions by FIRE-specific online communities. The findings were triangulated using inputs from in-depth interviews with 13 financial advisors. Findings Using conservation of resources as a theoretical lens, two factors were found to be the primary motivators driving FIRE attitude and subsequent adoption of FIRE behavior – “escapism & freedom from the current workplace & life space” and “concern for physical & mental well-being.” Four factors were found to influence the adoption of FIRE attitude and behavior: “individual characteristics” [do-it-yourself (DIY) and proactive attitude, the capability of frugal living and ability to plan, track, and review], “well-paying job,” “support from spouse” and “resistance from social groups.” Research limitations/implications Due to the nature of netnography, demographic details of the sample cannot be completely ascertained. Practical implications The findings suggest marketing strategies primarily to wealth managers for: shifting to need-based segmentation of FIRE participants, modifying offerings to involve co-creation and low-touch products, innovating pricing models, increasing distribution reach through digitization and increasing sales and lead generation through engagement. Originality/value This is one of the first studies to explore the factors driving the adoption of FIRE by general FIRE consumers and presents a conceptual model.

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The financialization of anti-capitalism? The case of the ‘Financial Independence Retire Early’ community

Cited by 8 publications

References 33 publications

From Security to Freedom— The Meaning of Financial Well-being Changes with Age

From Security to Freedom— The Meaning of Financial Well-being Changes with Age

Current and Future Financial Well-Being in 16 Countries

Exploring fire for financial independence retire early (FIRE): a netnography approach

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