After twenty-two hours immersed in a tropical paradise, the money enthusiasts began to experience emotional moments. In November, around forty Americans and Australians gathered in the enchanting heart of Bali, Indonesia, at a luxurious resort adorned with banana trees and accompanied by the sounds of grazing sheep. This group was united by a shared commitment to the Financial Independence, Retire Early (FIRE) movement, which promises a pathway to financial freedom and the ability to retire on one’s own terms ahead of the conventional timeline.
On the retreat’s inaugural day, participants enjoyed refreshing coconut water while introducing themselves. The five-day retreat, costing $1,800, attracted attendees primarily from Big Tech, finance, and various small businesses, showcasing a blend of individuals earning five- and six-figure incomes. At just 22 years old, I stood out as the youngest participant, with others ranging from 35 to nearly 60, including those actively pursuing early retirement and others who had already stepped away from their careers years prior.
By the second day, attendees began to share personal stories about their journeys to the island. Much like any financial initiative, this retreat had its own set of caveats and nondisclosures. In smaller group discussions, we were encouraged to listen attentively without interruption or follow-up questioning. I made a commitment to refrain from sharing any details that could reveal the identities of specific individuals.
The retreat’s coordinator, Amy Minkley, who retired at the age of 44 and now resides in Bali, expressed her appreciation for the significance of long-live events, as opposed to quick monthly gatherings or virtual meetups. Minkley had struggled with financial concerns since her childhood, stemming from her parents’ divorce, and started working multiple jobs as a teenager to support her mother.
“I truly felt I found my tribe,” she reflected on attending her first retreat. “I was deeply moved by those who shared late-night conversations with me, guiding me through significant financial anxieties.” Over the following years, insights gained from new friends at these Bali retreats assisted her in managing the long-term care of her aging parents.
“People seldom open up that deeply until they’ve spent several days together,” Minkley noted, emphasizing the value of face-to-face discussions about finance. “There’s an invaluable aspect to engaging in real-life conversations about money.”
Escaping Judgment
Many outside the FIRE movement often view its members as frugal extremists. Early proponents, like the blogger Mr. Money Mustache, advocated for a minimalist lifestyle to maximize savings before quitting work upon reaching a specific financial goal.
“Over the years, there’s been a lot of judgment,” shared one participant who embarked on her FIRE journey in 2017. “Many people think it’s unfeasible.” One American attendee revealed that she ceased discussing personal finance with her friends, as they labeled the FIRE community as a ‘cult’, accusing her of self-denial.
“They struggle with the discipline required to save and invest, believing that early retirement is unattainable,” she remarked. “I still enjoy going out, traveling, and occasionally indulging in Starbucks. It’s challenging to convey that it’s not about deprivation — it’s about prioritizing your values and spending accordingly.”
During a dinner featuring a lively Balinese fire dance and flavorful Thai cuisine, two women, seasoned attendees of Financial Independence retreats, shared that their relatives often associated early retirement with laziness or a lack of ambition.
