Book Review: Playing with FIRE by Scott Rieckens

The FIRE (Financial Independence, Retire Early) movement has gained momentum in recent years as more people seek financial freedom and an escape from the traditional 9-to-5.

Playing with FIRE by Scott Rieckens is both a memoir and a guide to the FIRE lifestyle, detailing his journey from financial complacency to intentionality. Through real-life experiences, the book provides readers with actionable steps to reduce expenses, increase savings, and work toward financial independence.

Who is Scott Rieckens?

Scott Rieckens is an entrepreneur, creative director, and documentary filmmaker. Before discovering FIRE, he and his family lived a typical upper-middle-class lifestyle, spending heavily without much thought about long-term financial security.

After stumbling upon the FIRE movement, particularly through blogs like Mr. Money Mustache, Rieckens made a drastic shift in his financial mindset and chronicled his transformation in both this book and an accompanying documentary.

The Foreword by Mr. Money Mustache

One of the book’s standout features is its foreword by Mr. Money Mustache (MMM), one of the most well-known figures in the FIRE community. MMM is famous for his no-nonsense approach to frugality, investing, and living a purposeful life. His endorsement gives credibility to Rieckens’ story and reinforces the fundamental principles of the FIRE movement: aggressive saving, frugal living, and investing in low-cost index funds like the S&P 500.

Lessons from Playing with FIRE

Playing with FIRE is packed with valuable personal finance lessons, many of which align with the principles we advocate for:

• Frugality is a superpower. Playing with FIRE emphasizes cutting unnecessary expenses and focusing on what truly brings happiness, rather than mindless spending.
• Track and optimize your spending. Rieckens and his wife meticulously analyzed their finances and cut out wasteful expenses, redirecting savings toward financial independence.
• Invest in low-cost index funds. Instead of trying to beat the market, Rieckens follows the wisdom of investing in the S&P 500 for long-term, reliable growth.
• Financial independence gives you freedom. The goal isn’t necessarily early retirement but rather having the financial security to choose how you spend your time.

Criticisms of Playing with FIRE

While Playing with FIRE is an inspiring read, it has received some criticism:

• Privileged starting point. Some readers argue that Rieckens and his family were already in a comfortable financial position, making their transition to FIRE easier than it would be for someone starting with debt or a lower income.
• Lack of depth in financial strategies. Compared to books like The Simple Path to Wealth by JL Collins, Playing with FIRE is more narrative-driven and less focused on deep financial concepts.
• Not as actionable for all readers. While Playing with FIRE provides motivation, some readers may feel it lacks specific, detailed steps on how to implement FIRE principles in different financial situations.

Final Thoughts

Playing with FIRE is an engaging and inspiring introduction to the FIRE movement, especially for those new to the concept. While it may not be the most technical or comprehensive financial guide, it effectively illustrates the benefits of intentional spending, financial independence, and breaking free from the paycheck-to-paycheck lifestyle.

If you’re looking for motivation to start your own FIRE journey, this book is a great place to start. However, pairing it with more technical financial books (like The Simple Path to Wealth) can provide a deeper understanding of how to achieve financial independence effectively.

We believe in the core principles of FIRE: frugality, smart investing, and financial independence. Whether you’re just starting your journey or looking for new strategies to optimize your finances, Playing with FIRE offers an inspiring look at what’s possible when you take control of your money.