Starting Your Journey to Financial Independence (Movie Review)

Starting Your Journey to Financial Independence (Movie Review)

Kathrin Spinnler
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Kathrin Spinnler
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Reading 300-page books about financial independence isn’t for everyone. But fortunately, there are countless documentaries and short films out there that aim to help you manage your money more effectively.

They offer an easier way to get started and allow you to absorb the core principles of good money habits and financial independence in a shorter time period.

KEY TAKEAWAYS

  • We selected 3 short films. Playing with FIRE, The Minimalists – Less is Now and Early Retirement in One Lesson
  • After watching all three, people new to the financial independence concept will have a much better idea of what it is all about and how they can get started on this path.
  • First, start with Playing with FIRE. The film is informative and entertaining, mainly because it presents so many different voices and points of view. For people who have never examined their relationship with money and are looking for a different way of life, it could be a good starting point.
  • In the second film, The Minimalists, the concepts are applicable to a wide range of people from all socioeconomic backgrounds because, unless we have made a conscious effort to declutter, we all have too much stuff in our lives.
  • The last one, a 28-minute Youtube film is a talk by Pete Adeney, aka Mr. Money Mustache, at the 2016 World Domination Summit in Portland, Oregon. He shows three ways to make you rich.
Here is the full analysis

Watch First: Playing with FIRE

Playing with FIRE: The Documentary | Official Trailer | Available on Amazon and Google Play

explained by the founders of the fIRE Movement

The documentary Playing with FIRE, directed by Travis Shakespeare, follows the journey of Scott Rieckens, his wife Taylor, and his young daughter as they embark on their FI journey.

It includes advice from some of the biggest names in the financial independence community, including Pete Adeney (Mr. Money Mustache), JL Collins, JD Roth, Kristy Shen, and the Minimalists Joshua Fields Millburn and Ryan Nicodemus.

Because the family starts out as typical upper middle class consumers, this film is aimed at beginners who may not have heard of FI before.

It explores important concepts such as cutting down on your housing and transportation costs as well as being mindful about what you spend on food and shopping.

The section where JL Collins speaks about how to best invest in the stock market is an especially helpful starting point for people looking to avoid common investing mistakes.

WHAT DID I THINK?

When I found out about this movie’s premiere in early 2019, I was very excited because it’s the first of its kind. 

But while the information itself is helpful, the way Scott and Taylor approached FI seems counterintuitive.

They moved away from their high cost-of-living area in San Diego, CA, leaving behind Scott’s job as well as all their friends. 

To people who have never heard of FIRE, this might give the impression that you can’t pursue this lifestyle without giving up things that are important to you.

In fact, the opposite is true. The concept aims to improve your quality of life by minimizing mindless spending. 

Most proponents of FI still purchase the things that are important to them and only cut out those that don’t contribute to their happiness.

For the first few months of their journey, Scott and Taylor lived with their parents, first hers and then his. 

This also gives viewers a distorted view of the movement because most financially savvy people live in their own apartments, either renting or, more commonly, buying their home.

Despite these issues, the film is informative and entertaining, mainly because it presents so many different voices and points of view. 

For people who have never examined their relationship with money and are looking for a different way of life, it could be a good starting point. 

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Watch Second: The Minimalists - Less Is Now

The Minimalists: Less Is Now | Official Trailer | Available on Netflix

A Movie that ends with a personal challenge

“How might my life be better with less?” This is the central question in the Netflix documentary about “The Minimalists”.

Joshua Fields Millburn & Ryan Nicodemus have been spending more than a decade optimizing their own lifestyle and helping others to declutter and simplify. 

Therefore, they are in a great position to speak about this growing movement.

After the introduction, the film goes into detail about the backgrounds of the two entrepreneurs. They both grew up poor and in broken homes, but they went to college and got good jobs.

Because they were used to a scarcity mindset, they ended up accumulating a lot of luxury goods. They were “living the American dream”.

But when Joshua’s mother died and his marriage broke down, he decided he needed to do something differently. He found minimalism and discovered how much better his life was after he pared it down to the necessities.

Later on, he introduced his friend Ryan to the concept, and they were both able to escape from the corporate treadmill to live more meaningful lives.

The documentary touches on how the advertisements we see try to make us feel inadequate. Because we don’t have the same sense of community as our ancestors, the “stuff” we see on TV and billboards is taking the place of meaningful relationships.

Unless you define what “enough” is, there will always be a next sale and a next desire. By simplifying and keeping only what adds value to our lives, we create more time and energy for our fitness, health, and happiness.

At the end of the film, you are challenged to get started right now and partner up with a friend or family member for a month. 

On Day 1, each person will get rid of one thing in their house. On Day 2, two things. On Day 3, three things, and so on. 

By the end of the month, you and your accountability partner will have made a good start towards simplifying your life. 

WHAT DID I THINK?

After watching Playing with FIRE, you’ll need some ideas about how to cut down on your expenses. 

This documentary, with its easy-to-implement challenge at the end, offers a good way to get started. 

Once you start decluttering, you’ll also become more mindful about what new things you purchase and bring into your home, thus saving you time and money.

I really enjoyed the film and believe it is of great value to most people in our society. 

The concepts discussed are applicable to a wide range of people from all socioeconomic backgrounds because, unless we have made a conscious effort to declutter, we all have too much stuff in our lives.

We could all be more aware of how our purchases affect our finances, happiness, and sense of connection to others.

Although it isn’t addressed directly, it’s clear that buying less stuff also has a strong positive effect on the environment, which ties in with the message presented in our third movie, Early Retirement in One Lesson.

For me, a particularly poignant moment in this documentary was when Joshua explained how he went through his mother’s things. Instead of renting storage space and keeping everything, he took only a few tokens to remember her by, donating or selling the rest and giving the money to charity.

I think this idea that our memories are inside of us, not in our stuff, is crucial. When we can separate from our things, we feel lighter and freer. I am still working on this.

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Watch Last: Early Retirement in One Lesson

Early Retirement in One Lesson (How I Retired at 30) | Available on YouTube

Play Video

3 Facts that will make you rich

This 28-minute Youtube film is a talk by Pete Adeney, aka Mr. Money Mustache, at the 2016 World Domination Summit in Portland, Oregon. 

His speech ties together the two aspects, finance and lifestyle, and how they interact to shape your life.

From Day 1 of his popular blog, Pete has connected spending less and using fewer resources to both improving our own lives and preventing an ecological disaster. 

This shines through strongly in his speech.

He structures his talk into “three amazing facts that will make you rich”. The first one is that  almost everybody is bad at personal finance because we aren’t taught the basics.

We spend all our money and go into debt buying things that don’t make us happier. 

In fact, many of our luxuries detract from our contentment because they take away the challenge, freedom, and community that form the basis of human happiness. 

So, we need to keep working jobs we don’t enjoy for many decades to keep up with a life we don’t love.

Fact number two is that retiring only has to take 10 years if you know what you’re doing and are earning at least the median wage in your area. 

Simply save at least 50%, or ideally 65%, of your spending and invest the surplus. Most people can easily do this by cutting out things that don’t make them happy, such as a huge car, frequent takeout food, and a long commute.

The third and final part of the speech is about what to do after your early retirement. 

Many people argue that FI isn’t for them because they enjoy their job. But work is better when you don’t need the money from it because you can then do what’s important to you without worrying about earning. 

This is the point at which we can think more long-term and avoid making unethical decisions.   

WHAT DID I THINK?

Mr. Money Mustache’s blog is what got me interested in personal finance in the first place, and I really enjoy the way he explains the FI concepts. 

His speaking style is engaging, funny, and logical, so everyone can follow and stay motivated to keep listening throughout the video.

I think the speech is very similar to the content on his blog, and it reflects his desire to not just help people retire but to change the way we use our resources. The video is appropriate for anyone, from beginners to those well on their way to FI.

An Enjoyable Way to start your path towards Financial Independence

If you’re new to the financial independence principles and you’d like to spend an afternoon learning more, start by watching these three documentaries.

While Playing with FIRE introduces you to the core concepts, the Minimalists’ documentary gives you some ideas about how to approach decluttering.

Pete Adeney’s speech helps you understand the “why” behind the “how” and encourages you to take control of your life and give FI a go.

Thank you for reading.
Good Luck and Keep’em* Rolling!

(* Wheels & Dividends)

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