Flexibility is the word being appeared more often in the FIRE journey. I believe that this is the way in which one will remain in FIRE lifestyle for a limitless amount of time as per one’s wish and desire. The constant is change. I note that one can apply flexibility in the expense in accordance of the invested portfolio. One will reduce the expense in times of crisis whereby the value of the investment portfolio is likely to remain low. This is the way in which one can sustain the expense with the possible reduction in the generated dividends from the investment portfolio.
By having the flexibility will enable one to reduce the expense whilst weathering the peril of economic downturn. It’s more appropriate to adopt the minimalist lifestyle with the purpose of stretching the dollar to the fullest possible extent. This is also a test who will gauge the resolve of one in making the expense reduction a reality.
I quote myself as an example. I can eliminate the need of patronising the expensive restaurant in favour of lower food price at the hawker centre for the lunch or dinner. There will not be the air-conditioning in the hawker centre. It’s alright for me as the main purpose of consuming the meals is to fill the stomach. It does not matter on the ambience of the dinning place which is the secondary consideration.