Welcome to the Family Finances for FIRE blog, where we chronicle our family’s adventures toward financial independence while living in one of the most expensive parts of the United States – the Washington, D.C. metro area.
My name is Franklin (41) and I, along with my wife Felicity (40), head up the Fox family household. We have three awesome children – Fiona (15), Finn (12), and Flora (10).
Felicity and I both grew up in the Washington, D.C. suburbs and we’ve chosen to raise our children in this area as well. We love the diversity of people and activities, the opportunities for work and play, and the great schools that the area offers.
I work in the private sector (that is, I don’t work for or with the government) and I love to coach my children’s sports teams. My wife runs the show at home and cares for our three children. She’s a magnificent cook and gardener, and also enjoys being a substitute teacher when her busy schedule permits it. All three of our children are active with school, music, and sports activities.
So why am I writing this blog?
First and foremost, I’m writing to help my children live a fulfilling life and avoid some of the pitfalls that I and many others have experienced. I want them to know that material things will not make them happy. However, using money to increase their freedom to pursue meaningful activities will. They are not at an age to fully understand or follow my advice, but there’s a better chance that they’ll follow what I write while in my 40s than what I say while in my 60s. Is there a financial benefit as well? Let’s just say that if my three children adhere to at least some of the things I write in this blog, collectively they’ll be able to earn and save millions of dollars.
Second, I’m writing to show that it’s possible for a family of our size to achieve financial independence and retire early (FIRE) while living in a high cost area such as Washington, D.C. I have benefited from the examples of many other FIRE bloggers who have shared their stories. However, many FIRE bloggers are in different circumstances than the Fox family. Some are single, some have none or only one child, others have dual incomes from full-time work, and many live in less-expensive areas of the country. I know first-hand that it’s difficult to keep up the momentum necessary to achieve FIRE so I’d like to share our family focused experiences in hopes that others in similar circumstances will benefit.
Third, I’m writing with a hope that many of the outstanding and capable people I interact with everyday will break from the behaviors that tie them to their jobs so that they might focus on more meaningful endeavors. I know many great people with tremendous capacity to lift up our society through acts both great and small. I believe that the opportunity of financial independence will allow us all to fully utilize that capacity for good.
Again, welcome to the Family Finances for FIRE blog. I hope our stories and thoughts on achieving financial independence help in your journey to true freedom and fulfillment.
Last updated in October of 2017.