Lean FIRE is simply a retirement focused on a more frugal lifestyle. That’s what Mrs. FIcology (Mrs. FI if you’re into the whole brevity thing) and I are doing. See 022 | What is FI / FIRE and the Different Types of FIRE? for more info on the different types of FIRE. Despite this, we pulled off a third meaningful vacation this year amidst my money anxiety and budget concerns. I’ll share how, including the numbers. But first, the “twist” we didn’t expect.
Well Played, Universe, Well Played
While Mrs. FIcology and I were planning our third vacation this year, scarcity-minded me started panicking over the budget. Can a vacation be financially lean, but still be meaningful? Yes, it can. Our choice: eight days in Keystone, CO. And as we drove into town, one of the first things we noticed was the sign above, “FIRE DANGER TODAY – EXTREME”. Yikes!!! My first thoughts were “our vacation’s ruined” and “we might die in a fire”. But that changed.
It later dawned on me that this may be the sign (pun intended) I needed to stop worrying about money and instead to relax and enjoy our time. You see, a simple re-frame (another sign pun, lol – sorry) reveals a completely different message. An extreme chance of “F.I.R.E.” (vs. “fire”)?!?! That’s a bet I’ll take any day! Was this a message from above? One of those “God winks” that if you blink you miss it? Or just proof that the universe has a sense of humor? Whatever it was – well played, universe, well played.
A Quick Background
Before I let the universe take too much credit, let me tell you how we got here.
If you’ve read some earlier blog posts, like 017 | The Decision to FIRE, you know that I pulled the retirement trigger a little earlier than ideal. That means valuing things like time freedom over luxury and experiences over possessions. I won’t lie – it’s been challenging not having an income and the freedom to spend money worry-free. Check out 018 | Life After FI: Six Months In – Happier, Anxious, and Still Figuring It Out for more on that.
Nonetheless, Mrs. FI and I have remained committed to using our time wisely. This is our third vacation this year. (In the past, we’ve only taken one per year.) In addition, we wanted to add extra time instead of doing the traditional seven-day vacation. As mentioned above, my money anxiety flared up while planning. We had conflicting goals of taking a meaningful, and longer, vacation while staying financially lean.
The Place: Keystone, CO
It’s July in the Midwest, which means it’s hot and humid. For about 8 weeks, it’ll be mostly unpleasant. Five minutes outside at any time of day means you’re drenched in sweat and the shower you just took is now null and void. The Rocky Mountains in Colorado are cool (Fahrenheit degrees in the 60s and 70s) every day during this time. This may be the single largest factor affecting our decision.
We decided on Keystone, Colorado which is a busy skiing mecca in the winter. But it’s a laid-back, calm, non-crowded, central location for great hiking in the summer. Because summer is their off-season and because it’s a little smaller and isolated than other locations like Breckenridge and Estes Park, decent lodging with a full kitchen can be found quite affordably. The full kitchen lets us stock up on groceries to avoid eating out every meal. That’s a convenience and a significant cost savings. We still dined out once a day for evening dinner and a lunch or two.
The Attraction: Hiking
You know from our tagline and About page that FIcology consists of Financial Independence + Psychology. That includes pursuing happiness and contentment on this journey. I’m an avid self-help reader, and one of the most consistently cited tactics to improve mental health is to get out in nature. It’s not just a suggestion, it’s a requirement. We’re just not wired to live indoors, under artificial light, staring at screens all day. If you’re feeling depressed, anxious, or any negative emotion, give it a try; it’s an instant mood fix.
There’s no better way to get outside and into nature than hiking in the mountains. Keystone and the surrounding areas have some of the most beautiful hikes you’ll find. The variety of trails is also nearly endless. You can find trails that have peaks above 14,000 feet (14ers), lush woods, crystal clear mountain lakes, wildflowers, waterfalls, old mining towns, glaciers, mountain goats, and much more. Talk about a mood-lifter — here’s just one of the amazing views from our hikes:
From a cost perspective, you can’t beat hiking. It’s free! There are very few that require paid parking or a shuttle due to limited space at the trailhead. But we didn’t encounter any of those. The internet is full of information and reviews on the various trails, so you can pick trails that meet your own requirements.
Finally: The Numbers
Here’s the information you want to know, right? People often cite their cost of vacation as just “flight + hotel”. That’s fine, I guess, for non-FIRE people. But we in the FIRE community tend to be more detailed, cautious, and accurate when it comes to total costs. So, I’ve gone into great detail to include every single expense related to this trip.
We managed to spend eight days on vacation (nine, including travel) for a grand total cost of $2,269.25. And I’m not exaggerating, that is every single cent spent during our nine-day outing.
Here’s how it broke down:
| Expense | Amount |
|---|---|
| Lodging – 8 nights 2bd/2ba condo w/kitchen (taxes & fees included) | $791.38 |
| Pet boarding | $495.00 |
| Dining Out (tips included) | $372.75 |
| Groceries | $289.44 |
| Gas (drove vs flying) | $230.34 |
| Miscellaneous – gifts / souvenirs | $90.34 |
| Total | $2,269.25 |
Like anything, there are gray areas on what to include. A couple of items seem worth mentioning here.
- Groceries – we would have had a similar grocery bill at home (probably higher). So, it’s questionable to include groceries at all in the cost of vacation.
- Automobile – I included gasoline costs, but I did NOT include an allowance for automotive wear & tear / depreciation. We put about 2,000 miles on Mrs. FI’s car and that is a difficult-to-determine, but real cost that isn’t accounted for here.
One interesting fact to call out here: our 2nd highest expense was pet boarding. Our two FI Min Pins would be way too much trouble to take with us, so that’s not even an option. Pet care is a real, often-overlooked line in vacation math. Don’t forget to factor this in if you have furry friends too.
All things considered, I think we did great for an 8-day vacation that Mrs. FI and I walked away from feeling closer to each other, totally satisfied with our experience, and physically strong (and exhausted) from the hiking.
Lean FI Vacation Tips
Here are some reusable tips for planning a cost-effective vacation that were helpful to us here.
- Free Activities – there are lots of great activities that are free. We did mostly hiking, but we also attended an art festival and a wine & jazz festival. Our condo had an outdoor pool and hot tubs, which were amazing after long hikes! There were also free concerts and a free live Raptor demonstration that we opted out of.
- Physical Activities – related to the above bullet, activities that require physical effort, like hiking, often weed out 95+% of the population. So, they’re usually cheap/free and not crowded.
- Off Season – go somewhere everyone else isn’t. The fact that Keystone is largely a winter skiing attraction allowed us to book extremely affordable lodging during the summer.
- Lodging w/Kitchen – we always try to get a place with a kitchen. We don’t always succeed, but being able to stock a refrigerator with groceries and do some dishes is a huge time- and money-saver.
- Groceries vs Dining Out – related to the above bullet, dining out is a huge cost. Even with our very limited dining out, it was still our third largest expense. Plus, meals eaten out tend to be rich, calorie-laden foods that leave you feeling unsatisfied and bloated. Having some healthy but simple groceries like grapes, bananas, apples, yogurt, granola bars, lunchmeat, cereal, etc. can really improve your physical & mental experience.
- Drive vs. Fly – this isn’t always possible, but we always evaluate it. This trip would’ve cost us a minimum of $1,000 for roundtrip airfare, car rental, and airport parking. Use the drive time to listen to some podcasts and power up your FIRE skills!
Wrap Up
Thank you for reading. Hope you found this helpful and enjoyable. This site and blog are a labor of love for the community that has helped us so much. All posts are 100% written by me, the Professor, and never by AI. (AI does help with image generation occasionally.) If you like this post, or any post, please follow us on Facebook. Also, check out our FIRE Calculator.
I appreciate you, FI friend! See you next time.