Financial Independence and Early Retirement probably sounds exciting to EVERYONE. FIRE (financial independence retire early) is a movement that is growing at an exponential rate. Why? Because people are changing. Our wants and even needs are changing. Early retirement and Financial independence are all about becoming debt free first. Without getting out of debt you will never have enough money to make the whole thing possible.
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Financial Independence Retire Early Explained – Using The FIRE Movement 💰
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Financial Independence Retire Early Explained – Using The FIRE Movement 💰
financial independence retire early
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I retired debt free at 51, right before the pandemic started. Cheers!
I only get a half hour lunch. I also work four 10 hour shifts.
Well explained! Thanks!
nice video! background song btw?
Financial Independence, Recreational Employment…nobody can survive for long doing nothing. Instead of a corporate job get to developing a non-job.
My husband and I are in our 50s and we started some retirement but we are far away from retiring. We are interested in figuring out how to increase our retirement and diversify our streams of income. Any advise.
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New to the fire movement, what is the best intro video you have?
Nothing you could buy feels as good as being debt free. Paying off debt becomes addictive.
Does anybody every talk about how to do it? And what you need to do and where you need to save?? It’s all just explaining early retirement
I don't think the FIRE thing makes sense. Well, let me say, some people say that they are on the FIRE program while going crazily into debt, traveling the world, living a wild luxurious lifestyle #travelblogger and doing zero investment, and defending the program and acting like jerks. Maybe that's what I have a problem with 🙂 lol Such as the credit card points thing and using that for travel, I just don't buy that. It cannot exclusively fund trips. It can, however, build debt like crazy. However, the people that are investing 50% plus of their income, and actively working toward the goal, now that is commendable.
Man, great video. Now I feel like maybe I should work constantly until I have enough to retire early. But I am so old I'll barely have enough to retire in my 60's as is. I wish I wouldve found out about this stuff 10 years ago.
6:43 I see what you are trying to do but I don’t exactly agree.
1) most jobs the 1hr lunch is included in the 8hr workday
2) people who are “financially independent” still have to take the time to eat lol
3) people who are “financially independent” should probably still be taking time to get ready for their day. Whatever that is.
What about medical insurance?
The FIRE movement is irresponsible bc it does not account for risk. Risk in the market and risk in your or your spouses health. In addition to children and aging parents. It’s the worst mistake you can make in your adult life.
How do i learn more about the FIRE movement please ?
Great energy man! Love the vids!!
I just turned 30 and have a plan to be financially independent by 40 and it has me super psyched. 😄
Very interested in the f.i. side and not so much on the r.e. side. This is just a good idea. Who doesn't want the ability to be able to take time off from work and not have to worry about how they are going to pay their bills. With the f.i. side, anyone who is f.i. will be able to take the time off and still be able to enjoy their time off from work.
Great video! I am motivated by this movement. I just spoke to my financial planner and he told me that I could retire by 55. I just recieved an over 25% raise. I want to retire from the rat race and to do something Im most passionate about. I will sacrifice to get to my end goal.
Don't just think of the monetarial aspect of early retirement. Develop a few cheap hobbies or passions to occupy your time, both now & in retirement. Having a lot of spare time with limited resources can be a real drag if you don't consider meaningful fulfillment.
The Fire movement isn't some new, radical concept. I took the exact same steps starting in the 80's nd retired comfortably at 42. What is the big deal? Isn't it just common sense?
Whether FIRE is appealing to you now depends on whether you love your job now or not. Think about it…
I'm over 40 and on FIRE with my partner, aiming for it in the next 10 years. It's a challenge for us but not a struggle, we will achieve our target. FIRE for those younger than us unfortunately is a MASSIVE challenge but not impossible.
FIRE with a long term partner and someone you love is the best move. Much easier to achieve FIRE in a sound partnership.
My FIRE partner is a babe. Love to her.
Work to be debt free from major financial investments such as mortgages is key.
I'm not sure I qualify to be considered a Member of the Fire Movement.
My first day of Retirement was May 31, 2014, ~three months before turning 56. Some might consider me to be too old for "Membership."
The most debt I ever had occurred in 1988. I bought a house for $86,000 and put $66,000 down. But since my mortgage payment was less than my rent had been, I had a plan (including an interactive amortization schedule on Excel) to pay off my $20,000 mortgage in four years. Then, my Grandmother passed and I "blew my inheritance," the result being that I became mortgage-free two years after buying the house.
I have always paid my credit card balances in full every month. Some Financial Advisors would consider that to be debt, others don't. They can think what they want. I don't care.
Regrets? Two…
In 1988, I had my hand on the phone to buy 20 shares of Berkshire Hathaway stock when it was "only" $3,000/share. Had I done that instead of buying the previously mentioned house, I could have retired at 45 instead of 55.
With the benefit of 20/20 hindsight, I now realize I should have retired 13 months before I did, at the end of April 2013. It would have been a TERRIBLE time for me to leave. In fact, it is highly likely that my Jerk Boss would have had a second…and possibly fatal…heart attack had I bailed out at that time, especially if I only gave him two weeks notice. Had he had "The Big One," I would have brought a 12 pack of beer to his grave and had my own special Tribute/Ceremony LOL
I absolutely APPLAUD all who join the FIER Movement. I realized LONG ago that today's consumption-oriented Madison-Avenue-driven lifestyle leads one to fiscal bondage, something I NEVER wanted any part of.
Great job, Sir. Thank you for getting the Word out and encouraging people (especially young people) to follow a different path, one that is CERTAIN to lead them to a happier Life.
All Best, Sir!
Ive been FIRE for 3 years and its the most amazing liberating life ever.
FIRE is simple. just decide what you are willing to give up. Finance the rest through investment.
What's the brand of your T-shirt???
Sure early retirement sounds great but nobody talks about health insurance. Here in the USA you don`t qualify for Medicare until age 65 and buying it on your own is very expensive.
Thanks for putting in all the extra hours for preparing for work and recovering from work! It's soooo true!
The FI/RE movement is one that I'm apart of. Working hard now so that one day I can choose when and what to work on. Great video, Jarrad!
I found the FIRE movement when Mr. Money Mustache was a keynote at a conference I was at!
Jarad, you are a very attractive good looking and intelligent young man. But please, abbreviate a little bit. Come to the point quicker. I don't have the time to listen to bunches of pre-speeches. Sorry, no offence meant. I like you a lot. Thank you!
Damn man your a good dude
'Tony Robbins – Money Master the Game' really helps
FIRE, FIER, FLYER, FREQUENT FLYER, BAHAMAS BROKE!
Well done. Cost of work goes further if you have a wardrobe that is work specific etc. Pretty incredible when you think about it.
Step 1) Save 1 Million Dollars and quit your job.
Step 2) Invest in safe bonds that pay 2.5%.
Step 3) Earn $25,000 per year in interest income.
Step 4) Get your old job back because $25,000 isn't enough to live on.
Fire people will catch fire during any stock volatile period.
I'm feeling smarter and smarter about never attending college.
who doin' dis?
Ok, I just watched the entire video and am still waiting for an explanation of how to retire early?
I don’t love my job. I love the financial security. Hopes and dreams don’t fund retirements and pay bills. Money does. Until such time as my portfolio income can fund my cost of living I will work as much as I have to in order to up my savings. Compound interest is much more significant if your grub steak is significant. 500% return on $10K is great. But 500% on $200K is life changing.
My only disagreement is that I think people should start saving for retirement even with debt. Debt is a mindset and Paying it off usually only is a means to get back into it. #sadtruth