Is the F.I.R.E. Movement UNREALISTIC?

[@PlayingwithFIREco]

Speaking from the experience, we can assure you FIRE is NOT unrealistic :)

[@frugalityandfreedom3943]

YES! It's a "choose your own adventure" and you can do it at your own pace, with your own priorities and values. It's all about intentionality.

[@yasminbarry7941]

FINALLY! I've found an answer to the question I typed in my browser. To the millions of FIRE enthusiasts online, this is just a question, so please don't shoot the messenger! My aunt retired after a 30-year career in a really good job, with a fantastic international organization. Her pension is enviable, she still has a health and life insurace .....and that pension gets adjusted yearly (normally), based on the cost of living.......If you retire at 35-40 with enough money to be able to draw, say ...... $50.000 a year.....I mean ..... someone explain this to me, please: HOW do you live for another 40 or 50 years with so little money, not adjusted to the cost of living???????

[@yasminbarry7941]

Financial Independence, on the other hand, sounds fabulous from where I am, because (to me at least), financial independence, gives you an option to work at your own projects for as long as you want to after retiring early. But retiring early and depending on money earned over a short period of time to keep on living comfortably for another 40 or 50 years? Frankly .... I don't see how.

[@wisulliv]

It is unrealistic to be assured fire can be achieved by everyone.

[@hermannweber2441]

I'm 45, retired with a networth of over $1 million. I'm currently traveling the world with my partner. I've loved the FIRE movement, planned for it and I did it! You can do it too!

[@robertclark1398]

This is so inspiring, I'm happy I came across this comment. How did you achieve this? Please can you share tips that helped you ?

[@hermannweber2441]

@@tylergnosis2581 you're welcome, inspiration makes you stronger.. just believe in yourself and work smarter, you gonna make it happen!! Mark it somewhere, you will be successful as long as you do your very best.

[@hermannweber2441]

@@robertclark1398 Focus on the main goal which is making it big, be frugal... Avoid unnecessary spendings (don't buy what you don't need), save and invest, it's a proven way to make it. That's why they say "save to invest ..you are saving a day off work" . With these few tips I'm sure you will get to FI if you follow them religiously.

[@robertclark1398]

Wow!!!!! Thanks so much John, you really made an impact in me. These tips will help me go a long way, the part you talked about jnvestmnent, I have a good amount of savings but I've really been confused on the best investment plan, any suggestions?

[@ameliapeters2447]

I wouldn't have asked for a better Advice/motivation. Thanks so much John, you are a gem✨

[@walkerb1734]

I’m 52 and know this to be true. From the time I was 18 I always wanted to achieve the FIRE lifestyle. Even before it was called such a thing. I focused on education and continually developing marketable, non-outsource-able skills....paid off my house by the age of 40....maxed out contributions to retirement plans...avoided ‘keeping up with the Joneses’....and avoided debt and ‘stupid spending’. Today, I’m worth $5m and only work because I WANT to! It CAN be done!

[@SurpriseMeJT]

How many children do you have?

[@walkerb1734]

@@SurpriseMeJT 2 kids. 22 and 18.

[@vanguardvaluist2614]

@@walkerb1734 Well done sir! Previous commenter might have been trolling you for the no kids excuse of why you were successful. Not to say the kiddos aren't expensive but if you have a family from a position of strength, don't drop a new "i gadget" on them every other week, learn & implement solid financial habits that are combined with work things have a better chance of working out.

[@walkerb1734]

@@vanguardvaluist2614 Absolutely agree! Interestingly enough, my kids are following in my footsteps. They understand the value of delayed gratification over immediate consumption, the value behind hard work, goal setting, and investing for the long term. They say kids will mimic what the parent does....if you smoke, they will likely smoke. If you demonstrate faulty character traits, they likely will be the same. Seeing my kids succeed with money makes me proud. Honestly, my biggest accomplishment in life. So....are kids expensive? Sure! But they don’t have to be a barrier to financial success.

[@AFulfilledLife]

That's amazing to hear. Congrats sir, you've made it! And congrats with the kids as well, you've raised them well. This is the type of parenting we need. If proper financial education aren't taught in school, atleast parents should. 👏🏼

[@theMissiHippieGypsies]

we retired at 42 yrs old... its kind of like a combination of things, minimalism, essentialism, etc.... (you get it) but once the ball is rolling, it rolls real easy!!

[@PlayingwithFIREco]

👏🔥

[@zoe440]

Yes! Love that! Once it rolls, it rolls easy.

[@OnCashFlow]

I really think FI is pretty easy once you have the education. One problem is that there's a lot of money to be made in making finances more complicated than it needs to be.

[@MoementumFinance]

Get educated, open your horizon and see the possibilities. With education, discipline, vision and hard work, FIRR is absolutely possible.

[@PlayingwithFIREco]

🔥

[@brandonharper7171]

I love this simple and clear breakdown! Everybody can reach FI no matter the starting situation. The math isn’t overly complicated, just takes a plan and dedication

[@PlayingwithFIREco]

Simple and clear can be so powerful. 🔥

[@rhyspowell9426]

People are too ingrained in consumerism. People will want to retire early and might even increase their contributions to a pension pot but at the same time want, a giant house, a new car, the latest clothes/iphone/game system etc. Just get to a place where you have enough and stop. I cant remember the last time I bought new clothes. I'm buying a house 5 years earlier than the average age for my country. I drive a second hand car and aim to keep it for the next 5-10 years. If people look at me and think cheapskate it doesnt bother me because I will be looking at them and adding up all the money they are wasting to try and impress me.

[@Dollsteak69]

Yup! I honestly can't figure out what people do with their money.

[@hallpaintandbody7717]

Love this video! ❤ I've tried to get people to invest. I've done all the research to see it! I will get to FIRE!!! I love my dividends!

[@xrunner55]

My favorite critique of the F.I.R.E. movement is from a boomer "You shouldn't do it, companies need mid level professionals." Like I give a F, I am loyal to companies as they are to me. Suzy Orman at least made a valid point of probably burning through the savings if not invested.

[@PlayingwithFIREco]

😹

[@ordinaryhuman5645]

Eh, I'm as promoted as I'll get without going into management. Not too interested in that, or doing the same thing for the next 30+ years.

[@katiehaworth1016]

Of everyone in the film she was one of the people I would love to read about her journey and have a conversation with.

[@PlayingwithFIREco]

She’s wonderful. I hope you get the chance!

[@vanguardvaluist2614]

The 2 thumbs down were from people afraid to hit the like button.

[@PlayingwithFIREco]

😂 people, STOP living in fear! Like button for life!

[@sophiedubois1419]

Generalization is always a faux pas in my view and regardless of where each stands, I would encourage openness for all. I would like to see the FIRE mouvement being a way of acquiring knowledge, not a mouvement. FI being the new norm while considering the “old ways” and take the greatness in all approches, thinking, application, ... It is about bringing back the basics: values, goals, dreams that are authentic to each and not driving by societal expectations that are just obsolete in many areas. I think that some see FI unrealistic because it can be presented as an extreme. Balance. Balance. Balance is they key. My 2 cents worth this morning before coffee time!

[@PlayingwithFIREco]

LOVE this, and TOTALLY agree.

[@craigstone1684]

This seems great as someone who dreads the day job and would love to create financial freedom at least to allow me to find my passion and not worry about money as such. Where or how do people start the FIRE movement? I am based in the UK, I appreciate that this will be on different timescales for different people and situations but interested to see how long this has taken people. I know a lot of the world is in it for commission, money rather than actually helping people.

[@PlayingwithFIREco]

You start by defining your goals and taking action. Check out our site for step by step guides. Buy the book "The Simple Path to Wealth" by JL Collins. Check out the MadFIentist podcast. There are plenty of UK Fire bloggers as well. moneygrower.co.uk/fire-blogs-uk-financial-independence-retire-early/ In the FIRE world, we aren't really in it for the commission, the commissions just help pay the bills. You'll find lots of help, as long as you work toward your goals.

[@abhaybrijwal6713]

In which streaming platform PLAYING WITH FIRE documentary can be watched ?

[@pjgallant]

Available on most paid streaming platforms, including Apple. Absolutely worth watching! I saw it for the first time at a Camp Mustache, which was great because some of the people profiled were sitting with me in the audience!

[@PlayingwithFIREco]

🤓👏🤓

[@Arun71150]

Amazon

[@MrStretch]

If our government was limited to the basic functions empowered by the Constitution they wouldn't need to take so much of your compensations for your talents. You would be able to reach your goals so much faster.

[@dobattlers]

Its not a lack of trust or systems or government lol. People are just not educated on the possibilities or they don’t believe something like FI is achievable because they’ve never seen it in their life, thus perpetuating the cycle. Then even if they believe it’s possible and real, they have to be motivated and disciplined enough to follow through, which most people aren’t. It’s that simple.

[@HiddenFreedom]

Gotta love the naysayers and people who throw the baby out with the bath water.

[@chrislanejones]

I like FI, but not RE. I love working to death. Screw being on an island 🏝️.

[@gk77ful]

after you are in FI, come work for me for free

[@chrislanejones]

@@gk77ful I am from Florida, but I moved. The FI stands for financially independent not Florida.

[@Bacciagalupe]

: )

[@Dollsteak69]

Hit semi retirement at 31. 13 years of hardcore OT and hardcore saving. I still work for structure, entertainment. Most are intimidated by the sacrifice that is required. I tell the kids at 18 or 22 that your a nobody in our society until you pack away 45k in investments and a dependable paid for vehicle, then you can stop and come up for air (time). Look at the landscape ($$$) and dive in till you hit 250. Repeat until your where you need to be. Feel the pain of discipline early or feel the pain of regret later. Be well everyone! Anyone can do this.

[@Arun71150]

🔥🔥🔥

[@DaveM-FFB]

The path to FI begins with acquiring financial literacy. Make sensible plans (and habits) to implement on autopilot. Then watch "the magic" happen over the next 15+ years. You'll have lifestyle choices you never imagined.

[@angelikalaser7778]

So true. The 20-30 years will pass anyways. Even if the re is not possible the fi will arrive eventually.

[@InOrlando]

It is simple but def NOT easy and def not accessible to all income levels. Also, there is a big TIME component tied to income level to achieve FIRE. Sure it CAN be done, but ignoring what it takes is on the privileged side.

[@SK-qj3oj]

29 and with 200k, I omw to FIRE in 10years 🔥🔥🔥

[@clownanaround7996]

1yr into fire and I’m at 24k couple more years and portfolio will do most of the heavy lifting...

[@travis1240]

IMO one thing that turns people off to FIRE is the people that save $500k as a young married couple, then declare themselves "retired", then say that they plan to have kids. That's just not realistic at all. Having kids doesn't just change your lifestyle. It completely resets your values and life expectations. Retiring at 45-50 with a few million in the bank is far more realistic, especially if you have other income streams. Anyway, what I love about the FIRE movement is the FI part. The RE part is a bonus, and often means "Recreational Employment" instead of "Retire Early".

[@overnightgrowth]

I agree I pursue financial independence not to retire but to put myself in the position where I don't 'need' the money from my day job. When you're in that position you're much more free to choose meaningful work, work becomes better when you don't need the money it pays you.

[@bunnie1294]

You make it sound like a young married couple with 500k in savings is a common occurrence. Most young people are not marrying at all these days, have tons of student loans, and barely starting their careers. I've never met a single young couple with 500k claiming that they are retired.

[@truthteller6743]

I reached it at 46. Bought a triplex and purchased a home. Real estate prices just shot up. I sold my home and paid the mortgage on both properties. Now live in my triplex, and now have the freedom to do what I want. Homeschooling my children myself. You got to find your own way.

[@PlayingwithFIREco]

🔥

[@artybeanLLC]

I think the FIRE movement is possible and realistic!

[@Simon-je7ko]

There not much more to say here. Everything was said. She really said it all about FIRE. I think that if you do not like your salary. You just need to create one by investing. I want to retire and have plenty of money. But I also want to live now. I invest because my money is not enough. Stop waiting for someone to save you. Do something. Make a change. If you think that your boss is going to save you. Well there is really something wrong with your fuse box panel.

[@AFulfilledLife]

This is true in so many level. A lot of people are afraid to start their journey towards financial independence because they're not willing to get out of their comfort zones. They do think that by doing this, it's fun time no more. But pursuing financial independence doesn't have to be that hard. Would you be interested in knowing how, without having to cut the fun out of your life? If you say YES, I've made a video about this and you're free to watch. 😊

[@craigcarter400]

I think when my kids finish HS in 2023 and I sell my home in the PNW and move to OH, I can essentially retire and work whenever I want with a paid off home at 39 1/2

[@WyattChristman]

Why OH?

[@craigcarter400]

@@WyattChristman Wife’s favorite place she has lived. I liked it as well when I was there in 2016.

[@WyattChristman]

@@craigcarter400 That's where the Airstream is made so that's pretty cool!

[@b__w_4565]

@@WyattChristman its also very affordable! (I'm from Ohio lol)

[@kenyonbissett3512]

To any company’s take your best years and lay you off just before retirement to avoid paying it. Or the company goes bankrupt leaving you in a now dying town. Jobs are sent overseas. It hard for a 50yr+ person to find an equivalent job after a layoff. Then the company hires 2 people to replace you splitting your pay in 1/2 to pay them.

[@buildfixflip]

Love that she said so many people hear the word spreadsheet and run. The math can be so scary to some but we are so excited to be headed toward financial independence and it is achievable! We are excited to be inchinc closer each day!

[@karenwallace5855]

I can vouch for that it is very doable for even the average wage earner as I managed to accomplish FI in 20 years time on an average salary of about $ 30K. I was not able to invest in 6 of those 20 and in only some of those years was my savings rate over 25%. Been trying to get the word out on how very realistic it is. Even I was amazed that this is so. To me, the biggest keys are savings rate, return rate, time and lowering expenses. The less you need to live on, the less you need to become FI, to become free. Nice video, ty.

[@adityakothari2350]

Very well said 👍👍👍 Sharing it further in my network 🙂

[@cjv512vasquez]

It is unfortunate that you have this view on advisors. Not all advisors sell products or collect commissions...

[@PlayingwithFIREco]

But too many do… too.

[@cjv512vasquez]

@@PlayingwithFIREco yes some do sell products and some get paid on commissions. But not ALL advisors do. I would argue advisors that serve as true fiduciaries play a critical role in the lives of clients by helping them avoid making huge emotional mistakes.

[@PlayingwithFIREco]

No one is arguing against the benefits of a true fiduciary.

[@cjv512vasquez]

@@PlayingwithFIREco just be mindful of making blanket statements towards advisors. The FIRE movement has a good thing going and not saying they need an advisor but for those out there that choose not to go down the same path of FIRE then maybe working with a Fiduciary Advisor makes sense for them...

[@noellehilgesen612]

Thanks

[@PlayingwithFIREco]

My pleasure!

[@usamat3297]

There is FIRE and there is FI. Both are financial milestones to retirement where you live off your accumulated assets, with a major difference. FIRE is a type of retirement that assumes when you die, you net worth will hopefully still be positive, but almost depleted from when you FIREd. FI is retiring when your accumulated assets spin off sufficient income for you to live on without touching any principle. When an FI retiree dies, their net worth is likely to be higher than when they entered FI retirement.

[@PlayingwithFIREco]

🧐

[@P.I.P.E.L.I.N.E_Podcast]

Notification squad!

[@PlayingwithFIREco]

🔥👏

[@RyanPedersen]

Almost all of your links in the description are dead.

[@PlayingwithFIREco]

Thanks for letting me know! I believe I've fixed them all... and now I'm going to go nurse my carpal tunnel...

[@KikiAndJeffreyPearl]

It’s just living below your means. Spend less than you make everyday and that’s all it takes. The extra $ that goes on the pile, invest it in safe and income earning equities and Real Estate

[@PlayingwithFIREco]

Just because it’s simple, doesn’t always make it easy. But keeping the message alive is so valuable amongst all the marketing noise and bad investment takes.

[@Anonymous-ld7je]

"Beginning is easy. Continuing is hard." For naturally frugal people that dread spending money, like me, even though reaching FI takes a long time, that actions that lead me to it are relatively simple. It's in my nature after all... for people that aren't that way (which is probably most), I imagine staying on course for the 10-20 years financial independence will take is very difficult. I think a good way to look at is that the years will pass anyways... where do you want to be in 20 years? Still working 9-5 (or worse) and worrying about debt, or living off the passive income you worked hard to invest and build? I know my answer.

[@sgist7824]

Income plays a big part . Living below your income could be just saving $5 a month, it won't be enough.

[@a.m.doesit9347]

beans and rice

[@PlayingwithFIREco]

😉

[@AkweliParker]

You’re thinking of lean FIRE. With fat FIRE a beans and rice lifestyle isn’t necessary. You just need to accumulate a bigger portfolio before making the jump. It’s all simple math!

[@MyLifeThai371]

Love Dave Ramsey's book "The total money make over!" and love how "Quit like a millionaire" by Kristy Shen picks up where Dave Ramsey leaves off.