The Truth About FIRE - Is Early Retirement Actually Possible?

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The Plain Bagel

The Plain Bagel

Күн бұрын

Пікірлер: 2 800
@ThePlainBagel
@ThePlainBagel 3 жыл бұрын
Happy Friday everyone! The first 1000 people to use the link will get a free trial of Skillshare Premium Membership: skl.sh/theplainbagel12201
@Steve_Takes
@Steve_Takes 3 жыл бұрын
From my experience, those who've achieved the ability to retire early are often doing something they'd rather not retire from.
@thesilentelitemember2611
@thesilentelitemember2611 3 жыл бұрын
It did not right. I am asking real estate investment Apts or commercial property.
@fuzzylumpkin8030
@fuzzylumpkin8030 3 жыл бұрын
Grind until I die
@mr.stargazer9835
@mr.stargazer9835 3 жыл бұрын
I'm actually hoping to follow the fire model as I want to be an author but not rely on my books to fund my life. Since I want to bet big on being a successful author I feel that pursuing a fire strategy is like reducing my long term risk.
@tnatstrat7495
@tnatstrat7495 3 жыл бұрын
People investing early in the biggest Bull Market in history are retiring early? No shit. Lets see who can do the same in the coming bear market.
@DanRichter
@DanRichter 2 жыл бұрын
I just turned 27. I've been doing a lot of calculating and found that I'm on track to retire by the time I'm 32. Unfortunately, I have to die before I turn 33 for this plan to work.
@pouya5625
@pouya5625 2 жыл бұрын
you had me in the first half :D
@herisuryadi6885
@herisuryadi6885 2 жыл бұрын
@@pouya5625 the meme
@joecommenter1332
@joecommenter1332 2 жыл бұрын
That would be FIDE - financial independence die early
@Bhavesh_verma
@Bhavesh_verma 2 жыл бұрын
I didn't understand the second half can anyone explain?
@gabrielgarcia7554
@gabrielgarcia7554 2 жыл бұрын
@Project Aesthetics he’s saying that if he retired at 32, he would only have enough money to last one year. Therefore, if he wants this money to last his “entire retirement” he would have to die by age 33.
@CharlotteJacobsons
@CharlotteJacobsons 23 күн бұрын
"So, I’ve finally reached the 'I have $75k sitting in my emergency fund' milestone... and I’m still binge-watching videos on whether FIRE is even possible. I mean, I could just throw it into some index funds and hope for the best, right? Or do I need a crystal ball for this early retirement magic? Just trying to figure out if my Netflix subscription will be my only retirement plan.
@claireNymans
@claireNymans 23 күн бұрын
Haha, yeah, I thought the same when I hit my 'savings jackpot.' But seriously, before you start yolo-ing that $75k into the market, consider a financial advisor. Mine helped me avoid some real rookie mistakes and set things straight. It's not as boring as it sounds, trust me!
@MollyShorters
@MollyShorters 23 күн бұрын
Okay, I feel you both... I’m in the same boat, sitting on a decent chunk of change but feeling like I’m blindly throwing darts at an investment board. I think I need an advisor too, but where do you even find one? Feels like I’m just one bad choice away from wiping out my savings.
@claireNymans
@claireNymans 23 күн бұрын
There are a handful of CFAs. I’ve experimented with a few over the past years, but I’ve stuck with Linda Aretha Reeves for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.
@SilvesterMiles-y4j
@SilvesterMiles-y4j 23 күн бұрын
"Watched Linda Aretha Reeves speak at a Bloomberg finance summit a few years ago, and she was amazing! Honestly, the way she broke things down just made sense."
@CharlotteJacobsons
@CharlotteJacobsons 23 күн бұрын
Just looked up Linda Aretha Reeves-she seems like exactly what I need to kickstart my financial journey. Thanks for the tip!
@vsssa1845
@vsssa1845 3 жыл бұрын
FI is everyone needs to strive towards, but RE is optional.
@Zonno5
@Zonno5 3 жыл бұрын
True. I like my job. I don't want to retire early, but I surely want to live a comfortable life.
@christodang
@christodang 3 жыл бұрын
That's my view on it. I'm more focused on the FI part so that I can stop being so dependent on my 9-5. What if I want to do X project but it's not the most well paying? What if I want to take 3 months to go travel? The FI part in FIRE allows me to do that without needing to worry about whether I can pay rent/mortgage next month. The biggest advantage the wealthy have is choice IMO and while FI doesn't put you nearly on their level, it certainly opens up the choice between "what jobs do I take" and "when do I take them" without putting your financial survival in jeopardy.
@robertandersson3417
@robertandersson3417 3 жыл бұрын
Well said! Have a cookie :)
@Roarpian
@Roarpian 3 жыл бұрын
Very well said! Go FI everyone!
@MrSGH21
@MrSGH21 3 жыл бұрын
I don’t want to retire and I don’t get what the big deal is with retiring early. I will probably never retire but I will be FI very early
@Hannahbenowitz
@Hannahbenowitz 29 күн бұрын
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
@JosephineKenney
@JosephineKenney 29 күн бұрын
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
@PennyBergeron-os4ch
@PennyBergeron-os4ch 29 күн бұрын
It's recommended to save at least 20% of your income in a 401k. Sonya Lee Mitchell taught me to estimate how much you should save based on your age and income. I've been with her for years now and her decades of experience in the markets translate to chunks of value in so may ways! She has upscaled my portffolio and even got me reading self help books haha
@HildaBennet
@HildaBennet 29 күн бұрын
That's an intriguing outcome. How can I contact your Asset manager?
@PennyBergeron-os4ch
@PennyBergeron-os4ch 29 күн бұрын
Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science.
@HildaBennet
@HildaBennet 29 күн бұрын
I ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
@rfimor
@rfimor 3 жыл бұрын
My dad is a billionaire and I FIRE since I was born. Hope this tip helps.
@Guerrero_DJ
@Guerrero_DJ 3 жыл бұрын
It certainly doesn't. You will never need financial help...
@hanshintermann1551
@hanshintermann1551 3 жыл бұрын
@@Guerrero_DJ It's a joke.
@Guerrero_DJ
@Guerrero_DJ 3 жыл бұрын
@@hanshintermann1551 It tried to be a joke, not funny though
@plantinggamer9661
@plantinggamer9661 3 жыл бұрын
@@Guerrero_DJ I thought it was funny
@tucker13liam
@tucker13liam 3 жыл бұрын
Why didn’t they teach this in school? You should write a book or something
@elvikingo
@elvikingo Жыл бұрын
I FI'd out a few years ago and quit my job. I started a business so I'd have something productive to do. After 6 months of bliss, the stock market crashed. This is the nightmare scenario you mentioned. I didn't want to tap my capital while it was down, so I was suddenly depending on my business income. Turns out, I love being self-employed. I hated being an employee at a big company. Now I use the investments as a safety net to keep my new self-employed lifestyle going 😊
@PaulB-q3d
@PaulB-q3d Ай бұрын
Two years cash on hand you needed, you did it wrong. Congrats on finding something you enjoy doing.
@MichaelIreland
@MichaelIreland Жыл бұрын
Financial Independence Recreational Employment. This is my goal. I was 44 when I decided this was for me, and I hope to achieve it at age 47. Almost there in age ... A ways to go in dollars. Downsizing your life is very difficult, too. We accumulate so much unnecessary stuff, and liquidating is both challenging, and less valuable than not wasting resources in the first place!
@TheChromelover
@TheChromelover 6 ай бұрын
Great comment. Well said.
@ncprealty3844
@ncprealty3844 3 жыл бұрын
I became an on paper millionaire at 31. That was 19 years ago and still working. One million isn’t enough to live an opulent lifestyle, the clip of those douche bags misleading folks and touting the common ease of becoming a millionaire is outlandish. Thank you for your thoughtfulness, and well researched knowledge, it’s so refreshing.
@coleb9410
@coleb9410 3 жыл бұрын
Did your paper net worth increase throughout (barring the great recession)? I.e. do you have multiple (paper) millions now? Surely a few million is enough to stick in index funds and live off of.
@Nepthu
@Nepthu 3 жыл бұрын
A million dollars is enough to live off if you live in the right area. If you're in California, forget about it. The couple from "Our Rich Journey" moved to Portugal where their 1 million is worth more and healthcare is inexpensive.
@Nepthu
@Nepthu 3 жыл бұрын
@@coleb9410 Great point. Putting a million in the S&P 500 should have produced a huge return over all these years.
@jesseperez4185
@jesseperez4185 3 жыл бұрын
Of course, you have to live really frugal, I desire frugal/minimalist living i don't need material possessions
@jazcaddell2443
@jazcaddell2443 3 жыл бұрын
No probably not opulent but that's not what FIRE is about. Me and my husband do fire because of the freedom it provides. Our expenses are $1500/mo. God willing in 10 years our house will be payed off, my husband would have finished his passion degree without debt and we'll have 500k+ in the bank. That's not enough to live forever but it's enough for both of us to pursue our dreams without the fear of failure. When you only have to buy food suddenly you can do anything.
@claytorpedo
@claytorpedo 3 жыл бұрын
I think this was a pretty fair and honest assessment, which is not normally the treatment the FIRE community gets. Thanks Richard!
@MrWaterbugdesign
@MrWaterbugdesign 3 жыл бұрын
I retired 19 years ago at 45 before there was much of an internet. I had no idea what I was doing, had no plan. I worked as a software engineer and hadn't saved much but had brought a house paying a mortgage but that does put away a little. I worked almost always in startup but never had a big payday, They were just fun. But I got to cash out of one for $100k and instead of looking for my next job I decided to work on my own app to see if I could start my own business. I'm a very good engineer and a sucky suck business person. I ended up just enjoying writing code and got into fish ponds and gardening. Became obsessed. I looked at my cash and decided to just have fun with ponds and gardening and go back to work when the money ran out. 3 years later...whoa, the cash lasted 3 years with a $2200/mo mortgage? I was very surprised. If I didn't have the mortgage it seemed like I could live forever I did pickup a little cash along the way building ponds for others, invented a pond cleaning tool that I made and sold, but not a huge amount. I wasn't even trying to save money. I was just so into the ponds and gardens I didn't have time to spend money. That's when I realized I had retired. I didn't even tell my wife because back then it was hard to describe. Today I could just say FIRE. So I sold that house in San Jose and got $400k profit tax free. Moved to Phoenix AZ. I've bought 3 home here over 15 years. I buy fixers, fix them up (another hobby I like) and when I want to move I sell them. Made $60k, $0k, $200k all tax free. The $0 was I got caught with 2 houses in the 2008 crash and one I had to rent so kind of hard to computer the actual profit but I think I broke even. Profit aside that's $0 rent or mortgage paid in 15 years. That's about saving $180k in rent/mortgage. All these 4% videos kind of skip around home ownership. To me it's key. In 15 years my net on house has been +$260k. As stated in the video, yeah when you retire young you have a lot of time. I wasn't interested in just partying everyday. That gets old. And who are you going to party with? Everyone is at work or has to go to work tomorrow. That's a big issue I don't hear people talk about. You better be good with yourself. I created a rule...whatever hobby I get into has to be no or almost no cost and must have the potential to earn money. Having skills that could be turned into cash imo is way more security than even a pile of cash. I had software, gardening/ponds and I had some construction skills which I improved by fixing up mine homes. My expenses over the past 15 years has been consistently in the $7000-9000 range. I get that seems low and the way I live most people wouldn't consider. I do live in a pretty nice area but it's been years since I ate out, went to a movie. I have dated a few times for short periods and spending goes up then, but not too much. It's been kind of like a game of "what can I do without?" I love it. And now I'm able to get SS which would be $2100/mo but I don't need it so I haven't taken it yet. So imo the question of when you can retire is not about how big a pile of cash you have. That's actually silly. If you have enough money to last you a month, a few months, a year, what's the harm in retiring for that time? That gives you the freedom to see what you can shake loose doing something you love. It's work when you have a deadline, a rent to make and $0 in the bank. That's the stress of a job. The dynamic changes completely when you have time. You can take some risk. Try out some ideas. Just don't spend money. Spending money is a trap. If you want to start a business don't start by buying office supplies...that's the trap. You know how to buy office supplies. It's fun. It seems like you're in business. Instead get right to the thing. Figure out how to do it for nothing. If you can't toss that and think of something else. 15 years may past before you realize you retired 15 years ago.
@Poshcat
@Poshcat Жыл бұрын
Wow, I know your comment is a year old, but I love your story and the way you told it. Great levelheaded advice all the way around. Good job!!
@juj122
@juj122 Жыл бұрын
Nice story! Congrats!
@DudeWatIsThis
@DudeWatIsThis 5 ай бұрын
Super interesting take. Gave me some food for thought. Thanks!
@audreyandrea460
@audreyandrea460 4 ай бұрын
Maybe take out your social security and give some money to charity. I read that whole comment you wrote and the theme of your story was “me me me”. Depending on your hygiene habits, personal style, and the state of your belongings, it sounds like you might be a low level miser.
@BU_IDo
@BU_IDo 3 жыл бұрын
I'd rather live a semi retired life with that balance between working the career I love and yet having more time to do other things I like. A balanced lifestyle is key.
@AdebayourQuadri
@AdebayourQuadri 8 ай бұрын
Acquiring a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $160K for some time now, but my major challenge is not knowing the best entry and exit strategies. I would greatly appreciate any suggestions.
@luitzenhietkamp
@luitzenhietkamp 7 ай бұрын
Invest in index funds with your monthly savings and don't touch it until you need it.
@andersonandrew112
@andersonandrew112 4 ай бұрын
VOO or VTI. Not financial advice.
@xcw4934
@xcw4934 3 жыл бұрын
Best thing to learn from FIRE movement: Most people tend to spend more as they earn more. You start your real career after graduating from tertiary study so you move out of shared accommodation and rent your own place. You get a few promotions so you get a new car and trade in that thing you learned to drive in currently being held together with tape. These are quite reasonable but then we don't tend to stop increases in lifestyle spending after the really urgent stuff has been catered for. Our friends go on overseas vacations so we start doing that too. Your sibling gets an amazing entertainment system for their living room so you do too. If you are able to avoid this kind of ramp up of spending as you start really earning, it will make a huge difference by the time you're 40.
@Justin-vb4ek
@Justin-vb4ek 3 жыл бұрын
I don't see myself retiring early. But I'm trying to save tons of money now so that one day I can wake up and work whatever job I want and not care how much it pays.
@icvetz
@icvetz 3 жыл бұрын
Exactly
@mykeptyson9177
@mykeptyson9177 3 жыл бұрын
Thats still FIRE for most people!
@Zahra.alturabi
@Zahra.alturabi 3 жыл бұрын
love this
@TheNebraska402
@TheNebraska402 3 жыл бұрын
Same here! Get after it!
@TheRealNCYank
@TheRealNCYank 3 жыл бұрын
Yes - that to me defines retirement.
@ben3989
@ben3989 Жыл бұрын
My semi FIRE plan: I’m retraining as a plumber. In my 50’s I’ll take on a mellower work schedule. I really don’t mind work, just working too much.
@BoomerElite4u
@BoomerElite4u 3 жыл бұрын
As someone who lives in Appalachia, I know from experience that my relatives who live in NYC or Los Angeles could very easily buy a house here and still have hundreds of thousands of dollars left over. The dividend payment from IBM would put them in the $40K a year range, whereas the average income here is $25k a year.
@honkhonk8009
@honkhonk8009 3 жыл бұрын
LA and California are severely mismanaged. Affordable housing is nonexistent either because of "environmental conerns" or "the community doesnt like it" Its funny as hell how these people live in third world favelas like Cali and see nothing wrong with it.
@altset98
@altset98 3 жыл бұрын
I just turned 30 a week ago. I have no savings but at least I paid $24k in consumer debt in the last 12 months.. I spent my 20s, well , spending and did not have any sort of financial awareness. I think there are lots of factors that play a major role on whether FIRE could even be an option for you. I personally did not grow up in a financially oriented household and my upbringing was plagued with instability, my mom claimed bankruptcy a few years ago. I personally had to take student loans and then proceeded to make terrible financial decisions that got me into $35k of consumer debt throughout my 20's. Financial literacy is such an overlooked concept that can make or break you but it is never too late to start changing your habits, time will pass anyway ..
@hayden3774
@hayden3774 3 жыл бұрын
Your advice is invaluable, and you are offering it for free for us peons on KZbin. Kudos to you my friend
@960john
@960john 3 жыл бұрын
Some of those people made a lot of money in the first place, having a good job, and then they moved to countries with lower cost of life, like Portugal, or tax havens.
@LifeWithRilla
@LifeWithRilla 3 жыл бұрын
What is holding you back to learn to code when there are companies that will teach you to code for free and then charge you later only when you're hired and then moving to Thailand bali and exploring etc like I plan to do? All personal will... I decided I wanted it and I went for it and I went from earning 13.50 an hour to an industry that pays 6 figures a year as someone from the ghetto every body with a bit of will can afford to do it too. Self limiting beliefs is what holds you back if you think otherwise.
@LifeWithRilla
@LifeWithRilla 3 жыл бұрын
If you're curious check out Lambda School great opportunity.
@firefluff1
@firefluff1 3 жыл бұрын
How’d you get through the coding process man? And I hear South Korea is a haven a step above Thailand/Bali. Malaysia, Poland. So many options.
@LifeWithRilla
@LifeWithRilla 3 жыл бұрын
@@firefluff1 I went through a coding bootcamp so things were guided and you were encouraged to explore a little and break things. It was tough but it was also doable. Yeah, South Korea is a really interesting country they have a lot going on. Probably the closest to western culture. But, that is the issue. It's expensive to live there compared to Thailand/Bali etc. For me the purpose of this kind of travel would be to live a high-quality life on a budget.
@firefluff1
@firefluff1 3 жыл бұрын
Coding bootcamp was Lambda?
@pongop
@pongop 3 жыл бұрын
I love Our Rich Journey! They're one of my favorite channels and they're such a cool family.
@jacoblipkestudios7621
@jacoblipkestudios7621 2 жыл бұрын
I love how honest you are about these kinds of things. You’re actually trying to help people invest successfully rather than trying to sell us something.
@Michael-bd8zh
@Michael-bd8zh 3 жыл бұрын
Smashed the like button, and subscribed. Enjoy your early retirement, Mr. Plain Bagel.
@danirod08
@danirod08 3 жыл бұрын
FIRE by creating a youtube channel called the plain bagel. A voice of reason. It's about finding something you love. Retiring is boring as well. It's the reason some retirees go back to teaching or giving speeches etc. They got bored watching the news all day
@jacktunasutter2635
@jacktunasutter2635 3 жыл бұрын
I decided, I'm joining the fire movement!! Going for it!!! I'm 61 now, bust out rebuilding Alt. for 9 more years and then get a part time job. 70 is the new 50 baby!!
@alexanderoh1847
@alexanderoh1847 3 жыл бұрын
Being somebody who is striving for FI I'm not really thinking of going straight to not doing anything, but having the chance to take much greater risk with Jobs as I am not as dependent on the income part of the Job anymore. I thought hard about Lean/Coast/Fat fire and came to the conclusion that to retire with a minimal amount of money accessible infinitely is very unappealing, however having the capacity to choose your own destinity is incredibly powerful. You can quit your job that might be paid well but unfulfilling and try to apply your skills in your own company or a startup that is high risk. Also I'm truly afraid of the retired but unvalued section of RE. Update: After reading all the other comments your video greatly captures the difference between the people who can FIRE wanting the flexibility and the people who want to retire having a hard time to reach those savings goals.
@globalmuffin2
@globalmuffin2 3 жыл бұрын
bro, nobody will give a damn on you at an older age, do you think that jobs grow in the trees like apples that you can pick of?
@Kona138
@Kona138 3 жыл бұрын
@@globalmuffin2 there are always jobs available to good people who have the right attitude.
@trishsoren3445
@trishsoren3445 3 жыл бұрын
No, unfortunately, ageism exists in hiring regardless of your attitude.
@IncomeBoost42
@IncomeBoost42 3 жыл бұрын
Great analysis. I love that you give the truth to people even if it’s something they may not want to hear. That’s how you really help people.
@ojaimark
@ojaimark Ай бұрын
I'm about to turn 35 and have reached a much more reasonable and more common version of FIRE which is I no longer need to make contributions in order to retire comfortably. As long as I don't touch it, my current nest egg will grow to be more than enough to retire on even if I never make another contribution. And as much as I avoid thinking about it or factoring it in, this doesn't include what is likely to be a fairly healthy inheritance from my parents when they pass. This allows me to make life and employment decisions with a known minimum of simply covering expenses. Which for me allowed me to walk away from a high stress job I was burnt out on, lower my expenses, and get a much more enjoyable part time job that is capable of covering those expenses. If and when I am feeling more like getting back into higher paying jobs, I have the choice to allow myself some lifestyle creep, or I can simply continue to save more and work towards true early retirement. But as long as I can pay my bills I know I'm golden at 65.
@theadvocate1925
@theadvocate1925 3 жыл бұрын
ME as of January 1st 2021. $1.4 million at 55 with a 3% withdrawal rate. I could even easily live off $35k or less per year.
@milkncookie
@milkncookie 3 жыл бұрын
Grats!
@1MinuteFlipDoc
@1MinuteFlipDoc 3 жыл бұрын
you have military retiree health insurance?
@dailyrant4068
@dailyrant4068 3 жыл бұрын
You say that, but in 30 years $35k is about $70K then due to inflation. Also, a lot of discussions happen without mentioning about housing, etc. Most of the time, the people that use lower numbers are assuming house is paid off, while people that use higher number are assuming it's not. It's a big factor. Also, medical insurance will become more expensive over time, and your body naturally will have more problems... so bills will come
@theadvocate1925
@theadvocate1925 3 жыл бұрын
@@dailyrant4068 Yes agreed and I didn't mean to come off as braggadocious. My wife still works by her own choosing and currently has about $252k in her 401k so add that to my $1.4m. We are both on her health insurance. She said she will quit when she gets close to $400k. None of this includes our homes value of about $350k, 2 collector sports cars worth about $30k and a watch collection valued at 80k. Stocks including stock mutual funds are the best way to keep up with inflation as well as the SS small annual increases until they make changes. Look, there are more pitfalls and potential failures than what you mentioned but I'm just at a point where I am 56 in three months, currently facing possible prostate issues now with a high PSA and life is just to short to be in a office or cubicle for 40 + hours that you don't like. Being very conservative in the beginning on $35k seems most prudent and increase as needed.
@freddytang2128
@freddytang2128 3 жыл бұрын
The problem for young, single, childless people considering this, is that you're assuming you're never having kids. If you start a family, it becomes way harder to budget or even predict your annual spending. What if your kid has a medical condition, or get accepted into an expensive university, or you have 3 kids. Your FIRE budget probably goes out the window
@TomBedlammusic
@TomBedlammusic 3 жыл бұрын
this is true but at a guess, id assume the people who are really dedicated to the retire early bit, are happy to either not have kids or accept that if they do, that the plan goes out the window. I know there are FIRE people with kids, but still.
@dominikfrohlich6253
@dominikfrohlich6253 Жыл бұрын
I have three kids. I’m not retired but I’m investing in income that helps me boost my monthly paycheck. A virtual raise if you will. It will also help support my kids as well as my actual retirement. I’m still able to save aggressively, so I might make an early retirement in my mid 50s.
@sammierose1150
@sammierose1150 Жыл бұрын
Neither me nor my husband like children. So we’re more than prepared for what it takes to retire in our late 30s or early 40s 😅👌
@Me-eb3wv
@Me-eb3wv Жыл бұрын
Telling my kids the same thing dad told me about university. He ain’t paying a single cent and it’s up to me to pay it all.
@TheEmolano
@TheEmolano 8 ай бұрын
At least if you have a kid you will have enough money to pay for most things he needs. Also having a kid imply you're married wich should imply you have access to your wife's salary too. If that isn't the case then change wife asap.
@YKSGuy
@YKSGuy 3 жыл бұрын
I really like the idea of taking a job you love vs a job you NEED to make ends meet. Lots of pressure when every pay day counts and there is risk of you losing your job out of the blue.
@cappybenton
@cappybenton Ай бұрын
Wunderbar. This is a very honest explanation of the FIRE movement. I first learned about it 25 years ago. I was intrigued. I’m frugal and smart with my money. However, I soon discovered it only works if you have a job that pays six figures. I did not. BUT by being frugal and smart with money I absolutely maximized the value of the money I have earned.
@rithlim6016
@rithlim6016 2 жыл бұрын
This is why I like your channel, you are honest and straightforward in your analysis. Please keep up the great work and I look forward to more of your content.
@BrendanEvan
@BrendanEvan 3 жыл бұрын
Our goal is work optional by our early 40’s!
@TomBedlammusic
@TomBedlammusic 3 жыл бұрын
work optional! I like that. not as catchy as FIRE perhaps, but explains perfectly what fire is. nice
@talknight2
@talknight2 3 жыл бұрын
I like this one too. I'm 26 and I can't really predict my motivation to work 20 years from now, but I sure as hell want to not *have* to.
@TomBedlammusic
@TomBedlammusic 3 жыл бұрын
@@talknight2 if my motivation to work now is anything to go by, I think it's save to say it'll be pretty low at 40 😂
@talknight2
@talknight2 3 жыл бұрын
@@TomBedlammusic Well, that depends on what you do I guess.
@GoldenDragon1999
@GoldenDragon1999 3 жыл бұрын
Mad props for speaking your truth to this somewhat cloudy hype of FIRE.
@Agrantar
@Agrantar 3 жыл бұрын
As someone going for FIRE (conservatively 14 years to go) - I generally agree with all of the points in the video, though at the same time heard nothing new. Still, I think it's good to hear for people who are super hyped or expect glamorous shit here.
@alexperoff-investingessent8367
@alexperoff-investingessent8367 3 жыл бұрын
I totally agree that FIRE might not be achievable to a lot of people, especially due the random large bills or unexpected unemployment that comes your way. But I think you make a lot of great points and that it's really the mind set that will help people achieve some level of financial independence. I think financial independence it really what people are after. As you said, most people still work even though they are "retired", but it's because they choose to work. Solid video. Like-71
@klana6755
@klana6755 2 жыл бұрын
Financial independence helps to let go off fear and many bad decisions made by fear. I used to have 'what if this disaster happens' scenarios running in my mind. These disasters were not just financial, but societal, personal, political, existential etc. With financial independence, it is easier to let go off fear. You still have to do the psychological/spiritual process of letting the habit of fear go, but that is much easier with a concrete financial reserve.
@KRYMauL
@KRYMauL 10 ай бұрын
If a disaster happens, a pile of money won't help.
@CarloRizzante
@CarloRizzante 3 жыл бұрын
I like the couple who announce to have retired early and sold all their furniture. But, they kept the TV.
@deb5392
@deb5392 3 жыл бұрын
Lol, that couple moved to Portugal and they are living their best life right now. They FIRE'd in their late 30's.
@travis3567
@travis3567 3 жыл бұрын
My goal is to retire at 44-46 after retiring from the military at 41 and working for a few years with two income streams to cash flow my kids college expenses. At 28 I’m already debt free with about 40k in retirement savings. Fingers crossed!
@aparadoxicalone
@aparadoxicalone 3 жыл бұрын
While this was the most balanced review of FIRE I've seen from an economics KZbinr, I'd still love to see a video dissecting the normal retirement plan with the same level of skepticism - "now, instead of saving money in a broad index fund, these folks bet everything on not getting laid off from a single job, greatly increasing risk" 🙄
@JeromeFelipe
@JeromeFelipe Жыл бұрын
I was asked recently by a financial adviser of when I "plan" to retire, and I told her that probably I'll work as long as I'm able. It may not be the same industry (software engineering), but it would involve some mix of part-time employment and small business.
@zsi
@zsi Ай бұрын
I am retiring at 40. Following the 95% rule. Good luck to me, but I'm confident.
@AL_THOMAS_777
@AL_THOMAS_777 25 күн бұрын
me Too ! Never EVER regrettet a single second . . .
@michaeldonato4936
@michaeldonato4936 3 жыл бұрын
Noone ever mentions how difficult/impossible it may be to do this AND have kids (and send them to college)
@1900maniac
@1900maniac 3 жыл бұрын
@MaGicTOWer How should I get a job as a surgeon without going to college?
@thefire-nanceguy4440
@thefire-nanceguy4440 3 жыл бұрын
you include the expense in your annual figure, it's not hard to calculate. That's why Maths is awesome, because it's not subjective
@InvestToLive
@InvestToLive 3 жыл бұрын
Great video. My favorite quotes are always the silliest... "countless people have retired before 30...". Yeaaaaaa countless, got it.
@DeadDancers
@DeadDancers 3 жыл бұрын
I’m kind of casually aiming for FIRE. I haven’t paid attention to the mechanisms - it’s more of a spiritual agreement with the notion. I didn’t start until I was thirty but I think I’m on track to retire when I’m 40. I probably won’t, but I definitely will reduce my working hours a lot and just generally enjoy life more knowing that working is optional and not the only thing between me and being made homeless. :/
@xiphoid2011
@xiphoid2011 2 жыл бұрын
Good video. Another thing you need to sacrifice for FIRE is having kids. My wife and I are classmate and got our doctorates in our late 20s early 30s. We make upper middle class income and we are frugal. We would easily be able to save 60-70% of our after tax income except we have 3 beautiful kids. Food, clothing, toys, computers, doctors, dentists, school, family vacations, saving for college... So we are only able to save 25-30% of net income. We are on track to retire by 60, BUT I personally wouldn't trade any one of them for any amount of money. You don't really know what life means until you've held the life you created in your arms. The circle of life...
@NoNameNumberTwo
@NoNameNumberTwo Жыл бұрын
Seems like a lot of people are willing to forgo having children, or even getting in a serious relationship in order to FIRE, and that just wouldn’t work for me. Like you said, it all comes down to your values.
@youtubename7819
@youtubename7819 Жыл бұрын
I want two children and I am wondering about this. I grew up extremely poor. Like one parent had a minimum wage job poor. Is it really so expensive to have kids? I didn’t feel financial stress as a child. I had food and school and toys and most of the time a roof over my head. You can convince a kid that their frugal lifestyle is normal and honestly, globally speaking, it is! Part of me thinks that the idea that kids are expensive just comes from people who really mean that keeping up with the joneses’ family portrait is expensive. Then again, my parents probably got significant government food assistance that wouldn’t apply to someone seeking FIRE.
@macsidia
@macsidia Жыл бұрын
I wanted a relationship but couldn't find anyone thats interested, so now choosing FIRE instead.
@TheEmolano
@TheEmolano 8 ай бұрын
If you're going to have children you're supposed to have your wife income too to help things, so in theory your expenses would not increase a lot. If your partner can't become this kind of wife then dump her before you're even married.
@aruthorcarly
@aruthorcarly 3 жыл бұрын
I achieved getting FIREd instead
@TooLateForIeago
@TooLateForIeago 3 жыл бұрын
FIRE: Live like a deprived animal in your 20's, retire too early, go back to work when you're 45. Being 37 myself, I look at these vidieos of the FIRE prophets in their 20's describing their lifestyles and I think, "I'm glad I passed." That being said, the skills they teach are great for me. I am trying to save so that about 1/3 of my income is derived from savings by the time I'm 50.
@arnoldas6840
@arnoldas6840 3 жыл бұрын
Well said!
@markt5619
@markt5619 3 жыл бұрын
The deprived animal is a bit much. I agree that there are FIRE ppl who cut their lives and spending to the bone. There are also FIRE people who didn't. Choose the path you want. There is lean fire where you cut to the bone. I think your criticism is directed to lean fire. There is fat fire where you have 6 figure incomes like physician on fire.
@ohno7582
@ohno7582 3 жыл бұрын
I don't understand what you mean by deprived? Basically all you need is an internet connection to have endless entertainment and knowledge and you can get together with friends at your house instead of spending money on vacations and outings? Maybe if you are someone who feels the need for social elevation and inclusion you might feel left out saving in your 20's but im pretty sure introverts will be fine with it.
@kevinfleming5663
@kevinfleming5663 3 жыл бұрын
you know many FIRE people either have wealth parent/grandparent or they work for gov't where they can reite in 20 years and get half pay and they save up a lot to invest to supplement their income.
@k4ir0s
@k4ir0s 2 жыл бұрын
I think 50 to 55 is the perfect practical age for retirement.
@MJ-uk6lu
@MJ-uk6lu 2 жыл бұрын
Seems like a good movement to be honest, it's very practical, teaches good morals and good habits. It certainly is not for everyone and not everyone will achieve RE part of FIRE, but I think that anyone can at least minimally attempt to do it.
@KRYMauL
@KRYMauL 10 ай бұрын
Remember RE technically means before 65, so retiring in your late 40 - early 50s is still early
@MJ-uk6lu
@MJ-uk6lu 10 ай бұрын
@@KRYMauL IDK about 65, it's really not RE where I live. At 65 years you get pension from state. Many people just take it and stop working.
@KRYMauL
@KRYMauL 10 ай бұрын
@@MJ-uk6luRetire Early means you stop before state pension kicks in, and most countries have some sort of pension programming around 62 to 67.
@pistopitpit
@pistopitpit 8 ай бұрын
Trinity study is not saying that you will not be drawing on your capital, it is saying that you will not run out of money. It makes a big difference rarely mentioned by most who mention these study.
@lenusniq_9746
@lenusniq_9746 2 ай бұрын
I find it funny that 4% rule is something which is mentioned even in Jane Austen's books back back then the bank did guarantee 4% pay out every year. Now it is being sold as this great novel idea when the sconomics have changes so much it is all more volatile.
@jjpp1993
@jjpp1993 3 ай бұрын
yep the first thing when I talk with people that want to invest is: can tell me about your expenses?? Thats were most people fail… “I’m giving myself the life I’ve worked for” and I’m like “ we graduated 2 years ago, do you think thats work?
@jimfarris1160
@jimfarris1160 3 жыл бұрын
I'm a late adopter of FIRE. I'm 42 trying to be in a position to retire by my mid fifties. I live like a miser and aggressively invest a decent portion of my modest income. Honestly if I could get my portfolio to pay me $1000 per month after taxes, I'd go back to school and finish my degree. Not for financial gain, (that would be a bonus), but because it's something I've always regretted not doing.
@jerrysadventure7423
@jerrysadventure7423 3 жыл бұрын
It got me when you said “spend most of their lives retired” ;)
@winteryz1222
@winteryz1222 8 ай бұрын
I’m kinda half way there, in my early forties with stable rental+dividends income and I still work full time 4-5months each year while taking the rest of the year off for light travel/visiting friends in different cities. I think now I found a well balanced way to live, even though I did work my butt off in my twenties.
@xxx-vi3zj
@xxx-vi3zj 3 жыл бұрын
I taught my kids personal finance at a very young age. both 14&16 respectively and are making above $2k passively. if the younger generation can take their mind of the social media, they can learn to make more money and earn freedom.
@living_water-
@living_water- 3 жыл бұрын
I wanted to retire by 30. It didn't happen but I decided to have a BIG 30th birthday party in Cape Town SA. All the friends I invited to travel with me couldn't take time off work. This was a wake up call. I realised this 'retire' early dream means spending time alone or with 70 year olds at the beach. Most guys my age are 'balanced'. They work but also raise kids, take holidays, meet friends over the weekends etc. Work is important. You just need to find something that doesn't feel like a job and do it until you drop. Money is going to come anyways from that job you love.
@keatscubes
@keatscubes 3 жыл бұрын
This was super tastefully made. I feel like it addressed it from a very level headed place. Awesome to see! ☺️
@InvestingBookSummaries
@InvestingBookSummaries 3 жыл бұрын
I'm planning to be financially independent at 40 but maintain selling items on ebay and making videos casually for extra income. Just the peace of mind and lack of necessity is all I want.
@kevinimp8217
@kevinimp8217 3 жыл бұрын
or invest today in the secret crash that has already happened. the opportunity is starting to fade.
@Boahemaa
@Boahemaa Жыл бұрын
A very fair assessment of the movement. I have found ironically that it is more effective in countries with high interest rates where government protected investments like treasury bills can grow your money quickly. Its also very individualistic and couples in the community have not fared well.
@by010
@by010 Жыл бұрын
Ive never heared of this movement but I did run some numbers and have personal roadmap, although it dosen't exactly aim at stopping work early, rather my goal is to get "runaway" capital, so that when I dont want to, I can stop working, without set date Im willing to do so (okay, my line in sand is when it will be useless to work). My plan for now involves some trading, and splitting assets into different risks (that includes buying physical gold which Im going to do this summer if nothing blows up in my life). So far it's going better than I expected when I started (2 years ago), although for now I can allow myself fairly high risk tolerance, which Im going to cool down on in few years.
@josephabraham4058
@josephabraham4058 3 жыл бұрын
I want to meet a 30 year old couple, with a house, two kids, a dog, two cars, that is FIRE.
@andrewmattox1233
@andrewmattox1233 3 жыл бұрын
Any 30 year old dude that is married, with two kids, will probably be in debt till 45. With a 50% chance of divorce, which would mean he would be in debt till 55.
@dgr8oneme
@dgr8oneme 3 жыл бұрын
Call me
@anniealexander9616
@anniealexander9616 3 жыл бұрын
Having a "life" cost more. But who wants to be the crazy cat man? 🤔
@nicklabail2610
@nicklabail2610 3 жыл бұрын
You just describe the mentality you cannot have if you ever wanted to go fire. People ASSUME you need to OWN a house, which is often way too big than needed. People ASSUME you need two cars. You can confortably arrange your life to live in a rural area where rent / mortgage will be next to nothing . You can confortably arrange your life to live in a well serviced urban area and rent a small house or a bigger loft, a few minutes away from the hot & pricy urban zones and not need any car.
@HelderP1337
@HelderP1337 3 жыл бұрын
You don't need two cars, one is more than enough for a fire couple. But search here on YT for myrichjourney, they're the exact definition of what you mentioned, and they documented their whole journey to achieve FIRE, including where they moved to so their money stretches even more.
@joecommenter1332
@joecommenter1332 2 жыл бұрын
My fear of doing FIRE would be the difficulty of going back to work years later if my finances go off track. Whatever job skills that enabled me to be FIRE eligible will have faded into obsolescence. Few employers will want to hire and train an older person who hasn't worked a serious job in years.
@Donkeyearsa
@Donkeyearsa Жыл бұрын
Their are people who live on $10,000 a year living in a cargo van that is decked out like a mini motorhome. They try to move around as little as possible and they don't spend money unless it's absolutely nessasery. So extreme frugalism is quite possible but for a lot of people extremely undesirable as it really limits your options.
@jimmcneal5292
@jimmcneal5292 11 ай бұрын
I probably have a very unique situation in a sense that I don't really care about retiring early, but I want to get rich quick to be able to afford the type of family I want. And it kinda makes approach based on frugality even less effective
@non4me824
@non4me824 3 жыл бұрын
the reality is that most people who are able to FIRE have a rich familiy , when your family buy you house you only need to spend money on food / insurence etc which is much less comparing to paying a mortgage. there are indeed people who did well in a startup company or manage to invest in a company before it grow but they are a minority among the people who try to FIRE but most of us, even with good salary wont be able to retire early without any external source of money like a rich family
@Flamer997
@Flamer997 8 ай бұрын
It's definitely something anyone can learn from and I do believe you could retire early by doing so but like you said, the factors are definitely going to be in your favor if you're from a richer background but even a poor background can get you and maybe even your future family out of that rut
@BruceWayne-us3kw
@BruceWayne-us3kw 3 жыл бұрын
I don’t make enough to retire early unless I’m successful with stocks and/or other investments.
@Figgy20000
@Figgy20000 2 жыл бұрын
I'm 37. Planning to retire early at 60 when I will be able to obtain both CPP and OAS, I'll be making double the money I am now and will be able to party and travel the world for a full 30 years and never have to worry about money again.
@aarontheblackfox
@aarontheblackfox Жыл бұрын
I would agree that too much focus is on the first half of FIRE. I'm more after financial independence. I don't want to be beholden to my employer. I want to be able to buck back against something wrong and hold my head high.
@olamarvin
@olamarvin 3 жыл бұрын
Find Income, Retire Eventually. 🔥
@gregorysmith7142
@gregorysmith7142 2 жыл бұрын
One of the biggest considerations I do not see taken into account when talking about FIRE is health insurance costs.
@giovannip8600
@giovannip8600 3 жыл бұрын
set your goals higher because when shooting an arrow over a long distance it won't fall at the same height as it initially was
@RandomJane104
@RandomJane104 Жыл бұрын
I just want to work part-time once I hit 60 and have flexibility to travel a bit more. Full retirement at 67 is BS. I want to enjoy some downtime still in good health. I'm 49 now and with good planning and a decent eventual inheritance (only child) hopefully I can make that meager dream come true. My condo is paid off now, so that will help.
@asherscott3151
@asherscott3151 10 ай бұрын
I got into tech and started making 6 figures at 24 and saving extremely aggressively in addition to getting very lucky on a mortgage. I'll be able to retire a little early, but by 30 is just insane.
@onegrapefruitlover
@onegrapefruitlover 3 жыл бұрын
My strategy has been starting several businesses that require low maintenance to keep generating revenue, thus becoming "passive income" sources. The profits from a couple of them go straight into different funds and investments that I've set up and I live off the profits from the rest. Obviously that's not really "retirement" but I only work part-time and only a few days a week, the rest of the work needed to keep those businesses going is subcontracted or outsourced.
@SL4VESL4VE
@SL4VESL4VE 3 жыл бұрын
10:22 My boys in for a world of hurt once he pursues that "casual" chefs position 🥴
@fdm2155
@fdm2155 3 жыл бұрын
I think FIRE only works for people who have significant incomes. That said, many of the principles are incredibly useful. Cutting spending, maximizing savings, and long term investment can benefit any income level.
@richardshipe4576
@richardshipe4576 Жыл бұрын
Im pursuing it even though it is likely a pipe dream. It's one of those goals that is better to pursue and fail than to not pursue at all.
@TL-rp8yn
@TL-rp8yn Жыл бұрын
I was heavily interested in “retiring early” pre-pandemic. I was saving and investing a ton of my disposable income. After so many people died or became disabled from the pandemic, I’ve adopted to live in the present because the future isn’t promised to anyone no matter how healthy and young you are. I still save for retirement with the plan of doing so before my 60’s, but not as aggressively.
@zekevfab
@zekevfab 3 жыл бұрын
Important to remember health costs / insurance not sponsored by employer anymore
@alexandrelopes1420
@alexandrelopes1420 3 жыл бұрын
Come to Europe and forget about heath insurance costs :D
@zekevfab
@zekevfab 3 жыл бұрын
@@alexandrelopes1420 Indeed 😄
@zekevfab
@zekevfab 3 жыл бұрын
@Luís Andrade the 3% or 4% rule makes the assumption that your investments are compounding already. The risk is if they are not compounding as much as expected (crisis early on for instance), then you risk seeing your capital contract.
@zekevfab
@zekevfab 3 жыл бұрын
@Luís Andrade I think that could work indeed, it requires $1.43M to generate $50K annually. One has to make sure the risk of the portfolio are well managed too, I think it would be good to have a buffer to allow for first few bad years and then target high grade investments with yields well above the target withdrawal rate. What do you think?
@alexandrelopes1420
@alexandrelopes1420 3 жыл бұрын
@Luís Andrade I'm portuguese, I'm working in Germany, saving about 50% of my salary. I calculate than in 20 years I will be able FIRE. My plan is to move back to Portugal where I was born and the cost of living is significantly lower (like many americans are doing when moving there). Health costs in Portugal for someone that is Portuguese and in most permanent residence visas are free, at most you may need to pay some contribution when buying medicine or going to the doctor but it's a small fraction of the cost (less then 10%) and all this prices are regulated carefully by the government which doesn't allow for stupid high prices like in america where you choose to go bankrupt or to die. Plus at any time in my life if I lose my job I get 1 or 2 years of unemployment money until I find a new job, of a value between 60 to 80% my current salary. If I achieve financial independence in 20 years I'll be 46 and I can live of the 4% rule confortably even if I only get 15 tousand € a year, especially if I have a paid house, which I'm planning to buy by the end of next year, and pay it during these 20 years while renting it for at least 80% the monthly value of the credit. Cherry on the top of the cake? When I get to 67, the countries I worked in, (Portugal and Germany) will pay me a pension considering the amount of time I worked there which should amount to a value just above 1000€ considering I won't work all my life in any of those countries. Also, I'm contributuing to 2 private retirement plans (similar to 401k and Roth IRA, but with less benefits), available in Germany that can only be withdrawn with full compensation at 67, which should pay about another 1000€ montly. So I would say it is very possible to FIRE in Europe.
@JhamEntertainment
@JhamEntertainment 21 күн бұрын
FIRE seems to be based more on hating work than loving retirement. Which is a very grim perspective on life. Obviously I can sympathize with not loving every job, but it doesn’t have to be absolutely hell. In fact, if you find a job you enjoy, you might have a good chance ending up more well-off than these people hell bent on tapping out as soon as possible.
@uswilkibr
@uswilkibr 2 жыл бұрын
House hacking can help greatly. Moving abroad to a cheaper country can also make FIRE more doable. You can live comfortably on $1k/month in some countries. I am considering whether to work a part time job and stay in the US, or just move abroad and hope the income lasts until I can access my retirement funds. I'm tired of working for peanuts, living paycheck to paycheck when I could move, start enjoying life without having to worry about working thanks to covered call ETF's. $200k could be enough to easily generate 1-2k/month although you may have to reinvest some since price appreciation is compromised with these funds. Plus taxes will take out some (10 -12% fed + state taxes), I am planning to get residency in a state with no state taxes before I move abroad. You can follow your dreams, but it takes research, work, and patience!
@BadBrucey
@BadBrucey 2 жыл бұрын
I plan on living till I'm 200. Unfortunately I'll probably have to work till I'm 195 before I can afford to retire.
@Ever23last
@Ever23last 2 жыл бұрын
Alot of FIRE followers use QYLD or RYLD with its 10% monthly dividend payment. Or any high yielding dividend stock. That way you only need $300,000 to retire to get $30,000 a year, but the stocks are more risky, QYLD is going down in share price while RYLD is going up. But everything in life takes risks.
@flammmenspeeryt9184
@flammmenspeeryt9184 2 жыл бұрын
I do think those are too risky. In the next bear market they are gonna go waaay down. Maybe to 0.
@Hyperion9700
@Hyperion9700 8 ай бұрын
I love your backgrounds firstly. Second video I've watched and it's so simple and effective ! Also even if you magically retired at 35. What do you do with your time daily until 85 ? Seems quite boring.
@letdownbaloon
@letdownbaloon 3 жыл бұрын
div stocks are probably the safety bet when investing. You'll only be burned if you're venturing away from the safe picks for higher yields. NEVER sell in a dip - just buy more and you're set.
@mattfoley9168
@mattfoley9168 2 жыл бұрын
I love all of your videos!!! With that being said, are you going to do more of the cartoon 5 min videos, regardeless of what you do I'm completly watching all of them, keep up the great work. Your killing it!
@MrRocketDad
@MrRocketDad Жыл бұрын
FIRE strats are also useful for middle-aged folks that haven't been able to save for whatever reason until recently-
@angelicaarteaga9311
@angelicaarteaga9311 Жыл бұрын
I feel like fire is a byproduct of hustle culture, work so hard you burnout. You’ve sprinted the whole marathon. I’m 26 and would I love to retire ?OF course! The mindset has helped me be more serious with my money but my timeline looks more like 60 is going to be my retirement age
@joelstatosky1817
@joelstatosky1817 3 жыл бұрын
When it comes to early retirement I was never in the category where I would consider doing it in my 20's or 30's (I'm currently 16). Personally, I actually like working hard and honestly want to do so as long as I can. I wouldn't retire even if I could. If I do eventually want to retire it would be more realistic for me to do it in my mid 40's to mid 50's. This entire retiring at 30 thing seems pretty unrealistic, and honestly most people wont do it even if they can.
@youtubename7819
@youtubename7819 Жыл бұрын
Please put this comment in your scrapbook so you can laugh at it when you are thirty :) This is not a mean comment. Seriously, you are going to find this comment hilarious after you’ve been “adulting” for awhile.
@ChristopherDonnerArtist
@ChristopherDonnerArtist 9 ай бұрын
I know numerous people who've done it . You have to make a high income for it to work . If you're making 200 - 250k you can put 100k away easy each year.
@Jakkaribik1
@Jakkaribik1 3 ай бұрын
In Us it seems you need to Put $5K away per month most people in EUROPE do not get even the €3K mark per month so they are messed up if they want to come to america in retirement.. All in all get a lucky High Paying Job or Travel to better Locations (Sure America has a higher cost of Living but you get more money to use)
@intiserkabir6848
@intiserkabir6848 Жыл бұрын
Fire is more of a pipe dream. The idea of retiring early is turning more and more of a dream rather than a reality. It even shows at my workplace, the boomers that were retiring are coming back months later as contractors.
@modernsoccer1860
@modernsoccer1860 8 ай бұрын
I'm in my mid 30's and just started saving, buying etfs and by calculations, i should be able to retire by age 47, even then, i plan to work on my own terms. Shorter hours etc, until 50 and call it done ✔️ for good
@DillyDallyDeeleeDallee
@DillyDallyDeeleeDallee 3 жыл бұрын
It also depends where you live. CA/NY vs Montana/Texas etc.
@brandon-22
@brandon-22 3 жыл бұрын
I'm living on welfare programs here in EU pretty much enjoying very early retirement from job market
@Bluemansonic
@Bluemansonic 5 ай бұрын
I'm 30 and making the most money for the least amount of work, by working a job I like... But now the wages are stagnating and it's getting harder to pay rent
@cynicalskeptic4517
@cynicalskeptic4517 3 жыл бұрын
Early retirement is very possible it’s just not taught in school because simply, it would break the worlds model entire model
@singularity7968
@singularity7968 Жыл бұрын
39 and my fiance and I can retire tomorrow if we want. Our investments cover our living expenses and then some using only cash flow from real estate and not even touching stock investments. It’s possible, but you’re going to have to work hard and make good decisions.
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