Barista FIRE Is The Best Way To Retire Early (Seriously!)

[@OnCashFlow]

Check out my other video about my experience for my 1st year of early retirement! kzbin.info/www/bejne/fmXbY3aoesl6iLc

[@Getcho33]

Yesss. I'm after barista fire ^_^ lets me spend more during my young years. Also I don't see myself not working ..... Im not a workaholic but moving your bones at 50 and 60 is key to a long life instead of sitting on your butt.

[@OnCashFlow]

I really like Barista FIRE as well! It's amazing how much time you REALLY gain going from say, 50 hours per week down to 20!

[@casualviewer8189]

I guess I’m technically already there. My portfolio generates around $1500 a month already and I didn’t like my engineering job so now I’m delivering pizzas and making like $150-$300 a night

[@OnCashFlow]

Oh wow, big difference! The great thing about Barista FIRE is that since you need far less income from work, you have a lot more options and flexibility to find work that is more meaningful, fun, rewarding, or whatever you want it to be! :)

[@lucas1110]

Amazing!

[@MurangShaBu_MahalNaBiGas]

Damn! That's a solid one, try uber weekends

[@LifeAs_Kiki]

This was the best explanation. I’m headed towards Barista fire 💕

[@OnCashFlow]

Thank you very much for the positive feedback! I really do appreciate it! I wish you the best on your Barista FIRE Journey!

[@jd1283]

Watching BaristaFIRE videos because I'm nervous and excited to BaristaFI in a couple months. Thanks for the great content and hope it gets pushed out to more people to encourage them to FIRE.

[@OnCashFlow]

Thank you! and Congratulations! What kind of work are you going to transition to?

[@zachnunya8749]

How’s it going so far?

[@nickbenson7166]

Glad I'm finding your channel early. Keep it up!

[@OnCashFlow]

I'm glad that you found it too! I really appreciate the positive feedback! 😀

[@inea-fijourney22]

This is my goal! I plan to get enough assets to withdraw $2,000 a month (using 4% rule)... And supplement my income with my own business. Im an accountant and would like to just get a couple of clients to do their books virtually.

[@OnCashFlow]

That sounds like an amazing plan, the accounting profession is one of the perfect professions for doing so. You probably have some close clients, and accountants are always in need. You could easily start your own business, make your own hours, and still actually get paid pretty well for what you do. I wish you the best of luck with your financial independence goal!

[@inea-fijourney22]

@@OnCashFlow thank you and yes! My plan is to get started in 2021. Goal for 2021 is to get my first 3 clients to supplement my full time income, help liquidate this debt and keep building wealth to reach Barista FIRE as earlier as possible.

[@OnCashFlow]

@@inea-fijourney22 Sounds like a great plan! I wish you the best!

[@jacobg1068]

Love this idea lol. Currently 23 years old and want to make this my goal!

[@OnCashFlow]

You can definitely achieve this in a very short time! I'm counting on you! :)

[@TradingWithCJ]

This was interesting man! Barista fire? Never really thought about it tbh haha

[@OnCashFlow]

Haha, you've never heard of barista fire? It's pretty popular. I have an older video explaining the concept and much more detail. I really do think it's a good way for many people to transform their life in a short amount of time if that's the path they want to take.

[@anniesshenanigans3815]

this would also work if you are older and have a small 401k, debt free and willing to be a minimalist.

[@OnCashFlow]

For sure, Barista FIRE can work for any age!

[@TedPatrickBaird]

Sensational video. You are very articulate.

[@OnCashFlow]

Thank you very much for the positive feedback! I really do appreciate it!

[@mike330i]

I think reason #5 (socialization) is a really point. It gets lonely after a while on F.I.R.E. While we get the freedom, we lose the interaction and connection with people.

[@OnCashFlow]

So true, this has been the biggest struggle for me personally as I have been living the "FI life". I don't have a workplace right now for social interaction. We as FI people have to try harder to find other means to fulfil socialization. Pretty funny because my newest video literally just covered this topic lol.

[@BCV2023]

Great video sir! I never thought about F.I in this way 🤔. This gave something new to look into. If I may ask, what software or website did you use for statistical analysis?

[@OnCashFlow]

Thank you! In this video I believe I used a simple compound interest calculator, and probably FIRE Calc.

[@befree9579]

From my current trip in Kenya it showed me a lot. Most people here work 6 to 7 days a week. Just to provide for themself, no overweight or depressed mentall ilness around like in Uk. Made me realise to stick with Barista fire. My current rental income makes me $500 a month. Will need to work for my $1400 expenses for 6 months. The 3 months i take off will paid for by the rental income. Rinse n repeat.

[@OnCashFlow]

Wow that sounds like a huge mental wake up call!

[@jaylenlenear3944]

I plan on doing this with a trade so that I potentially can work even less than part time sometimes

[@OnCashFlow]

I think that's a great idea, especially because you could do it as your own business!

[@MurangShaBu_MahalNaBiGas]

I agree I can't do full-time retirement, barista fire is gonna be my go to.

[@OnCashFlow]

"full time retirement" is a funny way to put it haha

[@nielsvandenkieboom5034]

Is it me or are them some audio issues? I am using headphones and only hear your voice in my left ear.

[@OnCashFlow]

I'm really sorry about this. It turns out that for some reason my microphone recorded quiet on one audio channel. I have since figured out that in my video editing software I have to add both audio recordings to the same channel. I apologize, I know how annoying this issue can be.

[@nielsvandenkieboom5034]

@@OnCashFlow No problem at all! I just turned off my headphone and watched it on speaker. Easy fix.

[@lucas1110]

Ik want to be barista fire so bad. If i payed my mothgage im have a nice life because parttime work give me tax benefits. Plus I dont want to stop working forever. 20hours per week is awesome

[@OnCashFlow]

Yeah I think Barista FI can be a great life! It can also mean working seasonally instead of part time every week!

[@lucas1110]

@@OnCashFlow i think It can also mean living abroad with low spending power. If you payed you mortgage for example in a rich country and you move to a poor country I think the rentals can do a lot ;)

[@jaylenlenear3944]

Props to having tags in your video. Whats your cashapp ?

[@OnCashFlow]

I'm Glad they were helpful! My cash app is $zacharysmithr but I would be honored if you supported me through Patreon via OnCashFlow.com/join

[@funwithrandom360]

I enjoyed and liked your video. I also really wanted to subscribe but my right ear stopped me. 😝

[@OnCashFlow]

Sorry about that! My old microphone had an issue that I didn't realize because I would edit videos on my Laptop and not notice the audio channels were off. I have since then gotten a much better and more expensive microphone! I hope you will still subscribe and try out the new microphone! :)

[@JosephDickson]

There is a risk to Barista FIRE that I fear some may not give enough consideration... What if a person can't work for any reason after planning to work part time. How would they deal with the lack of a fully funded retirement?

[@OnCashFlow]

There is risk in everything in life. What if a person can't work for any reason after planning to work full time? I would imagine the same way they would with a part time job? Do you know what I mean? Everything we do in life has risks, but we shouldn't take unnecessary risk or risks that we aren't willing to face when the worst were to happen.

[@JosephDickson]

@@OnCashFlow it's a terrible analogy but I can't shake that retirement montage in the film Looper. 🤣

[@OnCashFlow]

@@JosephDickson Wait do you mean the actual movie "Looper"? If so I haven't seen it and so I am not in on the joke :(

[@JosephDickson]

@@OnCashFlow yes, there's a 2 minute montage. Basically the protagonist holds his retirement in all cash and blows it over 8 years.

[@OnCashFlow]

@@JosephDickson ohhh sounds like something I gotta see lol. 8 years is longer than most lottery winners!

[@siowjianru]

Good content, but i think you should improve ur mic bro

[@OnCashFlow]

Thank you! I have since bought a Rode Vid Mic Pro for all of my newer videos, please check them out and let me know if it is better! I appreciate the feedback! :)

[@andreferrer9350]

My left ear really loved your video

[@OnCashFlow]

I'm sorry! my old microphone did that for some reason and I never caught it because I edit on my Laptop through the speakers.

[@snow40741]

I have no debt...between retirement accounts and my paid off condo I have over 1 mil...I am under 59 1/2...how do pull 4% from these accounts to live a barista fi life?

[@OnCashFlow]

Roth IRA Ladder or 72(t) rule are good options: Roth IRA Ladder: kzbin.info/www/bejne/iXzWk6l_ncd6ldk 72t: kzbin.info/www/bejne/omWniYZ7odNkgac

[@simpsimps553]

Good youtuber

[@OnCashFlow]

Thank you! I appreciate the kind words!

[@theropesofrenovation9352]

I agree!!!!!

[@OnCashFlow]

Awesome!

[@jairosambula3707]

I only get $230 per month but my dream is to get $3000 per month, but I am my to achieving my goals!

[@OnCashFlow]

You can do it!

[@livingunashamed4869]

Coast FI is better. Even less time to achieve and you can let your investments coast. Use that money you were investing however you want. You could work less, spend more, invest more, give more. Its the best FIRE by far.

[@OnCashFlow]

Coast FI is cool too, you could do a combination of Coast and Barista FIRE. A lot of people don't want to wait so long to take advantage of the FI lifestyle that Coast FIRE usually takes though.

[@livingunashamed4869]

@@OnCashFlow Idk with the freed up cash flow it makes it seems like you're financial free already :). Example say you're investing 1k a month on a 3k a month income until you reach Coast FI. After that you have 1k to a month extra and you're set at retirement age. So you could reduce your hrs or go part time sorta like Barista fire but the best thing is knowing you will have a nice nest egg at retirement. Idk just seems awesome to me. They are similar in a way though.

[@OnCashFlow]

@@livingunashamed4869 in the end, whatever makes our lives better is the best decision! Coast FIRE is also something that you could do if you want to pursue entrepreneurship and knowing in the back of your head that you have a good nest egg is great!

[@framed9240]

good video. poor audio thi :/

[@OnCashFlow]

I'm really sorry about the audio! I have since then upgraded to a much better microphone. I really hope you will watch some of my newer videos and find them helpful :)

[@framed9240]

@@OnCashFlow dont worry bro video still lit! was just a bit mad cause i thought my airpods where dead on one side :D took me 10 min to figure it out

[@OnCashFlow]

@@framed9240 For some reason my old microphone only played on one audio channel (for headphones) eventually I figured it out after a comment similar to yours and I had to edit the audio channels each time, it was pretty annoying! But I'm glad the video was helpful! :)