What is F.I.R.E?
F.I.R.E. is an acronym for Financial Independence Retire Early. There is a community of people practicing the FIRE principles and retiring usually around 10 years. The formula is a high savings rates (50-70% of their incomes) + frugal living (minimalism) + low-cost stock index fund investing to reach financial independence within a short time period. While not all F.I.R.E. members embrace traditional retirement, the milestone for having reached FI (Financial Independence) is the moment when the money a person earns from your investments will pay for their expenses. When a person reaches that milestone, they can choose to work or not work and decide how they want to spend their time for the rest of their life.
My favorite F.I.R.E. sites
Here are my favorite resources to learn about the F.I.R.E. principles ...
- Rich Dad Poor Dad (Assets vs Liabilities): https://www.youtube.com/results?search_query=rich+dad+poor+dad+summary
- Cashflow Quadrant (Time for Money?): https://www.youtube.com/results?search_query=cashflow+quadrant+summary
- The Mad Fientist (FI Calculators and research): https://www.madfientist.com/resources/
- FIRE Starters Videos (Life of a F.I.R.E. starter): https://www.youtube.com/playlist?list=PL_a94DOaytb06h2C_w0vAwsptyqS3z2Xe
- Our Rich Journey (Life of a F.I.R.E. millionaire): https://www.youtube.com/channel/UChObmEJP3bgGUXJGc2ePP3Q
- The Graham Stephan Show (Life of a F.I.R.E. millionaire): https://www.youtube.com/channel/UCa-ckhlKL98F8YXKQ-BALiw
- ALUX (Inspirational Ideas): https://www.alux.com/
- Super Roth IRA (Save $55K/year tax-free): https://www.atxadvisors.com/accountable-update/2018/2/23/how-to-turn-your-401k-into-a-super-roth-ira
- Super Roth IRA (Save $55K/year tax-free): https://www.kiplinger.com/article/retirement/T046-C032-S015-how-to-super-fund-a-roth-ira.html
