The FIRE (Financial Independence, Retire Early) movement is getting a great deal of attention on the financial channels and social media. This movement suggests if you can save the vast majority of the money you make early in your life and invest it aggressively, then you can retire after only working 10 to 15 years! Financial professionals Joe Anderson and Alan Clopine go over the basic strategies of FIRE to see if it is just a fad or something that can work for you to reach your retirement goals.
Important Points:
(01:05) – Motivations for the FIRE Movement
(01:56) – FIRE: Financial Independence or Fad
- How To Fan The FIRE
- Does It Add Up?
- Determine if It is Right For You
- Make FIRE Concepts Work For You
(03:15) – FIRE Movement Basic Strategies
(04:46) – The Mathematics of the FIRE Movement
(05:27) – Years to Financial Independence
(8:52) – Basic Pillars of the Fire Movement
(12:01) – Levels of the FIRE Movement
(12:40) – Risks and Pitfalls with Retiring Early
(14:52) – The Lost Decade
(18:00) – How We Can All Benefit From FIRE
(19:33) – Ask the Experts
(23:39) – Pure Takeaway: FIRE: Financial Independence or Fad
- FIRE Isn’t Right For Everyone
- But We Can All Benefit from the Concepts
- Spend Less, Make More, Save More & Invest
- Successful Strategies Focus On More Than Money
