This episode is all about FIRE which stands for Financial Independence Retire Early. This movement came about as an entire generation began to push back against the notion of traditional retirement- working hard in a job you hate so that you can kick back when you’re 65. Thanks, but nah. We have friends who have completely rejected that idea and have retired in their 20s and 30s, but the most important thing to keep in mind is that the pursuit of financial independence doesn’t have to look a specific way. Just like those books we loved in the 90’s you get to choose your own adventure! From leanFIRE to fatFIRE and everything in between, there are a variety of lifestyles we can aspire to. So we’ll talk about the different types of FIRE and then some of the most important tactics to consider on your path to achieving financial independence.
- If you’re looking for a deeper dive into the Pros and Cons of the FIRE Movement…
- Mr. Money Mustache’s 2012 post, the Shockingly Simple Math Behind Early Retirement is a classic and changed how many viewed retirement- including yours truly. If you just want to play around with your own numbers check out the early retirement calculator at Networthify.
- The MadFientist does a great job crunching the numbers and explaining why you should still be investing within a retirement account, even if you’re planning to retire early.
And listen up, regardless of where you are on your own financial journey, implementing the responsible use of credit cards is something we fully believe in. It’s smart to utilize the additional benefits that credit cards offer, though we don’t want you to be tempted into spending more than you otherwise would. But if you’re looking to maximize your credit card benefits, Chase is offering the best welcome offer we have ever seen. The Chase Sapphire Preferred Card is rewarding folks $1,250 after the initial spending requirements of $4,000 over three months!
During this episode we enjoyed a Smells Like Bean Spirit Double Maple by Mikerphone Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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