A few thoughts for you as a client/friend tells me life is good. Life hasn’t changed too much in retirement during the pandemic, he tells me. He laughed and commented that according to Clint Eastwood, you know you didn’t have much of a social life if the pandemic didn’t change it much. You read Amazon will stream NFL games. Yippee. What happens when your internet gets overloaded, and you miss the game-winning TD? Cash is king? Not buying it? Good. When was the last time the government created anything of value? I like high-quality short-term bonds mixed in with some high yield junk … [Read more...]
F.I.R.E. Financial Indepdence, Retire Early
Are you familiar with the FIRE movement? You should be, and you will be shortly. And I’m not talking about a fire where, for example, a tree falls in your backyard onto power lines, ripping them down along with a transformer and nearly burning down your house on a quiet afternoon in Newport, RI. (You can read about that here).
The FIRE I’m talking about stands for—Financial Independence, Retire Early—and it’s a big-time movement especially with Millennials. Because more and more of them, are disillusioned with a life working for “the man” and not “working” enough, i.e.: saving, for themselves.
The FIRE men and women I’m talking about seek a reset from the pressure of two car payments, a mortgage, private pre-school, private primary and secondary school, never mind college. And other smaller expenses like occasional dinners out, etc. that put “pressure” on one’s peace of mind.
Read more about FIRE below:
You Can Be a F.I.R.E. Starter
I want you to visit my series on FIRE, Financial Independence, Retire Early, here: Living Your Best Life: FIRE!: Are you familiar with the FIRE movement? You should be, and you will be shortly. And I’m not talking about a fire where, for example, a tree falls in your backyard onto power lines, ripping them down along with a transformer and nearly burning down your house on a quiet afternoon in Newport, RI. “Dad, You’re Stressing Me Out” FIRE! (Part II): Living a lifestyle where you spend 50% less than your “normal” spending doesn’t sound like much fun. But that’s exactly what many … [Read more...]
Fire Yourself Up: Financial Independence Retire Early
Are you familiar with the cool movement called FIRE or Financial Independence Retire Early? As the word Early implies, it’s taken hold of a younger section of savers looking to get out of the rat race. They’re looking for their island life, if you will, and it’s a lifestyle I support a thousand percent. For one, once you start thinking about living off your savings, you become serious about SAVING—a huge part of the process. But you also think twice about SPENDING and the benefit of deferred gratification you’ll FEEL. This pandemic put FIRE strategies to the test—especially during the market … [Read more...]
The FIRE Movement by the Numbers
The financial industry is full of anecdotes and stories by writers (myself included) providing their own perspective on events. The FIRE (financial independence, retire early) movement is blessed with many blogs and podcasts discussing the early retirement journeys. But anecdotes never tell the whole story, so I want to give you some numbers on the FIRE movement. These numbers were assembled by a Harris Poll conducted for TD Ameritrade. How Many People Are Aware of the FIRE Movement? 11% Know about FIRE 26% Are familiar with the concept but not the term 63% Are not familiar with … [Read more...]
A Scorched Earth Investment Landscape: FIRE! (Part V)
“Never forget what I’m telling you here” -Dick Young When it comes to living off a portfolio for a lifetime, the word lifetime can mean different stretches of time for different investors. As you read in parts I, II, III and IV, I’ve been studying the FIRE movement—Financial Independence, Retire Early—to help teach the next generation how to think about money, and to help you think about your retirement. Like I have said, if this group is retiring in their 30s, and living off their retirement savings for the rest of their lives, then we should be able to pick up some intelligence. Which … [Read more...]
Will You Outlive Your Money? FIRE! (Part IV)
In parts, I, II, and III you learned about those who have embraced the FIRE lifestyle—Financial Independence, Retire Early—and the ways it can help you in your own life. One of the things I think you and I will learn from this movement is if it’s truly feasible to live off a portfolio for 60-plus years—a necessity when retiring in one’s early 30s. But this is not your typical set-it-and-forget-it retirement demographic. Self-reliance is a way of life for the FIRE movement. Yes, they are casting off the lines and heading out to the sea of financial independence with a portfolio that … [Read more...]
“I wish that I could give you something… but I have nothing left” FIRE! (Part III)
As you read in my FIRE series parts I and II, the acronym stands for Financial Independence, Retire Early and is as much a mindset as it is a financial plan. Think about what you spend the most money on and you’ll quickly realize some of it can be reduced but a lot of it cannot when you’re in retirement. Chances are you’re out of debt. You’ve saved until it hurt and now you should be living the retirement you deserve. You’ve won the war. But there’s one thing I need to talk to you about. I talk to a lot of investors during any given week which provides me with a front row seat to … [Read more...]
“Dad, You’re Stressing Me Out” FIRE! (Part II)
Living a lifestyle where you spend 50% less than your “normal” spending doesn’t sound like much fun. But that’s exactly what many members of the FIRE movement are doing. FIRE standing for Financial Independence, Retire Early. I’ve been studying this movement big-time, because there’s a lot for you and me to learn by understanding what others are doing. This is not some hypothetical model of how you’ll live your life off your investments. This is real. It’s a lifestyle. When I brought up living a FIRE-centered life to my daughter she said, “Dad please stop with the FIRE, you’re stressing me … [Read more...]
Survive and Thrive July: FIRE! Financial Independence, Retire Early
Living Your Best Life Dear Survivor, Are you familiar with the FIRE movement? You should be, and you will be shortly. And I’m not talking about a fire where, for example, a tree falls in your backyard onto power lines, ripping them down along with a transformer and nearly burning down your house on a quiet afternoon in Newport, RI. (You can read about that here). The FIRE I’m talking about stands for—Financial Independence, Retire Early—and it’s a big-time movement especially with Millennials. Because more and more of them, are disillusioned with a life working for “the man” and not … [Read more...]
Living Your Best Life: FIRE! (Part I)
Are you familiar with the FIRE movement? You should be, and you will be shortly. And I’m not talking about a fire where, for example, a tree falls in your backyard onto power lines, ripping them down along with a transformer and nearly burning down your house on a quiet afternoon in Newport, RI. (You can read about that here). The FIRE I’m talking about stands for—Financial Independence, Retire Early—and it’s a big-time movement especially with Millennials. Because more and more of them, are disillusioned with a life working for “the man” and not “working” enough, i.e.: saving, for … [Read more...]