Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

  • Home
  • Your Survival
    • EMP Threat
    • Tucker Explains
    • Newport Gas Outage
    • Water
      • Emergency Water Storage
      • Let There Be Water
    • Get Your Gun and Your Training Now
    • Satellite Phones
    • Navy SEAL Survival Kit
  • Your Money
    • Coronavirus Infects Stock Market
    • Looking for a Better America
    • You Invest, They Win
    • Where to Keep Your Cash
    • Paris
    • How to Buy a Boat
    • Dead or Alive? The Future of Long-Term Investing
    • Is Vanguard too Big?
    • Cryptocosm and Life After Google
    • The Last Intelligence Report
    • The Truth Behind the S&P 500
    • RAGE Gauge
    • How Many “Retirees” Will Keep Working?
    • Your Retirement Life
    • You’ll Love This if You’re Dreaming of an Active Retirement Life
  • Weapons
    • Self Defense
    • Every Family Should Own at Least One Shotgun: Here Are Three
  • About Me
    • Preparing for Times Like These
    • My Videos/Pics
    • Music
      • RIP Neil Peart: You Will Always Be Remembered as a “Modern-Day Warrior”
  • You
    • Our Cabin on Kodiak, Alaska
    • If You Are in Pain, this May Help. It Helped Me.
    • How to Save for a Grandchild
    • FIRE! Financial Independence, Retire Early
    • Compound Interest
    • Arithmetic of Portfolio Losses
    • Maximum Portfolio Withdrawal Rate
    • An Efficient Frontier
    • Retirement Compounders
    • Counterbalanced Total Returns
  • Survive & Thrive
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018
    • April 2018
    • March 2018
    • February 2018
    • Welcome

Fire Yourself Up: Financial Independence Retire Early

December 16, 2020 By E.J. Smith - Your Survival Guy

By sonofpromise @ Shutterstock.com

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 crack in March. The hit suffered by index funds took a toll on those inexperienced in how difficult it is to be a long-term investor.

I love the idea of working for yourself and not paying for an education you can get on your own. The idea of a college education is going through its own realignment as we speak. Members of the FIRE group much prefer paying themselves rather than some fancy four-year tuition bill. That doesn’t mean they don’t get a college education. To the contrary, they do it on their terms.

If you’re thinking about retirement, you’ll benefit from the FIRE mindset. I was speaking with a client this week who told me he’s cutting back on some work responsibilities but is still in the game. It’s a way for him to adjust his working life to how he wants to live today—less travel and more time with family.

Getting back to the market crack in March. As you get closer to achieving your FIRE dream, you need to consider ways to keep your money safe. If you thought about selling in March or actually did sell, then a more balanced approach might be more suitable.

Action Line: What’s clear is the FIRE movement is alive and well. Doing more with less is something we can all get behind. Stick with me, and I’ll remind you how creative you really are. Click here to sign up for my Survive & Thrive newsletter for a monthly boost to your creativity.

The following two tabs change content below.
  • Bio
  • Latest Posts
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
My Twitter profileMy Facebook profileMy Instagram profile

Latest posts by E.J. Smith - Your Survival Guy (see all)

  • Crushing Words to Avoid: “We’re Disappointed in You” - April 15, 2021
  • Don’t Miss the Boat: Meet Your Money Stewards - April 15, 2021
  • Why Service Is King in 1(800)# Teenage Wasteland - April 14, 2021
  • Woke Corporate Boardrooms Weaponizing Social Justice - April 14, 2021
  • RECONSTRUCTION: The Confiscation of All His Property - April 13, 2021

If you enjoyed this post, email it to a friend:

  • Email
  • Print
  • Facebook
  • LinkedIn
  • Twitter
  • WhatsApp

Related Posts

Trending

  • Be Dangerous: Biden’s Progressive Puppeteers’ E.O. Gun Grab
  • Biden Tax Hikes: I’m Here to Help, But Only if You’re Serious
  • One Word Explains the Worth of Your Neighbors’ House
  • Constitutional Carry: Another State Chooses Second Amendment Freedom
  • April RAGE Gauge: Are Your Bond Funds Dead or Alive?
  • You Need To Be Dangerous: Democrats Want You Harmless
  • Your Survival Guy Stock: Witness This Dividend Miracle
  • It’s as Simple as 4%? No, Not Anymore
  • You're Telling Me Friends Ask You This Question
  • Why Your Life Before COVID Isn’t Coming Back

YOUR SURVIVAL GUY MUST READS

  • Business Isn’t the Enemy, It’s the Answer
  • Why Vanguard is too Big: Part VII: What Do You Have to Lose? A LOT
  • Right to Work South Carolina Attracts Massive Investment from Walmart
  • Is Your “Wealth” Manager Lending out Your Cash and Charging You 2%?
  • Obsessed Sen. Sheldon Whitehouse (RI) Embarrasses His State
  • Biden Town Hall: Stay in the Ring Joe
  • Every Family Should Own at Least One Shotgun: Here Are Three
  • Red State Cities Booming as People Look for a Better America
  • Richard Young Reports: 50+ Years with Fidelity and Wellington
  • Rich Man, Poor Man and the Greatest Generation
Only if You’re Serious
See Who's Missing the Boat
Pandemic Creates Virtual Panopticon
Emergency Water Storage
Find Freedom in America
Second Amendment
Smith Family Robinson
Great Reset
Financial Independence, Retire Early
Richard  Young Reports
How You Can Save Money for Your Grandchild
Why Fidelity is Number One
The Best States for Survival
You Invest, They Win
Escape the City
Why Vanguard is Too Big for YOU
Money 101
Island Life

Copyright © 2021 | Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.