FU mon Chu reveals his FIRE number, withdrawal rate and whether he includes his state pension in his plans.
Did you set any new year’s resolutions or financial goals for 2020? Michael from Foxy Monkey has advice on how to better achieve what you want. Plus a ton of interesting (commented!) links to articles related to FIRE, investing and more.
Kate has her eyes firmly on her goal(s): reaching financial independence in now two years; and living a life she doesn’t need a vacation from. Congrats for the achievements so far and for 3 years of blogging!
“It’s a bad plan that cannot be changed” says an Italian proverb. A young FIRE blogger from Norway had the ambitious plan to retire within 5 years, when he would be 36 years old. He wrote down a detailed plan how to realise this goal. Now, a little over half a year later, the blogger changed his plan. He reduced his FIRE number, i.e. the amount of money he thinks he needs to retire early, and also touched a well-known…
Route 2 FI adapts his plan to retire in his mid-thirties. He takes into account the fact that he will still earn some money when FIREd along with his frugal lifestyle – under 20 000$ annual spending in an expensive country like Norway!
Route2FI shares his learnings with us, they are not only about investing, but also about reading, goals, finding like minded people or embracing his personality.
RadicalFIRE summarizes the famous book by Napoleon Hill, “Think and Grow Rich”, which was published over 70 years ago, but holds some timeless wisdom.
Reaching FIRE takes a lot of determination and perserverance over a long period of time. Go and take a quick test to see if you have the necessary grit for it.
Kate attended FIWE (Financial Independence Week Europe) a couple of weeks ago. She came back home changed, motivated, and has now a couple of regular community related activities that keep her motivation up. Read her enthousiastic review of FIWE and her take aways.