Have you ever talked to colleagues, friends or relatives about FIRE and got responses like “it’s impossible” or “…but I like my job!”? Then go read this great article over at Monkwealth.
Ok, the post title is a bit cheeky I think, but I also think that you should think about these points if you’re on the way to FI.
Is it possible to stop working for money, i.e. retire early because you are financial independent, by the age of 40? Is this only a plan for IT guys who earn 80k+ salaries or can this dream come true if you earn an average salary of 40k per year? Would it still possible if you had kids? Or a student debt you had to pay down before you can really start investing? How would a side hustle impact your journey…
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.
Katrin FIREd a couple of years ago. She shares her learnings on her way to FIRE.
The CashflowCop has done the maths for several scenarios: student debt or no student debt, higher or lower income, being in couple or not, having kids or not… When will Adam in the UK and Amy in the US reach Financial Independence?
Podcast: Enjoying the road to FI | Michael from Playing with FIRE| by FI Europe Podcast | Michael didn’t enjoy his full time web developer job any more. So he went part time and started side husteling. Enjoying the journey to FI instead of focusing too much on the goal is the name of the game, as he is currently living a semi-retirement. This allows Michael to focus on his family (he has three kids) and passions. Another topic of…