I’m a huge fan of the FIRE movement and I’m starting my journey at 20 I just followed your podcast, the movement has completely changed my life trajectory and outlook and I’m extremely grateful for you tubers like you that introduced me to the concept last year, so last year I paid off my 2 maxed out credit cards and invested 1100$ and plan on drastically increasing that amount this year 👍🏾👌🏾
@@P.I.P.E.L.I.N.E_Podcast I would like to suggest you google IRS Savers Credit. It’s like a government match (vs corporations match) to an IRA/401k. Match is 10-50% depending on your income.
The why of FI! Once you have that vision of what is most important to you, it's hard to go back to a "Normal Life". So glad you are sharing these interviews.
Stealth wealth really sums it up so well. Reminds me of the "Millionaire next door". It's not the Porsche SUVs and annual island vacations that represent us. Having kids was like a "why" to the gut big time. Thanks for sharing!
Right there with you brother. Once I had kids I felt like I woke up. My life changed. My wife and I have penny pinched our entire lives together and have dialed it up even more to retire in 10 years. I want to be a good role model for my kids by the time they graduate college and demonstrate that success = happiness, not money. If I had this mindset the minute I started college I'd probably be retired right now, but I don't feel discouraged by that. Hang tough and make it happen.
Great content. Mid 50's. Took me 13 years of 60hr weeks and investing early. I've posted on other vids and it draws all the haters. Our culture is unbelievable. Feel the pain of disciple early or feel the pain of regret later. Be well everyone!
Thank you for the kind words! I’ve never heard it put that way, I love it. “Feel the pain of discipline early or feel the pain of regret later”. Similar to “Hard Choices, Easy Life... Easy Choices, Hard Life”. Love it
Well said! It took FI for me to realize that I am already doing the job, although now part-time and on my own terms, that I enjoy doing! For those of you still on your FI journey, you may already be doing the very occupation that brings you joy. Choosing to work because you love or want it brings such an immense joy that the daily trivialities we get hung up on when we were in the “daily grind” seem to melt away.
I keep waiting to see if there's a FIRE practitioner who is well over the age of 40. The techniques are sound, but the jury is out on long-term success, because nobody has actually taken it fully to fruition - through middle age, raising kids through their teens and into college, enduring decades of marriage, and finally into old age with increased healthcare demands and no social security to augment income ('cause they didn't work and pay taxes enough to qualify). I'm 54 and about to go FI, but I stumbled here without RU-vidrs showing me how. The whole subject is fascinating.
There are plenty of examples out there, maybe not with every specific circumstance, but enough to make a plan around. Check out our recent upload from JL Collins, he’s got 40 years experience. 🔥
Hey 👋 been on the path for about 4 years now. Honestly I am hesitant about how the whole movement will survive a very severe economic downturn. On an individual level, I am far more ready than I when I was paycheck to paycheck. However a lot of the assumptions on economic growth are based on 20th century growth rates and normalized interest rates from the fed. It is my opinion that we are in for some very strange economic times ahead that could include some long periods of economic stagnation/stagflation . Basically much of the fi movement was birthed in an extremely low interest rate world and that possibly contributed to outsized growth stocks wise since the great financial crisis in 08 . Will the average individual be willing to withstand 10-15 years plus of low to no growth? I assume it will be very tough to not fall off the bandwagon. All that being said, I do think that this concept is the best way to think of ones life financially. It is a pretty good prioritization for the masses.
@@reformedchinesecommunist my husband and I (both age 48) have been doing this for 18 years, we hit FI quite a few years ago (well before it was called FI). I think your right that the markets do have ups and downs and could even stagnate for a long period of time, so we have to plan for these things. We keep several hundred thousand in cash so that when this happens we can use it to live on while the markets recover.
Wow you just put words to how I have felt, what I am about and have been quietly working on for the past 15 yrs - I am so glad to have found this community 😊!
Stealth wealth is another word for sea of apathy with various forms of cancel culture within sub root's of trivial practicality. The norms don't fit the digestible syntax of owning your finance vs growing them. Once your labeled as stealth by one or another and can relate to the context or phrases. Make sure discern these three comparable lifestyle and align them differently from your intentions; possibly, yourself. Lastly... are they Nomadic, Hermitic, or arguably living below their means. With that in mind, do not label them apathetic without the context or minable mix of all three trivial forms of decisions. Just saying. Watching this make's me believe people a-test this, like gospel to the interdisciplinary human experience. An Interstice or to most.... A checkpoint in life.
Stealth wealth is the wise path. The envy of the average person on the street (including friends and family) will do almost everything they can to hold you back. Envy is a powerful force.
I get called cheap all the time. Now I live on a Caribbean Island. I'm another guy that never made that much money that figured out how money works and hit FI in 5 years. New Sub
@@TheRetirementality very impressive! Congratulations on your fi. I love Saint John in the Virgin Islands, I definitely would love to retire part time there or around the Caribbean haha
5 years making 50-100k? How did you get FI I'm such a short time? I guess you could save and invest 50%, that only gets you to 250k -+ returns on that short 5 years.
@@Matzes I was able to buy one house every year. Each house makes about a $1000 a month and that covers my expenses. I'm not done yet, but I'm getting close. I want to get to $100K a year in rental income.
I’m a huge fan of the FIRE movement and I’m starting my journey at 20 I just followed your podcast, the movement has completely changed my life trajectory and outlook and I’m extremely grateful for you tubers like you that introduced me to the concept last year, so last year I paid off my 2 maxed out credit cards and invested 1100$ and plan on drastically increasing that amount this year 👍🏾👌🏾
Hating your job or loving your job can change in a flash. Layoffs, promotion, bad supervisor, excellent supervisor, illness, bed rest, etc. Changes are one of the few guarantees in life. FI protects and cushions those challenges.
So true. I find that having financial security changes your relationship with your job. You don't feel as stressed because you know that you could walk out any minute and things would still be OK. Being dependent on your job for survival can make you resentful or fearful, or both.
Reached Fi at 33 6 years ago. So happy to have this community because my family & friends just don’t understand or choose Not to understand. Simple things like getting icecream in Epcot makes me happy as a local. Find your Why, then you’ll reach your Fi. ✨ No Disney magic required ☺️
I dig the message but looking at the messenger him being a PhD pharmacist changes quite a bit. The average person is not that sought after, marketable and employable in the $100k+ range; to say that has zero impact would be foolish. I’m not blaming him but his differences need not be omitted.
@@jeanp.5929 Thats a pretty long story for a comment reply sadly :) But i had lots of help from family, in financial sense, i did learn a lot about markets, forex, stocks, crypto, trading, portfolio management, risk management in around 4 year span. Last year was the greatest for me in terms of returns. I used that black swan event last year in march to really rocket my portfolio. Most of my portfolio brings in the dividends now that i use again in investing and funding a pretty decent low-key life. On top of that my best advice is to reduce expenses and dont buy shit you dont need.
I love what you're doing!! I'm 22 and trying to live FIRE the best I can while attending college. I've listened through the book twice, and I'm just starting to get into the Chose FI podcasts. It's completely changed my paradigm of why I work, and what to live for.
I went to school with a kid in Scarsdale NY. his parents were friends with the Rolling Stones. and they played at his bar mitzvah. this is one of my fondest memories.
This RU-vid channel is exactly what I’ve been wanting to do with my RU-vid channel. We only ever hear about the super successful stories. You don’t need a Million dollars to be a success. I make 110k a year and it was relatively easy to do. I did it in a very unconventional way. There’s a lot of stories out there like mine
I work at school something I always dreamed of when I was young. I’m debt free, mortgage free, 2 years emergency fund, investment making 35k a year. I retired twice but keep coming back to work. Do not believe FIRE can solve all of your problems.To those who trying to run away from work, I’m sorry that you couldn’t find a job that you love.
Perfect! We all need to ask ourselves, FI, now what? I found FI to be the easy part of the journey. Faced with a completely wide open schedule after retirement was good for a few months of leisure which then soured with a sense of emptiness over not contributing to society. Our family and friends were all still working and not free to take trips or hangout on a daily basis. I went back to work part-time, doing what I was doing before, just because I missed it. Definitely think about what you want your post-FI journey to be in as much detail as possible!
I really like my job and I would do it even for no money, but definitely not 5 days a week, 3-4 seems the right number to me at the moment, I will have some sort of FI progression, the more I accumulate the less days I work, never less than 2-3days tho
Choose FI has been a valuable resource in the last couple of years as I got out of debt and now am starting to get on the path to saving for retirement. Thanks for everything!
Great Video. Money gives you freedom. Freedom to do what you want when you want. It’s not too much about buying stuff even though buying nice stuff is fun but I love my freedom and valuable time with my family even more.
👏👏👏👏I love this channel!!! I am so glad that I was drawn to this topic. The video framed my vision very well; and articulated in a way that I hadn’t been able to. Thanks. 🤓
20p for doing the washing up when I was 10years old and working jobs where I got paid low wages and treated badly gave me a natural drive at a young age. I was going to take a different path and learn how money worked so I could use it and squeeze all the living I could out of every penny. I learned my values and spent a lot of time in education to get a job I loved and now it's worth it. I'm aiming for FI but not sure I'll retire when I get there! I'm glad your podcast shows real people achieving their dreams!
