[Good morning FIRE nerds!!! Got a cool guest post for ya today from Mike who co-hosts the Friends on FIRE podcast. Mike had a unique upbringing as his parents both retired in their early 40s! I think most of us want to achieve FIRE and teach the ways of financial independence to our kids… Well, that’s what happened in Mike’s family, and here’s a chance to hear more from the
Early Retirement
Why Are We Making Early Retirement So Controversial?
[Mornin’ money lovers! I’m excited to share this guest post written by Steve Cummings a.k.a The Frugal Expat. Steve talks about why so many people get their knickers in a knot arguing about FIRE, particularly, the RE part of things. My favorite bit is at the very end where he notes “3 steps to change” -- things we can all do to be more open-minded and progress as a cohesive
401(k) Rollover to IRA: Why Bother?
Hello friends! How are you this fine morning? Have you ever left an employer and accidentally forgotten about your old 401(k) account? Maybe you intended to roll it over to a new retirement plan, but the paperwork felt daunting so you never got around to it ... (About 30% of you should be nodding your heads right now, according to studies.) Then after years of the
Retired at 43: “No Gambling, No Lotteries, No Bitcoin”
Hey, everyone! We got a comment on the million dollar club page a while back that I thought was pretty interesting … so I dug a little deeper and found a cool story to share. Below is the original note, followed by my nosy questions and the replies (with edits for length and clarity). Great tips and information here that might help you on your own path to hitting
How Covid Is Changing Americans’ Retirement Plans
Happy Monday! Who’s ready for kick-ass week? 🙋🏼♀️🙋🏽🙋♂️ I’ve been reading a survey conducted by our friends over at Personal Capital that reveals some interesting info about how covid has affected people’s retirement plans. Some of the results are a little scary (like ~30% of people tapped
Why My FIRE Number Keeps Changing
My wife and I discovered the FIRE movement about three years ago. We’ve always been decent budgeters, savers, etc., but three years ago was when it really clicked for us… “We can retire early!” It all came down to us figuring out our “FI number” and realizing it was reachable in our 40s. Why the 4% Rule for Retirement Doesn’t Always Work Most FIRE enthusiasts follow the 4%
Sequence Of Returns Risk – Why You Should Care
Sequence of returns risk? Sounds like something only old, rich, retired people have to worry about... As long as I save up 25X my annual expenses and hit my FI number, I never have to worry about money ever again, right? Wrong. Sequence of returns risk is the No. 1 risk that can cause early retirees to run out of money. So pay attention my young FIRE friends... this stuff
Bustin’ a Few Myths About the FIRE Movement
For every “movement” where a group of people band together and try to improve their lives, there will always be a handful of nay-sayers trying to discredit the cause. The financial independence FIRE movement has a bunch of these haters. And while some concerns about early retirement might be legitimate, the most common objections I usually hear are myths (or personal limiting
Budgeting for Healthcare in Early Retirement
[Many FIRE walkers (including myself!) underestimate the cost of healthcare in retirement. It could be because we don’t track our costs accurately, don’t monitor our employer contributions, or forget to account for healthcare completely! Guest authors The Dragons on FIRE explain in today’s post the importance of tracking, budgeting, and planning for healthcare, as well as how
Living a Stealth Wealth Lifestyle
A few years ago, I went into my local bank branch to do a wire transfer. I wrote my name on the check-in sheet and helped myself to a free cup of coffee in the waiting area. After a few minutes, a well-groomed young fellow in a suit and tie came over to greet me. As he reached to shake my hand, I noticed his eyes looking me up and down, studying my old t-shirt, dirty jeans,
