FIRE movement in the media

Discussion in 'Financial Independence, Retire Early (FIRE)' started by Simon Hampel, 6th Sep, 2019.

Join Australia's most dynamic and respected property investment community
  1. Simon Hampel

    Simon Hampel Founder Staff Member

    Joined:
    3rd Jun, 2015
    Posts:
    4,535
    Location:
    Sydney
    Want to retire by 40? This financial movement promises to get you there

    Imagine retiring at 35 or 40. It might sound like a pipedream, but according to a new financial movement, you don't have to be 60 or 70 years old to enjoy the perks of retirement.

    Proponents of Financial Independence Retire Early (FIRE) believe you can retire decades earlier if you adopt a frugal lifestyle, put together plenty of savings and have a keen eye for investment.

    Overall, those following FIRE are focused on one main goal: building investments to a point where they produce enough income to retire or semi-retire from traditional work.

    While the methods of getting there vary, most aim to achieve it by having a savings rate of 50 per cent or more and putting that money to work in investments โ€” primarily low-cost index funds (which track part of a stock market index, such as the ASX200 rather than stock picking) or property.

    As part of the ABC's personal finance project, we've spoken to people from the FIRE movement about how they planned to semi-retire so early in life.

    ... read more
     
    Anne11, Bunbury, Lindsay_W and 2 others like this.
  2. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    4,091
    Location:
    7000 infinity..
    Quote..
    Many in the FIRE movement count hiking and more time in nature as a motivating factor to retire early.

    Thanks for the link..
     
  3. MWI

    MWI Well-Known Member

    Joined:
    17th Jul, 2017
    Posts:
    970
    Location:
    Lower North Sydney NSW
    I agree the frugality, saving and investing are some of the key points in retiring early, we should not be defined just by age, or economic circumstances, why, if we can be self-sustaining in our lives.
    I find that most people FIRST need to define to themselves what constitutes a 'GOOD LIFE' to them. We are all different and to each this means a different thing.
    I like what my mentor Jim Rohn considered as a 'Good Life'.
    A Good Life Contains These 6 Essentials ยป Jim Rohn Blog

    Often when someone tells me they wish to earn a Million what they really mean they wish to SPEND a Million, to be able to travel, to SPEND.
    This is also portrayed in below comment too:
    upload_2019-9-6_14-43-15.png

    To me what constitutes a good life is not just spending, but also being productive, giving, helping, being around those close to me that I love or like to spend time with, my spirituality and doing what I choose to do.
    So a great approach to living as long as you put into perspective what constitutes a great life to you!;)
     
    chindonly likes this.