Hello,
Buckle up, it's gonna be a bumpy ride, for short story time, to make a long story sh!+ er sssssh ah I mean short:
Waaaaaay back when I was still a band director, lead for mine own band and hadn't even though about starting the Millennial $$ Money Man (I was still in my twenties ughhhh ahhh those were the days, my friend, I thought they'd never end... laa la laa la), I barely knew anything about FIRE.
And... there's a good chance that you STILL might not know what it is, even with all the press that the movement has had in the last 2-3 years, or so.
Here are the basics so I can catch you up really, quickly:
FIRE = Financially Independent Retired Early... a myth right!? Reminds me of my first car s Fiat - Fix it again Tony!
Long story short, you drastically cut back on your spending, save a bunch of money quickly, invest it, and when you build up a big enough nest egg... ( loose it in the last financial bubble and/or live on a salary that's 1/3 of what you couldn't live on to begin with, just kiddin' ) ... your choice... but I digress....
... you quit your job. Retired early. Boom. Just like that.
After that, you live off of your investments and ride off into the glorious sunset that can only come from not having to work anymore.
Now, obviously, there's way way way more to it than that. Economically and for your own sanity, you don't 'retire' you just find something else to do. You 'retire,' in stages...
It's honestly not really something I can cover in an email (books have been written on this topic).
But here's what I can tell you:
I used to hate the entire concept of retiring early. I thought it was a myth, quite frankly...
The first time I heard about FIRE, I specifically remember being annoyed that a bunch of high earning people were saying I could quit working, if I just spent less money, save 50% of my salary (the one I had trouble living with) and saved up a million dollars, or two 'coz of inflation + taxes (3.5%/yr) ...then retire.
I was a band director and lead for mine own rock band with $40,000 of student loan debt living at my in-laws house. My truck had freaking roll up windows. I wasn't exactly ballin' back then. I could live in my truck, if I had to.
So hearing these rich people shame me for spending too much was... annoying to say the least haha. hehe.
Truth be told, I think I read about it a few times (probably a few of those "How This Couple Saved Eleventy Bajzillion Bajillion Dollars and Left Their $500k/ Year Jobs at 27-Years-Old to Travel Full-Time In a Kayak, Canoe, Sailboat or Travel Trailer (RV)" articles), thought it was all a load of crap, and then ignored it for years.
Then, after M$$M took off... I started to take a closer look. I kinda had to honestly.
A lot of my personal finance blogging + biz peers are WAY deep into the FIRE movement, and several them have actually retired from their jobs and are living this semi-boujee laptop lifestyle, every day.
I've spent a lot of time talking to people pursuing FIRE, hearing them out, discussing the pros and cons of the tactics & strategy, etc. etc. etc.
Here's what I realized:
FIRE, just like anything else, suffers from its fair share of misconceptions or myths. Sure, some of them come from clickbaity headlines, but most of them come from people like me who just didn't dig quite deep enough to figure out what it was really all about. The 'Passive Income,' myth folks...
That's why today, I'm not sending you to a M$$M article.
I actually came across a great read on Forbes that covers some of the biggest misconceptions about the FIRE movement.
So if you're at all interested in retiring early...
... or you just want to save up a buttload of money someday...
... OR you want to live in a kayak (or whatever vehicle makes you happiest) and travel full-time ...
My thanks in advance for your, trouble, time, attention, energy and consideration.
- Johnny
P.S. - No, I have no interest in retiring early. I barely have a real job as it is. Pro blogger. I mean come on. I just send emails and collect magic internet monies.
P.P.S. - Yes, you can pursue FIRE and still have lattes. You don't have to give those up. Don't panic.
---------- Forwarded message ---------
From: Millennial Money Man <bobby@millennialmoneyman.com>
Date: Mon, Aug 5, 2019 at 2:56 PM
Subject: Inside my love/hate relationship with the FIRE movement
To: <joaoa.desilva2018@gmail.com>
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