this post was submitted on 18 Oct 2023
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FIRE (Financial Independence Retire Early)

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Welcome!

FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.


Flow Charts:

Personal Income Spending Flow Chart (US)

Personal Income Spending Flow Chart (Canada)

Finance Flow Chart (UK)

Personal Income Spending Flow Chart (Australia)

Personal Finance Flow Chart (Ireland)


Useful Links:

Bogleheads Wiki

Mr. Money Moustache - a frugal lifestyle blog

The Earth Awaits


Related Communities:

/c/PersonalFinance@lemmy.ml

/c/PersonalFinance@lemmy.world

/c/PersonalFinanceCanada@lemmy.ca

/c/AusFinance@aussie.zone


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I needed a bit of coaxing.

I traded stocks pretty actively in high school and did somewhat well, and I stayed away from it a bit in college because I didn't have time. However, I thought about getting back into it once getting a real job, and that's when my brother introduced me to FIRE and I decided to do some math. It turns out that when your timeline is 10-15 years instead of 30-40 years, consistent returns are a lot more important because your nest egg growth will be dominated by contributions. If I make a bad call in a 10-15 year retirement track, I could have to start over, which means I could double my time to retire. If I make a bad call in a traditional timeline, I have plenty of time to make it back.

So I decided to follow the Boglehead approach, and it has worked out pretty well.