A large part of the FIRE movement and smart finances in general is living within your means. What this means is to simply spend less money than you make. Even though this rule is simple, there are people with relatively high incomes who are still living paycheck to paycheck. this is due to unnecessary luxuries …
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Avoid Debt
Debt should be avoided at all costs except for a house mortgage or student loans. These should be payed off as soon as possible in order for savings and profit to be maximized. Debt should also be the number one priority when it is present. It is far better to go without a few luxuries …
History of the FIRE Movement
The start of the FIRE movement is generally viewed as the release of the book “Your Money or Your Life” by Joe Dominguez and Vicky Robin. It is the story of, and the steps that were taken, for Dominguez to go from humble beginnings to a successful stock analyst that retired at the age of …
Why are Americans so unprepared for retirement?
The simplest answer is that in general, they are not educated on retirement and finances. Many people believe that Social Security will cover a majority of their retirement expenses, so they save less of their personal income. The reality is that Social Security is only intended to account for roughly 40% of your income. As …
Continue reading “Why are Americans so unprepared for retirement?”
50 Word Introduction
The topic that I have chosen to research this semester is the Financial Independence/Retire Early (FIRE) movement. The FIRE movement is, as the name implies, about being able to retire earlier than the standard 65. The main examples of the FIRE movement working have managed to retire in their early 30’s.
Jake writes about the FIRE Movement 