Backlinks: finance.
FIRE
FIRE stands for “financial independence, retire early” and is defined as both a lifestyle and a financial goal. The idea is to shorten the number of years you need to spend working by living drastically under your means.
FIRE adherents try to build enough in savings, investments and possibly passive income that they can become financially independent of work.
With FIRE, you build enough in financial reserves that you no longer need to trade time for money.
Links
Retire early with crypto? Playing with FIRE:
https://cointelegraph.com/magazine/2021/06/29/retire-early-with-crypto-playing-with-fire
Understanding Fire: A Philosophy for Financial Independence and Retiring Early
It’s a simple concept but it’s not for everyone: save more than you spend:
https://getpocket.com/explore/item/understanding-fire-a-philosophy-for-financial-independence-and-retiring-early
A 23-year-old Google employee lives in a truck in the company’s parking lot and saves 90% of his income
When Brandon headed from Massachusetts to the Bay Area in mid-May to start work as a software engineer at Google, he opted out of settling into an overpriced San Francisco apartment.
Instead, he moved into a 128-square-foot truck. Brandon lives in this 2006 Ford, which cost him $10,000:
https://businessinsider.com/google-employee-lives-in-truck-in-parking-lot-2015-10
Why I want to retire by 45 and how i plan to get there:
https://timeinthemarket.com/why-i-want-to-retire-by-45-and-how-i-plan-to-get-there
Portfolio goals:
https://thefiexplorer.com/portfolio-goals
The 25x rule for early retirement:
https://investorjunkie.com/retirement/25x-rule
https://news.ycombinator.com/item?id=27821101
This is one of the biggest missing pieces in internet FIRE discussions. So much of the FIRE discourse is about not working that many don’t realize that they’re going to be extremely bored with 16 hours to fill every day. Worse, their friends are all busy with their lives.
It’s actually a common failure point of FIRE post-mittens that didn’t work out. Especially with couples, where it’s more likely that at least one person will realize that maybe jobs, and the sense of purpose and social life that comes with them, aren’t so bad.
The other big issue is that people underestimate their spending in a post-work FIRE lifestyle. It’s tempting to subtract out costs like commuting and work clothes and assume your costs will go down. In practice, if you plan on traveling and spending more time on hobbies your costs are likely to go up.
I’m a therapist to the super-rich: they are as miserable as Succession makes out
Many billionaires I work with have trust issues, lack a sense of purpose and struggle with shame, guilt and fear
https://theguardian.com/commentisfree/2021/nov/22/therapist-super-rich-succession-billionaires
Communities:
