FIRE movement

And that gives you options.

And so that's really what FIRE is all about.

Most people don't want to retire early and do nothing, especially people who are actually able to do it.

you know, reaching a level of wealth where you never have to work again, in your, you know, in your 30s, or 40s, or even 50s, takes a level of ambition and drive and dedication and focus.

So today I am bringing on Adam Coelho, who is the founder of Mindful Fire and the Mindful Fire podcast.

And after working for 14 years at Google, he walked away into what he calls semi-retired entrepreneurship.

And so he teaches FIRE, but in a very different way.

So if you've heard of the FIRE movement, it stands for Financial Independence Retire Early.

I

want to start by looking at the engine driving all of this, the FIRE movement.

FIRE, yeah.

For those who might not be deep into the personal finance blogs, FIRE stands for Financial Independence Retire Early.

Right.

And while it feels like this hyper-modern, you know, TikTok-era phenomenon...

Yep.

You worked until you hit the chronological finish line and then you got a gold watch and a pension.

There's a new FIRE movement, and this time, it includes real estate.

You've probably heard of FIRE before.

It stands for Financial Independence Retire Early.

And it's a strategy for frugal living, saving as much money as possible, investing every extra dollar, and finally, somewhere along the way, retiring early.

But here's the thing.

It's the word FIRE with two I's.

F-I-I-R-E.

And of course, you're familiar with the FIRE movement, the Financial Independence Retire Early.

Yeah.

So I came across this FIRE movement when I was educating myself and looking for content.

It stands for Financial Independence Retire Early.

Now, there are different types of FIRE.

The traditional one basically means that you invested so much in your investing portfolio is at a point where you can stop investing and stop working.

There's a lot of Reddit, subreddits about money that I think due to good moderation are actually incredibly valuable assets.

I really like the FIRE subreddit, which stands for Financial Independence Retire Early.

And so it does have this...

It does have this sort of status component where people are flaunting.

Now, initially it was for retirees looking to have their portfolio last them for the rest of their life.

I don't believe it was intended for the FIRE movement, which are these younger people who sort of popularized this 10 or 15 years ago around withdrawing a portfolio when they're in their 30s to live off it.

And they always would cite the 4% rule as this back-tested, research-tested thing that would say, okay, yeah, you could probably pull 4% out forever, and it's totally fine.

There's a lot there.

Because I think one of the most misunderstood ideas in personal finance, in my opinion, this is my opinion, is early retirement itself.

Rule seven, early retirement does not exist.

With the FIRE movement, it stands for financial independence, great, retire early.

Okay, cool.