Financial Independence Retire Early [F.I.R.E]

[ancafe]

design your life for the future, don't just think about eating or buying snacks today.

For those who are currently undergoing this movement, perhaps you can share your journey here and for those who really want to start this movement, you can ask and have a good discussion here.

Early retirement plans and having a sufficient income structure are the desires of most people and maybe it is a hope that almost all of us want. But unfortunately we cannot achieve this opportunity because to build much better finances requires hard work with sufficient capital support. In economic conditions like today, it may be impossible to choose early retirement because maybe we still need work to meet our living needs, health costs and children's education.

We rarely see people taking early retirement steps if they are not supported by the ability to earn money stably outside of the work they are engaged in. The steps to take early retirement need to be carefully considered and maybe not everyone can do it and even those of us who have a little asset in bitcoin may not necessarily be able to make a policy to take early retirement.

[Plaguedeath]

This is why there should be savings for different kinds of things. Health insurance can save you inn cases like that. As per school fees, you are right that you can't truly retire yet until one of your kids graduate and have a job of their own because until then you do not know what can happen or what will your kid be doing. Life is difficult and early retirement is a dream that is very difficult to achieve.

Do you think all diseases are covered by health insurance? even the insurance cover your diseases, do you think they will give you the best service and best medicine? there's a big difference when you go to public hospital (where you can use insurance) and private hospital.

And furthermore an early retirement sounds dull. There need to be periods of rest and work in a person's life but only work or only rest is not the right way. Life means movement, only the dead don't move.

Yeah, the only difference is I'm just feel safer because if I get fired, I can still survive. But regardless I have a job or not, I will keep thinking how to grow my money, it's a never ending cycle. I mean, rich people are still go to work, so why should I quit?

And yes, we are design to move and not rest, that's why when I go to the province and seeing farmers, who are in their 70's or 80's but they look young and strong because of their constant movement and battling life itself.

I disagree, they do look strong, but they doesn't look young. Working outside get sunlight everyday and they still don't know about skincare products, they're look older than their ages.

[TheUltraElite]

Well, for someone to invest consistently, one must have a stable job to generate regular flow of income. Investing without a reliable job is just a waste of time and money. However, the earlier you get a job, the better, because that will be your stepping stone to save and invest, and when that investment paid off, early retirement might be possibly obtained.

Exactly, the job is the cornerstone of incoming money and how you spend or save that money is the next step, but that step will not work if the previous step was not existing. There are people in the community who dream big but have a small cap job, although no job is small, but we must aim towards progression and rising the corporate ladder, not just dream about early retirement.

The problem now is if you are a low-income earner, investing won't be an easy venture. But if you take time to add more job to your current job, I think that may definitely work. You work harder not actually to acquire more of your needs or wants, but to sustain your investment until it gives you a passive income in the future.

Investing if started early on, can lead to a good corpus by the time you retire. But keeping a easy out mindset about investing then retiring will never work, inflation will burn you down.

[Republikcoin.com]

Fat firing is being extremely dedicated to frugality maximize income or business exits to a four fund vanilla bland portfolio. $jepi, $jepq, $schd, $vym, etfs are the way to retire early and stay wealthy. Or 100% bitcoin

Financials placed entirely in Bitcoin are also not a problem as long as it is based on comfort and also the desire of ourselves, because everyone can clearly see that the price increase that can occur more maturely and also crazier is only in Bitcoin even though other altcoins can also have a sharper increase in performance before they die and are thrown away by their own creators so that they can cause a deletion in the market because the volume of purchases has decreased. So if you want to put money on a more profitable and safer foundation, of course choosing Bitcoin is not wrong even though you are also interested in several other altcoins, but you need to see it clearly through its past history.

[Mahanton]

Fat firing is being extremely dedicated to frugality maximize income or business exits to a four fund vanilla bland portfolio. $jepi, $jepq, $schd, $vym, etfs are the way to retire early and stay wealthy. Or 100% bitcoin

Financials placed entirely in Bitcoin are also not a problem as long as it is based on comfort and also the desire of ourselves, because everyone can clearly see that the price increase that can occur more maturely and also crazier is only in Bitcoin even though other altcoins can also have a sharper increase in performance before they die and are thrown away by their own creators so that they can cause a deletion in the market because the volume of purchases has decreased. So if you want to put money on a more profitable and safer foundation, of course choosing Bitcoin is not wrong even though you are also interested in several other altcoins, but you need to see it clearly through its past history.

Making Bitcoin investment or cryptocurrencies as part of your early retirement plan is something that you shouldnt be that expecting too much, on which as long you do set out limits and able to move on once crypto investment go south then its not a bad option as we do all know. Dont put your eggs in one basket on which at the moment that you do able to make investment in different areas on which it does have that potential that could bring out some potential profits then you wont really be worrying too much if one of those will fail since you do know that there's still others on which they can be able to make up some recovery in case if there's loses. Early retirement is something that we do need on which we can still be able to enjoy our old years and having no sickness but we do know that not all will really be ending up into this situation but rather they will really be having that kind of life on where they do depends on 8-5 job on which this is really the usual case. If it was really that easy to be done, then all of us might already that reached out that financial freedom that we do all waiting or hoping for, but in reality then its not that just easy and thats why other people leaves out no choice but to accept on what their current fate is. It is really just that too sad that there are things that we do want to achieve but due to several factors we do end up on failing on achieving that.

[Alpha Marine]

To me, the term "early retirement" is an overrated thing. I'm not against it and it's a good thing but I feel it's not as smooth as it sounds. I would like to retire early of course but it's not realistic. How many people actually do retire early? I'm from a country where I have to secure the future of my kids and realistically speaking I don't think I will be able to do that with an early retirement.
Also, even if I could actually retire early, I don't think I would if there was still money to be made. I'm not built like that. I'm not going to lie and say I'd retire if I had $100 billion in Bitcoin right now, instead, I'll find a way to make more money.
So when people talk about wanting to retire early, I never relate to it. If I make the kind of money that can make me retire, I can always keep working and live whatever kind of life I want.

[CK485]

To me, the term "early retirement" is an overrated thing. I'm not against it and it's a good thing but I feel it's not as smooth as it sounds. I would like to retire early of course but it's not realistic. How many people actually do retire early? I'm from a country where I have to secure the future of my kids and realistically speaking I don't think I will be able to do that with an early retirement.
Also, even if I could actually retire early, I don't think I would if there was still money to be made. I'm not built like that. I'm not going to lie and say I'd retire if I had $100 billion in Bitcoin right now, instead, I'll find a way to make more money.
So when people talk about wanting to retire early, I never relate to it. If I make the kind of money that can make me retire, I can always keep working and live whatever kind of life I want.

with the term early retirement perhaps for people who are successful in their work, or the business they are working on is quite successful, so they don't have to work too hard and enjoy early retirement, because their burden has been reduced in terms of finances because they are sufficient in terms of the finances they get.

[TheUltraElite]

To me, the term "early retirement" is an overrated thing.

I feel the same too. It seems too good to be actually true. Or it is a dream of escape from a job that the person never wanted to do. So they think of retiring early and escape the pain in a dream.

For those who are passionate about what they are doing, they would continue to work on their fields even after they retire.

If they are actually contributing to their field of work, they will be paid well, they will have the enthusiasm to continue their work and their mental health would not worsen.

Still investing should be done along with work side by side but it does not necessarily mean that everyone can retire early, most of them can never do this.

[Webetcoins]

To me, the term "early retirement" is an overrated thing.

I feel the same too. It seems too good to be actually true. Or it is a dream of escape from a job that the person never wanted to do. So they think of retiring early and escape the pain in a dream.

For those who are passionate about what they are doing, they would continue to work on their fields even after they retire.

If they are actually contributing to their field of work, they will be paid well, they will have the enthusiasm to continue their work and their mental health would not worsen.

Still investing should be done along with work side by side but it does not necessarily mean that everyone can retire early, most of them can never do this.

These are really solid and important points because if you are having good reputation into your work, and you are feeling comfortable then surely you need to enjoy this for as long as you can a which will give you extra money more experience and many other positive things which are not possible through you are going for the early retirement even many will be not agreed with this but this is still important and good way of keeping yourself busy.

We have too many examples as peoples are taking not retirement even they are facing problems, but they love to keep themselves in challenges and this is also way of their survive for long time having early retirement and going through for easy life usually have other consequences as well.

[Jawhead999]

Also, even if I could actually retire early, I don't think I would if there was still money to be made. I'm not built like that. I'm not going to lie and say I'd retire if I had $100 billion in Bitcoin right now, instead, I'll find a way to make more money.

Can't agree anymore, I would say the same thing $100 Billion a total amount of money that I'm sure I can live peacefully in my retirement, I have no need to think about money anymore, I only care which place I should go, which activities I should do, or whatever I want.

If it's just having money 25x of our annual expense, it just only make me think I have a time to think what should I do next, but later I will back to be poor if I didn't earn fresh money.

[Alpha Marine]

Still investing should be done along with work side by side but it does not necessarily mean that everyone can retire early, most of them can never do this.

I can believe if people do actually quit their jobs but I don't believe they will retire and stop working entirely. They can start a business that won't take most of their time. Most people still find ways to make more money. Even a man worth over $200 billion hasn't retired early.
I don't think it's smart to spend your money without putting it into things that will yield more money for you.
What makes sense to me working as,little possible and having investments, but just not working at all and having no investments at all at an early age is what I don't understand.

[franky1]

i have not worked since i got into bitcoin over a decade ago. for me its the escape from a fixed schedule, fixed income job rat-trap
without revealing age i still have between 10-30 years before im in my 60's
offering me time to go travelling and choose what i do with my time

if i want to start a business, i can. if i want to just do a hobby i can. its about the ability to say 'i can' instead of 'i wish i could'

coming to the conclusion that you no longer have to explain yourself to other people, no longer have to do things for others and you dont owe your time to anyone else but yourself

alot of people think that you just need to have enough deflationary growth/interest/dividend investment income to match the wage you were on to live the lifestyle you did. but you actually end up needing more to do the things you want to enjoy.
emphasis: entertaining yourself for the time you would have been working costs money.
so dont just jump out of work once you get to a equal income as your pay

luckily bitcoin outperforms any other investment so it has given me total freedom and i have not cared about what i buy or do or need to pay

because i travel i just paid my housing costs yearly as a lump payment.. which has also helped avoid the whole monthly bill accounting stress normal working scenarios had. i owe no one and nothing ever becomes due

getting to the point where you dont have to concern yourself with owing people money each month is a freedom in of itself, just being able to pay everything off or paying bills yearly instead of weekly/monthly is a good release of concern

getting to the point where you dont have to concern yourself with owing people your time each day is a freedom in of itself, you regain your own self identity and choices in life

to me its not about ending work and just staying home, its about travel, its about experiences, its about trying new things.
(writing this post whilst on a plane to a country i have never visited before)

advice to anyone wanting to retire early
1. dont just aim to get passive income that matched your employment income. when you have freedom, it actually costs you more money to do things to fill in the time which you would have been working
 a. ensure the deflationary growth/interest/dividend/passive income exceeds your needs you had when working.
 b. dont slowly eat into/drawdown your hoard/wealth each month..

2. bitcoin offers a better than 4x growth per cycle, meaning when you sell at a ATH, you dont (and shouldnt) sell all. but still able to take out income to live for 4 years and also buy back in to accumulate during the post-ATH correction. meaning your hoard still grows in sats and $$ value even when you take out lumps per cycle
 a. time your investments to only partial exit to fiat when the investment is at its prime/ath. dont do exit DCA'ing/monthly drawdowns
 b. take out what you need at the ATH season and invest again at the correction season
 c. same with any investment like stocks/shares.. buy low sell high, repeat

3. enjoy and use the time you have. make new experiences, have new choices.. dont trap yourself into schedules and duties, even if you start a business as a hobby/new income

4. most importantly, and for emphasis, get to the point where you say "i can" instead of "i wish" or "i hope to"
  a. EG i can buy the most expensive car, but i dont need to,
  b. i can go to X country, ok lets go

escape the rat-trap of getting an income and wasting it on other people not important to you. dont just buy an expensive car just to show off to neighbours.. buy what makes YOU happy not what makes you look at your best to others

many times people think if they show off a rich life they will be happy because their neighbours will know they are financially stable.. however the truth is after your acquaintances wave and smile and compliment you in your drive way, they go into their homes and gossip how you must have cheated your way to your lifestyle or are doing some debt based lease, or other jealous gossip.

so dont waste your money impressing people, as you will end up being financially unstable trying to pretend to display financial stability and in the end those you are trying to impress dont end up being impressed.. so just do things for you

i can buy the latest most expensive car on the planet. but instead i bought a classic and have the freedom to modernise it however i want. add body kits and new engines, etc. because i can...
my next project is to turn an old 1920's car into a electric car with neons, bodykit adaptions and whatever else i feel like.. because i can

if you want to impress someone.. find someone you have seen many times that are a genuine humble person but stuck in a rut. a person that doesnt blame the world, a person that doesnt think the world owes them. someone that genuinely deserves a uplift in their life but too afraid to ask.. and help them out because you can
avoid the people that you see begging for handouts but refuse to help themselves when a opportunity to help themselves comes about

finding that right person to uplift their life is a genuinely exhilarating experience, changing their life and making that money spent on them an investment in true happiness of others

[N.O]

I'm a guy who loves increasing income rather than reducing expenses, reason being that expenses are always pouring in from other means rather than just your concerns. If it's just about our personally, most people should be really rich, but we can't control that on our dependent and families without depriving them of necessities. So we should always try to increase our earnings rather than decrease our expenses. Now this does not encourage anyone to spend unnecessarily,  but we should really concentrate more on enlarging our earnings so we'll have more leverage on funds management.

Your opinion is just like with me because I'm want to double and triple my income by learning different skills and I became successful in my goal because my ambition was at the top . Every person should work for getting skills in life because these skills could give them independence in the future,so always try to learn from the persons who are skilled persons and they have knowledge which you are searching. Always Keep motivate yourself because you could lose the rope from your hand before reaching to your target. You can't be perfect in anything but you can improve and always try to improve your work then your pay will be more in your company in which you are working. If you will work hard then you could be retire early in life and you will enjoy the life without working.

[Yucky]

Retiring early or not is a matter of personal choice and circumstance. Some people are stuck in the rat race and must work until retirement age, around 60. Others are fortunate enough to have a sufficient income, allowing them to choose their retirement age, whether in their 40s or 50s.

After retirement, whether by choice or necessity, people generally fall into two categories. There are those who keep themselves busy, starting new ventures, volunteering, or engaging in other activities. Then, there are those who sit back and enjoy their retirement. You're either team A or team B.

However, what financial independence means to you depends on your work, investments, and personal values. For some, financial independence isn't about retiring early and enjoying their pension. Instead, it's about having the freedom to pursue their passions without financial constraints, regardless of age or retirement status. And that is where I fall in, doing what I like whenever with no financial restraint

[Faisal2202]

I'm not saying that someone should eat lobster and caviar every day, but what kind of life is that if you eat rice, bread, or some cheap processed meat every day? Sometimes giving up everything that makes life life is completely counterproductive, because by the time you reach your early retirement, maybe you won't need all that money you saved.

I completely agree with you we must live our life, fulfill our desires like on food, things etc. Eating rice, bread or similar items are still food, but eating more good food should be preferred if have money but not spending money on that because money at the end will be left behind if someone has accumulated a lot.

And yeah, it's quite difficult for anyone to invest all of their savings in something like this and in the second place, I don't think we should invest our life savings in a single initiative like this it can be risky as well. Investing and making passive income can make a person live a life because even doing two jobs nowadays is not enough.

[South Park]

You have to be dedicated on this principle

"Spend less than you earn—invest the surplus—avoid debt. Do simply this and you'll wind up rich."

We are living in a hard time where there's a lot of uncertainty. I like the principle, but I don't think I like the end goal of retiring. I would like to continue working even if I have passive income. The mind and body will feel differently if you keep them away from the things its been doing for many years, and that is work.
I like to be financially independent, but I like to keep my body and mind sharp through work.

You could keep working, but if you do not like your current occupation and you are in it just for the money, as it is the case for the majority of the people, then you can pick a new job or start your own business knowing that even if you were to fail, you will still have all your investment money, creating a money stream that can sustain you until you find a new occupation that you like, the real problem like you have stated is the dedication to such principle, since it will require at least a decade to produce those results and most people have problems planning what they will do next week.

[Sandra_hakeem]

Investing regularly is the most proven early retirement plan option that holds great rewards even when the investor is no more.
Savings work but not as effective as investing. A low salary earner might end up saving little or nothing and even after retirement the difference between his days as an employee and what ever investment that comes afterward might be very slim.
.
I keep wondering how people will quit their job to start a business the haven't done a survey for experimenter before hand. Been self employed is good but I won't advise people jump into it without a solid backup plan. When starting any form of investment two things should be at the back of the mind. It could either succeed or fail and this should be the reason for a second plan incase things goes the opposite direction.

[MarjorieZimmermanGinger]

For those who are currently undergoing this movement, perhaps you can share your journey here and for those who really want to start this movement, you can ask and have a good discussion here.

If I am still productive, I prefer to work because that way we can generate a stable income and maybe to meet the needs of life will be much better. Early retirement is indeed something that most people hope for but it is much better when we can still work. For me, more sources of income from several places will be much better than just focusing on investment goals because it opens the way to achieve a much better standard of living and we also have the opportunity to get the wealth we want.

[michellee]

For those who are currently undergoing this movement, perhaps you can share your journey here and for those who really want to start this movement, you can ask and have a good discussion here.

If I am still productive, I prefer to work because that way we can generate a stable income and maybe to meet the needs of life will be much better. Early retirement is indeed something that most people hope for but it is much better when we can still work. For me, more sources of income from several places will be much better than just focusing on investment goals because it opens the way to achieve a much better standard of living and we also have the opportunity to get the wealth we want.

This also what I am thinking so far because when we are still productive, we can search for more opportunities to give us more income. That will be better if we can create a passive income source that will give us that chance so when we are not productive, up to 65 years old, we can enjoy our life without thinks about the income.

Early retirement is a good idea but we must prepare everything from now on so when the time come, we will not feel difficult to pass on our lives. The more source of income that we can have, the more better our live so we don't have to bother with how to fills our daily needs plus other expenses when we are old.

We have our option how we want to do so it is better if we thinks what we can do when we are still young. So when the old time comes, we will not regret it.

[tygeade]

"Retire early" has a bad connotation to it, if you ask me there should be something else instead of retire early. I understand the acronym of "fire" works great, so maybe try to use something that would be a bit more like still starts with R and E, but find something else. Because retiring isn't for everyone, I know people who have money and still work at 70+ years old because they love what they are doing and that is the most important part, there isn't really anything wrong with wanting to keep doing what you love.

This should be the most important part and I can definitely consider this very important aspect of investing as well. Because if you can earn something decent, like have enough money, then we could consider maybe there is a potential that you could make a lot more money and that would allow you to keep doing what you love doing without needing to have anything worse, which should be the most important thing in the future as well.