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FIRE Movement

Financial Independence, Retire Early

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Questions answered

What if a happier life was only a few simple choices away?
A successful entrepreneur living in Southern California, 35-year-old Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway.

But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family’s beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed everything.

Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half.

Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family’s journey to acquire the one thing that money can’t buy: a simpler — and happier — life.

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Retirement

Investments

FIRE Movement

Sharon
Sharon
Level 5. Genius
Answered 20h ago
I wish I had done this earlier, so I'm sharing this with you now: You might want to get this Net Worth tracking excel sheet by Kyith from the Investment Moats. https://investmentmoats.com/wealth-building-2/dont-track-your-expenses-or-budget-first-plot-your-net-worth-instead/ If your net worth (including investments) is increasing month after month, it's satisfying to know that you're in the right direction. If it is the opposite (i.e. decreasing), it will push you to think where you have gone off the mark. Tracking expenses will also allow you to see how much are the essentials (needs) and non-essentials (wants) that you are spending each month. It is important to know, so that you can plan how much you may require for retirement. I use this from Gracia. She lives in Europe so it's in EUR but there's no issue in adapting it for SG use. You can update your expenses on-the-go easily, since the file is in the cloud. https://medium.com/google-sheets-geeks/how-to-easily-track-your-expenses-with-google-sheets-90cc5da114ce Hope this helps!
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FIRE Movement

Investments

N
Ninja
Level 6. Master
Answered 35m ago
It means to retire early living on your passive income. Search fire online, many guides by individuals who are people like us. Not through rich people or consultants. Doable with little effort.
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FIRE Movement

Z
Zed
Level 3. Wonderkid
Answered 22h ago
Well, there are always 2 sides to a coin. You call it a constraint, I will say that it is a habit that meets my minimalist needs. This is probably a matter of perspective and we should choose the lifestyle that fit our needs as there is no 1 single rulebook for FI. If lean FI (40k expenses per year) is too little to meet your needs, go for fat FI (100k+ expenses per year). However, the trade-off will be more hard work, work hours, sources of income and less time with loved ones. As mentioned by Yang Teng, communication is important for money matters as a couple as you two will face challenges such as budget for wedding, housing and children. Understanding each other spending habits will be helpful in a relationship and though talking about money is probably difficult, it will avoid unnecessary misunderstanding and pressure on the relationship as money plays a key role.
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Retirement

FIRE Movement

Nothing is foolproof in this ever-changing world. Choosing a profession out of passion and having the luck to be situated into a favorable work climate ambience makes FIRE useless.
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Investments

FIRE Movement

Stocks Discussion

STI ETF

ETF

S&P 500 Index

This portfolio is to achieve these: - match market returns : of 8-10% on average - lowest possible fees : 0.1% to about 0.5%, compared to mutual fund which is at least 1% - no need to manage investment: fund self cleanse by removing stocks which no longer fit to be in a fund and replace with another better stock The local + international index will make it more growth portfolio. The bond index will make it more income portfolio. Personally I modified the fund to be as such: - local fund: Removed. STI ETF is very bad as banks as telcos has a very large percentage in it. Hence it is not as diversified as S&P. Furthermore, I am not convinced Singapore's index will outperform US index. - International index: I use IWDA + EIMI. Both reinvests dividends so i do not have to manage the dividends. The 2 of them covers developed (IWDA) n emerging (EIMI) markets. So I have the broadest diversification possible - Bond: Removed. Our CPF acts as a bond already. Also, I have long time horizon to invest, hence i would sacrifice stability of a bond which gives 3-4% to get a higher return of 8-10% from international index funds
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Investments

Lifestyle

Retirement

FIRE Movement

I started planning when I got my first job, since I knew I didn't want to work till 65. I started by saving every cent I could and giving tuition on the side while trying to figure things out. That was more than a decade ago and there wasn't really too much information out there, plus I was trying to increase my salary rapidly to maximize earning potential. Over time I sort of figured out a game plan for myself and starting executing things in a concrete way, such as making my first investments and such. It's been many years now but I am starting to see some results with my portfolio. What do you mean by 'social sense' though?
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FIRE Movement

SG Budget Babe

Healthcare

Education

Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 02 Dec 2019
If you look at the overseas FIRE advocates, some of them have kids too. Therefore, it is possible, but you would probably need to have a very supportive spouse and kids who are fully on board with the idea.
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Investments

Savings

FIRE Movement

Realistically, you'll need around 8% yield to achieve $1k/mth on your investments. This only leave high yield bonds, and REITs that can achieve such a payout (unless you leverage, but that's another topic entirely, unless you want to explore it). Your capital will also be subject to market movements. You might find that deploying $145K @ 5% will yield you $7.25K and the remaining $5K that you didn't invest can be spread over 12 months to make up the difference to $1k/mth, and that might be a better way of managing it, since you'll (hopefully) go back to work after a year and saving $5K back up shouldn't take too long. Better to play safe than worry about your leveraged investments moving against you due to market movements.
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FIRE Movement

Investments

Stocks Discussion

Collin Seow CFTe, CPM
Collin Seow CFTe, CPM, Director at TradingPLC Venture
Level 4. Prodigy
Updated on 17 Feb 2020
Hi , I agree with Aaron Leow. Do NOT aim to get rich quick. Invest in yourself. Education gives you the best leverage. We will be rich by 40 if we just avoid the mistakes we make in investment. Read good books on investing and if you like it trading too. Personally, I trade index and forex but this is not the cup of tea for everyone. In the end, find out not just about the instruments but also yourself. The best investment is one the suit you the most in term of volatility, returns and time/effort.
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Investments

FIRE Movement

Hi Matthew, A reasonable dividend yield is 4%. Hence, to generate $1200/yr you will be looking at $30K in capital. This can be done by investing $10K a year over 3 years. You'll have access to a variety of instruments that can achieve this 4%, it could be REITs, equities or even Unit Trusts (actually, most will achieve more than 4% yield). They each have pros and cons so you will want to understand their chacteristics before you start (this part can be an essay, so I won't elaborate too much). Do note that Unit Trusts can pay dividends monthly, which no other instrument can. Why 4%? Well, I prefer to be conservative. Dividend payouts can and have been cut before in bad times, so if you invest $30000 expecting 5% and get 4% in the end, it won't feel too painful.
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