FIRE tips?

roxon89 · 2018-11-07T17:17:47+00:00

Live below your means. Start as early as humanly possible. Other than that, there’s no silver Bullet.

AFSGT01 · 2018-11-07T17:52:45+00:00

That is a hard call. Both of those funds are relatively good performers and low cost. My concern is a market correction that will crush the NAV of both. Might want to start thinking about diversification and capital preservation. Also, never take investment advice from someone who has to work for a living.

Concentrate on earning more money and save until it hurts. Then save some more.

Good luck Sir. I think you are on the right path to FIRE.

/Take a look at SPY, SDOW and DDM. You might find the last two very interesting, but be careful with them./

TheImpossible1 · 2018-11-07T18:09:34+00:00

Stop, drop and roll /s

DangZagnut · 2018-11-07T21:10:03+00:00

Investments aren't how you get FIRE. Investments are a way to hedge against inflation.

What you need to do is build wealth, preferably wealth that is generated by income that does not require your personal presence.

For example, someone sending you a rent check rather than you having to show up 9-5 at an employer.

So you want to maximize work that either doesn't require your personal presence, or you want to have location transparency, as in, you can work remotely and isn't tied to a particular place.

This is how /r/digitalnomad operates so you can engage in currency arbitrage where you work at one rate, but live or travel somewhere that is much cheaper, meaning your money increases in value.

This allows you to seriously decrease your expenses, meaning you don't have to worry about a commute, dry cleaning, gas, fuel, vehicle, insurance, and all the associated costs and time waste of going to an office.

Since your lifestyle is much less expensive then you've removed the biggest problem you face, expenses. The lower they are, the easier it is for you to quit the rat race (if you want) and be FIRE if you like.

If you have $100k saved and only spend $10k a year then you can "retire" for 10 years, if your expenses are $25k a year, you can retire for 4 years, etc.

Investing, which was your actual question, could be answered at /r/investing because you have a highly specific question, but FIRE, to me, isn't some get rich quick scheme, it's a long term strategy.

Either make more money that doesn't require you to be anywhere, like social security, rental income, investment income, or have enough saved up, such as starting at a young age and saving as much as humanly possible, or decrease your expenses are so low they'll outlast your money saved + income. Hopefully you'll do all three.

The more you account for things and earlier your start, the earlier you can be FIRE.

You have to look at it strategically and tacitcally and I'd recommend 90 day goal. to work on one of the three things above that you can measure. Your issue is math here.

Title	FIRE tips?
Author	bouldurer
Upvotes	5
Comments	5
Date	November 7, 2018 5:09 PM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/9v18mc/fire_tips/
Archive Link	https://theredarchive.com/r/MGTOW/fire-tips.463212 https://theredarchive.com/post/463212

Comments