simple thing FIRE movement gets wrong
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- เผยแพร่เมื่อ 8 ก.ย. 2024
- FIRE (Financial Independence, Retire Early) movement has taken the world by storm over the last 10-years. Mostly popularised by white single millennial males through TH-cam and podcasts, this movement has provided a lot of solid financial advice to what is undeniable a handicapped financial system.
...but they also didn't tell you the whole story!
I myself was an early adaptor of the FIRE movement almost 25-years ago as a teenager. As a white single (at the time) millennial male growing up in fiscally conservative Finland I drank the Kool-Aid. By the age of 25 I had achieved a modest level of FIRE. But at that time I realized that life has evolutionary seasonality the FIRE didn't take into account.
In this video I'm exploring the greatest gifts "FIRE" gave me, and what it failed to tell me. Hope it helps you make better financial decisions in the short life we all have on this beautiful blue-green planet.
Shop Four Sigmatic Think coffee here: bit.ly/TheSpore
Make America One Income per Household Again. Amen
When I was a kid in the early 70s , that was when both husband and wife had to work to get a house . That's when it started BUT since there's two incomes , its less of a hassle to furnish the home . Thats the 🐂💩 they told us anyway . Now its almost impossible for the majority of Americans to even buy a house .
True
😢 so true 😢
no, hubby & wife just have to go out to work full time 7 days a week plus some extra to get a small home that they can return to at night to at least sleep in for 7 hrs & then back up & out to work again in the morning..🤷🏼
oh, did I mention the 7 days per week thing?
@@words4dyslexicon you jus complainin
18% inflation pretty much negates what you’re saying here. It’s hard to save 15% of your income when the price of basic necessities are 40% higher than 4 years ago.
Facts!
50 to 60 before taxes, after all the taxes it would be 18 to 28 thousand.
Its not realistic for most
I was looking at leaving my job - on advice from my wife. Because I don't 'silent quit'... it's not morally 'right' - I went through the bills to see 'how long' I had as a cushion and found all kinds if wasteful spending $1,800 of which was a 'fast coffee' habit. After trimming the fat... we retired early. I've been camped out safely at home since just before 2020 and find 'social distancing' has kept me 'healthy' at this point. Jesus explained it simply - yeast theory. Can't wait until this 'bread' is done and over.
In my late 70s I am still starting new businesses and wouldn't change a thing to loose my enthusiasm for something new in any business.
Love that!
Pd for house as we built it, took 10 yrs but debt free. Almost impossible then , now its worse
Live within your means. You not like it, but not doing so will ruin you later.
Impossible in Cartel Commifornia. Say that to American Citizens financially trapped in foreign territory. You'll be looked at as very ignorant. Clearly you don't have a clue that the average wage is not 1/3 of the bare minimum cost of living for a single person. Hardly any single family homes because nobody can afford to sustain a household without multiple families in it. You've never ever experienced anything like it. Or you would have a completely different outlook.
I dropped my hours by one day to allocate that time for my passion job . As long as you treat that as a serious job that you have to show up for then it's doable
I sw the term FIRE, 25 Year's ago as relating to FINANCE, INSURANCE, REAL ESTATE
Try living on only $12,000 a year with rent, utilities, auto ins and a cheap phone. There is almost no food or gas at a disability at 77? Neither can I 😠😢Food banks don't help for diabetics, either.😢😡
Average income $100k?! I work 7 days a week and make like 30k.
I think the dream is to have the financial freedom to retire early but the drive to work hard on stuff that fulfills you. I could never imagine being one of the 'retire early' people who just want to sit around and vacation.
Well said
They just end up with no debt and investments while living on a small business and not needing a job
I would work out everyday like a mad man. Become insanely healthy. Long ass walks on the bitch. Instead of beating myself up working.
I hope it will get better!
In Cartel owned and operated Commifornia the average income doesn't equal 1/3 of the bare minimum cost of living for a single person.
By a house,when you are younger.Then you can sell it later,or rent it aut
Appreciate your perspective, thanks for making this video.
My pleasure!
A house for 60k? What arrea was that? was it a tent? ⛺️ 😂😂.
It was in a Finnish suburb 22-years ago. Maybe worth $120-$150k today.
@@ImTeroWhy is this being shown in US if you have such a Finland Focus?
I live in the US and sharing my experiences from here and from living in 9 other countries
@@ImTero its worth probb 500k
@@ImTero this isnt the case here houses are 350k at least. That would make you need 150 salary
It seems like you live in a utopian socialism because Uncle Sam is keeping the Bear off of you. At least when you describe your economic development circumstances.😂
Well said!
GDP is Grossly Distorted Propaganda
Economists do not talk about the depreciation of durable consumer goods. Though consumer goods like cars and refrigerators and microwave ovens get added to GDP they do not get subtracted on the macroeconomic level though the consumers Net Worth and quality of life may go down. Economists do not mention Net Domestic Product very much. That equation only incorporates the depreciation of Capital Goods like industrial robots and 18-wheel trucks.
Consumers are supposed to True Believers in GDP.
There is no way in hell, let alone GODs' green earth, that I can even afford to think about a retirement. Never in my cards. Be mighty damn nice to have though.
Be well, stay safe.
Herbert W Armstrong was right.Obviously.
You dont think making your own coffee makes any sense as car as saving cash goes?
It actually makes lots of sense and will save a lot of cents. Making your own coffee everyday as opposed to buying your coffee at coffee shop everyday over the course of just 30 years will save around $10,000 or more. That's a lot of change in more ways than just one. 🤘😎👍
It can help but housing, transportation, and food tend to be much bigger buckets to worry about.
@ImTero I agree there are bigger buckets to save on vs "coffee", you are not wrong. I guess the way you said it in the vid made it seem like it was nothing and meaningless. I have seen the price of a cup of coffee outside of my kitchen and my drip maker. I cant recall the last time I bought a premade cup. Its very expensive for what it is; freakin coffee. Maybe there was a misinterpretation on my part.
I could have also been more clear about it on the video as I 95% of the time make my coffee at home (albeit I get it free from Four Sigmatic)
I love work! Maybe part time semi retire.
I got $7000 from my retirement Social Security.
Interesting theory.
I would only say.
1 the quality of life for the majority of Americans would improve.
If we went back to taxing the wealthy at 70%.
Instead poor people keep electing politicians that promise tax cuts.
But those cuts only benefit the wealthy.
You vote against your own best interests.
2 Having kids.
Just stop already.
The world has enough.
Obviously, I'm pro choice.
This planet doesn't need another little you.
Adopt, or find another use for your abilities.
If you noticed.
Much of his success was by in part to him being born into what many would call a socialist nation.
Where people pay taxes.
That benefit everyone.
Not pay taxes so the wealthy don't have to.
My opinion.
It all depends on your life style and the way you manage your life and prepare yourself for life.
I am a single 65 year old male. I am disabled and live off of Social Security. I have 3 roommates and live just fine on $2000 a month. I have a truck & a car. I am dept free due to the way I planned.
Congrats!
Te boi aser cetelo trabes
Yo nery rolando ruano ok te boi aser cetelo yrages