FIRE - Financial Independence, Retire Early
My Take - Financial Independence but Not Retiring;
KEY TAKEAWAYS
- Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment.
- By saving up to 70% of their annual income, FIRE proponents aim to retire early and live off small withdrawals from their accumulated funds.
- Typically, FIRE followers withdraw 3% to 4% of their savings annually to cover living expenses in retirement.
- Detailed planning, economic discipline, and wise investment are key components in achieving a FIRE retirement.
You know what buds... For myself, Once you have reached Financial Independence and have built a sizable nest egg and can leave the work force anytime... I will always be keeping busy. My wife can retire and do as she pleases but as the head of my family and always leading by example, I will take Warren Buffett's and Charlie Munger's lead and continue to hustle, create more wealth by investing and further compounding the Stock Market's portfolio. Hitting 10 Million/ then 20 Million and one day 100 Million in Net Worth; Collecting Assets is my goal and aspirations to build this number higher and higher but it's really all Time In the Markets. As Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it”.
You know, you can plan all you want and plans will change here and there. The bottom line is though if you have continued health, you are very lucky. So let's remember that Health is everything. None of this shit matters if you don't have Health.
Remember if you are married, to treat your wife and or husband amazing. A Happy Spouse is a happy house. Getting divorced is crazy expensive. Save and be super frugal all you want but if you forget to treat your partner awesome and maintain your relationship... all this saving and investing will be split in half.
"Create a Life where you dont need a Vacation from."
A Day/Week/Month in the Life of Dividend Hustler
When I eventually quit the day job one day, my Work will only be looking after the Portfolio and overseeing the Flow of the Rental Properties. My time will be dedicated to my family and friends. In our household, we always have a good time and always be eating Good food at our beautiful mansion.
A Day in the life of Hustler
I would wake up and spend an hour for fitness and working out.
I envision myself making a pot of coffee and hanging out in my beautiful office where i would read and manage stocks and upkeep with paperwork.
I will spend time with the wifey and make lunch and go for a walk together but that time is with her.
For Dinner, we would create a fantastic Meal and invite the kids for Dinner everyday if they want as Sharing means caring. Spend time with the family.
I would have a pool and hot tub and so ill spend time in either or.
Just relax and unwind, watch a movie or show and then head to bed and end of a day. Pretty much easy days... smooth sailing.
Money would be no problem as we would be living off Dividends and so I like nice things especially fancy cars.
I would have a Lamborghini SVR or that model by Lamborghini.
I would have a Lamborghini URUS.
For sure, I would have the TESLA Cybertruck.
I would buy my wife a Tesla Model X to replace her Model Y she has now.
We will be going on vacations together. Cruises together. I have to spend quality time with her and the kids and grandkids as life is about Family.
I will spend some time giving back to the community. Writing checks here and there for charity. I will donate money towards Mental Health and BC Childrens hospital.
While I am alive, I will be helping and giving the kids each a house. Help them and teach them about Saving/Investing and being the best they can be. Leading by example, and being the hustler and hard working person I am, my family always have respected me.
Anyways Friends, I wish you all the best in your life. I wish you tremendous Health and Wealth. I wish you find your peace and happiness in LIfe.
With one life together, let's have a wonderul journey and make it count. Let's depend on ourselves and continue to conquer each and every goal! Cheers friends!
I
