20 Minute Books Playing with FIRE (Financial Independence Retire Early) - Book Summary
Oct 25, 2024
Explore the journey to financial independence and early retirement through inspiring stories and practical tips. Discover how to transform your relationship with money and live more intentionally. Learn what sacrifices some are willing to make for ultimate freedom. This conversation is a wake-up call for anyone dreaming of breaking free from the daily grind.
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Epiphany From A Podcast
- Scott Rieckens heard Mr. Money Mustache on The Tim Ferriss Show and it changed his life.
- Within five months he left his job, halved expenses, and started a documentary about FIRE.
Freedom Over Traditional Retirement
- FIRE is less about stopping work and more about choosing work freely without money pressure.
- Financial independence buys flexibility to pursue passion projects, start businesses, or travel.
Use The 25x Rule
- Aim to save and invest 25 times your annual expenses to reach financial independence.
- Use the 4% rule to withdraw yearly and adjust expense targets to make the math achievable.