Motley Fool Money FI, Not FIRE
Jul 2, 2023
Brian Feroldi, a Motley Fool contributor and financial independence advocate, dives into the principles of Financial Independence (FI). He explains how different styles of FI can adapt during market downturns. Feroldi emphasizes that it’s never too late to start your journey toward financial freedom. They discuss the empowerment of upskilling in a tight labor market and the impact of remote work on living arrangements. Finally, the conversation highlights how small lifestyle changes can lead to greater happiness, beyond mere financial metrics.
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Financial Independence (FI)
- Financial Independence (FI) prioritizes saving and investing early in your career, often 25-75% of income.
- This allows for earlier retirement, or other forms of work-life flexibility.
FI Spectrum
- FI isn't traditional retirement; it's about choosing how to spend your time.
- It ranges from Coast FI (front-load savings) to Fat FI (high spending).
Market Impact on FI
- Declining asset prices benefit early-stage FI savers due to better valuations.
- However, those nearing FI face headwinds with large nest eggs.