The FIRE Movement. What is it? Who’s doing it? Should I do it? Is it good or bad? How do I do it? These are all questions you may ask yourself when you hear people talking about the FIRE Movement. We cover all of this and so much more in this week’s episode of The Money Guy Show.
You may notice that we have a special visitor for this episode. Brian is out of the office visiting his favorite mouse (if you guessed Mickey, you’d be right)! Gabe Talley from our team joins us and shares his vast knowledge on this subject with our Money Guy family. You don’t want to miss this episode of the Money Guy Show.
Here’s What You’ll Find Out in this Episode:
- How Gabe helps FIRE clients develop a strategy from Point A to Point B
- Where the FIRE movement began
- Why Millennials embrace the FIRE movement
- What is the #1 concept from Vickie Robins’ book “Your Money or Your Life”
- Common behaviors of Millennials towards money and retirement
- How to apply the Money Guy Order of Operations to your FIRE goals
- What FIRE participation means to a capitalistic economy
- The percentage of money people are saving who participate in the FIRE movement
- Common traits of FIRE participants
- The three different categories of FIRE participants and the characteristics associated with each category
- The pros and cons of the FIRE movement
- Frequently asked questions about the FIRE movement
- Secrets to becoming a successful FIRE participant
- Why do you have to change your mindset about saving and accumulation as a FIRE participant
- How to approach charitable giving as a FIRE participant
- How taxes play a role in your financial life as a FIRE participant
- Common blind spots for FIRE participants
- How to prepare to become a FIRE participant
- The Money Guy perspective on the FIRE movement
Resources Mentioned in this Episode & Related Episodes
- Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated for 2018
- Reddit FIRE Community
- Here’s What You Should Know About That Survey Saying 1 in 6 Millenials Has $100K in Savings
- 69% of Americans Have Less Than $1,000 in Savings
- Financial Order of Operations: How To Prioritize Your Financial Goals
- Dalbar: Surprise! Investors Beat the S&P in January
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