FIRE

Interesting in learning more about the Financial Independence Retire Early (FIRE) movement? We share our thoughts on FIRE strategies here.

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    #178: How to Make Work Optional, with Tanja Hester

    ByPaula Pant
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    Tanja Hester retired at age 38.

    She had a negative net worth until her late 20’s, thanks to a combination of student loans, buying expensive cocktails and clothes, living far beyond her means, and not paying attention to her money. If you were to have met the 27-year-old version of Tanja, you wouldn’t guess that she’d be a likely candidate for retiring early.

    Yet a decade later, she’s saved 40x of her annual cost of living.

    How? Tanja worked as a political consultant in Los Angeles, and during her career, ascended to important high-ranking roles. Every promotion came with more grueling hours, accompanied by a raise.

    Tanja maintained her same standard of living, banking every raise. This simple strategy allowed her to rapidly grow her net worth.

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    #175: Three Percent is the New Four Percent – with Larry Swedroe, Retirement Planning Expert

    ByPaula Pant
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    Larry Swedroe is one of the most respected investment thinkers and writers of our time.

    He’s published 8 books on investing, including one of the first books to explain the science of investing to a layperson audience. He recently wrote an ultra-comprehensive guide to retirement planning.

    He joins us on the show today to discuss the nuances of investing and retirement planning.

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    #164: How and Why I Took a Mini-Retirement, with Bob Lotich

    ByPaula Pant
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    As an entrepreneur, Bob Lotich loves growing and expanding. But after a particularly stressful year, he realized he had burned out.

    He woke up one Monday morning and, for the first time since he’d started self-employment, he realized he didn’t want to go to work. This was a new and uncomfortable feeling.

    He decided to take a mini-retirement.

  • “We are literally the millionaires next door”- says me, to the Washington Post

    ByPaula Pant

    Guess what? The Washington Post published an interview with me about the Financial Independence, Retire Early movement (the FIRE movement).

    They asked if it’s possible to save half of your income. They asked about the accuracy of Suze Orman’s statement that you’ll need $5 million to retire early. (Spoiler alert: No. You don’t.) And they asked if everyone who reaches financial independence then spends their time blogging about said topic, because if that’s true, then what’s the point?

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    #160: The Paradox of FI — with Jonathan Mendonsa and Brad Barrett of Choose FI

    ByPaula Pant
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    When Jonathan Mendonsa was 18, he researched which college degrees lead to the highest income.

    Pharmacy was near the top of the list of high-paying degrees, so Jonathan decided to become a pharmacist. He wasn’t motivated by passion or calling. His decision was purely tactical. He wanted to make money.

    He spent four years in college, followed by another four years of graduate school. By age 28, he held a Doctorate in Pharmacy and an astounding $168,000 in debt.

    This debt burden might have been bearable if Jonathan loved his chosen profession. For people who love their fields, tuition is the price of being able to enjoy a lifetime of work they love.

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    #158: What I Love About the FIRE Movement – with Clark Howard

    ByPaula Pant

    Clark Howard loves the FIRE movement. That’s because he’s one of us. Clark began investing in real estate at age 22, started a travel agency at age 25, and retired at age 31. He sold his travel agency, moved to the beach and relaxed for four years; then he started a second career as the…

  • Why the FIRE movement is misunderstood

    ByPaula Pant

    The FIRE movement is misunderstood. The drama of the last two weeks proves it. The question is, how can we fix this?

    Ohhh we have a new supporter!!

    Last week, Suze Orman called FIRE “dumb and stupid.”

    “When I was 30 I was dumb and stupid as well, okay?,” she said in an interview with Yahoo! Finance, adding that she’s “pissed off” at people pursuing early retirement.

    But since then, she’s taken more time to learn about the movement — and she’s in support.

    In a Facebook post titled “What I Hate — and Love — about FIRE,” Suze writes…

  • “Two Million Dollars is Nothing. It’s Pennies,” says Suze Orman

    ByPaula Pant

    Want to retire early? You’ll need at least $5 million, more likely $10 million, says famous financial personality Suze Orman.

    I should know. She said that to me, directly, on my podcast.

    I asked Suze for her opinion about a frugal, flexible person who wants to retire early with a $2 million portfolio. She warned that retiring would be a massive mistake.

    “Two million dollars is nothing,” Suze said. “It’s nothing. It’s pennies in today’s world, to tell you the truth.”

    Wait, what?

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    #154: You’ll Need at Least $10 Million to Retire Early, says Suze Orman

    ByPaula Pant

    Want to retire early? You’ll need at least $5 million, more likely $10 million, says famous financial personality Suze Orman. I should know. She said that to me, directly, on this podcast. I asked Suze for her opinion about a frugal, flexible person who wants to retire early with a $2 million portfolio. She warned…

  • “Why I Hate the FIRE Movement,” says Suze Orman

    ByPaula Pant

    A few weeks ago, I received an email from Suze Orman’s publicist, asking if I’d be interested in interviewing Suze on my podcast.

    “Duh,” I replied.

    Suze is a legend in the world of personal finance. She’s appeared on Oprah multiple times, published 10 mega-bestselling books, and hosted The Suze Orman Show on CNBC from 2002 to 2015. She’s one of the most famous voices in this space.

    I read her most recent book, Women & Money, and sketched out a framework for the interview. Then I threw it away, feeling dissatisfied with my questions, and I turned to the Afford Anything community on Facebook and Twitter.

    “I’m interviewing Suze Orman,” I wrote. “What would you like me to ask her?”