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In this episode, we chat about the misconceptions we see people making about the FIRE movement. Both newbies starting out and outsiders unfamiliar with the concept seem to miss some important key points.
We’ll clear those up today, so we can all move forward together! There are also some haters out there, so we pick apart why they’re (obviously) wrong 😉
- Financial Independence only works for high-income earners (02:12)
- FIRE means you can’t buy a house (10:21)
- You have to make major lifestyle sacrifices (12:51)
- Having kids means it’s impossible to retire early (17:09)
- You must be an anti-consumer – a nice modern life isn’t allowed (22:47)
- It’s our moral duty to keep working and paying tax (27:54)
- When markets crash, early retirees will beg for their jobs back (34:05)
- If everyone pursued FIRE, the economy would collapse (43:38)
- The FIRE crowd is deluding themselves and pretending to be happy (48:06)
- This whole retiring early thing is ridiculous (52:03)
- FIRE is just running away from work (57:07)
- Summary (1:00:14)
- Can You Achieve Financial Independence on a Low Income?
- If the FIRE Journey Makes You Miserable, You’re Doing it Wrong
- FI Backup Plans Part One & Part Two
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