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What are the key components of what FI/RE is and is not
Get 5 ways to invest ‘broadly and vigorously’ to reach your FI/RE number on this Queer Money® and then kick off your financial independence journey now by getting your free copy of the 7-Step Credit Card Debt Slasher.
You can have the life you want before you turn 65
Some FI/RE folks are all about the rules. You can’t retire until you’ve saved 20 times your annual expenses. You must live and die by the 4% rule. And if you’re working in any way, shape, or form, you’re not truly FI/REd. But if you ask us, FI/RE is a little more flexible than that. And if you have the freedom and autonomy to live and do what you want, when you want and where you want, that’s good enough for us.
On this episode of Queer Money®, we explore what FI/RE is and what it is not, explaining when the concept was introduced and how its creators evaluate expenses. We discuss why you don’t have to wait until age 65 to live the life you want, challenging you to get clear on what your goals are and then develop the fiscal discipline to live within your means. Gain insight on investing ‘broadly and vigorously’ and learn how to enjoy life today while you plan financially for tomorrow
Listen here to learn how to design your own flavor of FI/RE:
Topics covered on what FI/RE is and is not
- How Your Money or Your Life introduced the concept of FI/RE in 1992
- The distaste for corporate life that’s fueling the FI/RE movement
- Evaluating expenses based on the number of working hours it takes to pay for it
- How we define FI/RE as the freedom to live and do what you want, when you want and where you want
- 6 key components of what FI/RE is (and what it isn’t)
- Why you don’t have to wait until age 65 to live the life you want
- The power in getting clear on what your goals are and the WHY behind your goals
- Developing fiscal discipline vs. living beyond your means
- 5 ways to invest ‘broadly and vigorously’ to reach your FI/RE number
- Why financial independence is not one-size-fits-all and how to design your own flavor of FI/RE
- How to enjoy life today while you plan financially for tomorrow
Resources on what FI/RE is and is not
- Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence by Vicki Robin and Joe Dominguez
- 7 Different Types of FI/RE on Queer Money® EP285
- 4: The Four Principles of a Debt-Free Life by John R. Schneider & David Auten
- Arlan Hamilton on Queer Money® EP316
- Wefunder and Propeller on Queer Money® EP329
- The Latte Factor: Why You Don’t Have to Be Rich to Live Rich by David Bach
- Les Brown
- David Bach on Queer Money® EP261
- The Power in Aligning Our Values and Standards on Queer Money® EP280
- CreditWise
Connect with David and John
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Debt Free Guys on YouTube
- 7-Step Credit Card Debt Slasher
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email [email protected]
Get more on FI/RE
- Your Sure FIRE 5-Step Early Retirement Plan
- 7 Steps to Achieve a FIRE Lifestyle
- How to Calculate Your Retirement Number
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.