10 min
#48 Unleashing your financial freedom: the game-changing FIRE movement demystified The Money Spot™ - UK Personal Finance
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- Education
Have you heard about the FIRE movement? It's an acronym for Financial Independence Retire Early. While many people interpret it literally, there's more to this movement than meets the eye. In this episode, we delve into what FIRE truly means, dispel some common misconceptions, and explore the different aspects of achieving financial independence (or FI) and retiring early.
Contrary to popular belief, the FIRE movement is not a cult or a race to become a millionaire overnight.
FIRE is also not about living close to the poverty line so that you can save every penny possible – in the process depriving your family of positive life experiences such as holidays.
FIRE is about gaining control over your financial life and having the freedom to choose how you spend your time without worrying about money. Many attribute the beginnings of the FIRE movement to Vicki Robin and Joe Dominguez’s 1992 book, ‘Your Money or Your Life’.
This episode breaks down FIRE into its key components: financial independence, retiring ‘early’, and what retirement means in this context.
Read more and comment on LinkedIn: https://www.linkedin.com/pulse/whats-fire-movement-ultimate-guide-financial-retire-heather
Ask me a question: https://www.katsonga.com/coach.html
Support the podcast:
In $: https://www.buymeacoffee.com/TheMoneySpot
In £: https://www.patreon.com/TheMoneySpot
Your way: https://www.paypal.me/katsonga
Have you heard about the FIRE movement? It's an acronym for Financial Independence Retire Early. While many people interpret it literally, there's more to this movement than meets the eye. In this episode, we delve into what FIRE truly means, dispel some common misconceptions, and explore the different aspects of achieving financial independence (or FI) and retiring early.
Contrary to popular belief, the FIRE movement is not a cult or a race to become a millionaire overnight.
FIRE is also not about living close to the poverty line so that you can save every penny possible – in the process depriving your family of positive life experiences such as holidays.
FIRE is about gaining control over your financial life and having the freedom to choose how you spend your time without worrying about money. Many attribute the beginnings of the FIRE movement to Vicki Robin and Joe Dominguez’s 1992 book, ‘Your Money or Your Life’.
This episode breaks down FIRE into its key components: financial independence, retiring ‘early’, and what retirement means in this context.
Read more and comment on LinkedIn: https://www.linkedin.com/pulse/whats-fire-movement-ultimate-guide-financial-retire-heather
Ask me a question: https://www.katsonga.com/coach.html
Support the podcast:
In $: https://www.buymeacoffee.com/TheMoneySpot
In £: https://www.patreon.com/TheMoneySpot
Your way: https://www.paypal.me/katsonga
10 min