The FIRE Movement Explained, an Introduction

Have you ever dreamed of retiring early so you can spend more time with your loved ones, pursue your passions, and live a more fulfilling life? If so, you’re not alone, and you might be curious about the FIRE Movement.

The FIRE movement stands for Financial Independence, Retire Early. It’s a lifestyle movement that encourages you to save and invest aggressively so that you can retire early and live life on YOUR terms.

There are many different ways to achieve FIRE, but the basic idea is to spend less money than you earn and focus on growing your investments. As your investments grow, you’ll eventually reach a point where your passive income (from your investments) covers your living expenses. At that point, you’re financially independent and you can retire early.

Whether you dream of retiring early or not, pursuing FIRE can vastly improve your finances and overall well-being, but more to come on that shortly.

In this article, you’ll get my perspective on the “FIRE Movement Explained,” particularly what makes me grateful and excited about FIRE.

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“Freedom Financial” Trick or Treat: Your FIRE Journey Awaits

‘Tis the season for goblins, ghosts, and ghouls, but it’s also the perfect time to start thinking about your financial future, perhaps even a “freedom financial” journey. 

On this spooky night, we gather to celebrate Halloween and all things spooky. But what if you used this time of year to fuel your FIRE goals?

After all, what’s scarier than the thought of working until you’re old and gray?

You might remember that FIRE stands for Financial Independence, Retire Early. Put simply, it’s a movement designed to help you achieve financial freedom (or “freedom financial”), so you can retire early and do more of the things you love.

In this article, I’ll provide you with some spooky strategies you can use to fuel your most ambitious financial goals, freedom financial, FIRE, or otherwise. I’ll also tell you about a few spooky characters that may help or hinder your journey to financial success.

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Strategic asset allocation is one of the most important aspects of investing for FIRE (financial independence, retire early), but what does it mean, you might wonder?

It’s actually rather simple. Strategic asset allocation involves finding an ideal mix of assets in your investment portfolio based on your personal risk tolerance, time horizon, and financial goals.

So it’s essentially finding your version of a Goldilocks portfolio. What’s right for you might be too hot or cold for someone else. But it doesn’t matter if your portfolio is wrong for someone else, what does matter is that it’s right for YOU.

If you’re committed to achieving FIRE, then strategic asset allocation is critical.

In this article, I’ll share some tips to help you mindfully select a strategic asset allocation that will support your financial goals, FIRE or otherwise.

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Passive investing can add hefty fuel to your financial freedom and FIRE goals, at least if you know what you’re doing.

If you’ve been here a while, then you might remember that FIRE means financial independence, retire early. Essentially, it means you can live on your terms by saving and investing a significant portion of your income.

While I’m still working toward my FIRE goals, I’ve used passive investing to achieve many of my financial goals over the years.

In so doing, I’ve paid off my massive student debt, grown my net worth, and considerably grown my savings. It’s been pretty worth it, at least for me.

In this article, I’m going to tell you what passive investing is and how it works. I’ll also give you a few ideas to help you get started on your own passive investing strategies.

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Portfolio diversification. It’s not sexy, but it’s the key to hedging your risk when it comes to investing.

If you dream of achieving financial freedom, investing and portfolio diversification can support your journey. 

If you’re following the FIRE movement (financial independence, retire early), portfolio diversification is even more important.

Diversification is the practice of spreading your money across different asset classes, industries, and geographic regions. This helps reduce your risk by minimizing your exposure to any one particular investment or market sector.

Whether you’re just starting to invest, or well into your investing strategy, portfolio diversification can help you build a portfolio that will help you achieve your financial goals, FIRE or otherwise.

In this article, I’ll provide you with the key factors you’ll want to consider when you choose your investments, and tips on how to build a diversified portfolio that will help you achieve FIRE.

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Introduction

Do your priorities include achieving financial freedom goals?

Financial freedom via the FIRE movement (financial independence, retire early), is a growing trend. After all, why wouldn’t you want the freedom to choose what you do with your time? 

When you achieve your financial freedom goals, you have the flexibility to choose how you live your life. You can live on YOUR terms. That kind of freedom can completely change your life for the better.

Maybe your career matters to you and you could never imagine retiring early. Even if that’s the case, wouldn’t it feel great to be able to choose whether or not you work?

One of the key components of the FIRE movement is investing. When you invest your money wisely, your money can grow over time and support you in retirement, early or not.

In this article, you’ll learn the various ways your investments can fire your financial freedom goals.

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How to Create a Business Plan: The Key Steps

If you’re committed to turning your passion project into a profitable venture, you may want to consider building a business plan.

A business plan is a roadmap for your business. It helps you define your goals, strategies, and financial projections. It’s also essential if you’ll ever need to attract investors or secure funding.

Whether you have a small business on the side or a business that’s forecasted to make millions, a business plan can be a valuable tool.

If you’re thinking about starting a business, or if you’re already in business and want to take it to the next level, you should consider whether or not a business plan can benefit you.

In this article, I’m going to tell you exactly how to create a business plan that will support your company’s growth.

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FIRE retirement is something that really only became important to me after my kids were born.

In the past, I was blindly ambitious. I dreamed of climbing high up the corporate ladder and achieving remarkable milestones throughout my career.

I could have easily continued on that path, had I decided it was right for me, but thanks to my children, I quickly determined it wasn’t.

That doesn’t mean I don’t respect those that have continued on that path. It’s a tough journey forward, and I applaud anyone for going after their dreams, regardless of what they are.

A FIRE retirement became important to me because I started dreaming of spending more time with my children. I don’t ever see myself giving up ambition, or my career entirely, but I’d like to have more flexibility to choose how I work, when, and how much.

Over the years, I’ve been able to become far more financially free than I ever was, though I’m still working to achieve a FIRE retirement. My partner and I have made remarkable progress on our journey, and we can live off of just one of our incomes today if we choose.

In this article, I’ll share the methods we used to become more financially free, and I’ll tell you what I’d like to achieve with a FIRE retirement.

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As I sat down in our tax accountant’s office, I looked down at the piece of paper I was holding in my hands. It was an important document that reflected what I’d paid in interest toward my student debt that year. 

I couldn’t believe the figure in front of my face, yet it was right there. 

In just one year, I’d paid roughly $3,000 of interest into my student loans. And that was only the interest for one year. It didn’t account for the amount I’d paid into the principal balances, or what my husband had paid into his student loans either. 

That $3,000 was all I was allowed to write off on our taxes.

I had just paid what accounted for a nice cruise vacation into my student debt interest, and it didn’t even help lower the balance. I would have rathered spent the money on that vacation instead, but here I was, holding the piece of paper that proved I’d done otherwise. 

That money was gone, wasted.

I shook my head before I handed the document over to the accountant.

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Being a mom is a full-time job (and beyond) all on its own, but that doesn’t mean you can’t have an online side hustle. In fact, a side hustle or passion project can be a great way to make some extra money, have some fun, and expand your skills.

If you’re a mom looking for a new passion project, there are a number of online side hustles that can be a great fit. 

In this article, I’m going to give you the top 5 online side hustles that make money, plus 6 tips to help you on your journey to passion project success.

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