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What is FIRE retirement movement?

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Old 07-11-2020, 03:42 PM
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Default What is FIRE retirement movement?

Hi folks, as per the title. I'm interested to know more about FIRE (financial independent, retire early) movement but always get confused when researching online -- hence i don't know if i could achieve it.

I'm currently 29 yo with income of around 9000 - 10k per month. let's assume 9k for now. i've agreed with my partner to not have a kid etc.. because we'll focus more on travelling, exploring, volunteer and probably live a nomad life.

my expenses monthly is now around $3500/month
- rent/bill/internet : 1000
- food : 600
- mobile : 40
- insurance : 300
- parent : 1200
- transport : 100
- gym/health : 100
- etc.. : 160

how do i know how much do i need to save before i can stop working and live as what i'm living now ? my expenses will stay the same as i don't and will not have debt/commitment/kids.

is there a proper way to achieve this goal faster? i don't have any other skill other than generating 9000 per month from office work.. don't know investment, don't know property, don't even know what is REIT , should i know them? and how many percent should go for investment?

most importantly.. is this FIRE movement thingy realistic? i cannot see myself keep working and stressful every month hence i resort to this.

sorry, noob question

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Old 13-11-2020, 05:39 PM
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Here are some resources to get you started:

Why financial freedom
s:///8-Li_sFNc4Q

F.I.R.E Basics
s://.firepathlion.com/start-here/

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