SH69: FIRE (Financial Independence, Retire Early)
What would you do if you never needed to work for money again?
How much money do you actually need to retire?
In this episode, the humans discuss FIRE (Financial Independence, Retire Early). A movement that embraces extremely high savings rates in order to build up enough money to live off of forever without any future income.
Standard Humans is hosted by Aidan Dennehy and Evan.
Shownotes:
The 4% Rule: The Easy Answer to “How Much Do I Need for Retirement?”
Let’s talk about what’s up with Bonds, and what ever else you’d like to ask me - Blog post by JL Collins about what Bonds are doing during the 2022 recession
Mint - Great free budgeting app
Get Smart With Money - Netflix Documentary
Great Financial Independence Resources
Playing with FIRE - Documentary and Book
Mr. Money Mustache — Early Retirement through Badassity - One of the original FIRE bloggers
Mad FIentist - Blog and Podcast that get super in the weeds about saving, investing, and tax reduction strategies
The Stock Investing Series by JL Collins - Great primer on how to invest
Afford Anything - Podcast and Blog about how you can afford anything, but not everything
Prince of Travel - Travel Hacking blog and YouTube channel
Financial Trackers
Mint - Great free budgeting app
Wealthica - Great free investment tracking app
Portfolio Visualizer - Portfolio modeling and optimization tool
Mad FIentist’s Lab - Tool to track your progress to Financial Independence
Financial Independence Spreadsheet - More in-depth version of the Mad FIentist’s Lab tool. Can show you how much you’ll need to save for each ongoing expense you have.
FIRE / General Investing Tools
T-Rex Score Calculator - Find out how much money you are losing to fees over your career (If you’re in mutual funds it’s likely over 50% of your potential gains in fees)
Wealthsimple Trade - Brokerage with no-fee trading
Wealthsimple Income Tax Calculator - Quickly calculates how much you will have to pay in tax based on your income level