Updated : Sep 16, 2019 in Articles

What is the FIRE Movement? 🔥| Retire Early!

>>Well, I’m standing here in
a poncho, so I’m not really sure what’s going on [LAUGHS].>>This is a super-simple
game. We’re fishing for advice.>>Oh, wow, I am not
coordinated, at all, so this might take some time. [Fishing for
Advice With Financial Advisers] [SOUND EFFECT]>>By fish, do you mean all
creatures that live under the sea? Because
I kind of want the starfish. [SOUND EFFECT]>>The F.I.R.E.
movement is heating up.>>What they say it is, is
financial independence, retire early.>>What’s your definition of>>financial independence?>>It’s being able to say “Heck
with you!” and quit a job when>>[Liz Weston: Nerdwallet] you need to or change direction.>>[J.D. Roth: Get Rich Slowly] Financial independence is
having enough saved that you don’t ever have to work again if
you don’t want to, kind of like early retirement.>>[Kathy Kristof: Sidehusl] Really when they say retire
early, what they are really talking about is, do something
else and not work for, you know, The Man.>>[Chris Hogan:
The Chris Hogan Show] I think financial independence
boils down to having options: being able to travel,
do things for families, for charities, or do things
for your community.>>[Joe Saul-Sehy: Stacking Benjamins] Financial independence, to me,
means being able to do what you want, when you want. And so
for some people that takes very little money, for other people
it takes a ton of money, but it’s being able to tell the
boss, “Hey, I don’t want to come to work tomorrow,”
and you’re OK with that. [SOUND EFFECT]>>This little fishy
says, “What is the best way>>for someone to start earning>>passive income?” [SOUND EFFECT] [Passive income: Money that
flows into your pocket while you’re sleeping.
—Paula Plant: Afford Anything]>>[Rosemarie Groner:
The Busy Budgeter] Whenever we talk about passive
income, I have to say that, like, blogging is always going
to be the first thing that comes to my mind. But you may not
love writing. There might be something that you love. Like
maybe you love Etsy crafts, or maybe you love analytics
in the stock market. But the most important thing is that
you figure out what excites you, because what excites you is
going to be easy for you to do.>>[Stefanie O’Connell: The
Broke & Beautiful Life] I think that, like, the most common
answer to this is real estate.>>[Joseph Hogue:
Peerfinance101] Don’t just watch some
infomercial at 3 a.m. and think, Hey, I’m going to start 10 real
estate properties and make millions of dollars off that.>>Stefanie O’Connell: The
Broke & Beautiful Life. For me, managing real estate
sounds like the biggest headache in the world. I’m going to use investing
principles and earn dividends and kind of build my passive
income in a much more hands-off way.>>[Sarah Wilson: Budget Girl] I don’t really think there is
such a thing as passive income, to tell you the truth. I think if you are making money
you should always be working to promote the things that you’ve created. I don’t think you
should take passive income for granted. I think you should
be actionable about it. [SOUND EFFECT]>>I think that’s everything.>>AARP has a lot of great
additional videos coming out, and you do not want to miss
any of them, so subscribe to AARP’s YouTube channel.>>All right, man, this
fishing, you got me. You got me. You got me working out up here.
Here we go, here we go, all right, here we go.>>So, you thought the
questions were going to be hard. [SOUND EFFECT]

Leave a Reply

Your email address will not be published. Required fields are marked *