The FI/RE Movement – And Why You Need To Be Part Of It!

There is a movement that has been “formally” going around now for a little over 10 years, but the concepts of the movement have been around for decades.  It is the FI/RE movement which stands for Financial Independence / Retire Early.  

Financial Independence

Financial Independence is about having enough money saved and invested to no longer need to rely on a job as a source of income.  It’s about working because you want to, not because you need to. 

Passive Income Streams

Passive income is about not having to rely on formal/traditional work to survive.  Passive income can take the form of stock market investments, rental properties, a book you have written, or any other form of income that comes in from things you have invested your money and time in. 

Retire Early

The Retire Early part of FI/RE focuses on being able to quit your job (if you want to) to pursue other hobbies or interests of yours.  Many people who achieved FI/RE, spend 40 hours or more each week at part-time jobs they love and/or volunteer opportunities.  

The Benefits Of Joining The FI/RE Movement

While the FI/RE Movement may sound like a hippy millennial movement, it’s really about taking control of your finances and getting rid of your debt.  This is not a new strategy or concept – it’s something that your grandparents probably subscribed to. 

Critics Of The FI/RE Movement

The main argument against the FI/RE movement is the “frugal” mindset many people subscribe to.  The argument I commonly hear is people want to live their life to the fullest while they are young. 

Telling Your Money Where To Go

I spend my money on vacations with my family. It’s also about investing.  I invest about 25% of my income (pretax) and live off of the rest while I pay down my mortgage. 

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