NotePD Loader
Ideas Post

Ways to pursue F.I.R.E.

Financial Independence Retire Early.

Not really wanting to "retire early" just want to be able to have financial security.

I am no genius and think we can all can get to FIRE.

Have a plan. These are the 10 ways I go about things that don't stress me out.

My goal is to "work" for 10 more years. Then revisit my FIRE goals.

Would love to hear what other people are doing to make money or pursue their goals.

    1. Have a plan (spend < make)

    Have never had a budget, but do follow expenses every month. Personally, I use Mint. There are other platforms. Some people still just use excel to track.

    What amount do you need/want to live the life you want? It is often less than we realize.

    Ramit Sethi and Tony Robbins have information in their books about trying to pursue the lifestyle you enjoy.

    We're all different.

    2. Make more at your job/business

    For most of us it's earning more from your W-2. Someone else may need to grow their business a bit.

    I'm currently transitioning to a new career and may take a paycut, but it is something I have planned for.

    3. Cut your expenses

    House/Transportation/Food/Insurance seem to be the big ones.

    Been a homeowner for some time, but prefer to rent! May do so again soon. Less stress for me.

    Cars - mine are old and paid off, but still have to pay insurance, which is a pain. Want to sell one again.

    Food - I need to eat less anyway. Cooking at home saves.

    Insurance - So expensive in the US if you are not getting it from an employer. I am convinced so many would start their own businesses if we had a better system here.

    4. Use Credit Cards

    Pay them off each month.

    Can get great rewards and cash back now from Credit Cards.

    Will show you later another way I use them to make money.

    5. Invest in the market

    There is risk, but you are intelligent or wouldn't be on this site. You can make some money somehow. Or get dividends from holding stocks. It is hard when you are first starting out. The numbers seem small. Eventually, they get big. I'm very conservative and risk averse.

    6. Invest in Real Estate

    Can buy properties on your own, partner with other, or invest in partnerships that pay you while you invest in their projects.

    Again, start small, if you are scared. So many tax advantages to real estate. It's unfair, really.

    7. Invest in businesses or start one

    Great ROI potential. I am not good at this, but for some it is a slam dunk.

    Mow some lawns. Write a blog. There is a ton of potential for even simple businesses.

    8. Loan money

    Prosper is a website I like. Very easy. Again, start small, but you can grow. You are the bank.

    9. Tradelines

    Can be risky. I sell credit card tradelines to those who want to get better credit. It has been good, so far. Been opening more credit cards to potentially do this in the future. Just know, your accounts can be closed at any time. Do your own research.

    10. Delay Gratification

    Do you need the shiny new object now? Sleep on it. Can you buy used? Can you wait a year?

    11. Have fun

    Spend on the things that matter to you! If you like to eat out, go for it. Be thrifty in other ways. Like cars? A new house? Make it work. If you like to travel, credit cards and other services make it possible for you to live the life you dream of with very little sacrifice elsewhere.
0 Like.0 Comment
Comment
Branch
Repost
Like
Profile
Profile
Profile
randomrogerand 3 more liked this
Comment
Branch
Like
0
221817
0
0
Comments (0)

No comments.