Financial Independence Retire Early F.I.R.E – I Got BURNED! financial independence

Thanks for being honest with your FIRE experience! It takes courage to give it another chance after that bad experience. I'm a believer in many of the concepts of FIRE and it provided me with the inspiration to go on my own FIRE journey. Every journey is different and personal, and I believe the RE(Retire Early) messaging can put unrealistic expectation on people and lead to undeserved disappointment in oneself. I like to change the RE to "Retire Earlier" because not everyone can retire in their 30s, 40s, and 50s but if you can retire a few years earlier (1,3,5, etc) or retire at the same age with a lot more savings, then it's a big win. I'm a big believer in saving as much as you can and investing it to get to achieve financial freedom but not to be too frugal where it will makes you too stressed or unhappy (what's the point of it then?). The trick is to save as much as you can and still be happy through lot of experimenting and honest evaluation of your consumption(does that new 7th suit really made me more happy?). Only you know if 10%, 30%, 50%+ saving rate is too much and not worth it. No, it doesn't make you weak, undisciplined or flawed because your saving rate isn't a high enough number. Good luck in your journey! BTW, I started my journey at 38 so its never too old to start! 🙂 It's about "Progress Not Perfection".

This topic is very important. For years I struggled with outstanding debts, bills and my children's school fees. I was at a point where I wanted to give up when I came across YouTube about how to make and multiply your income through passive income. Fortunately, I had saved some money and decided to start an investment (with the help of an investment advisor). Right now I'm sitting at around 200k R.O.I. and have paid my debts in full

Why are you in a car ?

Don't feel guilty for failing in a system designed to keep you poor

Everyone would like to retire early. The point is being realistic about what it takes to get there. You have to anticipate substantial cost increases later in life when you may need assistance with daily living. All of these fire videos like to show healthy and relatively young couples enjoying life on the beach or on vacation – that's the pitch. The reality though is potentially running out of bread when you are old and can't afford it.

Freshing and Authentic Voice for talking about money. Keep up the Good Work!

It sounds like you simply aren't able to make the necessary sacrifices to get to your goal. Yes, you have to sacrifice lifestyle and sometimes friends. However, if you stop saving, that time is lost which could have been compounding. We have been in the best 10 year run in the history of the markets so if you aren't able to see decent results (not necessarily attaining FIRE) during this time period, you should definitely be looking in the mirror.

you're mumbling too much, get to the point

Doesn't seem like you got what Ramsey actually preaches. Saving $1000 is the very first step to get you used to saving money. It's aimed at people who live paycheck to paycheck, blowing it all away on futile crap.

After that you need to pay down your debts and build up your emergency fund to 3-6 months of expenses (in my case, I chose to make it a full year's worth, because I like to plan for the worse).

As for the rest of the video – kudos for trying to understand it, but looks like you have a ways to go. Trying to hold on to "Quality of life" haha. Oh boy… Good luck!

Tithing ISN'T biblical principle. Show me the scripture where Jesus taught tithing. You believe and do what you want, but the church is just stealing from you. Jesus preaches GIVING. The tithe was meant for sacrifice and prepping.

All you said was I can't do it.. that's we're you fail.

Watched til 7 minute mark and stopped, as still didn't know what your point was.

For.

I started by paying off all credit card debt and then shifted my focus to maximizing my income and buying rental properties for passive income.

Dave Ramsay teaches having 3-6 months of emergency fund. The $1,000 is just for people to save before tackling debt

The idea of spending the next 35 years, 8 hours a day going to somewhere I don't want to be with making money for people I don't care about doing something I don't value makes me want to FIRE so bad. The idle rich are lucky.

Great video! I think the frustration you describe is experienced by a lot of people who are looking for other options than working until they are 100. LOL. One point you make that I find interesting is about the fact you could live on less but it would decrease the quality of your life or something like that. I think it’s worth pondering what makes a person happy in life and what gives their life meaning. Research completed on people near death indicates relationships, health, family and other “inexpensive” parts of their life gave them the greatest value. I always recommend people look over their spending for a month and really decide which purchases give them value. It’s amazing how just cutting back on some extras can really add up as you know. Ultimately, all of this comes down to one thing: freedom. The freedom to do what you want, when you want and not have to stress about how bills are going to get paid. Also, so many people have so much to give to their community and volunteer but are stuck working so much in a job each week they don’t have any time or energy left over. I think all of our local communities would be a lot better if people were able to contribute for the greater good. Great channel, I’m excited for more of your videos! Keep up the great work!