Unlocking Financial Freedom: Exploring F.I.R.E.
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- čas přidán 30. 06. 2024
- Watch Investors' Hangout to unlock financial freedom. Exploring F.I.R.E
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Here are the key takeaways:
* Attain financial freedom by saving, investing wisely, and creating a robust financial safety net.
* Aspire for F.I.R.E. (financial independence, retire early), but stay flexible about the 'retire early' goal.
* Retire only with a solid plan and financial backing; otherwise, it may become disastrous.
* Early retirement hinges on financial readiness and finding driven pursuits, balancing finances and meaningful engagement.
* Prioritise essentials for maintaining dignity; if lacking, it's advisable to continue working for financial security.
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Chapters:
00:00 Introduction
02:47 What is the concept of F.I.R.E.?
02:14 How to achieve F.I.R.E.? How should one determine savings goals?
05:16 Are there risks associated with the F.I.R.E. approach?
06:27 How to mitigate the associated risks?
06:30 Viewer's question: Should we do SWP from the same fund we did SIP or transfer our money to a hybrid fund and then do SWP?
08:14 Key Takeaways
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I believe in FIRE. Discovered the concept during Covid isolation. After home, child education & marriage were done, took stock of things. Realised i was at Lean Fire. Reduced workload, have enjoyed past 3 years with hobbies and limited professional work. Also reduced expenses, cut out frills from life. Living on limited current income and adding small amounts to corpus.
Thanks for sharing
As long us we are fit to work, please do continue to work!
Not-Working is very painful than working. If you are physically not fit, then you can think of taking rest, otherwise continue to work. But this time, you no need to go very aggressive, in a moderated manner.
Thank you Dhirendra Kumar Ji we learning a lot of financial information through the value research programs 👍
Glad to hear that
Yes. We should believe in it
👌👏👏
this is more important for private sector IT employee.. after 45 finding job is diffucult , unless u r very much skilled , after working 20-22 yeras very tough ...
Thanks for including a question from the VRO community and answering it in this forum. Few of these questions are highly relevant to most of us. Thanks for starting this wonderful initiative!
Glad to help!
Thank you Dhirnder sir.Fire is very important .
You're welcome
You'll be on fire 🔥 😅
FI yes RE may not be unless you have a meaningful engagement to focus on. Humans are built to strive, there is nothing like RETIRE EARLY. You will start declining as a social being if living without a sense of purpose.
Dhirendra Dir is best
Thank you
I have fire on you