Hello and welcome back to the 360 Money Matters podcast! Saving is no easy task. Especially in our current day and age that encourages high consumerist lifestyles and an economy where many individuals and families are drowning in debt. The traditional solution would be to keep working hard, but the idea of carrying on in the workforce well beyond our 60s isn’t a future not many of us want.
Today’s topic is about a financial movement that’s been gaining traction over the past few years called Financial Independence, Retire Early, or the FIRE Movement. We will discuss in detail the philosophies behind the movement, how you can start saving and investing early, and how simple living can be a stepping stone towards helping you achieve your desired income lifestyle.
If you’re looking for an effective and extreme strategy to achieve financial independence before you reach your 60s, give this episode a listen and see if FIRE’s strategy is the one for you. This is a strategy that can be followed to its fullest extent or take the elements that resonate most with you. Stay tuned!
This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
- The premise of the FIRE Movement
- Changing your lifestyle to cut expenses
- Aim to save 70% of your earnings
- The FIRE Movement’s investment philosophy
- Conscious vs. Unconscious spending
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