COVID-19 and Early Retirement (FIRE)
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 26 August 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
Learn how coronavirus is changing the FIRE movement and retirement planning.
The FIRE movement, "Financial Independence, Retire Early", may have to make adjustments since the pandemic. Find out what changes people are making.
The article is here.
Are you investing well for financial freedom...or not?
As we live our lives, we have seen enormous money be made in real estate, technology stocks, etc. and have seen wild swings in markets before. They can feel scary at the time, but in hindsight are often tremendous opportunities for future financial success.
If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 2% or 10% on your money over 30 years, is the difference between it growing to $181,136 or $1,744,940, an increase of over $1.5 million dollars.
Your compounding rate, and how well you invest, matters!
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Transcript
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| 0:00.0 | Be wealthy and smart, episode 766. If y'all know what I mean put your hands up and declare with me |
| 0:14.0 | Yeah, I'm full of time I'm gonna live a good life |
| 0:21.0 | I'm gonna live the good life |
| 0:22.0 | beautiful and glorious life. |
| 0:25.0 | Step into a world of wealth and financial freedom without budgets, boredom or bosses, |
| 0:31.0 | on Be Wealthy and Smart. And now here's your host, Linda P. Jones. |
| 0:38.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth Mentor. Empowering Women and Men Worldwide to Financial Freedom. |
| 0:45.2 | On today's show, we're going to talk about COVID-19 and early retirement. |
| 0:50.8 | And that's because some people who've been focused on early retirement may or may not be shifting their plans a little bit. |
| 0:58.0 | We're going to talk about an article that was on market watch com and written by |
| 1:04.0 | Alessandra Malito and she titles it has COVID 19 |
| 1:08.0 | stopped Americans from chasing early retirement |
| 1:11.0 | not exactly and it says the future may be filled with |
| 1:15.3 | uncertainty but some Americans are still planning to retire in their 30s, |
| 1:19.6 | 40s, and 50s regardless of the pandemic. Many members of the fire community, short for |
| 1:26.0 | financial independence, retire early, say they're still going through with their |
| 1:31.0 | early retirement plans. |
| 1:33.0 | The pandemic may have shifted some retirement dates |
| 1:36.0 | or given a new perspective on how they feel about their current jobs, |
| 1:40.0 | but for many, achieving financial independence |
| 1:42.0 | has never been more important to them. |
| 1:45.1 | In the midst of market volatility, high unemployment rates, shuttered cities, and a health crisis |
... |
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