FIRE Movement
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 29 January 2019
⏱️ 15 minutes
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Summary
I'm a big fan of the FIRE movement. In case you haven't heard, FIRE stands for "Financial Independence, Retire Early." Who wouldn't want that? Our latest caller, Jon, certainly does, and we talked about whether or not it's realistic given his situation.
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| 0:00.0 | Welcome to the Jill on Money Call of the Week. Remember we love to hear from you. |
| 0:08.8 | Send us an email, Ask Jill at Jill on Money.com. Ask Jill at Jill on money. |
| 0:14.0 | Or you can go on to the website |
| 0:16.0 | Jill on money. |
| 0:18.0 | There's a contact us button right there |
| 0:21.0 | and tell us what you're thinking about and if you want to come on the air you can come on the air if not we'll just answer that email |
| 0:26.9 | okay all right let's go and talk to John right now hey John welcome to the program. What can I do for you? Hey Joe glad to be here. So I had a question for you. Me and my wife are about 28 and 29 years old and our goal is to reach financial independence by age 40 or |
| 0:48.9 | thereabout. |
| 0:49.9 | Wow that's amazing so you are the fire people the financial independence retire early we want to be yeah great |
| 0:57.4 | So with that goal in mind we were wondering about how we should invest going forward over the next 11 or 12 years, |
| 1:07.6 | because our understanding is a 401k, that sort of money would not be accessible until well after age 40. |
| 1:15.8 | So that's actually a very interesting comment. |
| 1:18.2 | You bring that up and I just want to point that out to people for younger know younger people listening normally will just |
| 1:24.3 | sort of say to people hey max out your 401k but you're absolutely right if you |
| 1:29.1 | tap that account before your age 59 and a half there could be a problem let me go back a second |
| 1:35.8 | so you and your wife how much do you guys make together? |
| 1:39.5 | A little over 300 k a year. |
| 1:41.7 | Okay do you both have stable jobs? Very stable. Oh I love very stable. Will either of |
| 1:50.0 | you be expecting a pension? |
| 1:54.0 | No. |
| 1:55.0 | Okay. |
| 1:56.0 | Kids yet or no kids yet? |
... |
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