How to Achieve FIRE By Income (Are You on Track?)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 16 June 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Do you want to retire early? If so, do you know what it is going to take to get there? To know if FIRE is right for you, you need to be aware of common blind spots, pitfalls, and know how far your savings rate will get you at different levels of income. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	We are getting crazy.
0:02.0	How to achieve fire by income.
0:05.3	I'm so excited about this show because this is something that I think our audience
0:16.3	particularly wants to know all about.
0:18.3	They understand that the financial independence, retire early movement is a thing, has been
0:23.4	a thing, gets a lot of attention.
0:25.2	And so a lot of people are wondering, okay, how do I do it?
0:27.8	Is it something that I can achieve based on my current circumstance?
0:32.0	And if so, what are the steps I need to take to get there?
0:34.8	How do I actually do it given where I am?
0:37.6	We've done a number of episodes on fire and I know that it's something that gets people
0:41.5	excited.
0:42.5	But one of the things, because we're big on talking about this is a measure twice
0:46.6	cut once moment because it's a big decision to leave the workforce.
0:50.7	So when we start thinking about, hey, how can we do the fire discussion?
0:54.2	One of the things that keeps coming up is, man, you have to get committed.
0:57.4	This has to be a very hard thing.
0:59.4	Why don't we actually show people case studies at different income thresholds?
1:04.8	So you can know what is actually needed for me from a discipline, from just making
1:09.2	sure you have your perspective right to make this big joke.
1:12.7	But the first thing you have to do before you even start going through the mathematics
1:15.4	and the numbers is you have to kind of get the mentality right.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.