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Money Guy Show

The Truth About the FIRE Movement

Money Guy Show

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

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 7 June 2019

⏱️ 64 minutes

🧾️ Download transcript

Summary

The FIRE Movement. What is it? Who’s doing it? Should I do it? Is it good or bad? How do I do it? These are all questions you may ask yourself when you hear people talking about the FIRE Movement. We cover all of this and so much more in this week’s episode of The Money Guy Show.

You may notice that we have a special visitor for this episode. Brian is out of the office visiting his favorite mouse (if you guessed Mickey, you'd be right)! Gabe Talley from our team joins us and shares his vast knowledge on this subject with our Money Guy family. You don’t want to miss this episode of the Money Guy Show.

For more details, please visit the show notes on our website: https://www.moneyguy.com/2019/06/fire-movement/

Transcript

Click on a timestamp to play from that location

0:00.0

The fire movement. What is it? Who's doing it? Should I do it? Is it good or bad?

0:06.7

How do I do it? All that and more on today's money guy.

0:10.4

It's Brian Preston, the money guy.

0:13.9

Restoring order to your financial chaos. Retirement.

0:17.8

Investing. Taxing. You've got financial questions. He's got financial answers. It's Brian Preston, the money guy.

0:26.6

I got to stop giving Brian such a hard time because that's actually a lot harder than it looks.

0:30.0

I wasn't planning on like having an issue with it, but I kind of got froze up and nervous and should I redo?

0:35.8

Is there okay? Okay, Morph says it's okay. Well because we're live before if you're on YouTube watching and so there's not really like a warmup

0:42.9

period because there's a little bit of chatter before the show. That's right. And so you kind of hit the five four countdown thing and then you just have to go.

0:50.6

If you are joining in with us today and this is the very first time you're interacting with the money guy show you're

0:56.4

a little bit of a treat because this is not the normal cast of characters. The money guy himself, Brian Preston is actually not with us right now.

1:05.2

He is out in the middle of the ocean with his very favorite mouse, but he didn't want us to forget get about him.

1:11.0

So he wanted us to share this with you guys up on the screen.

1:15.6

You can see there he is Brian and his lovely wife Jennifer and then also I think that's Brian with his doppelganger buzz light here and his daughter as well.

1:25.3

And they're having just a wonderful time. And so he said, you know what guys it rather than me trying to reschedule recording rather than trying to shift this around.

1:33.3

You know, we have a really unique thing going on with Gabe at our office and kind of the way that he is sort of evolved in terms of

1:40.8

working as a advisor of our firm and sort of a specialty that he has. So why don't I step out and why don't I let Gabe answer a question and talk through something we've been dealing with a lot over the past couple years.

1:51.2

Yeah, definitely growing in popularity this whole movement, right. This whole fire thing. So today just kind of trying to talk you through what it is, what it looks like.

1:58.6

Things you should think about if it's something you're interested in and a step she need to be taking now to get prepared.

2:04.5

Yeah, I think what's really interesting to me and what was hard is if you go out there and do any sort of googling on the fire movement, there are just tombs of information.

2:12.6

And no one does it the same. No one defines it the same. So we tried to distill it down to six things and I had to give myself a sticky note because we started doing the notes and in true money guy fashion our notes went from one page to two, two pages to four, four pages to eight.

2:25.9

And so we said, okay, well, we got to figure out how we can distill this whole thing down to make it useful to not only folks in the fire movement folks who know about it,

...

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