What Can I Learn from the FIRE Movement?

Retirement Answer Man

Roger Whitney, CFP®, CIMA®, RMA, CPWA®

Lifeplanning, Retirementplanning, Financialplanning, Saving, Careerplanning, Self-improvement, Education, Retirementpodcast, Investing, Business, Investmentmanagement, Retirement

4.7 • 1.1K Ratings

🗓️ 28 February 2024

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Those who have FIREd like Keven Sebesta are choosing to rock life each day. In this final episode on the FIRE movement, we’ll explore what we can learn from them. Join Kevin and me to discover how you can do what FIRE is doing right.

What can you learn from FIRE?

Traditional retirement planning is all about achieving the end goal. Climbing the mountain and reaching the summit. However, FIRE embraces life today. Those in the FIRE movement see life as an endless journey to explore.

Don’t wait to explore your passions and interests. Do them now. If that isn’t possible, examine how your life is structured and begin to build a life filled with intentionality. Build connections and community based on your interests.

Listen in to learn how you can create a rich life now without waiting until retirement.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

[3:55] When I retire I will…
[5:10] Lessons to learn from FIRE movement
[13:43] What financial lessons to learn from FIREd people
[16:23] Planning from the inside out

LISTENER QUESTIONS

[22:18] What is the payoff/penalty of using my IRA to do a Roth conversion?
[30:25] Moving money from an IRA to an HSA
[34:07] On refilling the pie cake
[38:47] Make sure you have enough taxes withheld when doing Roth conversions
[41:39] Can Gail open a Roth for her granddaughter?

TODAY’S SMART SPRINT SEGMENT

[43:33] Write down one thing that you know well and question it with a mindset of curiosity

Resources Mentioned In This Episode

Arthur Brooks

Cal Newport

Designing Your Dream Life with Arthur Brooks

Mark’s Money Mind

Rock Retirement Club

Roger’s YouTube Channel - Roger That

BOOK - Rock Retirement by Roger Whitney

Roger’s Retirement Learning Center

Transcript

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0:00.0	The show is a proud member of the Retirement Podcast Network.
0:03.3	Knowledge is proud that he has learned so much.
0:10.8	Wisdom is humble that he knows not more. William Cooper.
0:17.0	Welcome to the retirement Answer Man Show. My name is Roger Whitney. By day I'm a
0:27.8	practicing retirement planner with over 30 years experience. This podcast is my lab where I noodle on how to not just
0:36.7	survive retirement and how to have a confidence to Rock retirement. I've learned
0:42.2	so much from you on this journey and hopefully
0:44.4	that you're learning from me as well. Today on the show we are going to
0:50.3	finish our series on fire, financially independent retire early movement with Kevin
0:56.1	Sebastian. He's been a great guide where we're going to talk about what you and I
1:00.8	can learn if we're not to the retire early stage maybe we're beyond that
1:04.9	what we can learn from that movement to incorporate in our lives to well rock life in addition
1:11.3	to that we're gonna answer some of your questions and have a rock life segment.
1:15.2	Now, before we get started, Nicole Rockstar Mills has assigned me another task.
1:22.0	She is very in control of things. She runs a lot of what goes
1:26.2	around here including me in some ways. So she has asked me very kindly to
1:32.3	remind you that we have a survey.
1:35.6	We're doing, I guess this is the 10th survey because this is the 10th year.
1:39.4	I don't know how many surveys we've done where we ask you what you want, what you're thinking about, what you're
1:45.0	excited about, what you're worried about, what you want more of on the show, what you want less of on the
1:49.1	show, because this show is about you and I, noodling on on rocking retirement not just in the financial sense
1:55.0	although that's extremely important but in the non-financial as well.
	...

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