lorawilliams
New member
For those of you interested in FIRE [Financial Independence/ Retire Early], we're hosting a meetup at Foresters Arms in Newlands, Cape Town on the 19th of December 2018, 7:30-9:30 pm. We've organised this through the Fat Wallet Show community on Facebook, where you can RSVP. Come and discuss your plans for FIRE, learn how to start investing, or just chat to others with a similar interest in active personal financial planning. We're all newbies (of all ages and backgrounds) and there aren't any talks or workshops planned; so don't expect any professional financial advice, but come for the vibe and you might pick up some tips from others.
What's FIRE?
If you're a reader of the Stealthy Wealth blog (or the American equivalent, Mr. Money Mustache), you're probably familiar with FIRE. I might butcher the concept here so do your own research, but the basic premise is living frugally and investing while you're young, so that you have financial freedom in the future. Financial freedom/independence means having enough in savings to not have to work for money, using the 4% draw down rule.
Some FIRErs have the goal of retiring for good by a certain age; some have the goal of quitting their day jobs to safely pursue their dream career, to travel, or to work for non-profits (my personal goal!); some just want to save like mad while they're young so that they can stay home to raise kids or work on their hobbies.
While it sounds absurd, it is possible for ordinary, middle-class people to reach financial freedom. You don't need to be a business owner, a property mogul, or a trust fund baby, but it takes a lot of sacrifice and a little legwork on the investment side.
For more info, check out r/financialindependence.
Further resources: r/leanfire and r/Frugal for more simple lifestyle fans
r/FIREyFemmes for a female-orientated FIRE community
http://www.stealthywealth.co.za/2016/10/10-steps-to-financial-freedom.html for Stealthy Wealth's guide
https://www.facebook.com/groups/thefatwallet/ to RSVP for the meetup
Drop me a message if you want more info
What's FIRE?
If you're a reader of the Stealthy Wealth blog (or the American equivalent, Mr. Money Mustache), you're probably familiar with FIRE. I might butcher the concept here so do your own research, but the basic premise is living frugally and investing while you're young, so that you have financial freedom in the future. Financial freedom/independence means having enough in savings to not have to work for money, using the 4% draw down rule.
Some FIRErs have the goal of retiring for good by a certain age; some have the goal of quitting their day jobs to safely pursue their dream career, to travel, or to work for non-profits (my personal goal!); some just want to save like mad while they're young so that they can stay home to raise kids or work on their hobbies.
While it sounds absurd, it is possible for ordinary, middle-class people to reach financial freedom. You don't need to be a business owner, a property mogul, or a trust fund baby, but it takes a lot of sacrifice and a little legwork on the investment side.
For more info, check out r/financialindependence.
Further resources: r/leanfire and r/Frugal for more simple lifestyle fans
r/FIREyFemmes for a female-orientated FIRE community
http://www.stealthywealth.co.za/2016/10/10-steps-to-financial-freedom.html for Stealthy Wealth's guide
https://www.facebook.com/groups/thefatwallet/ to RSVP for the meetup
Drop me a message if you want more info
