/biz/ - Business & Finance

"FIRE" is for yuppies who think retirement is living off a pile of "wealth".

If anything, this has accelerated my retirement. I'll be self sufficient within a couple years.

>>18041010
Depends, I have about a million in assets that was untouched by the current economic climate and pays me 3500 USD a month until the end times on top of the career I already have and it appreciates just the same. I think people rely too much on traditional FIRE methods which is put everything into an index fund and lets withdraw 40000 USD a year etc...

Retards too stupid to realize that the best way to retire early is to buy property and live off rents. I have 5 properties and make over 5k a month.

>>18041010
Maybe? My Roth IRA was $50k, now it's $25k. I got burned on "aggressive". Plan is fucked

>>18042018
This isn't economically feasible en masse.

You're literally telling other people to compete with you.
Gee sure sounds like some landlords really don't know what's good for them big surprise there.

>>18041010
I doubt this will kill it. FIRE has a good long term value because it gets people out of the work force sooner and thus decreases competition. I can see it being refined to considering early retirement at 50 which in the grand scheme of things isn't bad either. The anons pointing out that having consistent cash flow (preferably multiple sources) are right.

>>18042018
jesus christ, did you buy the properties outright? otherwise how much do you pay monthly for your mortgage? does 5k even cover the minimum payment?

>>18041658
Real estate?

Aren't these people stung worse than literally anyone else right now? If someone has been averaging into investments for the past five years they would be down instead of just holding cash.

>>18042145
>This isn't economically feasible en masse.
have you never heard of third worlders? You can pack 12 of them into a townhouse like its a can of sardines. Each one pays $200-300 in rent.

>>18042549
It was always a scam to trick retards into buying overvalued bags, similar to the guy talking about real estate in this thread

imagine getting roped into one of these scams

>>18042018
this
in a down turn, you just get a higher quality of tenants, those who could afford better when business was good
I'm working on a mix of real estate and fire.
I have two appartments, the first one pays both mortgages in rental income, live rent free in the second.
I want to buy a little house out of the city, paid in full, and live in it, on the rental income of the second appartment. It wouldn't be much , but still more than enough to cover the basics and leave my " career" behind, just work an odd job here and there to finance some travel or project

>>18042549
Yes because one of the most popular schemes ia detailed in >>18041658 where you dump everything into index fund and withdraw some set amount regularly. Basically 100% stock exposure which would pretty much get wiped seeing as the market lose over 30% of its value from its highs. I don't think you can make the numbers work and a lot of FIRE people will have to come out of retirement.

#Tachyon is building an alternate stack to disrupt traditional communication protocols over the internet.

>>18043125
How is FIRE a scam? Who is selling it and making money off it from others?

>>18041618
Labouring to stay alive isnt retirement

>>18043427
People that dumped on these faggots at the top
Dave Ramsey et al