/biz/ - Business & Finance

Work wagie and slavie wavie

unless you're making at least $10,000 a month from making youtube videos or working a governement job, the FIRE movement isn't exactly for you. remember, it takes money to make money and most of those FIRE starters already had tons of disposable cash to be living like poorfag and dumping it into index funds

>>25484390
You need about a mil if you want to retire and not work. And you have to live on a budget - around 2200/m. Doable in european cities that aren't bad. Think Italy and Greece. Look up the 4% rule.

Easier if you can work from home (are a digital nomad), or genuinely enjoy doing/creating something that has some sort of a revenue.

Not easy, but possible if you really want it. Most people are perfectly fine working till they're 70 though. Goes by fast.

>>25484390
Its real, I did it, but I wouldnt have done it without a LOT of help from crypto. Also having a high salary to throw a ton of money into crypto is essential.

>>25484390
right now doge

>>25484390
No. It’s retarded. You’re fucked if you need healthcare or any substance. Reddit needs to be used sparingly, it’s turbo normiepilled.

>>25484390

People sell mediocre software businesses for millions of dollars all the time

You can retire within a few years if you make a successful business but it requires being self motivated to do hard work for months/years with no guaranteed payoff

FIRE is basically work some wagie job and save a lot. I guess it's good advice if you're a gay ass normie

It requires a low cost of living and high rate of savings.

Please give me business ideas /biz/ to break out of wagecuckery. I live in a third world shithole so finding cheap labor is easy but I need ideas to capitalize on that.

>>25485236

asking for a generic idea is useless . you have to take into account your skills and knowledge , who you know, the environment you're in, etc. Try to identify any strengths/advantages you have and capitalize on them. Could be things you know how to do, or people you know that could help you, as so on.

>>25485331
I know how to code but that in itself isn't enough. You have to be an expert in another domain where you can automate the things people would pay for. That's why I asked for generic ideas I guess.

>>25485885

well, try to figure out what you like, and whats meaningful to you.

when you run your own business, you need to excel, you cant just skate by on the bare minimum like you would as a wagie. and to excel you gotta do something you actually care about, that you could work on all day every day and not get tired because it makes you feel good about life. people master things that they really love, not the stuff theyre forced to do to pay the bills.

>>25484390

>>25486223
Also most of those fire fags were just lucky enough to start invest at the tail end of the housing crisis in 2008. They've been riding the wave up, and their entire premise is that the wave won't come back down.

>>25484390
yeah it's possible but it sucks. you have to watch every expense and keep it to a minimum. you have to keep working for years without enjoying any of your money. even when you "retire" you can't enjoy your money since you barely have enough to live frugally. I'd much rather keep slaving with a high salary and enjoy life once in a while, than aim for FIRE.

People retire in their 30s because they got well paying jobs in their 20s and invested for 10 years. If you think you need an "idea" to get rich quick then there is no hope you are already a lost cause.

fire stands for

Faggots
In
Rectums
Erect

It's a movement from the san fran underground scene in the 90's back when that shit was "taboo". guess it's caught on now. whol'da thunk

get to 25x expenses and you never work again
but don't do it like a redditard faggot saving 30% for 20 years and buying vanguard etfs

>>25484390
FUSE, desu. Especially at this price.

>>25484577
>Goes by fast.

>>25486349

It's way easier to get rich with your own business than by waging. A business idea doesn't need to be revolutionary, it can just be an improvement upon some existing process. Or you can literally just do what other people are doing provided you can get clients. With your own business, the upside isn't capped, and you pay less tax.

>>25486462

>>25484390
Easiest way is to be a landlord.

FIRE and real estate influencers were lucky enough to have money and start buying the post-2008 bottom, the beginning of the longest bull run in history. It's easy to seem like a guru when the chart goes up in a straight line.

FIRE is a worthwhile plan but here's the hard truth: most people can only dream of FIRE'ing if they're willing to live like a broke college student for the rest of their lives. The median US household income is approximately $63k. You have to be willing to save at least 70% of the income to be on the path to retiring early and you have to live the rest of your life according to that plan. The only other path to accelerating your retirement is massively increasing your income, and the ways to do that are 1) taking a lot of risk (e.g. entrepreneurship, trading), or 2) being really talented or lucky in your career. The reality is that the statistics are not in your favor if you want to focus on the income side, but you have no choice if you want to get ahead.

If stocks or real estate crashes 30-50%, these people who retired early are probably going to be fucked, have to downsize, or return to the workforce. Not only that, if you live in the US, a health emergency could also potentially wipe you out.

passive income

>>25486281
That's definitely true but a lot of them are older and also bought the dip of the dotcom bubble/rode it from the beginning.