this post was submitted on 08 Apr 2024
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FIRE (Financial Independence Retire Early)

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Welcome!

FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.


Flow Charts:

Personal Income Spending Flow Chart (US)

Personal Income Spending Flow Chart (Canada)

Finance Flow Chart (UK)

Personal Income Spending Flow Chart (Australia)

Personal Finance Flow Chart (Ireland)


Useful Links:

Bogleheads Wiki

Mr. Money Moustache - a frugal lifestyle blog

The Earth Awaits


Related Communities:

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[โ€“] yenahmik 2 points 9 months ago (3 children)

Decided to play around with AI and asked it to create some outlines for a couple of story ideas I've had bouncing around in my head for years. Damn, they were pretty good. I may have to use this as inspiration to actually write these stories instead of waiting until I reach FIRE.

Side note: I tried asking it to do my job, and was decidedly not great. Granted I had to give it generalized instructions, but still. Fairly safe to say that AI can not replicate the domain knowledge of a human in my role just yet.

[โ€“] yenahmik 2 points 9 months ago

Lol just asked it how much I should have saved now if I want to retire at 40. I don't think you should take AI's advice when it comes to retirement...

Here's a rough estimate to get you started: if you plan to retire at 40 and spend $30,000 per year, you'll need to save around $180,000 by then. This is simply your annual spending multiplied by the number of years until retirement. However, this is a simplified calculation and doesn't take into account factors like inflation, investment returns, or your desired retirement lifestyle. To get a more accurate idea of how much you need to save, you can use a retirement calculator or consult with a financial advisor.

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