The 4 levels of Financial Independence Retire Early (FIRE) NO ONE HAS TOLD YOU ABOUT! financial independence retire early

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The 4 levels of Financial Independence Retire Early (FIRE) NO ONE HAS TOLD YOU ABOUT!

Did you know there are more than one definition of Retiring Early and how to calculate it? There are in face FOUR main types of Financial Independence and one definition in particular YOU HAVE TO KNOW.

In this video I’m breaking down the concepts and maths involved in these concepts so you can aim for the one that feels best for you, and then go about achieving it with ease.

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The 4 levels of Financial Independence Retire Early (FIRE) NO ONE HAS TOLD YOU ABOUT!

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22 comments

The life of Brian 24/09/2021 - 3:02 PM

Most people work in a job they don't like retire at 65 die of a heart attack 66 not having enjoyed life

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Lutong Mybahay 24/09/2021 - 3:02 PM

Retiring early is appealing but it is scary to retire at 35. What if you ran out of money because of a market crash or health issues? Going back to work at age 40 or 50 just to save again, is so scary think about because in reality, employers would rather employ younger people or people with more experiences.

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Awaiting Input 24/09/2021 - 3:02 PM

Don't we also need to factor in inflation into the FI number? £24k won't have the same value in 20 years time when I want to retire.

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Mark Pritchard 24/09/2021 - 3:02 PM

I can't quite grasp the 4% rule..You save £500000. You draw 4% a year which is £20000. Then there's a crash and your savings drop by 50%. You now have 250000 which gives you £10000 annual interest. Surely it can't be relied upon?

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Jordan Fernandez 24/09/2021 - 3:02 PM

So I'm going down the Coast FI route but need clarification on the calculated figure. For example figures: (25×75,000)x1.07^-25 = £345,467, is this the portfolio value that would need to be attained, from where compound interest can do the work, with no more additional deposits?

@MamaFurFur

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Rachel Elizabeth 24/09/2021 - 3:02 PM

Would love to see a more detailed video on coast fire. I need you to go into a bit more depth for me to fully understand it 😂

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Cary 24/09/2021 - 3:02 PM

Interesting video. Well done. I did slow FI, basically traditional retirement.

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Tanvir Ahmed 24/09/2021 - 3:02 PM

Would you make a video for us that would teach us how not to put all of our money in stock and share ISA for life with one company , instead how it will reduce our risk if we use different provider in different tax year so that our money stays protected .. as FSCS only cover up to £85000… and what are the rules by maintaining different stock and share ISA with different provider in different tax year

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Crafty Lally 24/09/2021 - 3:02 PM

Love your content my fav channel. Could you do or have you done a video about hardware wallets and how, where, pros and cons on them Thanks

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Santa Abroma 24/09/2021 - 3:02 PM

Love this video, last method is definitely more encouraging for young people to work towards FIRE

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Panda Boss - Personal Finance & Bossing Life 24/09/2021 - 3:02 PM

Love the last method, such a good way to work things out! I'm definitely more on the journey to lean fire at the moment but I will still work odd jobs I enjoy when I achieve it so hopefully can then bump it up!

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Oggiesilverfitness 24/09/2021 - 3:02 PM

I would recommend living the FIRE lifestyle but most younger people want to live for today and therefore, wouldn't be able to save enough to retire early. I don't regret my younger self but if I wasn't so stupid spending money on short-lived pleasure I would have more money than I have now. Not that I am struggling and have all I need but could just have more. I am 60 in a couple of weeks and learned not to be stupid with money in my 30s and have enough to retire on thankfully but I am just not ready to just yet.

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Sam Sprague Finance Formula 24/09/2021 - 3:02 PM

I enjoyed this video. I personally always use the goal of
Annual spending x 25 earning 4% interest for financial freedom

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B Derodra 24/09/2021 - 3:02 PM

Let’s say your coast fire amount is £500K, is that how much you need to have in investments to be able to retire?

Also, for couples, do you work your fire amount out individually or as a couple?

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M1 Investor 24/09/2021 - 3:02 PM

I need to figure out my FI number. Scary

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Thomas Hobbs 24/09/2021 - 3:02 PM

Really interesting information, thankyou. Out of interest what is the average yearly spend for FatFIRE, maybe I missed it?

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Christine S 24/09/2021 - 3:02 PM

Excellent video! I like the coast fire concept.Thank you, Jennifer.

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David Hill 24/09/2021 - 3:02 PM

Hey! Struggling with the coast fire concept… (Might be worth a video of its own!)
The maths, I'm good with… But really struggling with the concept of "when do I need to hit that coast number…?"

Yea… I think you're going to need another video for me there lol

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AJ Hunt 24/09/2021 - 3:02 PM

Say if I have a vanguard portfolio of 4 different index funds and I’m going to withdraw 4% per year. How would you withdraw that four percent? For example would you with draw 1% from each fund?

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Stacey Livo 24/09/2021 - 3:02 PM

On our FIRE journey too and love your channel! 😊

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Freddie 24/09/2021 - 3:02 PM

Thanks! Really useful. Love the FIRE coast concept as I didn’t know about it.

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Chris Jones Finance 24/09/2021 - 3:02 PM

Amazing video… love your videos.

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