#526 - The Benefits of FIRE

Now that we know what FIRE is, let’s learn the benefits. In this episode of Retirement Answer Man, Kevin Sebesta joins me to discuss the benefits of FIRE.

Afterward, Mark Ross comes aboard to noodle on why creativity is important in retirement. And finally, Taylor Schulte from the Stay Wealthy podcast helps me answer some listener questions. Don’t miss out on this informative episode!

What are the benefits of FIRE?

Members of the FIRE movement see early retirement as a journey rather than a destination. They are happy to explore life’s paths as they come to them.

FIREers have deviated from the standard path, allowing them to use their abundant free time to explore their passions.

By leaving the structure of the traditional 9-5, financially independent people have more time to dedicate to themselves. They can pursue their interests and devote more time to their health by pursuing activities both creative and active. Listen in to hear how those who have retired early choose to spend their time and energy.

OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN

PRACTICAL PLANNING SEGMENT

[1:41] Life as a journey
[3:00] Benefits of retiring early

BRING IT ON WITH MARK ROSS

[19:09] Why is creativity important?

LISTENER QUESTIONS

[25:52] About the Retirement Podcast Network
[28:43] How to choose between investing in a Roth 401K and a traditional investment account
[33:55] Timing a reallocation of assets
[39:45] A good, detailed, free retirement calculator
[44:55] Why Rosie didn’t hire another financial planner