The FIRE Movement Is Dead!! (What You Need to Know)

Guess im good because i dont like talking to many people, especially work. People that talk alot bother me to no end lol

All of that analysis around how much you need by 40, 45 etc. assumes your portfolio needs to last your whole life? What about those who just need a gap portfolio to get them from retirement (let's say age 40) to age 59.5 (when you can start pulling Roth/401k/HSA funds)? My plan is just that... I'm maxing my taxable accounts, so they'll be huge by the time im 59.5 even if I stop contributing to them at 40. So my brokerage just needs to last me 19.5 years...

Original FIRE is way too small for me; I enjoy the full life I’ve built. But Coast FIRE is looking really attractive, especially since all my savings are locked up until 59 1/2 anyway.
One of the benefits of remote work is that I’ve had to learn how to build friends outside of work, so I’m not worried about the social isolation that many retirees face.

Financial Independence, Retire Eventually

"Why did people get so bought in to FIRE and retire early?" has an easy answer. People are sick and tired of churning out time and effort for these dog shit corporations that do their damnedest to make it so the lowest of those on the totem poles get next to nothing to show for all their blood and sweat. No one WANTS to work for Walmart for 45 years. No one WANTS to work for Amazon for 45 years. No one WANTS to work for Target, Starbucks, UPS, or FedEx for 45 years; especially when every single one of those most-employed corporations have proved time and time again that they couldn't give two shits about the employee.

I will be financially free in 5 years I'll be 45. It's up to me then what I wanna do. I might buy a lawnmower and cut grass for the neighbours or not, it will be completely up to me.

To go from a 4% withdrawal rate to 3% just means 3 more years of working.

Remember as you're showing the examples of retiring on 75 or $100,000 per year, the purchasing power of that will be much lower in the future especially for a 30 year old retiring at age 50 or 55. That needs to be factored in

I retired at 28 years old, and quickly realized how unfulfilling it was. Now I use it as financial freedom to take risks knowing I can safely fail.

The muppets are named Statler and Waldorf and FIRE isn't dead by a longshot.

This is a silly conversation

"Retirement isn’t an end goal, but a journey best secured by careful and consistent investments."

I cannot begin to understand where you got the 2.5% withdrawal rate for a 35 year old. Needlessly conservative

Do you withdraw the 3, 4, or 5 percent in the beginning of the year? How this work? Thanks

Fire content 🔥

Retired at 39 for 18 months. Went back to work for 5 years.Retired again for 6 years. Went back to work and have now decided to be semi-retired at 59. I hope the retirement police don't catch me :-).
To each his own but the FIRE movement has a lot of good values to teach everyone. Being FI young, is liberating and builds your confidence immensely.

I don't even make $5,000 a month. That's nuts.

Men,never get married! Divorce and all the related stress along with the financial hit will rock your world... For the worse!

I'm actually on goal to FIRE when I'm 40. But, I actually like my current job, so I'm not likely to leave it anytime soon.

Very nice but aren’t these “covered expenses” all “Before Tax” though❓100K a year will become just $70K after tax…

50 amd happily entering my semi retired era. Stoked actually.

Jebus, most of the stuff you guys are talking about is exactly the same for EVERYONE who retires REGARDLESS of age. Not jjst those who retire early.
"You have to know what your going to do with your time"?
That has nothing to do with FIRE because it applies exactly equally as much to someone who retires at 70 as it does to someone who retires at 35. That's just good retirement advice Period. It's no more exlusive to FIRE than it is to people who retire at 80.

It’s dead because 99% of people can’t save during Covid 19 and recession we are having

You could join the military at 17 and retire with a pension and healthcare for life at 37. You could also invest heavily in TSP and you would have a very nice little nest egg. But that’s only if the ONLY thing you care about is retiring early.

I AM SO EXCITED

The Premise of This Video is Wrong.
"Fire Movement is Dead" is quite different from ¿Is Fire movement Dead?
This is low-level Clickbait

One of the most unattractive qualities is being a cheap skate. Life is not cheap. Balance is important.

Guys...2.5% SWR at 35. Let's all admit that is a bit extreme. A 3% SWR has never failed in history....ever. I don't think a 3.15% SWR has ever failed in history. Sure there is risk that expenses will increase over time...and that risk is certainly higher at 35 than 55. But that chart was a bit broad and extreme. It needs to be hyperbolic and basically approach ~3%. Even 2.75% is crazy conservative.

I know you all have likely read the Big ERN series on SWR, but might want to just refresh on it. A 2.5% SWR isn't about reducing risk. Choosing that SWR is about passing on generational wealth. Also, one doesn't assume a rate of return with a SWR. It is a rate that is established from back testing historical returns. So I don't understand why you kept saying it assumed 8% returns.

I assume the idea of a 2.75% SWR is because of taxes? If a person is FIRE-ing with investments and they pivot correctly to focus on long term cap gains, then that taxation assumption is not correct and way too aggressive.

FINE 🙂

Easy for you to patronise when you are financially well-off, owning your own talk show, while others are stuck in the grind of wage slavery which they are trying to escape by FIRE.

Dream on that FIRE is dead. People will never stop seeking freedom from exploitation of wage slavery.

I considered FIRE, but honestly don't want to sit around my house all day doing nothing or worse, wanting to do things and constantly worry about my long-term money.

I might be one of the few people who noticed this, but all these“FIRE movement is dead” videos have become click bait. Or propaganda, if you are a Ramsey fan.

No it's not 😄 Living the FIRE life here, and I'm now helping my Gen Z and Gen A family members get into it early so they can quit working in their 30s.

Could you do that chart for 60 & 62 yrs old

Food for thought for sure!

The FIRE movement was born out of the book "Your Money or Your Life". I highly recommend reading it. While I appreciate what is being shared in this video - it misses the essence of the movement and why life is meant to be more than what is presented here.

This sounds like the newer version of buy lottery tickets. 🤣😂😆

Why not buy Bitcoin and hodl that. Every asset that doesn’t have a fixed supply (Dollar Bill) is only going to go down. You can’t hold money in cash or even following the index of S&P500 if you expect to be rich in life. What is a 7-10% return per year if I can avg over 100% year or year with Bitcoin….literally makes no sense to invest in any other asset. Real estate wishes it could, and you only capture the realized gain once you sell the house. I want something that doesn’t depend on earning calls, net profit, and doesn’t go down for several years at a time. I want something that the government can’t create, can’t confiscate, and can’t devalue over time.

I'm 35. I'm looking to have 500k built up by 45 and then I only need to make it to 65 for my Social Security to kick in.

what if you work from home and have no cowokers?

If you never reach financial independence you'll never retire. You get to choose when that is.

Maybe I'm just weird, but I would have ZERO issues being retired starting tomorrow. There are a billion films to watch, games to play, places to visit, people to meet. If you retire and don't know what to do with yourself, then that means that you made work your entire identity.

I dont see the FIRE movement as dead. FIRE is not longer applicable to middle class families. Inflation has hurt many families. Over the past several years inflation has taken about 20 percent of your income. That 20 percent most be subtracted from your FIRE contribution. Now you are no longer on FIRE.

So we're making judgements based on 28% of people being unhappy? That means 72% are just fine with their retirement. Come on guys.

at 37+, i agree with what the money guys say. it is hard to preempt the changes and budget needed despite me knowing my steady state as of today. The most comforting way for ppl around this age is either you have large chunk of $ for FI that you do not worry with withdrawal rates of even 2.5-3%, else I think being able to rake in a monthly income to cover at least your monthly or annual expenses (aka semi-retiring or recreational employment) will be great so you leave the retirement pot untouched and have it grow while you find meaningful work/things to do.

You guys really do a good job of stating your assumptions and forecasting a range of possibilities. Kudos for not assuming your audience is dumb and can handle a more numbers on the screen.

How are people supposed to find their purpose in life without the time to do so? Your suggesting to delay retirement until you find your purpose?

Such an amazing video. Tells you exactly what you need number wise.