I know this TITLE ^^ that one sounds completely batshit crazy, am I right? And yet there are thousands of people striving for this goal on a daily basis. FIRE Your Boss to Gain Freedom Over Your Precious Time. What does this mean?
This is actually a plausible accomplishment. FIRE stands for Financial Independence Retire Early. Wait, what did you just say? Retire Early?
That’s correct. I want you to Retire Early!
In North America, approximately 75% of the population will retire near the age of 63. This is the predetermined and mandated age by the Federal Government in both Canada and the United States. Every so often this age date fluctuates. Around 5% of the population will stick it out into their mid-60’s then retire. And another 5% will hang tight until they get into their 70’s and lastly but not leastly there is a handful of folks whom will continue to work into their 80’s or until some kind person they work with will respectively show them the front door and say fly little birdie.
There is a more or less 10% of the population whom will actually achieve enough money to retire early and will push themselves out the door, to take the leap of faith with their investments as their source of income and complete the FIRE movement.
Those people, they will gain their independence over the most precious commodity of life: Time.
And with this new found commodity they will write books, travel to New Zealand or Zimbabwe, teach children in Kenya, walk the temples of Tibet, drive a camel through a dessert or stay home in their own country to walk their dog, see their kids, join a jogging group, take a pottery class, volunteer their time and/or finally clean out their hoards of “treasures” left in their attic.
For many people this FIRE movement is a farce, or a fantasy someone dreamed up. To them its some unattainable event in the lives of only the wealthy. Those damn one-percenters.
What if… just hear me out now… What if YOU could be a part of this FIRE movement?
Would you lay down $100 tomorrow?
Would you scribble down into your 2021 Goals … I WANT TO RETIRE BY AGE 55! And join this mystical cult of people whom are working daily to achieve these goals and retire early.
What if I told you, you could work ANYWHERE and achieve this goal with the right planning and a bit of investment knowledge. Heck, you don’t even need this knowledge yourself because you could simply sign-up for a Wealth Simple or CI Investing account with a Robo-Advisor and start stashing that $100 tomorrow, then a simple $25 a week reoccurring from your bank account into your new investment portfolio. Over time, you will accumulate wealth.
What if I told you, you could be a janitor making $35,000.00 a year. Or a Graphic Designer making $55,000.00 a year. Or even a Doctor making $120,000.00 a year. It really doesn’t matter how much you make. As it really depends on your ability to Pay You First, then cover off your monthly overhead (debts, bills, loans, mortgages, etc). All it is is reinvesting $5 bucks on future you’s lifestyle rather than present day you’s thirst for coffee, or a pack of smokes, or those 3-candy bars. Literally present day you could take $5 a day, at age 20, and in 40-years… have $948,500.00
WAIT, did you I just say YOU could be a Millionaire ???
Damn Straight! Bingo! Correct-O!
That’s what FIRE is all about.
Its about you walking into your bosses office in 5, 10, 20 years and handing him a letter at the age of 55, 45, 35 years old and saying… “YOUR FIRED!!! ah-hahahahaha! Here’s my resignation letter boss. Its TIME to head to Guadalupe, Mexico tomorrow to visit the beach and sip on those coconut drinks with an umbrella straw, write my memoirs and do a bit of snorkelling!”
Yup, that could be you. Firing your boss in the future.
I’ve read a ton of financial books in the last 8-years and one of my all time favourites, is called The Latte Factor by David Bach and John David Mann.
No, they didn’t start the FIRE movement. Their book is a story based around a few characters in New York City. This older guy at a coffee shop enlightens a young woman whom always comes in for her $5 coffees on a daily basis. He schools her about finances and looking differently at what she has around her, what her situation is and how to overcome it. What’s particularly awesome in this book is there is an appendix. I know, a “fiction novel” with an appendix! It sounds completely ridiculous until you read them. Understand them. And believe in them. Then you realize this is AWESOME and AWE-INSPIRING. Heck this is inspirational information.
These appendixes will make YOU grab that old jar of quarters on the windowsill and invest them.
All it takes is $5 a day deposited into your investment account a bit of interest over 10-years would be good, 20-years would be better, 30-years would be great. And at the end of those decades YOU will have the ability to FIRE your boss and gain back YOUR most precious commodity of life: TIME.