What Is the FIRE Movement?

02/07/24 • 57 min

3 Listeners

Have you heard of the FIRE movement? It’s become increasingly popular in the past few years. Even if you are technically too old to retire early, there is something we can all learn from FIRE seekers.

In this episode, Kevin Sebesta, a real live FIREer joins me to discuss what FIRE is, how he achieved it, and what people who retire early do with their time.

Make sure to stick around for the Bring It On segment with Dr. Bobby Dubois to learn whether supplements are worth the time and money we spend on them. Dr. Bobby helps us develop a framework for deciding whether supplements are right for us. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN WHAT I READ IN JANUARY

[2:02] Books I read last month

PRACTICAL PLANNING SEGMENT

[5:55] Meet Kevin
[9:56] Defining FIRE
[15:24] Who enjoys FIRE
[21:23] Why FIRE has caught on

BRING IT ON WITH DR. BOBBY DUBOIS

[26:12] Why are supplements important?
[30:54] How should we go about exploring supplements?
[39:44] What do the studies show?
[44:18] What about multivitamin supplements?
[48:20] What supplements does Dr. Bobby support?
[52:10] The takeaways

TODAY’S SMART SPRINT SEGMENT

[53:58] Read a book!

Resources Mentioned In This Episode
BOOK - Scarcity Brain by Michael Easter
BOOK - Moby Dick by Herman Melville
BOOK - The Eye of the World by Robert Jordan
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

In this episode, Kevin Sebesta, a real live FIREer joins me to discuss what FIRE is, how he achieved it, and what people who retire early do with their time.

[2:02] Books I read last month

PRACTICAL PLANNING SEGMENT

[5:55] Meet Kevin
[9:56] Defining FIRE
[15:24] Who enjoys FIRE
[21:23] Why FIRE has caught on

BRING IT ON WITH DR. BOBBY DUBOIS

[26:12] Why are supplements important?
[30:54] How should we go about exploring supplements?
[39:44] What do the studies show?
[44:18] What about multivitamin supplements?
[48:20] What supplements does Dr. Bobby support?
[52:10] The takeaways

TODAY’S SMART SPRINT SEGMENT

[53:58] Read a book!

Previous Episode

Retirement Plan Live: Mature Marriage - Managing Joint Cash Flow with Separate Assets

How do you manage a joint cash flow with separate assets? In addition to discussing Mark and Mary’s situation, today I chat with Kay about how she and her husband handled finances with their late in life marriage.

Kay gives us some insight on how to manage finances in a financially unbalanced relationship. You’ll appreciate her perspective on how to manage the household cash flow when you haven’t always been married.

Make sure to stick around to hear an update from Sam, our single Retirement Plan Live case study from 2018. She’ll let us know how she’s been doing, what has surprised her about retirement, and whether her retirement plan has changed. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN RETIREMENT PLAN LIVE

[6:40] A comment about this RPL
[8:12] How to discuss uncomfortable topics with your partner
[13:56] Some examples of how separate assets can work
[19:03] Chatting with Kay about her relationship and prenup
[25:14] How they managed cash flow after they married
[31:40] How they navigated the financial challenges in their marriage

CATCHING UP WITH SAM FROM THE 2018 RETIREMENT PLAN LIVE

[34:18] What Sam has been up to since we last chatted
[38:01] How she has dealt with the ups and downs of the markets
[42:26] Does her retirement plan look the same?
[44:41] What has surprised her about retirement

TODAY’S SMART SPRINT SEGMENT

[50:24] Think about how you will manage your cash flow in retirement

Resources Mentioned In This Episode
2018 Retirement Plan Live with Sam 219, 220, 221, 222, 223
Rock Retirement Club
Roger’s YouTube Channel - Roger That
BOOK - Rock Retirement by Roger Whitney
Roger’s Retirement Learning Center

Next Episode

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! 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 WITH TAYLOR SCHULTE

[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

TODAY’S SMART SPRINT SEGMENT