F.I.R.E. For Dummies

Take control of creating your own financial independence and the option to retire early on your termsThe Financial Independence, Retire Early (F.I.R.E.) movement has inspired many to optimize their finances and retire sooner than they ever imagined. This creates the time freedom and happiness you want years, or even decades, before the traditional age. F.I.R.E. For Dummies shows you how to make financial freedom and early retirement a reality. With the easy-to-follow steps in this guide, you can set yourself up to follow your big dreams without worry of money being an obstacle. Decrease debts, taxes and expenses while increasing earnings, savings and investing, is what gets you on the road toward building your wealth. You'll learn how to maximize this process and speed up your time to financial independence and retiring early. Discover why the Financial Independence, Retire Early (F.I.R.E.) movement has grown so rapidly Get concrete instructions and advice for retiring earlier or putting yourself in the powerful position to leave your job on your terms Plan and organize your finances in a way that doesn't make you feel reliant on a job to financially thrive Overcome the common obstacles for retiring early like losing social connections, filling your time, strict rules around accessing retirement accounts early or health insurance Learn from someone that has achieved F.I.R.E. and helps light the way for you on your own journey This is the perfect Dummies guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. and enjoying the time freedom it creates. Regardless of where you currently are with your money or career, now is the right time to get started.

Auteur

Jackie Cummings Koski, MSPFP, CFP, AFC, is a personal finance educator and consultant who reached F.I.R.E. in her 40s after growing her wealth to over $1 million. Her personal finance tips have been featured on media platforms like CNBC, Forbes, and Market Watch. She is author of the award-winning book Money Letters 2 My Daughter.

Contenu

Introduction 1

Part 1: Getting Started with F.I.R.E. 5

Chapter 1: What Is F.I.R.E.? 7

Chapter 2: Personalizing the Process of Reaching F.I.R.E. 17

Chapter 3: Understanding the Mindset and Psychology behind F.I.R.E. 37

Part 2: Organizing Your Finances for F.I.R.E. 57

Chapter 4: Knowing and Tracking Your Numbers 59

Chapter 5: Understanding How Taxes and Credit Scores Work 77

Chapter 6: Getting Your Hands on Documents and Account Information 93

Chapter 7: Reviewing Possessions, Probate, and a Plan for Your Estate 111

Chapter 8: Using Financial Professionals 131

Chapter 9: Celebrating Your Wins 143

Part 3: Increasing Income, Savings, and Investing 153

Chapter 10: Working Wonders by Growing Your Income 155

Chapter 11: Moving Fast by Increasing Your Savings Rate 173

Chapter 12: Investing and the Undeniable Power of Compound Growth 183

Part 4: Decreasing Debt, Expenses, and Taxes 201

Chapter 13: Are You Doomed If You Have Debt? 203

Chapter 14: Do You Have to Cut All Your Expenses to the Bone? 215

Chapter 15: Can You Really Control Your Taxes? 229

Part 5: After F.I.R.E.ing: Things to Do after Retiring Early 253

Chapter 16: Planning a Graceful Exit from Your Job 255

Chapter 17: Planning Your Post-F.I.R.E. Income and Health Insurance 271

Chapter 18: Planning for the Later Retirement Years 295

Part 6: The Part of Tens 311

Chapter 19: Ten Hot Topics in the F.I.R.E. Community 313

Chapter 20: Ten Tips to Make Your F.I.R.E. Journey Fun 319

Chapter 21: Ten Big Names to Know in the F.I.R.E. Movement 325

Glossary 331

Index 335