What is F.I.R.E. Movement?. FIRE stands for Financial Independence, Retire Early.
As per Wikipedia,
FIRE Movement, The model is particularly popular among millennials, gaining traction through online communities via information shared in blogs, podcasts, and online discussion forums. Those seeking to attain the goals of FIRE intentionally increase the rate by which they save their income through simple living or generating secondary and passive streams of income. The goal is to save an amount for which the interest generated from investments provides enough money for living expenses in perpetuity. The intention is to allow for retirement from traditional work decades earlier than the standard retirement age.
But how can you achieve FIRE? 2 things:
While there are many ways to save the income you are getting through your active job like visualizing all expenses in mint.com or an article from nerdwallet or calling suze orman.
For Earning passive income, you can invest in any of the following asset classes and the max returns you get is 9.1% annualized (Also on a Real Estate REIT). Where in Multi-Family Apartment Investments are projected at 18%+ annualized returns in addition to tax benefits using depreciation (including accelerated and bonus depreciation).
We will have to build 4.6 million new apartments by 2030 just to keep up with the strong demand-but Apartments got a long history of out-performance in returns with other commercial real estate classes as well.
Email me at firstname.lastname@example.org for more information.
Who is a Zovestor? Investor who knows that happiness is passive income and Financial Freedom!