FIRE

Financial Independence Retiring Early

Notes from Graham Stephan’s video on how to retire in 10 years Link

Income vs Savings

Income is how much you bring home Savings is how much of that income you are able to save Eg: You can make 250k and still live paycheck to paycheck depending on your lifestyle

1. Saving
   1. It depends on how much I have to save to maintain my current lifestyle
2. Cutting Back
   1. Do anything possible to save more money
   2. Eg: House Hacking; Buy a duplex move into 1 side and rent the other sides out
   3. Rent Hacking: Rent the house and sublease out the bedrooms
   4. Drive a reliable used cars
   5. Make food at home
   6. Credit Card Points
   7. Wait 1 week to buy things so the desire to buy it goes away
3. Avoid Debt
   1. Only acceptable debt is something that makes you more money
4. Investing
   1. 401k
   2. Roth IRA
   3. HSA Account
   4. Consistency is key
   5. Don’t time the market
   6. Free Index Funds
   7. Work a career that pays you based off results
   8. Think like a creator not like a consumer
5. Income
   1. Try to maximize your income