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FIRE, which stands for Financial Independence Retire Early, is a system of saving aggressively, spending wisely, and investing smartly to achieve financial freedom and retire early. One of the main advantages of the FIRE method is that it allows you to retire at a much younger age than the traditional retirement age of 65, that is, you can take your retirement at 40, 50 or even earlier. Additionally, implementing this financial independence strategy will give you a sense of financial security and peace of mind knowing that you don't have to live paycheck to paycheck or rely from someone else.

Implementing the FIRE early retirement strategy has three main elements
1. Save aggressively: This means living below your means and saving as much as you can. Ideally, you should aim to save at least 50% of your income.
2. Spend wisely: This means being intentional with your spending and avoiding unnecessary spending. To do this, you will need to create a budget and track your spending
3. Invest smart: This means making your money work for you by investing in assets that generate passive income, such as stocks, real estate or index funds. To invest intelligently, you will need to learn about different investment options and create a diversified portfolio suited to your risk tolerance.

Access my custom FIRE calculator here: https://docs.google.com/spreadsheets/d/1AxW5GDKXiKtFg-jvgkv7Q7XoMSZytUjlZTXM_k_Naz8/edit?usp=sharing

Video chapters:
00:00 Financial independence, early retirement
00:56 The FIRE method
01:52 1. Save aggressively
03:31 2. Spend wisely
04:18 3. Invest smartly
06:49 The 4% early retirement rule
08:20 FIRE calculator and how it works
11:00 a.m. Shankar's viewpoint

Additional resources and reading materials:
‣ Your Money or Your Life (book): https://amzn.to/3KZhXtg
‣ Choose FI: Your Plan for Financial Independence (book): https://amzn.to/3IpBl0S
‣ Mr. Money Mustache: www.mrmoneymustache.com
‣ Playing with FIRE: www.playingwithfire.co
‣ 1500 days to freedom: www.1500days.com
‣ 10 different types of FIRE methods: https://themakingofamillionaire.com/10-types-of-fire-you-need-to-know-about-6961943d1bf4
‣ Vanguard document on the 4% rule for retirement: https://corporate.vanguard.com/content/dam/corp/research/pdf/Fuel-for-the-FIRE-Updating-the-4-rule- for- pre-retirees-US-ISGFIRE_062021_Online.pdf
‣ Good article on the FIRE method: https://www.rd.com/list/fire-movement/
‣ Alternative FIRE Calculator: https://srinivesh.in/blog/FIRE-Calculator/

Top videos on my channel (don't forget to subscribe)
‣ Build a portfolio of monopolistic stocks (27% return): https://www.youtube.com/watch?v=R2KM1SJuED0
‣ Invest in coffee cans: https://www.youtube.com/watch?v=uZERd4pJnRY
‣ Peter Lynch Stock Selection Strategy: https://www.youtube.com/watch?v=J9rbQDCo-l8
‣ Magic Formula Strategy for Indian Stocks: https://www.youtube.com/watch?v=vqWzewMdDfk

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#earlyretire #financialindependence #earlyretire #financialindependenceearlyretire #financialfreedom

Disclaimer: I am not an investment advisor or research analyst registered with SEBI. The content published on this platform is purely educational and does not constitute investment or trading advice in any way. Viewers should do their own research and diligence before investing or acting on the information presented.

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