23. What is FIRE (Financial Independence, Retire Early), & how do I calculate it?

“Financial Independence, Retire Early”. It’s one of those terms that sounds too good to be true, like “guaranteed return on investment” or “zero calorie donuts”. Add the fact that it forms a soundbite-worthy acronym – “FIRE” – and you’d be forgiven for smelling a Ponzi scheme.Give it a closer look, though, and you’ll find a money mindset that embodies the Get Rich Slow Club ethos. In fact, FIRE has inspired a community of long-term investors, savers, and budgeters across Australia. And best of all, FIRE doesn’t discriminate; all it asks of you is patience and consistency.In this Get Rich Slow Club episode, Natasha Etschmann (Tash Invests) and Ana Kresina (Head of Product & Community at Pearler) discuss this long-term strategy in all its glacial glory. They also help you calculate your own FIRE number, so you can work towards the right early retirement for you. Give this episode a listen, and it will give you a solid structure to plan your own FIRE!@tashinvests@anakresina@getrichslowclub@pearlerhqGet Rich Slow ClubPearlerYouTubeDisclaimerAny advice is general and does not consider your financial situation needs, or objectives, so consider whether it’s appropriate for you. You should also consider seeking professional advice before making any financial decision. Natasha Etschmann is an Authorised Representative 1299881 of Guideway Financial Services Pty Ltd AFSL 420367. Read the FSG available from https://tashinvests.com/linksPearler is an Authorised Representative 1281540 of Sanlam Private Wealth Pty Ltd AFSL 337927. Read the FSG available from https://pearler.com/financial-services-guideIf you are considering any of the products we spoke about during the show, be sure to read the Product Disclosure Statement & Target Market Determination available from the product issuer’s website before deciding. Hosted on Acast. See acast.com/privacy for more information.