Hey Amanda. Perhaps worthy of noting is the objective to increase passive income to support your lifestyle. Another concept is what realm of FIRE are you driving for, lean vs FAT FIRE. The only way to retire young (like MMM) is to have a mother load of investments/assets or to have a very lean lifestyle. One thing that I look at as a risk for young FIRE folks is health and health insurance and inflation. The concept of lean FIRE is understandable when you are in your 30’s, but they don’t acknowledge the potential and inevitable health decline in your 40’s, 50’s and beyond.
Hey Amanda. Perhaps worthy of noting is the objective to increase passive income to support your lifestyle. Another concept is what realm of FIRE are you driving for, lean vs FAT FIRE. The only way to retire young (like MMM) is to have a mother load of investments/assets or to have a very lean lifestyle. One thing that I look at as a risk for young FIRE folks is health and health insurance and inflation. The concept of lean FIRE is understandable when you are in your 30’s, but they don’t acknowledge the potential and inevitable health decline in your 40’s, 50’s and beyond.
This chart puts a value on the type of FIRE. https://www.google.com/search?sxsrf=AOaemvJKxKQua-AtygyH7c7QjaWATZivgg:1632844574567&source=univ&tbm=isch&q=FAT+FIRE+diagram&hl=en-us&client=safari&fir=PyYEo6dC66h2bM%252CIa9M8txnV1jnYM%252C_%253Bwc0DdfNCzk_-tM%252C9ZmfN4oPR2imyM%252C_%253BVK7ZhZNVBmYZGM%252Cfs0Gh9x_tVwQaM%252C_%253BkvwaDozc7WzoQM%252C9-cxD9TorQy-DM%252C_%253BU8e_Wp2al5znmM%252CNFgSAwmGSRdnyM%252C_%253BX0ZDcDnwtB-Q2M%252CajlmnyTcubOQyM%252C_%253BPWqHIcF5i7DxgM%252ClIsibmFiV5mBHM%252C_%253Bl-Zcmoafib_FXM%252ClIsibmFiV5mBHM%252C_&usg=AI4_-kRrhb8qa119_bZ8BnXf4_QJn3KttA&sa=X&ved=2ahUKEwjW7NuGhKLzAhXuRt8KHWemCkUQ7Al6BAgIEEs&biw=375&bih=628&dpr=2#imgrc=XzZ6Y3r2qEz27M
Be well!