Is the FIRE movement dead? In 2024, more people are catching on to the huge downsides of pursuing financial independence, retire early. Strict frugality, massive sacrifice, working harder than ever…is it really worth it to retire decades before everyone else? If you’re internally screaming, “Yes! Of course it is!” you’re in good company. Today, we’re talking about why FIRE is NOT dead in 2024 but why most Americans won’t achieve it.It’s easy to claim that the FIRE movement is dead in 2024 when inflation has been high, savings rates are low, and there’s economic uncertainty all around. The problem? Almost all of that can be easily factored into your FIRE plan, and with some sacrifices, you could easily retire early in five, ten, or fifteen years. So, if FIRE is still possible, what must the average person do to achieve it?We’ll discuss the mindset shift you must undergo to reach financial independence, the sacrifices you must prepare for, and what we would have done differently on our own paths to FIRE. Achieving financial freedom doesn’t need to be an all-out grind with zero enjoyment. Even if you make minor money moves today, you could be retiring YEARS earlier than you thought possible!In This Episode We CoverAn update on the FIRE movement and whether or not FIRE is possible in 2024The 4% rule explained, and why it works EVEN during high inflationThe sacrifice that most Americans will NEVER make to retire early How to achieve FIRE even if you have an average income The “grind” that gets you RICH and how to tell you’re on the right track for FIREHow frequently to check your investments/accounts (and whether it really matters)And So Much More!Links from the ShowBiggerPockets Money Facebook GroupNetwork with Other Investors on The Path to FIRE Through the BiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott on BiggePocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Find an Investor-Friendly Agent in Your AreaFind Investor-Friendly LendersProperty Manager FinderApply to Be a Finance Friday GuestBiggerPockets Money 120 - Are FIRE Naysayers Bad at Math? Yes. with Michael KitcesBiggerPockets Money 169 - Breaking the Taboo of Talking About Money with Friends, Family, and Bosses w/Erin LowryBiggerPockets Money 243 - Ramit Sethi’s Money Advice for Couples: Live a Rich Life, TogetherBiggerPockets Money 516 - Jaspreet Singh: Getting Rich Slowly and Why Some People STAY BrokecFIREsim (FIRE Calculator)My Death March to Financial IndependenceEmail [email protected] for the “4% Rule” Article00:00 Intro04:19 Is the FIRE Movement Dead?10:93 Do You Need a High Income?16:36 Should Everyone Pursue FIRE?24:44 How Average People Achieve FIRE30:04 FIRE in 202435:54 Retiring Early During Inflation 38:38 You CAN Achieve FIRECheck out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-549Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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