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Welcome to this session of grand rounds, a collection of posts I have discovered in the blogosphere and have found of interest and hope you do too.
This offering of Grand Rounds looks at articles from around the web that deal with those pursuing FIRE.
What came first, the chicken or the egg?
A similar line of thinking may have you wondering what came first for those who achieve financial independence, earning more or spending less?
Accidental FIRE hits this topic head on in, “Earning More And Spending Less To Achieve Financial Independence, The Order Matters.”
When I first started my FIRE journey, I just pulled a number out of thin air to shoot for, $5M.
I picked that particular level of wealth because we all have an obsession with particular numbers, especially those that end in “0” or “5.”
Well apparently achieving a net worth of $5M is popular among people who wish to FIRE.
Physician on FIRE devotes an entire post on hitting this milestone that is peppered with the number 5, “5 Ways to Retire With $5 Million by Age 55.”
Most, myself included, feel that early retirement is the golden carrot at the end of the FIRE journey.
However there are those that achieve Financial Independence and feel that is a worthy goal in and of itself and are content without the need to retire early
Financial Success MD elaborates on this in, “The True Power of Financial Independence (FI) is NOT Retirement.”
The biggest boost for my path to wealth came when I decided to create multiple passive income streams to supplement my W2 wages.
Positive cashflow entering my house came from multiple real estate investments as well as dividends from the stock market.
I realized I was financially independent when I realized that the income from these passive streams exceeded my annual household burn rate.
So how does one get started in the process of creating these streams?
Fear not, Debt Free Dr. has you covered in, “7 Streams of Income: The Secret To Becoming A Millionaire.”
Can too much of a good thing be bad?
We all know that time is precious and cannot be replenished.
But those who retire early may find themselves having much more time than they know what to do with.
Retire by 40 shares some of the issues he encountered in, “Too Much Time After Retirement?”
Hope you enjoyed the reading material.
Have a great rest of the week.
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