My dad bought his first house in his early 20s with a downpayment funded his father he repaid that generosity to me when I was in my early 20s. However if they have a good mindset and it's going towards something worthwhile I think it's a good idea. Just giving someone with no financial skills $50k is a great way to achieve nothing but inflate ones standards of living temporarily. I think better advice is to teach your kids good financial skills and habits and help them when needed. Or "How to retire a millionaire but have your kids living in poverty" u/EngagingData's Early Retirement FIRE Calculatorĭo not give money to your kids makes up a large part of the padding.Money Mustache, Wade Pfau, etc., have been archived here. "Build the life you want, then save for it."Īrchive of previous Daily Discussion threads.Īrchive of previous "Help Me FIRE!" threads.ĪMAs with William Bengen, Mr.
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Please read the FAQ and Rules above, then feel free to share your journey or ask for advice! When participating on this subreddit, please be mindful of the ways in which you are lucky. Taking the slow road, or the traditional road to retirementīecoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. Gaining wealth for the purpose of excessive consumption Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE Striving to save a large percentage (usually more than 50%) of your income to accelerate achieving FI Working to increase your income and income streams with projects, side-gigs, and additional effort Your wants and needs aren't written in stone, and less spending is powerful at any income level. Simplifying and redesigning your lifestyle to reduce spending. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles whether you are retired or not.ĭiscovering and achieving life goals: “What would I do with my life if I didn't have to work for money?" This subreddit deals primarily with Financial Independence, but additionally with some "RE" concepts.Īt its core, FI/RE is about maximizing your savings rate (through less spending and/or earning higher income) to achieve FI and have the freedom to RE as soon as you wish. Kiyosaki Mega Pack - Robert T.This is a place for people who are or who want to become Financially Independent ( FI), which means not having to work for money.īefore proceeding further, please read the Rules & FAQ! Rulesįinancial Independence is closely related to the concept of Early Retirement/Retiring Early ( RE) - quitting your job/career and pursuing other activities with your time.
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How to Swing Trade, How to Day Trade for a Living, and Advanced Techniques in Day Trading - Andrew Aziz, Brian Pezim.21st Century Investing: Redirecting Financial Strategies to Drive Systems Change - William Burckart, Steve Lydenberg.The Book of Investing Wisdom: Classic Writings by Great Stock-Pickers and Legends of Wall Street - Peter Krass (Editor).Investing in Your 20s & 30s for Dummies: 3rd Edition - Eric Tyson.Financial Shenanigans (Fourth Edition): How to Detect Accounting Gimmicks & Fraud in Financial Reports - Howard M.The Barefoot Investor for Families: How to Teach Your Kids the Value of a Buck - Scott Pape.The Armchair Guide to Property Investing: How to Retire on $2,000 a Week - Ben Kingsley, Bryce Holdaway.Property Investing Made Simple: 7 Tips to Reduce Property Investment Risk & Create Real Wealth! - Andrew Crossley.Australian Personal Finance Audiobooks - Various.Business-related audiobooks (Investing, Entrepreneurship, Strategy, Real Estate, Crypto, Economics, Management, Marketing, Personal Finance, Sales, Futurology, Product Management, Behavioral Science) - Various.Richer, Wiser, Happier - How the World’s Greatest Investors Win in Markets and Life - William Green.
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