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FIRE - Financial Independence, Retire Early
tony stark
#21 Posted : Thursday, April 08, 2021 1:52:23 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 947
Since we are FIRE and reducing expenditure .... I am looking for a FIRE butchery in Nairobi not beyond mlolongo!
mungaits
#22 Posted : Thursday, April 08, 2021 7:18:35 PM
Rank: Member


Joined: 9/20/2007
Posts: 252
tony stark wrote:
Since we are FIRE and reducing expenditure .... I am looking for a FIRE butchery in Nairobi not beyond mlolongo!


Pale Dagoreti market; 300-400 per Kg
Ali Baba
#23 Posted : Thursday, April 08, 2021 7:38:48 PM
Rank: Member


Joined: 8/29/2008
Posts: 571
mungaits wrote:
tony stark wrote:
Since we are FIRE and reducing expenditure .... I am looking for a FIRE butchery in Nairobi not beyond mlolongo!


Pale Dagoreti market; 300-400 per Kg
I've also discovered a FIRE "pub" at Othaya. Summit sells at sh 120,Tusker at 130.Go to President Kibaki home.
Kenyan Oracle
#24 Posted : Monday, February 07, 2022 8:48:16 AM
Rank: Member


Joined: 5/31/2011
Posts: 246
Nifiche wrote:
Ali Baba wrote:
amorphous wrote:
Ali Baba wrote:
I'm seated at home watching as you commit suicide by working during a pandemic.



But what makes you think we are not also retired too doing the same?


Some of us retired way back in 2003 my braddah. Whatever we are doing now ni hobbies na mentoring tu to ward off boredomDrool
OK comrade! Retired in 2014.Let's sit at the balcony and watch them commit suicide by working during the pandemic!! We are The Intelligent Investors.


Nice to have some input from folks who are already FIRE. Applause

@Ali Baba
@amorphous
@young

Kindly share your experience. How long did it take you to reach FIRE? Which strategy did you use? What is the composition of your portfolio?



This thread was or still is the best so far though it didn't attract much attention. I believe we are all searching for a soft life during retirement. Can we hear more how the Gurus of Wazua achieved FIRE?
You lose money chasing women, but you never lose women chasing money - NAS
Jon Jones
#25 Posted : Monday, February 07, 2022 12:03:49 PM
Rank: Member


Joined: 9/11/2015
Posts: 242
Location: Thika
Nifiche wrote:
The FIRE movement has gained in popularity during the COVID pandemic. A dedicated thread is however still missing here on Wazua. Until now, that is.

A quick introduction for the unacquainted:

The ideas originated in the US and were popularised by among others,

-Vicki Robin and Joe Dominguez, https://yourmoneyoryourlife.com/
-Jacob Lund Fisker, http://earlyretirementextreme.com/
-JL Collins, https://jlcollinsnh.com/about/
-Mr. Money Mustache, https://www.mrmoneymustache.com/

The core is lifestyle design by minimising spending and maximising savings or cash flow so as to achieve FI (financial independence) and RE (retire early). Also often expressed as being work optional or owning your time.

In practice this is most commonly done by accumulating a portfolio of least 25 times one's estimated annual living expenses, investing in low-cost index funds and withdrawing 4% from it annually for the rest of one's life.

This last approach is best captured by the Bogleheads investment philosophy [after John C. Bogle, founder of The Vanguard Group].

https://www.bogleheads.org/wiki/Main_Page


Clearly, the information above is primarily suitable for people living in the industrialised world.

This thread invites contributions from everyone, but particularly those living outside the industrialised world and are already pursuing FI or are interested in the ideas.

This only works in theory because in reality, expenses rise to meet income meaning that you will be in a perpetual state of trying to accumulate 25X your annual expenses. After all, they (expenses) will increase every year.
Since men have learned to shoot without missing, I have learned to fly without perching
Jon Jones
#26 Posted : Monday, February 07, 2022 12:19:35 PM
Rank: Member


Joined: 9/11/2015
Posts: 242
Location: Thika
As you guys continue chasing your tails, I think true financial independence is a mirage. I don't think I will ever pursue it.

My goal is to have passive investments that can take good care of me if crap ever hits the fan in this unpredictable life. That's all. Rent, dividends, and maybe a tree farm with thousands of trees somewhere in the Aberdares will do it for me.

My definition of freedom is the ability to take some time off without downgrading from a high quality lifestyle. I don't want to retire. I just want the ability to take breaks from whatever I will be working on as and when need arises. I personally view retirement as a temporary thing. You can "retire" for a few months and globetrot, and then resume your hustles.
Since men have learned to shoot without missing, I have learned to fly without perching
jawgey
#27 Posted : Monday, February 07, 2022 1:50:58 PM
Rank: Member


Joined: 1/13/2014
Posts: 376
Location: Denmark
Jon Jones wrote:
As you guys continue chasing your tails, I think true financial independence is a mirage. I don't think I will ever pursue it.

My goal is to have passive investments that can take good care of me if crap ever hits the fan in this unpredictable life. That's all. Rent, dividends, and maybe a tree farm with thousands of trees somewhere in the Aberdares will do it for me.

My definition of freedom is the ability to take some time off without downgrading from a high quality lifestyle. I don't want to retire. I just want the ability to take breaks from whatever I will be working on as and when need arises. I personally view retirement as a temporary thing. You can "retire" for a few months and globetrot, and then resume your hustles.


I believe the motivation behind FIRE, as you correctly put it, is being able to take well-deserved breaks without having to worry about bills. The mind should never stop working just because you have "enough" wealth. The act of creation in itself is a fulfilling process that is always chased even by the wealthy. With financial independence, you can afford to create stuff you love that do not necessarily bring income. But easier said than done. The reality is that most of us will continue chasing the wind until the end.
Seeing is believing
Kenyan Oracle
#28 Posted : Monday, February 07, 2022 3:09:47 PM
Rank: Member


Joined: 5/31/2011
Posts: 246
Jon Jones wrote:
As you guys continue chasing your tails, I think true financial independence is a mirage. I don't think I will ever pursue it.

My goal is to have passive investments that can take good care of me if crap ever hits the fan in this unpredictable life. That's all. Rent, dividends, and maybe a tree farm with thousands of trees somewhere in the Aberdares will do it for me.

My definition of freedom is the ability to take some time off without downgrading from a high quality lifestyle. I don't want to retire. I just want the ability to take breaks from whatever I will be working on as and when need arises. I personally view retirement as a temporary thing. You can "retire" for a few months and globetrot, and then resume your hustles.


You are just saying the same thing only differently. FIRE is not about sitting idle but getting out of the rat race and doing what you love in your own time.
You lose money chasing women, but you never lose women chasing money - NAS
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