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The second decade millennials never experienced a down market until now. Perhaps that will put a stop to all those silly Financially Independent - Retire Early
by peter303 7y ago
The second decade millennials never experienced a down market until now. Perhaps that will put a stop to all those silly Financially Independent - Retire Early (FIRE) blogs about millennials retiring early to tropical islands and living off ever increasing tech stocks prices.
First decade millennials were screwed by the 2002 and 2008 recessions in find jobs after college.
- TheAdamAndChe 7y agoI'm 26. In the last week, I've shifted my financial focus from paying off debts as fast as possible to making the minimum payments and buying capital. This whole thing might stop the FIRE blogs from being as popular, but those who have truly internalized the teachings of those blogs will see this as an opportunity to buy capital cheaply and make good long-term(20+ year) returns.
- maximente 7y agoit's ridiculously easy to FIRE if you're in tech. it's fairly easy to live on $1000/mo in a developing country. you only need a $360K to do that for 30 years before switching to social security, fairly easily obtainable by working on a lowish tech salary ($110K - $10K expenses, completely tax free due to FEIE) for 5 years (say you need to pay off some other debts or w/e).