Episode
SPECIAL: The Little Known World of FatFIRE
28:51
Published: Mon Jul 26 2021
Description
In this episode Sam (@theSamParr) shares what he's learned from one of his favorite subreddits, FatFIRE. FatFIRE is about the pursuit of financial independence/early retirement with an upper-middle class lifestyle. Do you like these special episodes? Tweet your feedback to Sam (@theSamParr) & let him know what you think. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (1:07) Meet FatFIRE * (6:53) What Sam has learned from FatFIRE * (7:15) 1 - The safety withdrawal rate * (8:36) 2 - Asset backed loans * (10:38) 3 - They keep working after they retire * (11:50) 4 - It's easy to spend a lot of money * (13:05) 5 - But you don't have to * (13:50) 6 - You have a number * (15:04) 7 - On wealth advisors * (16:05) 8 - You don't have to start a business * (18:25) 9 - Live your life * (20:23) A redditor on different levels of wealth --------- Links: https://www.reddit.com/r/fatFIRE/ https://fatfireindex.com/
Chapters
Learn how the HubSpot Podcast Network has changed perspectives on wealth creation and what it feels like at different levels, according to users of the resource.
00:00 - 02:18 (02:18)
Summary
Learn how the HubSpot Podcast Network has changed perspectives on wealth creation and what it feels like at different levels, according to users of the resource.
EpisodeSPECIAL: The Little Known World of FatFIRE
PodcastMy First Million
Fatfire is a way of retiring early with financial independence without compromising on lifestyle through saving or earning big money.
02:18 - 07:49 (05:30)
Summary
Fatfire is a way of retiring early with financial independence without compromising on lifestyle through saving or earning big money. The book talks about getting wealthy and steps one can take towards it, offering tactical advice on running a business, collecting money, and managing people.
EpisodeSPECIAL: The Little Known World of FatFIRE
PodcastMy First Million
Learn how to withdraw up to 70% of your savings with low interest rates, while continuing to grow your principle and never run out of money.
07:49 - 12:42 (04:53)
Summary
Learn how to withdraw up to 70% of your savings with low interest rates, while continuing to grow your principle and never run out of money.
EpisodeSPECIAL: The Little Known World of FatFIRE
PodcastMy First Million
The concept of financial security and needing a wealth advisor may differ for individuals.
12:42 - 18:42 (05:59)
Summary
The concept of financial security and needing a wealth advisor may differ for individuals. While some may need a wealth advisor, others may not and may opt for a fee advisor instead.
EpisodeSPECIAL: The Little Known World of FatFIRE
PodcastMy First Million
The poster suggests that retiring early depends on having between 10 million to 1 billion dollars, although most people will keep working in some capacity.
18:42 - 25:18 (06:36)
Summary
The poster suggests that retiring early depends on having between 10 million to 1 billion dollars, although most people will keep working in some capacity. It involves saving for 10-20 years, getting equity that goes up in value, and achieving financial independence to live life on one's own terms.
EpisodeSPECIAL: The Little Known World of FatFIRE
PodcastMy First Million
The speaker reflects on his experience with wealthy individuals and how their focus on the value of time often leads to a loss of personal connections.
25:18 - 27:57 (02:38)
Summary
The speaker reflects on his experience with wealthy individuals and how their focus on the value of time often leads to a loss of personal connections.
EpisodeSPECIAL: The Little Known World of FatFIRE
PodcastMy First Million
Sam Parr suggests checking out the subreddit, FatFire, for tips on building wealth and recommends the book, How to Get Rich by Felix Dennis.
27:57 - 28:16 (00:19)
Summary
Sam Parr suggests checking out the subreddit, FatFire, for tips on building wealth and recommends the book, How to Get Rich by Felix Dennis.