As another New Year begins it might be wise to review your financial assets, liabilities, planning progress, and retirement accounts status. Now is a great time to talk and think about financial independence, managing money, and planning for retirement security. What do you know about the Financial Independence Retire Early (FIRE) Movement? If financial independence, money, and retirement are important to you then this blog is dedicated to helping you.
“To enjoy more abundance, freedom, and wealth in our life requires investing our energy, money, and time. Like any area of our life, to enjoy financial freedom and independence requires detailed plans with a happy, healthy, and wealthy vision combined with a Treasure MAP (massive action plan) and vision board.” —Michael Morningstar
When we choose a contractor to build our dream home, we expect them to correctly follow detailed blueprints. Without blueprints, the result could be big problems and heartbreak. We know when all the details are carefully written down and followed we have a much higher probability for success in anything we do. Our financial independence for retiring early requires a detailed blueprint to build a stable and strong financial freedom investment structure and system.
The current crazy coronavirus conditions are providing many people the opportunity to contemplate how and where they want to live to enhance their quality of life and still reach financial independence and retire early. Opportunities are abundant when you have an abundance mindset.
What financial planning solutions, strategies, suggestions, and systems are you implementing to make your life in 2022 better than it was in 2021? To enhance our cash flow, financial freedom, and retirement planning requires us to develop smart financial behaviors, beliefs, and habits. We must learn to invest our energy, money, and time to maximize our opportunities and probabilities for financial success as we minimize loss, risk, and waste.
Financial freedom requires us to update, upgrade, and upload our mental mindset, money management, and money mastery wisdom. With dedication and determination, anyone can expand their skills and thoughts for financial freedom and independence. Our behaviors, beliefs, and brain signals are the key drivers for our ability to create financial independence and the life we deserve and desire.
Financial Independence Retire Early (FIRE) Movement
The financial independence retire early (FIRE) movement has been gaining more followers and forward thinkers eager for early financial freedom. Imagine the benefits of being dedicated, determined, and disciplined as you live a frugal and practical lifestyle to save and invest more money for the early retirement rewards. Rather than spending and wasting money in a carefree and frivolous way you create a passion and purpose to enjoy a lifestyle that is satisfying, simple, and smart. Many people chase wealth as they crash their health and then must spend their wealth trying to recover their health. What if the FIRE movement would allow you to enjoy a happy and healthy lifestyle now as you make great progress towards an early retirement reward that allows you to have more fun, health, and wealth over the long term?
Proven principles to consider:
- A penny saved is a penny earned. Every penny you save and invest moves you towards earlier financial freedom and a retirement reward. Every penny you spend mindlessly moves you farther away from your dreams while moving others closer to their financial freedom and retirement reward at your expense. Avoid the fancy cakes, coffee, cookies, and cupcakes as you protect your health and wealth. Avoid the closet full of expensive clothes and shoes that may not fit as your body shifts. Avoid chasing the shiny penny trinkets, trivia, and toys that distract you from your pot of gold for your golden years and rainbow retirement reward.
- Asset allocation is a key financial planning strategy that is key to increasing your net worth and reducing your risk. It is a key driver for financial security and stability.
- Compound interest is the most powerful force in the universe according to Albert Einstein. It can make you a poor wreck or make you positively wealthy, depending on whether it is used against you or for you. Interest paid on credit cards and finance agreements can rob you of your wealth. Compound interest in a tax-deferred, tax-free, or tax-sheltered investment account can help you become financially free and a millionaire. Hoorah!
- Digital nomads and ex-pats are finding a wealth of lifestyle opportunities and options as they travel the world. When you expand your vision you create more choices.
- Early to bed and early to rise, makes a person healthy, wealthy, and wise according to Benjamin Franklin, a brilliant man and a millionaire.
- Earnings and income are important, but it is your investment and lifestyle choices and decisions that determine your road to financial failure or financial freedom.
- Education plays a role in our ability to earn money, invest money, and plan for retirement. Find the resources and role models for a great financial education.
- Financial planning is based on the art and science of earning money, investing intelligently, minimizing risks, reducing taxes, and smart strategies to the greatest extent possible.
- Gambling is a high-risk and low return form of self-sabotage behavior and thinking that will create holes in your financial bucket that allows your money to leak out. Betting, casinos, gambling, lotteries, and slot machines are examples of financial traps that make the gambling industry big bucks by taking the money of gamblers.
- Health is a form of wealth. One of the main reasons for personal bankruptcies is medical expenses and hardship. Investing in your health every day will pay big dividends.
- Homesteads, micro-farms, and small towns can be the golden ticket for many families interested in creating the life of their dreams. The digital world is full of opportunities.
- Legal documents like agreements, contracts, estate planning, insurance, property ownership, titles, trusts, and will play key roles in financial planning.
- A minimalist lifestyle early in life can lead to financial freedom and a lifestyle with retirement rewards early. RVs, tiny homes, and trailer nomads often enjoy many advantages with their lifestyle choice.
- Necessities, needs, and nice to have are important lifestyle lessons to learn in your early teens. Advertisers, marketing companies, and public relations firms get paid big bucks to convince you to spend your hard-earned money on their client’s products. By age 16 it is vital to begin creating a financial blueprint and vision board.
- Peers, resources, and role models are key to learning the skills, strategies, and systems for financial freedom and wealth accumulation.
- Reducing risks to our ability to earn an income is key to financial security. Disability insurance, health insurance, and life insurance play an important role in financial independence and financial planning.
- Save big, spend bitsy, and stash away more money for your financial independence and retirement rewards early. Tiny homes are a great example of what works for many people. Being a renter is what makes people who are homeowners wealthy.
- Spend less than you make and invest the difference in appreciating, cash-generating, and compounding assets and investments.
- Start saving and informed investing early for financial independence to retire early. The sooner you create a financial plan and begin saving and investing the sooner your money will start working for you.
- Things, thinking, and thoughts can set us on the path to riches or ruins. We must create a financial freedom plan to manage and monitor our performance and progress regularly.
- Winning the financial independence retire early game is possible for anyone with the commitment and dedication to implementing the proven principles.
Yes, you can do it when you create and focus your mental attitude and mindset on baby steps and daily progress with scheduled monthly checkpoints along the way.
We all need references, resources, and role models to guide our financial path to freedom. We can all access the best guidance of the experts to learn their skills, strategies, and systems for financial success. Learning from their vast experience allows us to cut decades of trial and error off of our timeline and begin implementing their words with wisdom in days.
The Morningstar NEWS blog is passionate about helping people focus on financial and health success strategies. When we follow the profound principles and proven practices of peak performance financial role models we can enjoy a happy, healthy, and wealthy lifestyle. The crazy coronavirus conditions are providing us an opportunity to rethink and review our current lifestyle and begin investing more for our financial independence and retire early game plan. Now, may be the perfect time to build a better and bigger FIRE for your happiness, health, and wealth. Some great education and financial resources include Dave Ramsey (Smart Money, Smart Kids), George Clason (The Richest Man in Babylon), Napolean Hill (Think and Grow Rich), Robert Kiyosaki (Rich Dad Poor Dad), Suze Orman (Ultimate Retirement Guide), and Tony Robbins (Money Master the Game).
Passion for People & Planet
The passion and purpose of Morningstar NEWS are to condense hundreds of hours of reading and research down to two minutes of education, information, and inspiration. The financial independence retire early (FIRE) movement is easy to join when you have the determination, discipline, and drive to live a healthy and wealthy mindset lifestyle. If you chose not to join the FIRE movement you can roll the dice and increase the odds of becoming a DICE (Dependent Individual Craving Essentials).
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