Dubai Meetup 13: Financial Independence and Early Retirement - An Introduction (including slides)
The CSPFI community met this Saturday to speak about a pretty unconventional topic: financial independence and early retirement.
Most people believe they need to work until they are 65. It's what everyone around them is doing. It's what they've been told since we were born. It's how the system is setup. But why wait until 65? Why not find a way to retire at 55? Or 45? Or even earlier? And you don't necessarily have to stop working! It's about building financial resilience in your life so that you can make better choices. You could go part-time or find a activity that has more meaning to you. Imagine having enough money to stop working and do what really matters! - Take care of your kids and see them grow up! Take care of your parents as they grow older too... Spend more time with your spouse and family! - Travel the world, meet new people, discover new places, learn more about other culture, without having to rush back to work at the end of the week! - Take time to care for yourself... learn new skills, take care of your health - it will be easier without the stress of work! - Pursue hobbies, activities or work out of passion and not only for the money!
- Defend a cause that matters to you, work or serve those that need you the most - but cannot always pay for it.
This is the power of financial independence - probably the ultimate life hack!
If you're interested in pursuing FI, here are the first few steps:
1. Live below your means, pay your high interest debt and build an emergency fund.
2. Learn to invest wisely: follow the simple bogleheads investing approach (low fees, broadly diversified passively managed index funds). Here are a few good ressources:
3. Learn more about FI:
- Learn the truth with MMM's Shocking Simple Math Behind Early Retirement and make sure you check out his other amazing blog posts.
- Listen to Paula Pants interview of the Mad Fientist and all her great blog posts and podcasts.
- Follow the adventures of the Go Curry Crackers as they enjoy FI and travel the world.
- Listen to the Choose FI Podcast, probably one of the best place to learn how to turbo charge your path to FI.
- Learn everything you need to know about finance with Radical Personal Finance.
Welcome to the FI movement!