Nothing beats experience

10 honest truths from a FIRE millionaire

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The best advice comes from those who have done it

These are hard truths from a real FIRE experience

Annamarie retired early at 42 in South Africa

Her truths are surprisingly simple

FIRE is achievable for you

This is why
1. FIRE is for everyday people

Early retirement does not mean you inherit a fortune

It means that you save a fortune yourself

"I grew up in Pretoria in a strict Afrikaans home. I attended a Model C High School in an average suburban neighborhood."
2. You don't need a perfect job or careers

You can vary between 9-5 or self employed

You can have a slow or struggle to find work

"I battled to find work ....
I found a job but 6-months later I was retrenched
It took me almost 12 months to find permanent employment"
3. A frugal mindset helps

Understanding that financially independence = freedom

From an early age there is a strong desire to save

A frugal home can help to instill this

Delayed gratification

"My parents were extremely frugal and my dad was very financially savvy"
4. Early financial literacy empowers you

Talk about personal finance to your family & kids

Give them books to read, videos, blogs

Find out your own information

"He taught us about compound interest, budgets and debt from a very young age"
5. Your partner needs to be on board

You need to share the same values and goals

Get them on board by sharing your vision

Use powerful books and videos

"To get a partner on board I'd recommend Scott Rieckens' book "Playing with FIRE" and "The Minimalist" on Netflix"
6. A simple diverse investment portfolio

Start with whatever you can even just saving

The most important thing is consistency

Savings, stocks, Unit trusts etc

"I started off with a simple money market account and monthly annuity"
7. Making mistakes will teach you

Choose cheaper more flexible investment options

Life is unpredictable and needs flexibility

Annuities tie you in and are expensive

"And don't get me started on the massive commission that your financial adviser earns upfront on this."
8. Biggest challenge is being different

It gets lonely and your friends will change

To live like no one else
You must live like no one else

"You need to keep on reminding yourself why you're doing this otherwise its very easy to fall into the debt trap like everybody else."
9. You have to sacrifice to achieve

To achieve FIRE in 15y you have to sacrifice

You miss out on some of the fun

Save all your bonuses

But it is worth it.

"The feeling of being financially free is indescribable. It’s the biggest gift anyone could give themselves"
10. Top tips for achieving FI

Pay off debt fast
Don't just buy stuff
The Joneses are living a lie
If you cant afford it - don't buy it
Avoid balloon payments and credit cards
Buy drive and keep secondhand cars forever
Read the book "Playing with FIRE" by Scott Rieckens
You can follow @wealthyhealthyl.
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