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  • Well, I'm standing here in a poncho, so I'm not really sure what's going on.

  • This is a super-simple game; We're fishing for advice.

  • Oh, wow, I am not coordinated, at all, so this might take some time.

  • [Fishing for Advice With Financial Advisers]

  • By fish, do you mean all creatures that live under the sea or ... because I kind of want the starfish.

  • The F.I.R.E. movement is heating up.

  • What they say it is, is financial independence, retire early.

  • What's your definition of financial independence?

  • It's being able to say, "Heck with you," and quit a job when you need to or change direction.

  • Financial independence is having enough saved that you don't ever have to work again if you don't want to, kind of like early retirement.

  • Really when they say retire early, what they are really talking about is, do something else and not work for, you know, "The Man."

  • I think financial independence boils down to having options: being able to travel, do things for families, for charities, or do things for your community.

  • Financial independence to me means being able to do what you want when you want.

  • And so for some people, that takes very little money, for other people it takes a ton of money, but it's being able to tell the boss, "Hey, I don't want to come to work tomorrow," and you're ok with that.

  • This little fishy says, "What is the best way for someone to start earning passive income?”

  • [Passive income: Money that flows into your pocket while you're sleeping. —Paula Plant, Afford Anything]

  • Whenever we talk about passive income, I have to say that, like, blogging is always going to be the first thing that comes to my mind, but you may not love writing.

  • There might be something that you love, like maybe you love Etsy crafts, or maybe you love analytics in the stock market.

  • But the most important thing is that you figure out what excites you, because what excites you is going to be easy for you to do.

  • I think that, like, the most common answer to this is real estate.

  • Don't just watch some, uh, infomercial at 3 a.m. and think, "Hey, I'm going to start 10 real estate properties and make millions of dollars off that."

  • For me, managing real estate sounds like the biggest headache in the world.

  • I'm going to use investing principles and earn dividends and kind of build my passive income in a much more hands-off way.

  • I don't really think there is such a thing as passive income to tell you the truth.

  • I think if you are making money you should always be working to promote the things that you've created.

  • I don't think you should take passive income for granted.

  • I think you should be actionable about it.

  • I think that's everything.

  • AARP has a lot of great additional videos coming out, and you do not want to miss any of them, so subscribe to AARP's YouTube channel.

  • All right, man, this fishing, you got me. You got me.

  • You got me working out up here. Here we go, here we go, all right, here we go.

  • So, you thought the questions were going to be hard.

Well, I'm standing here in a poncho, so I'm not really sure what's going on.

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What is the FIRE Movement? ?| Retire Early!

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    nanako.kamiya posted on 2021/09/23
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