It’s a FIRE week!

Disclaimer: I am not a financial advisor and this is not financial advice whatsoever. These are just my own opinions and personal preferences I am sharing.

I think I briefly mentioned here and there that I am into FIRE: Financial Independence Retire Early. I got exposed to this idea from the Mr. Money Mustache blog about 7 years ago. Summarizing, save as much as possible each month and invest it — e.g. 30, 40, 50 percent or more of your income.

My favorite book on investing is The Simple Path to Wealth by JL Collins as I mention on my Favorites page. The author of Mr. Money Mustache, Pete Adeney, wrote the foreward to this book.

All the Hacks interviews JL Collins. Well I noticed in my feeds page today that Chris Hutchins from All The Hacks — the gentleman who recently interviewed Kai of The Daily Churn Podcast — has a brand a new podcast where he interviews JL Collins! Here’s it is! This is definitely worth a listen IMO.

BABC & Churning Fire. Also I noticed in my feeds page that John from Bank Account Bonus Central (BABC) just posted a new Youtube video where he talks about what he calls Churning FIRE. There are various versions of FIRE and I like Churning FIRE — clever name! This is exactly what I do!

Personally, rather than bonds, I have a BHEF (Bonus Hunting / Emergency Fund) I use as a dual purpose fund. To function as a bankroll to work bank & credit card account bonuses, as well as serve as a large emergency fund. Personally, I am beating average market returns — tax implications included — with this BHEF. (Again I am not a financial advisor and not advocating anything, just sharing my personal perspective.)

Here’s John’s new video:

Update 9/26/24. Kai, from The Daily Churn Podcast talked about ChurningFIRE in a reddit post a couple years ago — thanks Kenny (comments section of this article) for the info!

So how many more posts are we going get on FIRE this week? Already two in the same day! If there are any more I’ll add to this article!

Summarizing. I do save over half my income each month and invest it — currently into building up my BHEF to my desired goal, then followed by investing in the Total Stock Market like JL Collins does. And I do this Churning FIRE thing as John explains in his youtube video and Kai in his reddit post. I use various Frugality Hacks to save half my income each month without sacrificing any quality of life.

Please consult a financial advisor for your personal financial / investing needs.