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The Steps to Financial Independence Retire Early (FIRE)

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The Steps to Financial Independence Retire Early (FIRE)

 

Taking small steps to financial independence can have a big impact on your retirement. Many people talk about F.I.R.E or financial independence, retire early. But what are the steps you should take to get there? And does F.I.R.E look the same for everyone?

 

In this episode, my guest, Doug Nordman shares the steps you can take to F.I.R.E., how to handle debt in the process, and how to leverage your military benefits to achieve financial independence faster.

 

Doug served for 20 years of active duty in the U.S. Navy’s submarine force and retired in 2002 at the age of 41. He and his spouse, a retired Navy Reservist, reached financial independence in 1999 on a high savings rate.

 

He’s the author of “The Military Guide To Financial Independence And Retirement” and founder of The-Military-Guide.com. With his daughter Carol Pittner, he’s the co-author of “Raising Your Money-Savvy Family For Next Generation Financial Independence” through ChooseFI Media.

 

THANK YOU!

The Military Money Show is supported by Navy Federal Credit Union. Veterans Day is this week. It’s an important day to celebrate those who took the oath to support and defend. Support for the veteran community is every day at Navy Fed. They offer veteran employment assistance partnerships with nonprofits like U.S. VETS and personal finance counseling. To learn more about the resources and support they provided to veterans, visit navyfederal.org/veterans.

 

Steps to Financial Independence Retire Early Details

  • History and evolution of the F.I.R.E. movement
  • Fat FIRE
  • How Financial Independence Retire Early works
  • The addition of a military retirement
  • Three steps to achieve financial independence
  • FIRE without deprivation
  • Options with managing student loan debt
  • Advice for military spouses with employment and education
  • How to do the FIRE math
  • Advice for couples on financial independence

Related: Effective Ways for Service Members to Use the F Fund

 

Steps to Financial Independence Resources

More Podcast: How to Raise Your Family Money Savvy

 

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Disclosure

These notes may contain links to our affiliate products or services, which means I might get compensation when you click or buy. That said, I’m only going to put affiliate links that are in line with our podcast discussion.

 

If you want to “kickstart” your finances in the military, you can get access to my free Financial Kickstart Kit here.

 

 

Taking small steps to financial independence can have a big impact. Here's how to achieve F.I.R.E or financial independence, retire early.

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