Pouring water on the FIRE strategy
EPISODE SUMMARY
Alex and Ed explain FIRE - Financially Independent Retire Early - and why this trend is likely a bad idea.
They also consider whether it's best to buy or rent a second home, the idea of selling off stocks, paying off your mortgage early, and when to collect social security.
EPISODE NOTES
Alex Cabot and Ed Lambert from Birch Run Financial join Jag and start with the dilemma of buying or renting a second/vacation home.
Next, the guys tackle a new financial trend - FIRE - or Financially Independent Retire Early. Retiring in your 30's may sound like a good idea, but Alex and Ed explain the many pitfalls associated with this new idea.
Is it a better idea to sell off stock before the market dips? Find out why the stock market and investing can actually be the opposite of a casino.
Is it better to pay off your home early or invest that extra income? Ed explains the benefits of both.
Finally, Alex tackles one of our most commonly asked questions. When is the right time to start collecting Social Security Benefits?
RESOURCES
Email Alex: ACabot@birchrunfinancial.com
Email Ed: ELambert@birchrunfinancial.com
Call Alex and Ed: 484-395-2190
