Learn how to retire early with the FIRE Method (Financial Independence Retire Early). Eric Richards of Nomad on Fire podcast explains how you can become financially and location-independent even if you're a big spender, new to investing or "bad" at math and budgeting.
You'll also find out the three most effective ways to save money, how to become financially independent while a location-independent digital nomad, the best travel credit cards, what the cost-of-living is in Bali and Medellín, and more.
TOPICS DISCUSSED:
- Bali reopening and cost-of-living
- What is the FIRE method and 4% rule?
- How much do you need to save to retire early?
- How long does it take to achieve FIRE?
- Different approaches to the FIRE method and passive income (cash flow or draw down approach)
- Quitting your corporate job
- Burnout and work-life balance
- How Eric saved money while a employed full-time
- How to avoid lifestyle inflation
- Geo-arbitrage
- How to balance your job and side hustle
- How to stay productive and organize your time when you work for yourself
- How to balance ambition with happiness
- How to figure out what you want from life
- Living in Medellin, Colombia and monthly cost-of-living
- Remote Year - is it worth it?
- What should you do once you have it "all?" What’s next in life after achieving financial and location independence?
SHOW NOTES & RESOURCES
- FIRE Method
- Remote Year
- When is Bali Reopening?
- Which Countries Can Americans Travel To?:
- Related podcast episodes:
- Ayodeji Awosika (F*k-you money)
- Greg Caplan, Founder of Remote Year
- Matt Bowles, Host of the Maverick Show
- Parkinson’s Law
- Wealthfront Robo-Investor
CONNECT WITH ERIC
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