How to Retire Early on F.I.R.E. with Eric Richards of Nomad on Fire
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
Show Notes: How To Retire Early on Traveling with Kristin.com
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