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Old 08-12-2020, 10:22 PM   #12  
ramalama
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Quote:
Originally Posted by rickair7777 View Post
Word of caution about FIRE...

It only works if the vast majority of people DON'T do it. The more people who expect to live off of savings/investments, the fewer folks who are actually available to produce goods and services... then you get inflation, which over time nullifies your FIRE war-chest.

If everybody on your block has $10M (except Joe who has $15M), but nobody wants to work, the neighbor's kid gets to name his price to mow your lawn... he might charge $5K. And Joe will pay it, he can afford to. Everybody else has to mow their own lawn, unless they want to get in a bidding war with Joe.

If FIRE catches on big, most of you will have to come out of "retirement" at some point. Unless you're Joe.

The only reason seniors can retire is because there's normally a lot of younger folks to provide goods and services (although that's actually problematic in some societies today). Also society is sympathetic to them being old and infirm.
Oh OK Rick. Make sure world population all donít become financially independent.........check!
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