The G.F.I.R.E. movement is the long term version of the F.I.R.E. movement. To recap, the F.I.R.E. movement stands for Financially Independent/Retire Early movement. You basically invest $2-4 million and retire as early as you can.
The G.F.I.R.E. movement starts off the same as F.I.R.E. You work hard and invest as much as you can. You create multiple income streams. And when you have enough to retire, you work even harder and create even more income streams. Your goal is to build as much wealth as you can to allow your grandkids (and beyond) to have the options to F.I.R.E. a lot earlier.
G.F.I.R.E. stands for Grandkids Financially Independent/Retire Early. Basically this first generation (us) is going to tailor our lives towards setting up all future generations. We always keep one eye on today and the other eye deep into the future. Investments we make today are specifically for future generations. Businesses we start today are built with the idea that children will be able to continue business to generate income.
G.F.I.R.E. has a strong sense of family. It is grounded in the fact that family always sticks together. Family does not let family fail. We created G.F.I.R.E. to allow the protection of our future generations from the wealth destruction that is taking place all over the world. Our children need streams of income in order to survive in this world. No longer can we tell our children to go out into the world and succeed on your own. This is no longer feasible (or at least extremely hard to do). G.F.I.R.E. wants to keep families together and creates an environment of less stress and more freedom. When children leave the house with multiple streams of income already in hand, they will have the financial freedom to choose what they want to do and who they want to be.
G.F.I.R.E. is not for everyone. In fact, it is not for most people. G.F.I.R.E. is for people who truly, deeply believe in family. G.F.I.R.E. asks, what would you do for your family? Would you work a few more years in order for your grandkids to have a more comfortable life? Would you live frugally in order to buy stocks for your great-grandkids? These are questions most people would answer no to. There is a reason that the Individual Retirement Account (IRA) is so popular in America.
In order to exercise G.F.I.R.E., you have to first ensure that you and your wife are set for retirement. Sadly, most people do not have this figured out. From there you have to ask, what have I done for my kids have lives and retirement. G.F.I.R.E. demands you ask these questions. It is a very daunting task to look this far into the future. My kids are 13 and 9, and I am already trying to look ahead as far as I can. I ask myself daily, “What more can I do to ensure my kids have a life that allows them to be successful in their own right?”
G.F.I.R.E. is a brand new movement. It will require an outline of how to get started, what assets and businesses work best, and what kind of investments are necessary to leave a G.F.I.R.E. legacy. Stay tuned for more on the G.F.I.R.E. movement. For the moment, ask yourself, “Am I set up for your own retirement?” From there we will expand to encompass more questions and deeper thoughts.
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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