How to Retire Early : The Secret is FIRE 🔥
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- Опубліковано 27 вер 2024
- The secret to early retirement is FIRE. Literally: Financial Independence Retire Early = FIRE. Using the principles of fire one can unlock early retirement and freedom at any age. I used FIRE principles to retire at the age of 24 nearly aged 25. I want to help you to unlock Financial Independence as well - JOIN ME and become a FIRE FOLLOWER in the FIRE MOVEMENT! Hit like, subscribe to this video and you too will be on your way to being FIRE.
How to Contact me:
My Facebook Group: / 23242. .
My Blog: www.25andfree.com/
Facebook: / mrosehart
Instagram: / mikerosehart
Twitter: / mikerosehart
SUBSCRIBE: www.youtube.co....
Bigger Pockets: www.biggerpock....
Mike Rosehart Business & Coaching Inquires: 25andfree25@gmail.com.
If you want to speak with me on the phone or over skype for 1 on 1 coaching calls, I have decided to make myself available on a limited basis (so long as it doesn’t infringe on my Freedom too much - Family is important too!). Given the availability in my calendar is limited I have to charge $99/hour to ensure I don’t get swamped with requests that I cannot respond to for months. That said, most of what you need to know is out there on UA-cam and in my videos. I look forward to hearing you.
Mike Rosehart is a 25 year old early retired, self-made millionaire, with a young family, who unlocked financial independence at the age of 25 through Real Estate investing, hard-work and extreme frugality. Mike holds the title of Canada's Youngest Self-Made Early Retiree through Frugality. He bought his first property at the age of 19 (in 2012), while still in university studying business finance, and scaled up to build a 15 property portfolio in 2017 that cash-flowed over $12,000/month (net) in London, Ontario, Canada. Mike sold 11 properties and currently has 7 properties, dabbles in equity investing, real-estate, entrepreneurship, business management, and much more. Mike is obsessed with all things personal finance. He created this channel to give back with the goal of educating others on all things financial independence (FI), real estate, and managing it all with a young family. Subscribe to follow Mike on his journey to help others unlock financial independence!
#personalfinance #secretisfire #retireearly
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Please watch: "STOP Overpaying for Real Estate: Invest in Market Inefficiencies"
• How to Buy Real Estate...
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1080p HD plus the FIRE hose of information and FIREball of motivation all came together on this date in history!!
Noel Bissoondial it is a historic day haha. Thanks for the kind words and the comment! Like, share, comment and you’re on the Rosehart Path to Fire Club.
Andy Meung ❤️
'Your freedom is for sale. You can buy your freedom.' That is a very powerful statement. Love it!
Ryan's Mom thanks! It’s true though.
THIS VIDEO IS FIRE!!
Graham Stephan haha Thanks Graham :)
You’ve done fire x5 each month haven’t you graham ?
Graham Stephan hi graham
You just got a cosign from Graham Stephan, I just got fucking chills !!!!!!!!!
I’ve been studying financial literacy since turning 17 in the beginning of 2019 and have found my why !
To change my family tree and to help improve the living situations of my people in Haiti 🇭🇹
I want to join the FIRE movement and make a difference too
Those are great intentions!
Amen congratulations
I'm a boomer....we didn't have FIRE movement.....but i had early retirement wanting to buy my freedom on my mind since 26...which led me to retire at 54. I'm super happy and free, time is mine....like you said, I still work on my own special pet projects and dabble around doing what i want...but my motivation is not about money...TIME is everything to me. Cubicles will kill you!!!!...Get out early and save your heart and brain from heart-attacks and stroke...obesity and just the general 77% stressed that will die early. Why stress...retire early!
Accuracy Marked so well said!
Absolutely love FIRE concept, more videos on this topic!
krillansavillan if it gets lots of views/likes/shares I’ll be forced to create more on this topic :)
Thanks!!
I want to be in the Fire movement I'm currently 15 years old
Zael _Comedy I love that you’ve found this at your age. Man at your age, if I had started then I’d be even further ahead!
Keep watching & learning.
Someday you’ll rule the world!
Fire is the key to freedom. Buy your freedom!
I save 75% of my paycheck 😂 its hard not to spend it but im sure it’s going to be worth it later on..... Im trying to get into real estate by the time im 18
Right on!! If you can keep that up you'll be retired in your 20s! Financially independent & able to do whatever you want with your life without the need to work. You are starting very young and that's a HUGE advantage - trust me on that!
75% of how much?
Good stuff man
@@twincherry4958 His paycheck
@@awesomebeast7509 lol..$amount 😁
Nice to see so much young people in the comments! I retired at 28 with only one rental after working 2and a half year, but peoples starting in their teens can do much better!
LeCalmar “Retire” with one rental property?! The true definition is having 25 years of living expenses set aside, so that could mean retiring on only $500,000 if you/your family can live on $20,000/year or less. For myself that number was just under a million. Today, I could get my on a lot less, but I have a lot more - which typically happens after folks retire.
Amazing you were able to unlock Retirement for yourself is awesome!!
Be careful retiring with only a few rental properties - diverse income streams are important.
@@MikeRosehart Those 25 years are in my opinion a rule of thumb. My definitions is when your assets get you what you need to live like you like to live. I'm diversifying now by studying medicine. I feel safer with a property than I would with stock, because in worst case (I don't find anyone to rent (well real worst case would be war or nuclear accident, but stocks wouldn't fare any better in those case,)), I could still live there and homestead. I think one key of FIRE, is to be able to be creative about solutions. In my case 25 years of expense would be far from enough, because yields for stocks are around 1% in my country.
I find it great that so many younglings are following you. I really encourage them to save a lot, and to cut expense a lot too(you can go much lower than you think). It opens a lot of possibilities when you spendings get in the 4 digits yearly. It's great that you were able to save one million, but not everyone is able to earn a lot of money, and it's important that those persons don't get discouraged. Your interview with jacob is great in this regard.
mike you have really become very popular you are the man i like this video clip a lot as well keep it up bro you look very nice as always very well dressed.
Hey, Mike, I want to join the fire movement too!!!!!
the ending lol oh man I literally just died laughing .. great content though as always. The inspiration is real.
Mitchell Pater haha thanks :D
The end is classic. I got lost in my headspace for like 10 seconds and I figured the footage made for a great end clip lol.
Just started our adventure to FIRE 8 months ago. We currently are about to purchase our third property this spring and we cant wait to see what 2019 has to offer! Its an addictive lifestyle!
Mike this video really is inspirational and has really helped my motivation to become FIRE in my 20’s. I am 25 now and own 3 rental properties in the UK. I only earn and average income but save and invest around 70% by living at home. This year I am taking a risk as I am going to remortgage a home I renovated to buy two more rental properties. Fingers crossed this will help me get closer to my goal. Thanks for your videos. Keep up the good work 😀
John Crayston amazing John! You’re close to FIRE! A few of the right rental properties and you can easily be FIRE’d / FI.
John Crayston right on living at home!
I wish I could have stayed at home past 17, it would have helped things, but I just found cheap places to live (a bedroom I rented for 299/month all inclusive), and a bachelor my girlfriend & I split (600/month / 2 = 300/month each, all inclusive).
I want to be a part of the FIRE movement!!! Let’s do it!!!
Holy shit, you're gonna take off within a couple years no problem. I'm just here to hitch a ride on your coattails lol.
I wanna join the FIRE movement!!!
1KnattyDread welcome!
Mike, awesome points. I can see this channel blowing up. 🤯
SubZeroEric thanks!!! That means so much, I hope it does
Thank you, for your knowledge
Really looking forward to your future videos on this!
xEastCoast I’ll definitely be creating more for you then.
You are awesome!
Heck yea yo I’m hyped for this fire movement thing, you should definitely make multiple videos about it!
Love your stuff man keep it up ;)
Mafew thanks so much!!! I am enjoying the hype comments - feeling the love.
I need to do minimum 2-3 videos a week! One being wise wealth Wednesday’s every Wednesday at 7pm EST of course.
Bravo Mike! Very inspired by your message!
adadogod I appreciate that. That’s the goal! Inspire as many as I can to make an active change in their lives!
Never heard of FIRE. This is awesome! Keep it up!
Steven Cacace thanks 🙏
Keep me updated on how your fire journey goes!
Just saw a video about Suze Orman hating the fire movement 😂. My goal is to reach Fire 🔥 also. Video was awesome 😎.
Gemfeng haha, fire is just the choice to be free. You don’t stop work, you can always continue to work lol
Mike Rosehart So true.
Retired at the age of 27 with fire movement, started at 21
I’m dedicating my UA-cam channel to the FIRE movement.
Just starting my journey now
Been waiting for a video thanks mike 💯
You're definitely first! :)
Look forward to the next video! Need to move up my retirement age now :D
GreenSequoia I’ll help you get there!
Thinking about what is important to me, I realize I need to double my budget :D
Great content!
Just you wait till the government steps in a either taxes dividends at a insanely high rate, or just get rid of dividends all together.
F F I’ll just keep collecting rental income from rental properties :)
Multiple layers of redundancy.
Even at 60% tax I’d be fine
Mike Rosehart very good idea also I love your channel keep up good work, I’m in Australia waiting to c what happens to the housing market prob gona give it another year and then buy another investment property, also have started learning about blue chip stocks. Multiple sources of income is my dream
F F multiple sources :)
I don’t really have anything I want to do outside work. Why is everyone obsessed with travel? It’s just different looking buildings and people on the same pile of dirt. I can understand not being in debt, but what’s the point in not working unless you just hate it?
James Drake something like 77% of North Americans are unhappy in the work that they do, according to gallop.
Those people really enjoy FIRE.
What if your job changes? What if your boss changes? What if your industry changes?
Having FIRE allows for flexibility if and when things change.
🔥🔥🔥
Michael Chung welcome to the FIRE Club. I hope you can handle the heat.
Hey Mike, Would you ever show your portfolio on your youtube channel? I would love to see what funds you have invested, how much, and the return on investment. Thank you
Ya I’d consider that if I had a good screen share
@@MikeRosehart Zoom app is a great way to screen share. Probably the best in my opinion. You can also use google screen share as well. I’m sure you already know these options. I sent you a message on Linked in as well. Would love to learn more from you.
Nice image, that made me click instantly!
Jason Liu by design ;)
It did exactly what I wanted it to.
Thanks for the feedback!
What is the name of the book that explains this fire movement and its strategy?
alexis baez hmm I dunno if any books specifically on FIRE, but there’s lots of Early Retirement & financial independence.
search #RetireEarly
1st hit: CNBC (main stream media)
2nd hit: this video
Bjorn R yesssss!! That’s amazing!!!
#retireEarly #earlyretirement
Bjorn R this comment made my day. In my Instagram stories now :)
Check it out @mikerosehart
Hey
Hey!
A lot of people say invest in Index Funds. Is growth or dividend better?
Michael Tomaszewski I prefer stable dividend plays over speculative growth plays personally.
Index investing is simple and passive, it’s fantastic for the majority.
@@MikeRosehart thanks! Very helpful!!!
Any FIRE movements in Australian?
Tkz
Join the fiaustralia subreddit
FIRE is all over the world! It’s spreading!
I have a few Australian subscribers who have reached out directly and chatted with me. One of whom actually came to Canada to visit me.
I’m Australian and I’m part of the FIRE movement. Let’s get rich together
"It was like crack"?
100%. World of Warcraft is the closest I've come to crack. I had a friend back in the day that literally went through withdrawal & quit crack to play World of Warcraft (WoW). Similar chemical endorphin rush.
I find the journey to FIRE was similar - as I got closer and built more wealth, I got huge endorphin highs. I mean, like crack is a bit of an exaggeration, but it does feel really good once the snowball starts rolling in the right direction.
That's a great testimony brother. Keep up the good work.
That resonated to me
Joining the FIRE movement for sure. Figuring out what system will work for me, as I own a business and have just sold my first property. Lots of questions to research now...
Andri Sadlak happy to share what I know and answer any questions you have in future videos. :)
Hi
Any FIRE movements in Australian?
Tkz
Hussain Muradh defiantly some. I have subscribers in Australia for sure. @Aydan!
Someone I was telling FIRE about told me the movement will single handedly destroy society! Who will work? What will happen to nurses and doctors and lawyers if everyone retires early? 🤣🤣🤣🤣What say you?
Riche Noire haha, people will still be doctors and lawyers.
I think some people enjoy working and so they will continue to. Likely the doctors and lawyers will work less hours, so there will be more opportunities for more doctors and more lawyers.
Plus there will always be the young folk who are grinding to FIRE still.
Realistically, most people don’t have the discipline to make it to FIRE and delay gratification.
How many rental properties do you own and how many units do you own in total
Nick Leather we have a lot of properties we manage and own portions of as joint venture partner. The number is growing everyday! Tune in for Wise Wealth Wednesday tonight & we can discuss!
I dont understand, how did you start working as a management consultant at 19? I currently reside in Canada and the average age of graduating from university is around 22....
SAAH110 I didn’t start at 19.
I’ve had full time work since I went to university at 17. I did both full time.
I graduated at 21 and went into consulting full time.
From 17-21 I made about 20-30k/year working. Most ppl partied or slacked.
I bought my first property at 19 after Saving up a downpayment - I’ve done videos on that as well.
I’m currently 26, I quit my day job in consulting 2 years ago this March.
Ahhh ok, thanks for the detailed reply. Really clarifies a lot about how you managed to be in the position you are now. It really is that hard work ethic throughout every stage in early life which separates the FIRE mindset from the average person. I was not aware as I just started watching your videos. Looking forward to gaining some more valuable info from the rest of the videos.
SAAH110 a dollar saved early on in life is equal to 65 dollars when you retire. $1000 saved now is 65,000 later. $1,000,000 saved when you’re young is $65,000,000 when you’re old. Power of compound Interest ;)
Hard work now pays off later!
I found waldo
ladder49isthebest1 Ha! +1
ladder49isthebest1 +FIRE
Tell me more 🔥🔥🔥🔥
KeVlogS 100% I will. Bring on the videos!
I found Wally
Lol
#fire #firemovement #financialindependence #retireEarly #freedomfire #FIRED
if everybody join' FIER' movent who will generate the money ?
swapankumar mazumdar great question - I believe that most people following the fire movement would still produce way more value than they consume. That’s the key. Producing more value than you consume.
People like myself still produce a ton of value despite not needing to work.
Mr Money Mustache wrote a great article on this actually.
#mrmoneymustache
Does the Fire movement own pets or does not? It is not just about money, it's about loving another living being, human and animal and helping them, and charity giving. One really misses out on being loved and loving back.
Sammy from Alabamy for sure you can have pets. It’s about what you value. You can be FIRE with a pet. A family. Whatever, you just need to control your spending and earn an average full time salary.
Thanks for watching everyone. Like, share, comment below and subscribe to let me know if you want to be a part of my FIRE Movement Club. I’ve been investing in better camera and lighting equipment & I hope it shows!
Let’s FIRE up Your Finances!!
Checkout my group on Facebook: FIRED UP Finances
We are so impressed with the FIRE movement. Thanks for sharing and explaining things so well. New fan and supporter here. We didn’t retire until age 55, but we started a YT channel and plan to travel the world and live our dreams. We hope to inspire the younger generation to retire early and travel the world. Well done, John and Bev
🙏 ❤️
I want to join the Fire Movement. Im 20, don't mind frugality, want to avoid debt and dream of thru hiking the AT. Thank you for your encouragement!
You’re welcome! You can do it!
@@MikeRosehartCan I email you directly for more advise?
@@joshuamoriarty3549 you can find more information just on youtube alone or go online to mr money mustache's blog post called Shockingly Simple Math i think its called
So with all the money you save up do you invest it all? Since im saving around 75% of my paycheck (probably not going to stay at 75% 😂) should I try to invest it or just save until I have enough for a down payment for a house (I had in mind a fixer upper)
Jonathan Casares invest it in something relatively stable, and if when the time comes you want to buy a property you can use leverage to buy 5 to 1. So every 1000 you save buys you about $5000 in real estate - minimum.
$100,000 saved buys you minimum $500,000 in real estate.
I’m currently saving 30%. Looking to retire in 5 years
NANGSTAGRAM TV keep me updated on how it goes! Here to help & support
I've been saving 50% since I read Early retirement extreme 6-months ago and the discipline alone is enough to save/pay down debt super fast! Thanks for keeping the FIRE alive! great content!
Charlie Billman amazing, fantastic book. You’ll love the interview I just dropped with the author of Early Retirement Extreme - Jacob Lund Fisker - god father of FIRE 🔥
Great work saving, you’re on your way to early retirement.
I am 15 and I have an online business. I try to save 70% of my income for a rental property. I have been saving in a custodial brokerage account and investing in stocks. Is this the most profitable way to save? I have also been reinvesting 20% back in the business and spending 5% (since I don’t really need a lot of money). Are my percentages ok for my age? Do you have any other suggestions?
The Financial Wolf I think for your age you are doing very well!!
Most 15 year olds aren’t even focused on building online businesses or saving. You’ve got a huge edge and yes the fact that you are experimenting with these platforms so early will mean you have a great edge later on.
The true test will be when you are self sufficient - can you maintain the savings rate. If yes, you’ll be FIRE before you know!
May I adopt you...lol
Found Waldo
Bobby Mo hahah :P
Meanwhile in other countries: No water. Peope working their ass off.
I would like to no more
Hey Mike I want to join the fire movement too!
Andrew E. subscribe, hit the notification bell, like and share. Done? welcome! Lol.
What’s with all the 15 year olds lol, crazy they found this channel!
mrbeefy971 yeah, I wish I had found something like this at 15. I remember discovering this stuff at 17/18, it’s fantastic that they’re starting so young.
I need to make a video just targeted to the Gen Z on money management I think. I’m on the edge myself as a millennial.
I wonder if it would be valuable?
Doesn’t hurt to try!
i am 10 and i wanna be in FIRE.