So you want to be a Nomad Part 4 : FIRE - Financial Independence Retire Early & Dave Ramsey

Welcome to Part Four of our series on how to become a Nomad. Today we talk about the FIRE Movement and the differences between this and Dave Ramey's 7 Baby Steps. FIRE and Dave Ramsey have similar principles. Get out of debt & accumulate wealth is the overriding principal of both mantras. But there are differences. FIRE is about accumulating wealth as soon as possible and then having the option to retire early, breaking away from the pre-conceived retirement age dictated by the Government of whatever country you live in. In the UK for Helen that has changed 4 times since she began working and a retirement age of 60 is looking to now be 68. If you are financially independent you have option, regardless of how you get there. Starting earlier is the best way to go but it's never too late to focus on financial independence.. Dave Ramsey would then say keep accumulating wealth, don't retire and sell the business or give up work. A job gives you focus and purpose and not working means you will get fat playing golf. Well FIRE completely disagrees with this. Traveling will give you purpose, as will charity work or the myriad of other things you can do. And Dave Ramsey does not like Credit Cards. He proposes using debit cards or cash whenever possible. Whilst we can see the principal of no debt makes sense it is difficult to travel becoming a Nomad without a Credit Card. Either way gets you to financial independence and that's the important thing. Having the independence to make choices is key, what choices you make are yours. Make sure you hit that notification bell so you can watch Part 5 next week. #daveramsey #firemovement #yourmoneyoryourlife #7babysteps #diewithzero #thesimplepathtowealth #travel #globalnomadtravel #worldtraveller #worldtravel #slowtravel #digitalnomad #digitalnomadlife #retireearly #retireearlyandtravel #financialindependenceretireearly #digitalnomadlifestyle Video Chapter 00:00 Introduction 00:21 FIRE and what is it 01:11 Your Money or Your Life 03:14 Why did we FIRE 06:36 Losing your Identity when you stop working 07:36 The younger you retire the older you live 10:40 Start your FIRE journey earlier 12:16 Dave Ramsay and the Baby Steps 14:12 Should you Retire or continue to accumulate wealth 17:05 Will we have the capital to buy another house 18:35 It's never too late 20:15 Dave Ramsay says you should not have a Credit Card 23:10 Do your Research 24:41 Thanks for Watching Our Links Airalo: https://airalo.go.link/3ofAz Wise: https://wise.com/invite/irhc/jamesr1487 Our Contact https://www.facebook.com/GlobalNomads93/ https://www.instagram.com/globalnomads93?igsh=emg1ZzkybnJyOXZv Email: globalnomads93@gmail.com