The FIRE movement (Financial Independence, Retire Early), has become a wildly popular concept over the last decade, but it’s also become wildly controversial.
Today, Andy talks with Lisa Harrison, the writer and podcast host behind Mad Money Monster. She’s had her story featured on major media outlets like Yahoo Finance, MarketWatch, and Forbes. She started off in love with the FIRE movement and idea of early retirement but then had a change of heart.
We’ll be diving into how she discovered FIRE, what changes she made to her lifestyle and what caused her to abandon the idea of early retirement altogether.
My mother-in-law, my wife Nicole and I were standing in our kitchen the other day catching up on life. In conversation, Nicole brought up the fact that we’re one year away from paying off our mortgage and we’re excited to see what our life is like when we’re completely debt-free. Our plans for annual vacations with the kids, starting a business and saving more for retirement all came up.
My mother-in-law was very interested in our decision and asked:
“Don’t you need to keep your mortgage for the tax benefits?”