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Wilson, NC 27896
Phone: 252-237-4357
Fax: 252-243-2681
January/February 2021
Getting FIRE'd?
FIRE stands for Financial Independence, Retire Early. It’s a financial movement growing in popularity as people seek to eliminate debt and build savings so they can retire earlier than usual.
Reduce
The first step in the FIRE process is to eliminate debt while cutting expenses. Start by scrutinizing how you spend your money to identify what expenses are unnecessary.Increase
FIRE followers also look for ways to increase their income. Things like switching jobs for a significant pay increase, working side gigs or generating passive income from owning rental property add money toward the early retirement goal.Invest
The last tenement of FIRE involves sound investing strategies. Start by maxing out retirement plan contributions. And if your employer offers a matching contribution, be sure you’re saving at least the minimum amount to get the maximum contribution.CONTACT US
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Active Planning & Investment Solutions and LTM Client Marketing are unrelated companies. This newsletter was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
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