Author: Dad is Fire

How I Teach My Kids About Money Using a Lemonade Stand
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How I Teach My Kids About Money Using a Lemonade Stand

Every business, no matter how large or small, can be compared to a lemonade stand. This simple concept has been the foundation for teaching my son, who is now 7 years old, about money. Ever since he was 4, he has been setting up his lemonade stand, and over the years, it has grown more…

Paying Mortgage Discount Points: A Powerful And Misunderstood Option

Paying Mortgage Discount Points: A Powerful And Misunderstood Option

Mortgage rates are always a hot topic in the news. Whether they are up or down they are newsworthy. There is a way to save on your mortgage and get a better great rate, regardless of whether rates are rising or falling. Mortgage points have always been a source of confusion, and fear for many…

Financial Independence Retire Early: About Dad is Fire
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Financial Independence Retire Early: About Dad is Fire

In my teens I developed a plan to try to buy myself an early retirement so I could spend that time with my children and wife that I didn’t yet have. The phrase Financial Independence Retire Early didn’t exist, but the path to it did. Unlike other FIRE experts online, Finance Experts in real life,…

Tired of Working? These 9 Mental Shifts Allowed Me Retire at 42
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Tired of Working? These 9 Mental Shifts Allowed Me Retire at 42

When I retired at 42 in 2021, I discovered the concept of Financial Independence Retire Early, also known as FIRE. Even though I had already reached financial freedom, understanding the mindset behind FIRE helped me reflect on the steps I took and how others can do the same. The FIRE movement is more than just…

Light Your FIRE: Financial Independence Retire Early Strategies Explained
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Light Your FIRE: Financial Independence Retire Early Strategies Explained

At the ripe age of 42, I left my professional career and stepped into a life of Financial Independence Retire Early (FIRE). Interestingly, when I started crafting my own financial independence plan as a teenager in the mid-1990s, the term “FIRE” wasn’t even on the radar. However, the dream of buying one’s way out of…

Why Buying a House is Financially Better Than Renting (Includes Calculator)

Why Buying a House is Financially Better Than Renting (Includes Calculator)

As a Chartered Financial Analyst with over 20 years of experience in real estate investing and financial services, I’ve seen firsthand the financial advantages of owning a home versus renting. I have rented to hundreds of families over the years and I’ve seen thousands of applications from tenants to rent. I have also owned homes…

How Much House Can You Afford?: The McDonald’s Principle
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How Much House Can You Afford?: The McDonald’s Principle

It’s hard to know how much house you can afford. Actually it’s easy to know how much house you can afford. It’s hard to know how much house you should afford. The McDonald’s Principle When I bought my first house, I developed The McDonald’s Principle. It was simple, clever, and powerful. It was my way…

How I Teach Kids About Money By Getting Rid Of Their Stuff
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How I Teach Kids About Money By Getting Rid Of Their Stuff

As parents, we’ve all encountered the seemingly inexhaustible supply of toys, gadgets, and general kid stuff that seems to multiply in our homes. If you’re anything like me, you’ve probably looked around your house and wondered how you ended up with so much…stuff. But here’s the thing: this clutter, while visually overwhelming, presents an unexpected…

“Do Something That Makes You Go To The Library”
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“Do Something That Makes You Go To The Library”

In 2021, shortly before I retired, I found myself on a run with a friend who has always been a source of inspiration to me. We are the same age, but while I was preparing to leave behind the structure of my career, he was running several small businesses and dedicating much of his time…

Why Income Isn’t the Biggest Hurdle to Retiring Young
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Why Income Isn’t the Biggest Hurdle to Retiring Young

Would you believe me if I told you that most millionaires don’t earn six-figure incomes? It’s true, and it’s exactly why income isn’t the biggest hurdle to retiring young. Recently, I ran a survey on our YouTube channel asking, “What’s the biggest hurdle you face in retiring young?” The results were striking: 71% of people…

Why a Roth IRA Isn’t Always the Best Choice: A Campfire Conversation

Why a Roth IRA Isn’t Always the Best Choice: A Campfire Conversation

I was sitting around the campfire last weekend, enjoying the warmth of the flames and the comforting crackle of burning wood. My cousin, a financial advisor brimming with enthusiasm, leaned over and brought up a topic that’s been buzzing incessantly on social media: Roth IRA conversions. He insisted that I should convert my Traditional IRA…

Fake Guru.  Why Should I Listen to DadisFire?
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Fake Guru. Why Should I Listen to DadisFire?

I originally wrote this about fake financial gurus in Sept, 2021 a few weeks before I retired at age 42. I’ve made some updates to formatting, but left everything else the same. Oh no, not another fake guru talking about FIRE. I have never really paid attention to all the websites and YouTube videos around…