Why you should think about financial independence and mini-retirements | Lacey Filipich | TEDxUWA

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  • Published on Nov 27, 2018
  • 'Time poor' is the catch-cry of our era, and yet end-of-life retirement means we have an average of two decades of feeling time rich to look forward to… when we’re old. In this talk, Lacey shares how combining financial independence and mini-retirements is one way to bring that time rich feeling into our youth. Lacey Filipich started her entrepreneurial journey with a hair wrap stall at 10 years old. Today, she is the co-founder and director of two successful businesses; Money School and Maker Kids Club.
    Between hair wraps and start-ups, Lacey graduated as valedictorian from the The University of Queensland with an Honours degree in Chemical Engineering. She moved to Australia’s ‘wild west’ to begin her career in mining, rising quickly through the ranks. A health scare and her sister’s suicide opened Lacey’s eyes to the world beyond work, leading her to redesign her life and take five mini-retirements in the next five years.
    This was achievable because of Lacey’s financial position: she started investing at 19 and now earns a passive income. Lacey considers herself time rich: able to choose if, when, where, how, on what and with whom she works. Her story is one of many in the Financially Independent Retiring Early (FIRE) movement supporting the idea that end-of-life retirement is optional. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx

Comments • 569

  • orlanflor
    orlanflor 10 days ago

    Find a job that offers flexibility of work from home

  • Passive Income Investor
    Passive Income Investor 11 days ago +1

    I just updated my $111,000 Dividend portfolio dripping $4707 I plan on FIRE by 35-40!!! come check me out!!!!!!!!!!!!

  • music cliche
    music cliche 12 days ago +1

    Some people complain about being unequally blessed with money. But the same people are complaining on not having enough time though all of us are blessed equally the same amount of time each day.

  • Mister R
    Mister R 19 days ago

    This is very close to just being a video of "look how well I've done" she oversimplifies EVERY aspect of her journey.

  • Daniel Padilla
    Daniel Padilla 19 days ago +5

    I’m aiming for part-time early retirement. I’d rather work 3 days a week than 0 days a week. I estimate one can hit the part-time retirement “number” in about 65% of the time of full fledged FIRE.

    • Andrew Lawson
      Andrew Lawson 3 days ago

      Great plan Daniel. After a 1year recharge I didn’t enjoy not working. Part time is fulfilling and engaging, giving back too.

  • xina68
    xina68 23 days ago +3

    Great talk! Thanks for sharing.

  • Karstine Berry
    Karstine Berry 27 days ago +2

    Great advice about the tight pending, savings and investment..but who will listen?

  • Don Boetger
    Don Boetger Month ago +2

    A truly smart, complete, and well-thought out speech.

    • Maker Kids Club
      Maker Kids Club Month ago

      Wow, thanks Don! You've made my day :) Cheers, Lacey

  • Ian Sherwood
    Ian Sherwood Month ago +2

    The title sounds like Tim Ferris 4hr work week which came out yearssssss ago

    • Maker Kids Club
      Maker Kids Club Month ago +1

      4HWW was a major influence on my talk and my life. I mention Tim and the book in the talk. Excellent attention to detail, Ian :) Cheers, Lacey

  • Roya Salehzai
    Roya Salehzai Month ago +1

    We here for a good time, not a long time

  • Jeremy Vanbrunt
    Jeremy Vanbrunt Month ago +1

    Nice thought but a lot of people aren't in that position to just buy real estate and throw thousands into the stock market.

    • Aaron Hundertmark
      Aaron Hundertmark Month ago

      In the beginning of the video she mentions being frugal with your money and trying to reduce your cost of living. That frees up money to invest, and reduces the amount of work free income you need to be independent.

  • Mayur Rajyaguru
    Mayur Rajyaguru Month ago +1

    Excellent. Keep inspiring and showing ways to millions

  • THE FUTURE BILLIONAIRE

    I am 19 Year's old And I Know All About Money Game how to Get Financial freedom Or How to Run Bussines How to Save How to Invest can I Am Going to Ritire At the my Age Of 25 or 27 I am The Luckiest one who Know The Game of Money Early.. I Am Exited About My Life after 5 Years Or 10 Years I Am retire at the age of 27

  • Brian Thor
    Brian Thor Month ago +2

    Love the speech and encouragement. It makes me step back and reevaluate what I find precious and what I value.

  • DJ Tan
    DJ Tan Month ago +1

    U ground ya teeth till they split??! Wat?!!

    • Maker Kids Club
      Maker Kids Club Month ago

      @DJ Tan Done :)

    • DJ Tan
      DJ Tan Month ago +1

      Maker Kids Club; Relax, woman.

    • Maker Kids Club
      Maker Kids Club Month ago

      In my sleep, mostly. It started in my mid 20's according to my dentist (I've had the same dentist since I got teeth). I found out I'd cracked them about a week before heading off to South America, and there wasn't enough time to put on the crowns before I went, so I spent three months chewing very carefully! I've been wearing an occlusal splint at night ever since (11 years now), but the grinding appears to have stopped because the splint isn't wearing through. Still, I keep it in - no desire for more split teeth! Cheers, Lacey

  • G Boucher
    G Boucher Month ago

    now Im old and sick and not motivated

  • Carla Silveira
    Carla Silveira Month ago +1

    Brilliant.

  • Yousif Mansour
    Yousif Mansour Month ago +17

    It's unbelievable how much wisdom exists in these videos.

  • lou lou
    lou lou Month ago +3

    i feel already what you are talking about but still, your speech was beautiful. Thank you for your words to us

    • Maker Kids Club
      Maker Kids Club Month ago

      Thanks lou lou, appreciate your kind words :) Cheers, Lacey

  • Curran Kemp
    Curran Kemp Month ago +2

    Australians not wanting to work, go figure...

    • Maker Kids Club
      Maker Kids Club Month ago +3

      Well, ONE Australian anyway :) Funny thing is, I probably work more now than I did a decade ago on my businesses and volunteering. Just doesn't feel as much like work. Cheers, Lacey

  • Edith
    Edith Month ago +5

    Who’s going to hire you at 80? That’s the problem with front loading retirement. FIRE is a good strategy but it only works for a small subset of population making good wage. If you spend any amount of time on fire forums you’ll see a very heavy skew for certain professions.

    • TheRamstoss
      TheRamstoss Month ago

      @Edith Why is that?

    • Edith
      Edith Month ago

      @TheRamstoss Debating here with you, I have renewed appreciation for spending my 10,000 hrs working with smart people everyday.

    • TheRamstoss
      TheRamstoss Month ago +3

      @Edith You can either spend 10,000 hours learning how to be a world-class employee, or spend 10,000 hours learning how to start a world-class company. Easy choice.

    • TheRamstoss
      TheRamstoss Month ago +3

      @Edith A strong work ethic can be learned, marketing can be rented, a contract can be written. I agree it's much more time consuming. I also agree most startups fail. But you put in the work in the beginning for a few years, put in your 10,000 hours to become an expert at starting a company, and you can retire much earlier than if you were an employee. Once you realize this the work ethic will magically appear.

    • Edith
      Edith Month ago

      TheRamstoss I have to say, as someone working with hundreds of people making as much or more than that, you’re being a bit dreamy and out of touch. Most people don’t get to retire by solving an arbitrary problem someone half way across the world may or may not need without any marketing, contract, or strong work ethic. Being self employed is orders of magnitude more time consuming than getting a paycheck for an established company. Atleast this would be the case in any first world country with medium to higher cost of living.

  • Leon Gruneberg
    Leon Gruneberg Month ago +3

    fire is great for graduates with a salary that isn't just over broke but try saving when the only job available is on a minimum wage even if you've got a phd and mba

    • Maker Kids Club
      Maker Kids Club Month ago

      @Leon Gruneberg Thrilled to hear you enjoyed it - and wow, that was quick reading! I like your idea for a non-government approach.
      I especially like the idea of making it local, as national seems challenging. For example: I've had a (very rough) look at Australia's numbers in the past (that's where I'm from). In FY20, we'll spend $191.8b on welfare ($7.7k per Aussie, there's ~25m of us). The cost of admin is around $4b I think, so almost negligible in this context. Our poverty line is $22k a year, so getting rid of welfare and distributing that cash sent on it now evenly across every Aussie would get each citizen just over a third of what you'd need for a subsistence approach. So everyone would have to earn something - even those currently on full welfare. Then I looked at our Future Fund (which is investing Aus government money, up to $188b in assets managed) - if you could safely earn a yield of 4% a year to withdraw, that's still only $300 a year per citizen. So, a national approach is overwhelming and would require a massive shift. Local might be different: less conceptually massive, less $ total, and better understanding of local dynamics and needs.

    • Leon Gruneberg
      Leon Gruneberg Month ago +1

      @Maker Kids Club Thank you for recommending a truly remarkable and inspirational book. It has made me ask the question: If the government doesn't give out a UBI, could a UBI be given out without the government? Could a not-for-profit be set up to raise money, buy investments and re-distribute part of the dividends as UBI? Maybe targeting a depressed area like the one I live in first, so everyone from the local BMW franchise to the people sleeping on the streets got it, before gradually rolling the programme out nationally?

    • Maker Kids Club
      Maker Kids Club Month ago

      @Leon Gruneberg Absolutely. Puts me in mind of that George Bernard Shaw quote: “The reasonable man adapts himself to the world: the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” Hope you enjoy the book - the UBI stuff seems like a no-brainer, I'm still struggling to reconcile the last bit on open borders (don't want to spoil it for you though! Enjoy the read!) Cheers, Lacey

    • Leon Gruneberg
      Leon Gruneberg Month ago +1

      @Maker Kids Club I am about to download that book so thanks for the recommendation. I also think there should be a managed universal investment fund or funds which should be started at birth, dividends re-invested and access to dividends not allowed until the person is 18 at a minimum.

      I know I come across as being negative about save and invest schemes, but I know there is a big fault line in the theory. It is only because people like Elon Musk take a negative view on the internal combustion engine that viable non-polluting alternatives are appearing. Most of the great inventions from clothing and fire to the internet have come about because someone has a negative view and recognises the limitations of the status quo.

    • Maker Kids Club
      Maker Kids Club Month ago

      @Leon Gruneberg I love the UBI theory too. Since reading Rutger Bregman's 'Utopia for Realists' I've been reading more about it. You make excellent points, thank you. Cheers, Lacey

  • samir khairnar
    samir khairnar Month ago +1

    Save and invest ! Become time rich !

    • Maker Kids Club
      Maker Kids Club Month ago +1

      @Tim Julian yes, that part sucks. I was looking at Aus interest rate in the late 80's - you wouldn't want a mortgage as it hit ~18% (would be like buying a house on a credit card!) but it meant you could live off interest with a reasonably small amount of cash saved. We're sitting at 1.5% as the central rate now, with 2-3% being a 'normal' rate in a commercial bank. Bottom line: you'd need about 6-9x as much capital in the bank to earn the same income now as you would have in the 80's. Cheers, Lacey

    • Tim Julian
      Tim Julian Month ago +1

      Easier said & done with 1% rates!

    • Maker Kids Club
      Maker Kids Club Month ago

      I guess you could call that the six-word summary :) Thanks Samir! Cheers, Lacey

  • Paul S
    Paul S Month ago +3

    One of the most meaningful advice. She outlines what, how, when, why ... Very clearly...

    • Maker Kids Club
      Maker Kids Club Month ago +1

      Thanks Paul S, glad you liked it :) Cheers, Lacey

  • Akhil Eapen
    Akhil Eapen Month ago +1

    well said. i still doesn’t know why young people are spending too much for higher studies like MS, MBA which cost 45-50K $ and losing couple of years and then working hard for the money that they spent for it in the next few years.Instead if he opt the money to compound for these years, it would have doubled

    • Maker Kids Club
      Maker Kids Club Month ago +1

      Thanks for the comment Akhil. I guess those who choose to do such study have hopes the extra quals will lead to jobs that out-earn the lost capital and returns. An MBA ins't something I'm keen on personally, but I have the luxury of not needing one to progress my career (or, perhaps it's actually that I don't *think* I need one - others might). Food for thought :) Cheers, Lacey

  • maillaarni
    maillaarni Month ago

    As soon as she mentioned we have the same hours as Beyonce and Obama, she lost all her credibility. Stopped watching.

  • wisedylan
    wisedylan Month ago +3

    That was beautiful.
    Catch fire.... It gave me chills. 🔥

    • Maker Kids Club
      Maker Kids Club Month ago

      Thrilled to hear it, thanks wisedylan! Cheers, Lacey :)

  • Ivy Riego De Dios
    Ivy Riego De Dios Month ago +1

    would you tell your child to buy a house/flat at 19? instead of her enjoying teenage life whilst teaching your child impotance of saving?

    • Maker Kids Club
      Maker Kids Club Month ago

      Great question Ivy. Having been through the experience, I can tell you that owning that first property when I was 19 was cheaper than renting a room in a sharehouse. Specifically:
      - Mortgage was $110/wk
      - Other property ownership costs (rates, insurance, body corp) were ~$20/wk
      - I rented out the second room for $90/wk
      ... so my net was $40 a week out of pocket (plus all the other stuff I would have had to pay for in either case - food, phone, electricity etc).
      My uni friends were paying ~$100/wk to rent a room, and then had all the same extra costs (food, phone, electricity etc) to pay as well. So I was about $60/wk better off being an owner/landlord than my friends who were renting.
      I had a lot of fun in my life (well, as much as engineering study allows you to anyway - it's a heavy work load with 30+ contact hours of class time per week) and didn't feel deprived. The extra $60/wk I had compared to my friends certainly helped.
      For this reason, I don't think investing and enjoying life are always mutually exclusive at a young age. You can have both - saving/investing and enjoying life - at the same time, even when you're 19. Just my $0.02. Cheers, Lacey :)

  • Taav Jorden
    Taav Jorden Month ago +2

    Prepare your life for a career that inspires you to excel and the money will follow.

  • Lemon Squeezy
    Lemon Squeezy Month ago +1

    I’m really surprised this speaker is as “time rich” as she claims and remains obese.
    Obesity will likely shorten her lifetime by 10-15 years. That’s not very time rich.

  • Lemon Squeezy
    Lemon Squeezy Month ago

    I’m really surprised this speaker is as “time rich” as she claims and remains obese.
    Obesity will likely shorten her lifetime by 10-15 years. That’s not very time rich.

    • ringolo
      ringolo 24 days ago

      Not everyone who isn't perfectly proportioned is "obese."

    • Taav Jorden
      Taav Jorden Month ago +1

      Did you not listen to the whole talk, she addressed your point and moved on to the theme of the tedtalk.

  • Lemon Squeezy
    Lemon Squeezy Month ago +3

    I’m 38 and I’ve never worked a day in my life.
    I’m surprised more people haven’t figured this out.

  • Keoni Cast
    Keoni Cast Month ago +6

    This speech genuinely blossomed into a powerhouse message. Well done Lacey Filipich.

    • Maker Kids Club
      Maker Kids Club Month ago

      Thanks so much Keoni Cast, thrilled you liked it :) Cheers, Lacey

  • MrFuchew
    MrFuchew Month ago +1

    make so much money that you can do whatever you want! revolutionary why didn't i think of that?

  • Creating Julie Silversmyth
    Creating Julie Silversmyth 2 months ago +46

    I’m at home growing food, raising a kid and farm animals... making a lot of my own stuff. This made me feel great about the path I’m on. Thank you!

  • Saif Uddin
    Saif Uddin 2 months ago +1

    Good practice on the theory of Rich Dad Poor Dad by Robert Kiyosaki.....

  • Blue Bird
    Blue Bird 2 months ago +69

    Why don't they teach kids in school about money...investing and saving....that would be helpful...

    • The Audacious Investor
      The Audacious Investor Month ago

      You wouldn't want to be an employee if they did.

    • Misha Minute
      Misha Minute Month ago

      Silly....North American schools adopted their values from the German Prussian Military Educational System which focused on soldier conformity and submission to authority. Financial literacy is for self determined individuals; not for factory workers who rely on an employer for their livelihood. As your boss, I control what you need to know about money and your financial independence is NOT what meets my needs.

    • Kathleen Povey
      Kathleen Povey Month ago

      I was taught it in a rural public school in the 1980's.

    • Maker Kids Club
      Maker Kids Club Month ago

      @Taav Jorden I tend to agree with you. There's two metrics often used in financial education: literacy and capability. Literacy is getting the answers right on tests. Capability is applying the lessons in real life. I find there's a gap, and though of course higher literacy should mean higher capability, it's not delivering the practical skills every time. I much prefer financial education that asks students to apply their knowledge so they become financially capable, rather than answering hypothetical questions on tests to score well on literacy metics. Cheers, Lacey

  • Biddybalboa
    Biddybalboa 2 months ago

    her voice is awful

  • Biddybalboa
    Biddybalboa 2 months ago

    Gahd No one cares about your awful photos damn ted talkers

  • Harry McRae
    Harry McRae 2 months ago +1

    Food for thought. I’ll watch this again in the morning just so that it refreshes my mind!

  • Harry McRae
    Harry McRae 2 months ago +1

    Food for thought. I’ll watch this again in the morning just so that it refreshes my mind!

  • Harry McRae
    Harry McRae 2 months ago +1

    Food for thought. I’ll watch this again in the morning just so that it refreshes my mind!

  • Aleksandr Vasilenko
    Aleksandr Vasilenko 2 months ago +2

    Tell that to someone living paycheck to paycheck and has no extra spending to cut out.

    • Maker Kids Club
      Maker Kids Club 2 months ago

      It's a good point Aleksandr. There are times in life (sometimes many years or decades) where you're living on a shoestring and there really isn't anything available to save. If that's you (or anyone else reading this thread): be gentle with yourself. One day there will be extra money that you can save. Just not right now, and that's OK. Cheers, Lacey

    • BlackWorldTraveler
      BlackWorldTraveler 2 months ago +1

      Aleksandr Vasilenko
      She wouldn't.
      It doesn't apply to you.

  • R Peirce
    R Peirce 2 months ago +4

    100% agree. On my way to time rich in a couple of years, late 30's , with a family. Looking forward to it.

    • Maker Kids Club
      Maker Kids Club 2 months ago

      That's brilliant, congrats. Hope you enjoy it :) Cheers, Lacey

  • Clinton Tsang
    Clinton Tsang 2 months ago +8

    And then life throws you a curve ball.

    • Dilettante_Elite _
      Dilettante_Elite _ 2 months ago

      @H Man I think you're confusing your sports.

    • H Man
      H Man 2 months ago +1

      There will always be curve balls. Roll with the punches.

    • BlackWorldTraveler
      BlackWorldTraveler 2 months ago

      Clinton Tsang
      Or it doesn't.

    • Dilettante_Elite _
      Dilettante_Elite _ 2 months ago +1

      Or your whole life is a curve ball and you never make enough to take mini-retirements

  • Jeff Chin
    Jeff Chin 2 months ago +5

    Exactly the affirmation I’m looking for. She nailed it perfectly. 👍

    • Maker Kids Club
      Maker Kids Club 2 months ago

      Thanks Jeff, much appreciated :) Cheers, Lacey

  • danninemx
    danninemx 2 months ago +10

    What is more often understated than the possibility of FIRE is that you need to be able to acquire a high income source early in life to enable such compounding. The rest kind of falls into places if you are not wasteful.

    • Maker Kids Club
      Maker Kids Club 2 months ago

      I agree with Julie K - a higher income gives you speed if you use it wisely. It's not essential, but sure makes things easier as you don't have to make as many 'can I live without this?' choices to save a lot. Like you say danninemx, not being wasteful is the key :) Cheers, Lacey

    • Julie K
      Julie K 2 months ago +3

      A high income is, of course, desirable, but the key is learning/being able to live on half of what you make, no matter how what that number is. Live on half of your earnings and invest the other half until the earnings equal your living expenses. The individual has to decide how little or how much they're willing or able to do with or without.

  • Maxim Bollansée
    Maxim Bollansée 2 months ago +4

    BOOM! They don't teach it in school! That is the biggest mistake in the school system, they don't teach enough about economics and just how to live your life in general... Sad but true! Great video!

    • Maker Kids Club
      Maker Kids Club 2 months ago

      Thanks Maxim. Agreed - wish there was more economics and life skills in school. What to take out of the curriculum to make room for it is a tricky question though. Cheers, Lacey

  • PaiN ExoTiC
    PaiN ExoTiC 3 months ago +1

    I support FIRE because it gets rid of this entitlement culture that is prevalent with young people nowadays. With politicians like Bernie sanders, students are wanting everything for "free" and NOW without having worked for it because they are being taught that they are oppressed. Not only that, schools are completely failing students for actual real world problems they will face. Personal finance should be a mandatory class, not bullcrap classes like spanish or band.

  • jean lenor
    jean lenor 3 months ago +11

    Will retire once my 8 unit apartment is rented. Cant wait

    • jean lenor
      jean lenor 2 months ago +1

      @Ravyn Pierce Yw, thanks

    • Ravyn Pierce
      Ravyn Pierce 2 months ago +2

      @jean lenor Thank you! Good luck to you too :)!!

    • jean lenor
      jean lenor 2 months ago +3

      @Ravyn Pierce It is well worth it if you know what you are doing. It will allow me to retire from driving for uber long hours and from ever working for anyone anymore at just 34 years old. It is the best investment out there.
      Get educated and by all means move forward! Good luck!

    • Ravyn Pierce
      Ravyn Pierce 2 months ago +2

      We were thinking about owning apartments. Is it worth it?

  • NKS S
    NKS S 3 months ago +1

    So true, but sadly few can slow down, this superfast society is not for a happy society..

  • Sprites the Chaser
    Sprites the Chaser 3 months ago

    and everyone that does that raises the bar a little higher for the following ones

  • ventende
    ventende 3 months ago +1

    Pst. Blue horseshoe loves Anacot Steel.

  • J Carver
    J Carver 3 months ago

    I really want to hear her message but it is such a huge turn off when I see people who cannot control their own body weight. Makes you wonder what they know about anything else.

    • ringolo
      ringolo 24 days ago

      Really? Nobody lacking a perfect body can have anything valuable to share with you? That's so sad.

    • Jade Storm
      Jade Storm 3 months ago +1

      ... or maybe, she is on a weight loss journey.

  • BocaDelCielo Playa
    BocaDelCielo Playa 3 months ago +5

    i still prefer "analog" books. (meaning printed on paper versus digital, hard to dog-ear, highlight, sticky note on digital, plus digital gets forgotten- i will see the paper book on my shelf. cheers mates.)

  • Doctor Dividend
    Doctor Dividend 3 months ago

    Everyone who does "FIRE", simply quits their respective job and then blogs online...working as a blogger making money...so not really what it seems

    • PaiN ExoTiC
      PaiN ExoTiC 3 months ago +1

      Not true. Fire is made up of hundreds of thousands of people. A few hundred bloggers who happen to blog about their FIRE experience doesn't represent the entire community. In fact, most of the bloggers of fire are financially independent BEFORE they start a blog, inwhich they show people how they obtained the status. The only thing I do agree with is that there are too many FIRE blogs. Most of the stuff is getting regurgitated. I'd say to just take a personal finance course and read some books on frugality and residual income and leave it at that. You do not need to subscribe to 25 blogs about FIRE.

    • Maker Kids Club
      Maker Kids Club 3 months ago +1

      @Doctor Dividend Ha! Yes, there does seem to be a plethora of us - Mike Rosehart, Frugalwoods, Mr Money Mustache and Pat the Shuffler spring to mind. For every one of us, there are hundreds that don't blog - you just don't read about them because they don't share their stories publicly. So I'd say your use of the word 'everyone' isn't accurate - I'm also guessing that you didn't mean it in its literal form.
      But you've also hit the nail on the head - early retirement isn't the point. It's choosing how to spend your time. That might include work. Many who reach FIRE choose to spend it talking about FIRE.
      Thanks for the comment!
      Cheers, Lacey

    • Doctor Dividend
      Doctor Dividend 3 months ago

      Usually blogging about "FIRE"

  • nicoleta cazacu
    nicoleta cazacu 3 months ago +2

    You have a very wise mother. I envie you! I want you to learn me how to become financial free.

  • Roman Tengist
    Roman Tengist 3 months ago +3

    Thank you so much for finding my life goal!!! (sorry for my english)

    • Maker Kids Club
      Maker Kids Club 2 months ago

      Thanks for the comment Roman, glad you liked it :) Cheers, Lacey

  • FinBrain Technologies
    FinBrain Technologies 3 months ago

    FinBrain Technologies has developed Deep Learning algorithms for modeling the future price movements of the financial assets, you can visit our website for more.

  • JonesJr876
    JonesJr876 3 months ago +1

    Great Job

  • Secretly a celebrity
    Secretly a celebrity 3 months ago +13

    I HHAAAATE working and im working on a dividend portfolio :) I love it

    • Ivy Riego De Dios
      Ivy Riego De Dios Month ago

      just started..oooohhh so exciting isnt it?

    • Kyle L
      Kyle L 3 months ago +1

      Doing the same thing

    • Kyle L
      Kyle L 3 months ago +2

      Secretly a celebrity I feel the same way

    • RB Colbert
      RB Colbert 3 months ago +2

      Awesome!! That's what I plan to do.

  • Coetzee Diedericks
    Coetzee Diedericks 3 months ago +2

    So what is the message here? That laziness is okay?

    • Coetzee Diedericks
      Coetzee Diedericks 3 months ago +2

      @Maker Kids Club Cool. I've published an ebook on Amazon. It's called 'The Interconnected Pyramid of Life Mastery'. It teaches people how to overpower hardships, rather than run from them :)

    • Maker Kids Club
      Maker Kids Club 3 months ago

      @Coetzee Diedericks Right, that makes sense. Thanks for clarifying. PS. I'm the speaker in this video. Thanks for the feedback, interesting you found my actions laziness, I haven't heard that one before. Cheers, Lacey

    • Coetzee Diedericks
      Coetzee Diedericks 3 months ago

      @Maker Kids Club My comment was directed at her opening thoughts. When she got sick, she started looking for a way out of her circumstances, rather that rising to the challenge to overcome them. I usually watch motivational vids, and I didn't find this lady's story motivational at all.

    • Maker Kids Club
      Maker Kids Club 3 months ago +1

      My $0.02: I'm agnostic on how people spend their time once they're financially independent (FI). They can be lazy, or not, if they want. It's about having the choice.
      Not many who reach FI could be called 'lazy' - most seem to become prolifically productive if the publicly available examples are anything to go by (e.g. Mike Rosehart, The Frugalwoods, Mr Money Mustache, Vicki Robin).
      Cheers, Lacey

  • bobekfpj
    bobekfpj 3 months ago +2

    8:40 yeah, that all good and all but only in theory. Most people live through paycheck to paycheck and you just told those people to invest so that in future they wont need a job, that is a pipe dream proposed by an rich executive who can afford to invest. Even if someone manage to put away some money, most of us dont have a clue how or in what to invest and you can easily loose all your money on bad investment.

    • PaiN ExoTiC
      PaiN ExoTiC 3 months ago +1

      then take a personal finance course or read some basic books on personal finance. We literally live in the age of information. You are on the internet, inwhich information is EVERYWHERE. I taught myself so many topics through the internet it's crazy. Unless you are new to the internet, there is no excuse for why you can't learn something lol. There are hundreds of books and thousands of articles/videos pertaining to an infinite number of topics.

    • Maker Kids Club
      Maker Kids Club 3 months ago

      It's a really important point you make bobekfpj. Lack of education around how to invest means people who do it blindly are at real risk of losing all their money on a bad investment. But I disagree that makes it a pipe dream - investing isn't as hard as it's made out to be (mostly by people and companies who want you to pay them to do it for you). Some education goes a long way, and being on a high income is not essential - it just gets you there faster. If you have a scroll down these comments, you'll find a few people offering themselves as evidence - John Kay, Mike Rosehart, and I can offer my mum as an example: she started at 49yo, on a moderate income, and got to independence at 63yo, with conservative, sensible investing. Cheers, Lacey

  • Sani Laomahei
    Sani Laomahei 3 months ago +1

    Omg I love this

    • Maker Kids Club
      Maker Kids Club 3 months ago

      Thrilled to hear it, thanks Sani! Cheers, Lacey

  • Ivan Dmitry
    Ivan Dmitry 3 months ago +1

    I want step by step to get my game on track. Not a life story. Thank you!.

    • Maker Kids Club
      Maker Kids Club 3 months ago

      Thrilled to hear it Ivan, because I'm two weeks away from submitting my first draft of the 'how to' for this process to Penguin Random House. They approached me in July 2018 (four months before I delivered this talk) to write a book on the topic. I'm super excited about it, though I've got a lot of work to do before it goes to print (it's sitting at 82k words, gotta get it down to 65-70k words). It's my version of step-by-step with minimal life story (though I do share lots of personal examples of the mistakes I've made and what I got right - they're an adjunct to the content, not the main part). Hope you'll enjoy it when it hits the shelves! Cheers, Lacey

  • Kay Realist
    Kay Realist 3 months ago +16

    I went FIRE when I was 35 and loving this freedom in life. Anyone who criticize one who lives FIRE only do so cause they do not understand.

  • Annie Le
    Annie Le 3 months ago +2

    She is so great and deep! Totally agree with her! We r on our way to financial and time freedom. Thanks so much for this wake up call to ppl who r recklessly spending their time and money

  • sebastian blake
    sebastian blake 3 months ago +1

    such a wonderful speech i completely resonated with what you said and im currently on my way to being financially free.

    • Maker Kids Club
      Maker Kids Club 3 months ago

      Awesome work sebastian, wishing you all the best with it! Thanks for taking the time to comment :) Cheers, Lacey

  • SevenRiderAirForce
    SevenRiderAirForce 3 months ago +2

    It's very frustrating to hear people talk about "advantages" and "privilege" when they see someone in their 20s with a high-paying job. Newsflash - while you were off doing who knows what, these people have been working hard in school in order to land high-paying jobs, or they've started their own businesses. They weighed the cost of college with the earning potential upon graduation with a degree. They manage their finances properly with budgets, and they save and invest. It's amazing how people shamelessly argue that they're too incompetent to be able to do this stuff. Oh and decades of data on millionaires show that the vast majority are first generation, so for every person you correctly assume "comes from privilege," there are like 8 that you're dead wrong about.

  • Audrey J
    Audrey J 3 months ago +1

    Such a great talk, I didn’t know there was a name to it, but I’m in my early 30s with 4 mini-retirements behind me! One being a bartender in London for 6 months, worked as a flight attendant, lived in Thailand for 4 months, and almost 2 months in Spain as a documentary filmmaker!
    Live your life now! Keep learning and take risks. Tie your life experiences into your work and resume. The rest will always fall into place :)

  • MrYort13
    MrYort13 3 months ago +2

    So live in a shoe box till you can afford to live in a shoe box without working? All while raising a child ... No thank you.

    • Maker Kids Club
      Maker Kids Club 3 months ago +2

      Well, that's not how I've done it. I've had a comfortable and enjoyable life. But each to their own :) Cheers, Lacey

  • Katharina FitGlam
    Katharina FitGlam 3 months ago +2

    so sad that the school system doesn‘t teach this... when I found out about all of this I was in my late twenties and my life was already screwed up... I wish I had a time machine

    • Ravyn Pierce
      Ravyn Pierce 2 months ago

      Yes girl! A fellow vegan showing others that we can be body builders too

    • Maker Kids Club
      Maker Kids Club 3 months ago +3

      Late 20's is well ahead of many I talk to who don't start till they're on the downhill run to retirement, so you're still ahead of the game in that way. Agreed though, a time machine would be helpful :) Cheers, Lacey

  • Ivy Gomez56
    Ivy Gomez56 4 months ago +2

    When people see you retire early, they think you’re lazy and tell you to go get a job.

    • BlackWorldTraveler
      BlackWorldTraveler 2 months ago

      Ivy Gomez56
      I'm the millionaire next door and never cared what people think.

    • Julian Johnson
      Julian Johnson 2 months ago

      those people are jealous.

  • Cristal Hsin Yee Kua
    Cristal Hsin Yee Kua 4 months ago +1

    Lacey, thank you. Your message is simple and heart warming. Indeed, worth spreading - - - - why we worked ourself to death????? 🤭

    • Maker Kids Club
      Maker Kids Club 2 months ago

      Thanks Cristal, thrilled you liked it :) Cheers, Lacey

  • dianne rosario
    dianne rosario 4 months ago +5

    As an artist, i've chosen to give myself more time to create by working a few small jobs and living very simply. And i'm quite happy with the work i've produced considering i dont have an art degree. But I wish i'll soon figure out how to work towards financial independence without having to give up on my art.

  • L.A. Rivas, Esq.
    L.A. Rivas, Esq. 4 months ago +4

    Our society doesn’t know how to deal with people who stop working before the culturally acceptable age of 62 or 65. What do you say to people that ask you what you do for a living? Saying that you’re retired can foreclose financial opportunities. It sometimes triggers negative reactions from people struggling to get by. And, if those people are family, they want you to financially support them too!

    • Vsevolod Oparin
      Vsevolod Oparin 3 months ago

      I think it's fine. All in all, a person could find some meaningful activity that makes him feel and look way better than others who just earn money. It's more interesting about economical impact, if this movement will grow up hugely. If nobody will work, it can easily cause slow down in economics of the country. Though it can be reflected in the growth of stocks, and those who retired early may meet necessity to work again after years of idling...

  • Fredrik
    Fredrik 4 months ago +1

    The most important thing is start saving early. I wish I started 20 years ago, but instead I just kept my money in bank account that pays very little interest. Also you need to make some sacrifices which means taking the bike or bus instead of the car, live in a smaller and cheaper home and buying cheaper food. Now I will be able to retire at almost 40, but it would have been nicer if I was able to do this earlier.

    • Audrey J
      Audrey J 3 months ago

      Any advice for someone in their early 30s with a lot in savings earning very little interest? I just started my research and there is so much to know and learn, I have absolutely no clue where to start! Just last year I started putting 20% of income into 403b retirement (something I’m still learning about), but wish there was more I can do.

  • Ian Hart
    Ian Hart 4 months ago +1

    I think Calvin did this sort of thing 500 years ago

    • Ian Hart
      Ian Hart 4 months ago +1

      @Maker Kids Club Calvin was one of the great Protestant Reformers. Swiss by birth his philosophy was spread over the white Western world by the East Anglian Congregationals, the Scottish and Ulster Presbyterians, the French Huegenots and the Dutch Reformed

    • Maker Kids Club
      Maker Kids Club 4 months ago

      Yep, there's nothing new about this strategy - it's been around as long as money has been :) I don't know much about Calvin though, so can't comment on that. Cheers, Lacey

  • Jesper Gotthelf
    Jesper Gotthelf 4 months ago +20

    30 hours workweek is the answer, but its only possible with strong unions

    • sgg17003
      sgg17003 Month ago +2

      That's because most union workers only work half the time, if that. Sometimes they even do tons of overtime while doing as little as they can. I've been in 2 unions and worked briefly in steel as a non union (hence briefly) and with covention services and I've seen companies fail because of unions. Unions were the hero of the day and were needed but are now their own worst enemy.

    • Maker Kids Club
      Maker Kids Club 4 months ago

      I love this idea. Came across Rutger Bregman's 'Utopia for Realists' last year, I liked his 15hr work week discussion. Thanks for the comment Jesper :) Cheers, Lacey

  • puppy love
    puppy love 4 months ago

    smoke n mirrors

    • Bigboss304323
      Bigboss304323 2 months ago

      LOL, wat? She is talking about delayed gratification. Saving and investing. Its kind of the things that make the world go around. Its been proven. Why do you think it is smoke n mirrors?

  • Mike Rosehart
    Mike Rosehart 4 months ago +4

    I'm living proof. I was able to FIRE by 24. I used real estate investing to accelerate the journey, but maintained nearly 88% savings rates between the wife & I. I do a ton of free RU-clip content now. It's great fun.

    • Mike Rosehart
      Mike Rosehart 4 months ago +1

      SURAJ it’s tricky but keep looking! See 100 properties :)

    • SURAJ
      SURAJ 4 months ago +2

      Iam 30 and tring hard yet to zero in to my first realestate deal.

    • Maker Kids Club
      Maker Kids Club 4 months ago +1

      @Mike Rosehart and this is where I out myself as an embarrassment to Gen Y: I don't have Insta :| But I have followed you on Facebook and via your blog as well as RU-clip, so will get your updates there :)

    • Mike Rosehart
      Mike Rosehart 4 months ago +1

      Maker Kids Club hit me up on Instagram @mikerosehart

    • Mike Rosehart
      Mike Rosehart 4 months ago +1

      Maker Kids Club thanks Lacey. Awesome! Thanks for subscribing to my RU-clip channel as well, appreciate that.

  • 1MinuteFlipDoc
    1MinuteFlipDoc 4 months ago +2

    FIRE when the stock market dives.

  • cupslinga
    cupslinga 4 months ago +2

    Where did 'Fred's' uni fees disappear too 🤔

    • cupslinga
      cupslinga 4 months ago +1

      Maker Kids Club thanks for the reply 👍
      Couldn't agree more as age consumes my life,
      I guess not everyone can have the 'blogger/online' etc dream, or have this pattern of employment as it's a nightmare scenario for employers, superannuation etc
      Meanwhile, myself will be trying to set my children up for when the baby boomers destroy the system in a few years....

    • Maker Kids Club
      Maker Kids Club 4 months ago +2

      Good question. Not sure. Anyone else know when/how MMM paid for his engineering degree?
      In my case, my debt was $20k upon finishing my engineering degree. Australia has a government-administered contribution scheme where you accumulate the debt while you study, then it's slowly paid off automatically from your wages once you go past a certain minimum threshold earning rate post graduation. The program is called HECS. It took five years for my debt to 'disappear' (i.e. be paid off from my wages). HECS is the cheapest loan you'll get in Australia because the interest rate is based on the inflation rate, so it was debt I was willing to take on. Cheers, Lacey

  • Manos Seferidis
    Manos Seferidis 4 months ago +1

    Seems like this "strategy" simply moves the problem. Now you end up not enjoying your life between 20-30s like most people because you will be saving for this mini-retirement. I have a better idea. Why not ask your parents when you're 5, to give you money on each Christmas and birthday and save that for an extra mini-retirement at your 20s! lol

    • Maker Kids Club
      Maker Kids Club 4 months ago

      Ha! An interesting idea. I've got a 5yo, I better not let them read this...
      Yep, I worked hard in my 20's. But I also had lots of fun. Life wasn't boring or a struggle except when I worked myself too hard. It was about 18 months in 10 years that sucked - not a terrible ratio. I don't think working towards time rich and enjoying life have to be mutually exclusive. Cheers, Lacey

  • Fastnail
    Fastnail 4 months ago

    She looks like she spends all her time eating.

  • John Kay
    John Kay 4 months ago +27

    I enjoyed your presentation & its content. Very informative. I'd never even heard of F.I.R.E. before, so this is new to me. Having read through quite a few of the comments, I especially applaud that you take the time & effort to answer & reply to ordinary people & in such a measured, polite & empathetic manner - well done.
    I am somewhat older, male & reside within the UK, & I think that I have been living most of my life to an approximate & similar methodology without knowing about FIRE, (except for the period when I was married). From my start in life as an orphan boy in foster care & little materially, I've studied hard all throughout my life (never ever stop learning), worked consistently hard & long hours, led a mostly frugal life & yet enjoyed relatively simple pleasures along the way (playing tennis, playing guitar, wine making, DIY). Although I'll never be a millionaire (& I don't have any great desire to be), I own my own modest house & had paid off the mortgage by age 30. Made the massive mistake of marrying the wrong type of woman (cost me massively mentally, emotionally & financially). Divorced now for the last 19-years & have managed to turn around the consequent financial distress & have now a reasonable portfolio of investments, 50% of which are in renewable energy (my passion of the last 7-years). So in answer to those comments by some that you cannot make it if you are now on a low wage & have a bad start; I've been there, including being made redundant twice (difficult times). No one can keep a good person down, keep trying & you will succeed eventually. Although I choose to keep on working part-time, I probably don't really need to, but I like the reason to have to get up every morning with a purpose.
    My apologies for the ramble, but I needed to say that if a plonker like me with a poor start in life can become moderately financially stable & comfortable after a life of consistent effort, then almost anyone can.
    Regards to all,
    JohnnnyK.

    • Maker Kids Club
      Maker Kids Club 4 months ago +4

      JohnnyK, your comment has made my day. Thank you for taking the time to share your story; it's a powerful one for those who feel like it's an impossibility for them to achieve financial independence. I really appreciate your lovely comments about my responses to posts on this video too. It's been wonderful to hear the variety of responses to the content and the questions it's raised for different folks. You don't know what you don't know, and many of the comments have opened my eyes to things I hadn't thought much about. I hope I'll write better content as a result. Having examples like yours to refer to it also brilliant, as it helps show that it's not just me that thinks this way. You're a gem. Cheers, Lacey

  • maillaarni
    maillaarni 4 months ago +1

    This is the peril of this talk. Too simplistic. We all have the same 24 hours as Obama and Beyonce? You lost me. Money is time and time is money. This is why everyone wants to be rich. If you have money, money will help you free up your time for other things you want to do. If you are not working for money to put food on the table, you are working to save so that you can hopefully free up some of your time later because you can afford not to work.

  • Tony Ng
    Tony Ng 4 months ago +1

    Thanks Lacey for presenting on this important topic. All the best with your business and future.

    • Maker Kids Club
      Maker Kids Club 4 months ago

      Thanks Tony Ng, much appreciated :) Cheers, Lacey

  • Nahinh cruizer
    Nahinh cruizer 4 months ago +1

    Here’s the deal guys. Data shows that the vast majority of people desire to travel but work and life come in the way and they don’t travel. These people know that and troll you with their travel glorifications. In reality, after you’ve bee n away for a bit you get sick 😷, tired and will desire to come back home. You don’t need to quit your job. Just go on a 2 week vacation if you absolutely need to every year or do whatever the fk makes you feel good. Live a good life by being happy.

  • Robert Paternoster
    Robert Paternoster 4 months ago +1

    food production problems = eat less meat, solved!

    • SURAJ
      SURAJ 4 months ago

      Eat only meat.

  • Shivo hum
    Shivo hum 4 months ago +1

    This is based on the assumption that your investment in stock market is going to pay you back. Really silly !!

    • Maker Kids Club
      Maker Kids Club 4 months ago

      If your chosen investment vehicle is stocks, then yes that would be an assumption. I'm not advocating for a specific investment, or diversity of investments - I'm somewhat investment strategy agnostic. Most people investing in any kind of asset are hoping it will pay them back and make more on top, and if it's done right with good timing, investing can do that. But yes, some people lose money and don't get paid back. It's a risk. Thanks for the comment Shivo hum. Cheers, Lacey

  • Ran
    Ran 4 months ago +3

    Loving this! I want to be on FIRE

  • BeGood 2Me
    BeGood 2Me 4 months ago +2

    It's good that she did this with kids.

  • cm1point5
    cm1point5 4 months ago

    "Please be quiet and let me drone on about myself"

  • GaylordFocker
    GaylordFocker 4 months ago +1

    I want to marry this woman

    • Maker Kids Club
      Maker Kids Club 4 months ago

      Already married :) But thanks for the lovely compliment! Cheers, Lacey

  • Honda Rescue Garage
    Honda Rescue Garage 5 months ago +1

    I plan on retiring in 5 years. I’m super excited about it. I’ve been working on my fortune for 2 years now. It has not been an easy road. I started with less than zero money. My only regret is that I didn’t learn that it was possible for me sooner.

    • Maker Kids Club
      Maker Kids Club 5 months ago

      That's awesome! All the best with your financial independence plan :) Cheers, Lacey

  • Aneliza Medeiros
    Aneliza Medeiros 5 months ago +1

    Fabulous!!!

  • Natalia Clarke
    Natalia Clarke 5 months ago +2

    yes, take more holidays for sure, thats my way

  • Christoph Pangritz
    Christoph Pangritz 5 months ago +1

    Great presentation.
    This fits to my experience, to become rich and happy it is not that important how much money you earn, it is important how much you spend. This savings as investments gives the chance for an early retirement.

  • Don O
    Don O 5 months ago +17

    That's great! Now time to hit the Gym, got to stay healthy now if you want to enjoy that early retirement longer.