Correct if I’m wrong , but a lot of FIRE strategies involve eliminating debt, lots of savings, & investing the money in the markets & rental properties.

Shouldn’t owning a business be one of the key components?

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Starting a business sucks cash, so not really. It’s a gamble with a lot of potential upside. FIRE is stacking investments until you have enough to not work anymore.

likesmart

If you are running a business, you aren’t retired. Even structured as a business, advisors run it but it’s not like a real business. No employees, no overhead, no customers.

Rental properties are a business

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Key word here is independence, which means passive income.

If you play a key role in your business then it’s not really passive.

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Maybe not a "key" but certainly a consideration.

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Investing is kinda like owning a business.

likehelpful

Actually you’re entitled to a share of the assets after creditors are paid upon dissolution and you can vote (or assign your vote to a proxy) for the board of directors who direct the company...

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Owning a business - Yes. This is exactly what cash equity is. Ownership of businesses.

Running a business - Maybe. This is, at the end of the day, a job.

Building a business - Usually not. This is similar to the live frugally for a bright future concept, only takes a lot of work and risk. Think- working out the garage for long hours and low pay the first 5 years. The FIRE plan generally is one which is dumb and simple enough for the masses, requiring only discipline. Building a business requires some aptitude and active work.

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“Financial independence” - financial state in which you live your life as you please.

Is it truly passive if you’re constantly reviewing your holdings, checking the market, and performing any actions to ensure the cash flow is positive?

And you certainly will pay attention if/when all your cash flow depends on your investments.

I’d like to see a person in their 70s who can truly state that they practised FIRE, retired in their 40s, haven’t had a business since, and still had enough funds to last them for the rest of their lives.

This is the whole point of FIRE. You save enough money that you can live off 4% of your savings after retirement. With the assumption that over time your $ will make more than 4% each year. You should not need to run any business (if you don’t want).

smart

Owning stock is owning a business...

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