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Stream 'Playing with FIRE' Documentary for Free (Normally AU $7.32)

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FIRE

I just saw this on reddit, thought I'd share here as well.

Here's the trailer. (According to the link, it usually costs $7.32 to stream over a 24 hour period, or $14.63 to stream anytime)

It's about the FIRE movement. FIRE stands for financial independence / retire early. Basically it's about living frugally, saving as much as you can, retire early, and live a good life without having to worry about money.

There was a FIRE-related article from ABC a while ago.


To watch the documentary for free, use this link. Password is FIRE (all capitals).

The documentary is pretty average and doesn't teach anything new about FIRE. But since it's free you can watch it and judge for yourself.

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Comments

  •  

    Any person who is true to the FIRE principles would never pay for this documentary. They would also be pirates and steal most of their online content.

  • +1 vote

    VGS, 2.25%, DRP, LIC, A200

    • +13 votes

      ABC, DEF, GHI, JKLMNOP, QRS, TUV

    • -1 vote

      50% vas 50% vgs

      • +5 votes

        50% VAS is way too much concentration risk. Not just as it's one country which is ~2% of the world market (and the same one your job etc. is, assuming you live here) but the index it tracks is one of the worlds most concentrated, extremely heavily weighted to the banks and miners. And depending on your POV the banks are potentially exposed to overpriced housing market and excessive household debt.

        •  

          Ffffrrraaaannnnkkkiiinnnnggggg

          • +2 votes

            @Ordinary Consumer: Total Return is where it's at. Sure, franking is not completely priced in so there's some benefit to overweighting Aus. IMO 50% is too much, and worse the Peter Thornhill cult followers are massively exposed without realising it as they haven't done their research properly. At least chrismelba has some reasonable diversification with 50% VGS.

            If there's a localised recession/market crash/debt crisis/stagflation etc. your franking credits wont save you. Have a look at the Nikkei graph for last ~30 years and ask the Japanese about investing home bias.

            •  

              @sav11: 60% 50/50 into IWLD & IHWL (hedged currency).

              40% into A200 or a cheap MER equal weight australian index fund (the latter being my preference atm).

              I have lots of other opinions too, dependant on personal circumstances.

        •  

          Yeah but I plan to retire in Australia so the benefit of having my investments denominated in Australian dollars seems worth it

          •  

            @chrismelba: Sure, you need to mitigate currency risk, especially the closer you are to retirement. But the way to do it is not by increasing concentration risk by heavily overweighting Aus investments. You can have international investments denominated in $AUD using currency hedging. Have a look at VGAD which is just VGS hedged to the $AUD.

            •  

              @sav11: Heya. I haven't started my investing journey yet. I'm currently still in the middle of information gathering stage.
              Would you mind sharing what you reckon are the advantages of VGS over its corresponding Vanguard retail fund? Do the brokerage fees negate VGS's lower management fee? Selfwealth & CMC appear to be popular here and they both aren't fee free.
              Thanks

              • +3 votes

                @snorkey: ETFs (e.g. VGS) vs unlisted funds it depends on how much you have to invest and how often, and whether you need to automate it. ETFs it's better to be investing in larger portions to make the brokerage worthwhile, commonly cited is minimum $5k parcels. Unlisted funds, after the initial investment you can Bpay in $100 with no brokerage. One big advantage of the unlisted funds which is not often mentioned is they are very helpful in mitigating behavioral risk, which is significant for most people. You can just set and forget. There are a few threads on Whirlpool about ETFs vs unlisted funds and someone on there did a detailed mathematical analysis.

                If you are researching investing and have done enough research/been smart enough to decide to go down the passive investing (ETFs/unlisted index funds) route I recommend reading the articles here: https://www.passiveinvestingaustralia.com/

  •  

    The entire movement is cherry picking and involves stated goals and promises of retiring in your 30s.

    Wrong. Anyway whatever the movement does or does not state is not attributable to me. Read back what I actually said.

    You are seeking out and "cherry picking" information to affirm your prior beliefs.

    "Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that affirms one's prior beliefs or hypotheses. It is a type of cognitive bias and a systematic error of inductive reasoning." Source https://en.wikipedia.org/wiki/Confirmation_bias

    • -1 vote

      Anyway whatever the movement does or does not state is not attributable to me

      Then why the hell are you arguing with me?

      You are seeking out and "cherry picking" information to affirm your prior beliefs.

      Look at those last 2 quotes. You're literally cherry picking in the first, and complaining about me cherry picking in the second.

      I'll repeat: You don't understand the difference "cherry picking" and "requiring evidence".

      • +1 vote

        Just read this thread randomly and noticed you are very passionate in your multiple responses - just interested to find out why is this and what is your story?

        •  

          Perceptive question. I'd hypothesize this comment from her post above has something to do with it:

          How about you google: "Fool me once, shame on you. Fool me twice, shame on me."

        •  

          Yes I'm passionate about it because people are being sucked into something very like a cult.

      •  

        Then why the hell are you arguing with me?

        Why not, am I not allowed to debate unless I represent the movement and every statement it's ever made?

        Look at those last 2 quotes. You're literally cherry picking in the first, and complaining about me cherry picking in the second.

        I neither "cherry-picked" nor complained about anything. I simply demonstrated that you are repeatedly using cognitive bias despite your protests to the contrary.

        I repeat: read back what I actually said.

        •  

          Why not? Because you are using yourself as an example to argue about something that you claim not to be participating in. In other words you aren't making much sense.

          I neither "cherry-picked" nor complained about anything. I

          I don't believe you even understand the meaning of that phrase.

  •  

    Anyother link to watch the movie for free ?

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