mirror of https://github.com/ghostfolio/ghostfolio
Thomas Kaul
2 years ago
committed by
GitHub
GitHub
13 changed files with 470 additions and 104 deletions
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import { NgModule } from '@angular/core'; |
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import { RouterModule, Routes } from '@angular/router'; |
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import { AuthGuard } from '@ghostfolio/client/core/auth.guard'; |
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import { ExploringThePathToFirePageComponent } from './exploring-the-path-to-fire-page.component'; |
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const routes: Routes = [ |
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{ |
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canActivate: [AuthGuard], |
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component: ExploringThePathToFirePageComponent, |
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path: '', |
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title: 'Exploring the Path to FIRE' |
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} |
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]; |
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@NgModule({ |
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imports: [RouterModule.forChild(routes)], |
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exports: [RouterModule] |
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}) |
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export class ExploringThePathToFireRoutingModule {} |
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import { Component } from '@angular/core'; |
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@Component({ |
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host: { class: 'page' }, |
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selector: 'gf-exploring-the-path-to-fire-page-page', |
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styleUrls: ['./exploring-the-path-to-fire-page.scss'], |
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templateUrl: './exploring-the-path-to-fire-page.html' |
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}) |
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export class ExploringThePathToFirePageComponent {} |
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<div class="blog container"> |
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<div class="row"> |
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<div class="col-md-8 offset-md-2"> |
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<article> |
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<div class="mb-4 text-center"> |
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<h1 class="mb-1"> |
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Exploring the Path to Financial Independence and Retiring Early |
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(FIRE) |
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</h1> |
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<div class="mb-3 text-muted"><small>2023-07-01</small></div> |
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<img |
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alt="Exploring the Path to Financial Independence and Retiring Early (FIRE) Teaser" |
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class="border rounded w-100" |
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src="../assets/images/blog/20230701.jpg" |
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title="Exploring the Path to Financial Independence and Retiring Early (FIRE)" |
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/> |
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</div> |
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<section class="mb-4"> |
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<p> |
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In this article, we will explore the concept behind FIRE and |
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thoroughly discuss the pros and cons of this increasingly popular |
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movement. |
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</p> |
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</section> |
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<section class="mb-4"> |
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<h2 class="h4">The Idea behind FIRE</h2> |
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<p> |
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FIRE, short for <i>Financial Independence and Retiring Early</i>, is |
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a movement that promotes the idea of saving and investing a |
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significant portion of one’s income in order to achieve financial |
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independence and retire at a young age. The core principle of FIRE |
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is not unconditionally quitting work, but rather attaining the |
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freedom to pursue meaningful activities and experiences without |
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relying on traditional employment. |
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</p> |
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<p> |
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At the heart of FIRE lies the famous 4% rule, originated in the |
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<a href="https://en.wikipedia.org/wiki/Trinity_study" |
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>Trinity study</a |
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>. This rule suggests that if you withdraw 4% of your investment |
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portfolio (usually based on low-cost index funds) in the first year |
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of retirement and adjust that amount for inflation in subsequent |
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years, your savings have a high likelihood of lasting for a 30-year |
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retirement period. The 4% rule serves as a guide to determine the |
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amount that can be safely withdrawn from a retirement portfolio each |
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year without depleting savings prematurely, allowing individuals to |
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sustain their desired lifestyle throughout retirement. |
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</p> |
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<p> |
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By multiplying your anticipated annual expenses by 25, you obtain an |
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estimate of the total retirement savings required to sustain your |
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lifestyle, assuming a 4% withdrawal rate. |
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</p> |
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</section> |
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<section class="mb-4"> |
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<h2 class="h4">The power of FIRE</h2> |
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<p> |
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FIRE grants individuals the freedom to make choices based on their |
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personal values, liberated from financial constraints. By achieving |
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financial independence, individuals gain control over their time and |
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resources, enabling them to live life on their terms. |
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</p> |
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<p> |
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One of the primary benefits of FIRE is the ability to retire early, |
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affording individuals the opportunity to pursue their passions, |
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spend quality time with loved ones, engage in meaningful projects, |
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and prioritize personal growth. Early retirement promotes a more |
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balanced lifestyle and allows individuals to savor life while they |
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are still young and full of energy. |
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</p> |
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<p> |
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FIRE encourages adopting a frugal mindset and intentional spending, |
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resulting in reduced financial stress. By living within their means |
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and focusing on what truly brings them joy, individuals experience |
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greater peace of mind, improved well-being, and a stronger sense of |
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financial security. |
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</p> |
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<p> |
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FIRE grants individuals a higher level of autonomy and empowerment |
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over their schedules and the activities they choose to pursue. |
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Whether it involves exploring new career paths, starting a business, |
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or embarking on extensive travel, FIRE provides the flexibility to |
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determine how time is spent and how life is shaped. |
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</p> |
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</section> |
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<section class="mb-4"> |
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<h2 class="h4">The challenges of FIRE</h2> |
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<p> |
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Achieving FIRE often demands strict budgeting, aggressive saving, |
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and making sacrifices for years to secure a financially independent |
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future. This may involve cutting back on discretionary expenses, |
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deferring major purchases, or adopting a simpler lifestyle to |
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achieve long-term goals. |
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</p> |
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<p> |
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FIRE heavily relies on investments and the performance of financial |
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markets. Economic downturns or unexpected market fluctuations can |
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impact investment portfolios and potentially delay or jeopardize |
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early retirement plans. Developing a robust financial plan, |
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diversifying investments, and periodically reassessing your |
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withdrawal strategy is crucial. |
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</p> |
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<p> |
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This particular aspect of FIRE requires thoughtful deliberation and |
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strategic planning to ensure a consistent and reliable stream of |
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retirement income throughout one’s lifespan. |
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</p> |
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<p> |
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Retiring early often means stepping away from a career and |
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potentially losing the professional identity and social connections |
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associated with it. Giving careful thought to how early retirement |
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might influence one’s sense of purpose is crucial, as it prompts the |
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exploration of alternative avenues to stay engaged and fulfilled. |
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</p> |
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</section> |
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<section class="mb-4"> |
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<h2 class="h4">Achieving FIRE for a fulfilling future</h2> |
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<p> |
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Financial Independence and Retiring Early (FIRE) is a fascinating |
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concept that has gained significant traction in recent years. It |
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offers individuals the opportunity to break free from financial |
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constraints, pursue their passions, and gain control over their time |
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and resources. While FIRE comes with its own set of challenges, the |
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potential benefits are substantial. Whether you choose to fully |
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embrace FIRE or adapt its principles to suit your personal goals, |
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it’s crucial to approach it with careful planning and a clear |
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understanding of the advantages and disadvantages. |
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</p> |
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<p> |
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Knowing your financial situation and tracking it diligently is vital |
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on your journey to FIRE. This is where the power of |
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<a href="https://ghostfol.io">Ghostfolio</a>, a comprehensive open |
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source wealth management software, comes into play. By leveraging |
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Ghostfolio, you can gain deep insights into your financial health, |
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track your investments, and make informed decisions to accelerate |
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your progress towards financial independence. Ghostfolio also |
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provides a dedicated |
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<a [routerLink]="['/features']">FIRE calculator</a>, allowing you to |
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simulate your customized plan to achieve FIRE. You get the tools to |
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optimize your financial journey and confidently strive for a future |
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that is both personally fulfilling and financially secure. |
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</p> |
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</section> |
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<section class="mb-4 py-3"> |
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<h2 class="h4 mb-0 text-center"> |
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Are you ready for your <strong>journey</strong> towards |
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<strong>FIRE</strong>? |
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</h2> |
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<p class="lead mb-2 text-center"> |
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Ghostfolio accompanies you on your path to financial independence. |
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</p> |
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<div class="text-center"> |
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<a color="primary" href="https://ghostfol.io" mat-flat-button> |
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Get Started |
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</a> |
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</div> |
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</section> |
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<section class="mb-4"> |
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<ul class="list-inline"> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">App</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Budgeting</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Calculator</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">FIRE</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Frugality</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Ghostfolio</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Health</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Independence</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Index Fund</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Investment</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Lifestyle</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Management</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Movement</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Open Source</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Personal Finance</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Planning</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Portfolio</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Retirement</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Savings</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Simulation</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Software</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Strategy</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Trinity Study</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Wealth</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Withdrawal</span> |
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</li> |
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<li class="list-inline-item"> |
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<span class="badge badge-light">Work-Life Balance</span> |
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</li> |
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</ul> |
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</section> |
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<nav aria-label="breadcrumb"> |
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<ol class="breadcrumb"> |
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<li class="breadcrumb-item"> |
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<a i18n [routerLink]="['/blog']">Blog</a> |
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</li> |
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<li |
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aria-current="page" |
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class="active breadcrumb-item text-truncate" |
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> |
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Exploring the Path to Financial Independence and Retiring Early |
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(FIRE) |
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</li> |
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</ol> |
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</nav> |
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</article> |
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</div> |
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</div> |
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</div> |
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import { CommonModule } from '@angular/common'; |
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import { CUSTOM_ELEMENTS_SCHEMA, NgModule } from '@angular/core'; |
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import { MatButtonModule } from '@angular/material/button'; |
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import { RouterModule } from '@angular/router'; |
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import { ExploringThePathToFireRoutingModule } from './exploring-the-path-to-fire-page-routing.module'; |
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import { ExploringThePathToFirePageComponent } from './exploring-the-path-to-fire-page.component'; |
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@NgModule({ |
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declarations: [ExploringThePathToFirePageComponent], |
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imports: [ |
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CommonModule, |
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ExploringThePathToFireRoutingModule, |
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MatButtonModule, |
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RouterModule |
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], |
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schemas: [CUSTOM_ELEMENTS_SCHEMA] |
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}) |
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export class ExploringThePathToFirePageModule {} |
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@ -0,0 +1,3 @@ |
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:host { |
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display: block; |
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} |
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After Width: | Height: | Size: 121 KiB |
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