Journal Club 09-08-23 – Passive Income MD – Passive Income Article

Here’s Journal Club 09-08-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

• The traditional FIRE (Financial Independence, Retire Early) movement has since evolved into various extensions of FIRE, allowing individuals to customize their retirement nest egg based on their lifestyle preferences without having to compromise on their spending habits. The Physician on FIRE discusses one such FIRE category in the article – FatFIRE: Everything You Need To Know. Check it out.

• A Roth IRA is an excellent tax-advantaged retirement account where you can enjoy tax-free withdrawals in retirement. However, The Prudent Plastic Surgeon asks an interesting question – should we use a Roth IRA as a backup emergency fund? And the author weighs the pros and cons of considering this strategy from a financial security standpoint in the article – Can Your Roth IRA Be A Back-Up Emergency Fund?

• Generally speaking, earning passive income plays a monumental role in achieving financial independence and early retirement goals. Per the author of Retire by 40, there are several different sources for generating passive income. Further, the author discusses the…