FiRE@40! (Applied Personal Finance)

Do you want to achieve FIRE*, have financial success, significantly improve your financial situation, and gain financial freedom? This is a book on personal finance that everyone should have received in high school. Part I explains the economics that surround us. The main section, Part II, uses practical, everyday examples to show how students, young adults, and ordinary wage earners easily can apply financial theory to personal financial issues in their daily lives. The book also includes 38 self-test exercises with summary answers. The book's main content covers:Part I: Exogenous factors (Macro- and business economics):- Macroeconomics: National product, fiscal and monetary policy, unemployment, and inflation.- Microeconomics: Supply and demand, elasticity, monopoly, and perfect competition.- Behavioral economics: Loss aversion, nudging, and the paradox of choice.- Business economics: Costing models and pricing strategy. Part II: Endogenous factors (Personal finance and finance):- Costs and the time value of money: Opportunity cost, present value, and future value.- Loans and debt: Serial loans, annuity loans, current debt, credit cards, and effective interest rates.- Saving and investing: Bank deposits, portfolio theory, stocks, funds, and gearing.- Interest rates: Real, effective, and nominal interest rates, as well as the tax impact on debt.The book provides an overview, insight, and the practical training needed for everyday life, alongside the theoretical explanations of the underlying causes and how you can leverage this knowledge. This is the approach used by the FIRE* generation-as well as professionals with degrees in business and economics (such as MEA, or MBA)-explained in everyday language for your own personal life. It covers everything from the introductory section on macroeconomics to the final chapter on the concept of infinite growth. The author has created Excel apps and models that mirror the book's structure, chapter by chapter. (FIRE* - Financial Independent, Retire Early) Please visit the homepage of to find other interesting books from Ikkyo Publishing. All the books from Ikkyo Publishing are equally suitable for practitioners who do not have higher formal education, as for those who have higher education but want an up-to-date, easy-to-read, research-based refresher.