FIRE in Madrid 2019


Last weekend we had a FIRE (Financial Independence Retirement Early) meetup in Madrid. It is one of the FIWE (Financial Independence Week Europe) series of events, started by the bloggers WhatLifeCouldBe.

It was terrific.

We were a group of people, about 20, from everywhere in Europe. We all sharing the same interest about Financial Independence. Each one having his own difficulties, specific environment, but all of us willing to talk about topics that we cannot comment in the everyday life.


Many people gave different presentations.

I gave a presentation about Portfolios for Retail Investors. Very similar to the presentation given in the II Jornadas sobre Independencia Financiera in Valencia, in September 2019. Just to present some passive portfolios and why they could be useful.

Afterwards, our favorite viking gave a presentation about Myths and Realities of the 4% Rule. Good to highlight the importance of the Sequence of Return Risk.

He was followed by Mr 4% Save, also discussing the same rule. Mr 4% Rule opened everybody’s mind towards different withdrawal strategies when already on FIRE. In particular about the trade-off between withdrawal and the final leftover capital at the end of the period (for example, at the end of 30 years). This is, we could choose a fixed annual withdrawal rate (the usual 4% rule), but there will be a high uncertainty in the final capital. Or, we could be flexible regarding the annual withdrawals, having more uncertainty in the annual withdrawals, but better estimation of the final capital. This, together with other topics like annuities, and the different value of the money today with respect to the value of the money in the future.

Mr W. examined the taxes applied to European ETFs. I am afraid we missed this one, because it was very early in the morning. Ummm… bad… and I forgot to ask Mr. W for a summary 🙂

Mrs W. presented the FIRE and FIWE community. How the FIWE meetups started, previous events, etc.

Michael from PlayingWithFire gave a personal presentation about his way to FI, how he converted his hobbies in sources of income, his podcast (The Irish FIRE Podcast), his passion for hockey, and the unbelievable 42% Irish tax on dividends.

Gustavo (the author of the book Las Tres Rutinas) discussed Live FIRE before FIRE.

Our Ukrainian guest discussed How to be unbelievably miserable on your way to FIRE and post FIRE. What an incredible sense of humor, by the way.

And finally, a fantastic show full of music and humor, by the sensational Viking-Ukrainian duet. The song Mamma Mia by Abba will never be the same. It is a FIRE hymn. I think they should upload the audio to Youtube, sure success.

Other people attending were Inversor Millennial (always asking very good questions), Homo Investor (write again, we miss you), and Marco (listen to his Italian podcast Diario di Due Imprenditori Digitali). And many more people, thank you for coming, and I hope we meet again!


In conclusion: this event has been amazing. We could meet an incredible group of people. We got plenty of new ideas.

And for some, the weekend was too short, and they continued with the “extra” part for a few more days. They have been discovering Madrid and discussing about Financial Independence for longer, but we were not there.

By the way, stay tuned, perhaps future events will happen in Milan and/or Timisoara.

And finally, we commented that the French FI community is almost non-existent. Does anybody know why?

Autor: willyfog

Turista laboral por la Unión Europea. Por favor que dure. Lo que veo, leo o me cuentan no lo suelo encontrar en español, así que me gusta escribirlo por aquí.


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