Investing Basics for Firefighters: Stocks, Bonds, Index Funds, and Keeping Fees Low
Jon Beattie and Louis Barela continue their Firefighter Financial Academy series with an investing basics episode aimed at helping firefighters build financial independence by living below their means, staying out of debt, and investing early and often. They explain stocks as ownership and bonds as lending, discuss volatility and risk tolerance, and emphasize broad diversification through low-cost index funds like the S&P 500 and total market funds, including target date funds that automatically rebalance from stocks to bonds over time. They compare traditional versus Roth 457 contributions (tax later vs. tax now), highlight the power of compounding growth, and stress that pensions typically cover 75–80% but may lack cost-of-living adjustments, making supplemental saving critical. They also warn that fees and active management can significantly reduce long-term returns, and suggest transparency and fiduciary, CFP-level guidance when needed
What is Fiscal Firehouse?
Come join a groundbreaking new podcast that promises to change the way you think, the way you live, and the way you manage your future. Grab a cup of coffee, a 6mg Zyn, some noise-canceling headphones, and get lost in the world of the Fiscal Firehouse. With your co-host Jon Beattie and Louie Barela, the Fiscal Firehouse is your guide to financial freedom. Tailored to union firefighters, we will discuss problems, solutions, and benefits that are unique to our profession. Change your finances, change your life at the Fiscal Firehouse. Brought to you by Local 1309.