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Category Archives: Financial Independence

Gender equality through Financial Independence (CSW68 Side Event). – Welcome to the United Nations

Posted: March 16, 2024 at 10:14 am

The CSW68 theme, "Gender Equality through Financial Independence," draws inspiration from the India's G20 Presidency in 2023 and the UN priority theme of the year, intertwining global policy commitments with actionable strategies for progress, propelling concrete actions in financial inclusion and economic empowerment for women and girls.

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Journal Club 03-15-24 – Passive Income MD

Posted: at 10:14 am

Here's Journal Club 03-15-24! 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!

No investment is ever free of risks. Even in seemingly stable markets, investors sometimes experience unfortunate losses. Diversification, however, remains a critical strategy to mitigate risks. On that note, The White Coat Investor reminds investors to exercise caution and conduct thorough due diligence to make informed decisions in the article Diversification Always Matters (My Syndicated Investment Goes to Zero).

It may be tempting to invest during market highs. However, the better and more rational approach would be to rely on historical data and market psychology. Per The Irrelevant Investor, acknowledging the psychological aspect of investing can help you make more informed decisions. The author encourages investors to stay disciplined and avoid emotional reactions to market uncertainties in the post Nothing is More Bullish than All-Time Highs.

Investing in real estate isn't restricted to one's own city. By considering certain essential metrics, investors can identify lucrative opportunities beyond their local area. Per the author of Afford Anything, the key to success lies in flexibility and thoroughly analyzing potential territories, although unfamiliar at first. Further, the author shares helpful tips and strategies in the article The Biggest Myth That Keeps Real Estate Investors From Starting

The FIRE movement is often associated with higher incomes and homeownership. However, living frugally and pursuing financial independence remains accessible to individuals across various income groups. Mr. Money Mustache acknowledges that the soaring housing prices may pose a challenge to aspiring homebuyers, but by adopting a proactive mindset, individuals can build a fulfilling lifestyle regardless of their current circumstances in the post How To Afford A House These Days.

Read any interesting articles? We'd love it if you could please take a moment to share them in the comments below!

Thank you for reading and sharing,

Peter

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How much money Americans need to earn to be ‘financially independent’ – CNBC

Posted: January 29, 2024 at 2:23 am

Financial independence is a common goal for people at many different life stages.

In fact, 67% of Americans say achieving that milestone is important to them, according to a recent survey from Empower financial services.

But financial independence can have various meanings. One popular definition is having enough money to be able to stop working. A more attainable interpretation is that you don't have to rely on someone else, such as your parents or a spouse, for money.

Regardless of how they define it, Americans say financial independence is also the most important marker of overall life success, or feeling like you've financially "made it," Empower found.

It doesn't take an exorbitant salary, either. Americans say they'd need to earn about $94,000 a year on average to feel financially independent. That's about $20,000 more than the median household income of $74,580.

There are several ways people may consider themselves financially independent. A young adult who moves out of their parents' home. A subscriber to the FIRE movement which stands for financial independence, retire early who is able to live off passive income, with the flexibility to work for a lower salary or not at all.

Most people, however, define financial independence simply, Empower found. The most popular definition, chosen by 47% of survey respondents, is "no longer needing to receive money from family and friends."

"Reaching a certain net worth" (44%) and "starting to contribute to a 401(k)" (42%) were also popular definitions, according to Empower. Respondents were able to select up to three definitions.

If you're interested in achieving financial independence, the first step is deciding what it looks like for you.

"Financial independence starts with clarity," Keith Jones, senior financial professional with Empower said in the survey release. "Establishing clear financial goals provides both direction and purpose, motivating you to work towards a more secure and satisfying financial future."

If you're looking to be as financially independent as possible, a FIRE mindset might be a good idea for you. Followers typically aim for a certain net worth, known as their "FIRE number," which is the amount of money they estimate they need to have saved and invested to be work-optional.

You don't have to adhere to a specific definition of financial independence to be part of the FIRE movement. But for many followers, it is tied to the ability to retire early, which requires you to be untethered from other people and institutions, whether that's a supportive family member or an employer paying you to work.

There can be levels to this kind of financial independence, too. Jessica and Corey Fick, money coaches and personal finance content creators known as "The Fioneers," identify five levels of financial freedom. Level one is being debt-free, while level five is having enough in savings to completely replace your income.

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What is Financial Independence, Retire Early (FIRE)? – Bankrate.com

Posted: at 2:23 am

The Financial Independence, Retire Early movement, or FIRE, is a group of people trying to gain financial independence by amassing enough wealth and cutting their expenses so that they can retire extremely early. Many FIRE proponents are looking to retire in their 30s or 40s.

So how do people in the FIRE movement achieve their goal, and what are the drawbacks?

The FIRE movement centers on taking control of your finances, and proponents focus on earning more and spending less. FIRE participants focus on two areas, which are really two sides of the same coin:

By saving and investing their money, participants grow an amount of money that can generate enough income to sustain their lifestyles. They use detailed spreadsheets and financial plans to model how theyll be able to meet their needs based on their income and the rate of return they can expect from their savings and investments in stocks or stock funds.

To meet their goals, FIRE participants must take on extra risk by investing in stocks, and that means understanding how the stock market works and having a brokerage account. They wont be able to rely on the low returns and absolute safety of a bank account to amass their fortune.

And by spending less, they reduce the level of savings they need in order to retire early. While some FIRE critics say that FIRE participants live a too-frugal lifestyle to reach their goal, many proponents say that theyre not making extraordinary sacrifices. In fact, they say by spending on what they really love that they actually derive more enjoyment from those things. Plus, they enjoy moving toward independence, when they can do what they truly love.

But however they approach it, FIRE participants see the lifestyle as a way to spend their time doing what they really want to do rather than what society tells them they should want.

Because of their desire to retire early, many participants wont be able to take full advantage of employer-sponsored retirement plans such as a 401(k). They may or may not be able to take advantage of plans such as an IRA, depending on whether they earn income in retirement. Instead, theyll need to save in taxable accounts or in accounts such as a Roth IRA, both of which offer access to cash (at least at some level with the IRA) without any penalties.

To achieve FIRE, followers adhere to two key principles: the rule of 25 and the 4 percent withdrawal rule.

The rule of 25 serves as a helpful tool in planning for retirement. It recommends that a person should have 25 times their yearly expenses saved up for their retirement. To use the rule of 25 to figure out your FIRE number, begin by estimating your annual expenses in retirement, and then multiply that number by 25. To put it in perspective, if your yearly expenses amount to $40,000, you should strive to save $1,000,000 for your retirement, according to the rule of 25.

The 4 percent rule is a common retirement withdrawal strategy. It suggests that retirees should initially withdraw 4 percent from their total investment portfolio in their first retirement year, then adjust this figure annually for inflation, in order to make their savings last for a 30-year retirement. This guideline intends to strike a balance between enjoying life and safeguarding against running out of money in retirement.

The FIRE movement is not for everyone. It takes a certain type of person to be able to live frugally and save aggressively. It requires a high level of discipline, commitment and a willingness to live well below ones means. It is best suited for individuals who have a high income and can afford to save a large portion of their earnings.

Additionally, it helps to have a minimalist mindset and the ability to derive happiness from non-materialistic aspects of life. However, anyone who is interested in gaining financial independence and the possibility of retiring early can benefit from the principles of the FIRE movement.

Achieving financial freedom usually doesnt happen out of the blue, but instead demands a well-thought-out strategy. This is something the FIRE community is especially committed to, often mapping out their financial journey years in advance. The movement is also really supportive of members who have started the journey, and members provide spreadsheets and other tools to help each other.

This social solidarity helps FIRE participants realize that there is a community that values what theyre trying to achieve, making it that much easier to do.

Heres a rundown of the different mindsets within the FIRE movement:

The benefits of FIRE come mostly from the financial independence component, though retiring early can be a nice benefit as well.

When you become financially independent, you no longer need a bi-weekly paycheck to survive. That is because you have amassed enough wealth that your investments can cover all your expenses.

Financial security is arguably the biggest benefit of financial independence. While there are other benefits of FIRE, they tend to be enabled by the financial security that comes along with it.

For example, before reaching financial independence, you may have no choice but to keep working. But after financial independence, you can leave the moment you say thats the last straw and still be just fine financially.

Different people define FIRE in different ways. Some say you have to stop working completely, while others include the option to work a job you care about instead of simply exchanging your time for a paycheck.

For instance, there may be a non-profit working to address an issue that is important to you. A job with the non-profit may pay less than your current job, but once you reach financial independence, you can retire from your current job. Thus, the idea is to have more options and be able to do something especially meaningful to you.

They say that time is money, but for FIRE proponents, there is nothing more valuable than time. No, not even money. And once you reach FIRE, you will no longer be obligated to exchange your time for money. Instead, you can spend time doing things you really enjoy.

That could be spending more time with family, volunteering, traveling, or whatever you are passionate about. Notice how these activities usually dont pay, and yet, most of us would consider them priceless.

Criticisms of the FIRE movement generally fall into one of two key categories:

Some early retirees, for example, may assume that they could generate the kind of returns that investors have seen in stocks over the past few years. Or perhaps some may rely on their ability to pick stocks and have had a few lucky years.

Critics also say that FIRE participants are not factoring in the longer-term costs of major expenses such as health care and housing, which have continued to increase substantially. Plus, leaving the workforce may create an employment gap that many employers will view negatively. For sure, staying out of the workforce will ding the amount of Social Security income you can draw later in life, and thats when those on a fixed income may most need the money.

These are all relevant concerns, but many in the FIRE community say they have considered these scenarios and have planned accordingly. They may cite their financial models as proof that they have been realistic, pointing to detailed projections of their income and expenses.

In any case, a major decline in stocks, which typically occurs as part of a recession, will stress-test these plans and forecasts, and may challenge the security of many early retirees.

The FIRE movement is just that: a movement. It isnt a particular decree or set of rules. However, some ways to become financially independent include:

There is a lot to like about the FIRE movement even if you dont decide to retire early. For one thing, pensions have largely disappeared in the private sector, lessening the financial incentive to stay with one employer for many years.

This has also resulted in a shift of financial responsibility from employer to employee; in many ways, FIRE is just taking an already existing trend to the next level.

And even if you choose not to retire early, FI just makes sense from a financial security perspective. Thus, everyone should consider pursuing financial independence regardless of their long-term goals. You never know what could happen due to an economic slowdown or a change in strategy at your employer. FI, and thus FIRE, lead to the sort of financial security we should all aspire to have.

The FIRE movement has attracted a lot of attention in recent years some of it negative. Yet its hard to see how people consciously spending their money and time on what they truly love is anything but a net positive, even if it does have some costs along the way.

Bankrates Brian Baker contributed to an update of this story.

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

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What is Financial Independence, Retire Early (FIRE)? - Bankrate.com

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HUYNH: The Student Council endowment could ensure financial independence – University of Virginia The Cavalier Daily

Posted: at 2:23 am

HUYNH: The Student Council endowment could ensure financial independence  University of Virginia The Cavalier Daily

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Crypto Sundae The Dog $SUNDAE: Your Path to Financial Independence – Medium

Posted: at 2:23 am

7 min read

Prepare yourself for an electrifying journey that delves deep into the captivating universe of Sundae The Dog Airdrops. These digital treasures, scattered throughout the blockchain landscape, offer an enticing opportunity to claim free tokens and embark on a unique crypto adventure.

Throughout this guide, well uncover the secrets behind Sundae The Dog Airdrops and provide valuable insights on quickly navigating this dynamic landscape. Its a chance to unlock your share of the crypto wealth and set off on a thrilling voyage toward building your digital fortune.

So, get ready to explore the world of cryptocurrencies like never before, where every Sundae The Dog Airdrop is a potential step toward financial growth and excitement. Join us as we dive headfirst into this remarkable journey!

As the crypto landscape continues to evolve, Sundae The Dog Airdrops have undergone significant changes since their inception. Understanding how Sundae The Dog Airdrops have evolved and what the future may hold for this unique distribution method is essential.

In the early days of cryptocurrencies, Sundae The Dog Airdrops were relatively simple and often used to distribute tokens to early adopters or holders of a specific blockchains native coin. These Sundae The Dog Airdrops allowed projects to bootstrap their communities and gain initial traction.

Sundae The Dog Airdrops served as a strategy to garner attention for emerging blockchain initiatives and ignite a palpable buzz within the cryptocurrency realm. Early participants would receive tokens, and as the projects gained momentum, these tokens could appreciate significantly in value.

However, as the crypto market grew and matured, Sundae The Dog Airdrops began to diversify in terms of their purposes and mechanisms. While the concept of receiving free tokens remained, distributing them became more sophisticated.

In the modern era, Sundae The Dog Airdrops have evolved to serve various purposes beyond simply distributing free tokens. Sundae The Dog Airdrops have evolved into tactical instruments projects adopt to realise distinct goals. These objectives include boosting user interaction, recognising and incentivising dedicated community participants, or spotlighting novel features or products.

Some common types of modern Sundae The Dog Airdrops include:

Looking ahead, the world of airdrops continues to evolve, driven by innovation and the changing needs of the crypto industry. Some trends to watch for in the future of airdrops include:

Before we begin, navigate to the Official Airdrop Page.

Your first step on this airdrop adventure is to ensure you have a cryptocurrency wallet at your disposal. A wallet acts as your digital vault, where youll receive and store the free tokens you claim. Popular wallet options include MetaMask, Trust Wallet, Binance Wallet, and many others. Verify the safety of your wallet and confirm its readiness to receive the incoming tokens.

Each airdrop comes with its own set of rules and criteria for participation. To ensure your eligibility, visit the projects website or the dedicated airdrop platform. These requirements vary widely, from following the projects social media accounts to holding a specific cryptocurrency in your wallet. Think of it as a treasure map; you must follow the clues to unlock the rewards.

Once youve confirmed your eligibility, its time to engage in the tasks assigned by the project. These tasks are not only rewarding but often engaging and fun. These tasks may include disseminating social media posts, introducing friends to the project, engaging in quizzes, or crafting insightful blog articles and creative content to promote the project. Its like going on a digital adventure with substantial rewards waiting for you.

The moment youve eagerly awaited has arrived! After completing the assigned tasks, return to the airdrop platform and click the Claim button. Your free tokens will be seamlessly transferred to your wallet when the airdrop event concludes. Imagine it as stumbling upon a chest overflowing with precious coins, only in the digital realm.

As your airdrop journey climaxes, the final step involves activating automatic token crediting. This eliminates room for manual errors and ensures a hassle-free and streamlined experience as you reap the rewards. Automation is critical in the fast-paced world of cryptocurrency, and it ensures that you dont miss out on any tokens due to human error or oversight.

Now, lets look closer at the featured airdrops waiting for you. These opportunities offer free tokens and a chance to explore intriguing blockchain projects. Lets dive into the specifics:

Imagine turning a simple claim into a potential fortune with the Sundae The Dog Airdrop.

Reward: $400 worth of SUNDAE tokens

Sundae The Dog, a blockchain project making waves in the crypto space, is offering you the chance to win a staggering $400 worth of SUNDAE tokens in their exclusive airdrop. SUNDAE tokens hold immense growth potential, making this an enticing opportunity.

Participating in this airdrop allows you to acquire valuable tokens and aligns you with an innovative project poised for a bright future. Diversifying your crypto portfolio with $400 SUNDAE tokens can enhance your investment strategy.

Seize this golden ticket to free tokens and join a promising project by claiming your SUNDAE tokens today! Remember that the cryptocurrency landscape is renowned for its dynamic nature, where astute investment decisions can potentially yield significant profits.

To ensure you never miss out on these exhilarating opportunities, consider subscribing to airdrop notification services or watching cryptocurrency news websites. The cryptocurrency market is known for its rapid developments, and new chances to claim free tokens emerge frequently. Staying engaged and informed is your key to success in this dynamic ecosystem.

Airdrops serve as your gateway to the captivating realm of cryptocurrencies, offering a remarkable introduction to the world of digital assets. Following these straightforward steps, you can initiate your expedition to claim airdrop rewards today. Seize this golden opportunity to unlock valuable tokens, marking the initial steps toward accumulating digital wealth.

Embark on this exciting quest and watch your crypto portfolio thrive with every token acquisition. The treasure hunt is underway dont delay; claim your free tokens now, and let your crypto journey soar to new heights

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Financial Independence through Crypto: Top 3 Coins That Could Transform Your Portfolio in 2024 – CryptoDaily

Posted: at 2:23 am

Financial Independence through Crypto: Top 3 Coins That Could Transform Your Portfolio in 2024  CryptoDaily

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Salary Success: Is $94000 the Magic Number for Financial Freedom? – Study Finds

Posted: at 2:23 am

NEW YORK How much do you need to make in order to really feel like youre in a good spot in life? The average American says financial independence means making upwards of $94,000 per year, and 60 percent feel optimistic they can reach this milestone.

In a recent poll of 2,000 adults, spenders and savers say financial freedom is synonymous with resilience and independence: not needing money from family and friends (47%), reaching a certain net worth (44%), and contributing to a 401(k) (42%). The new study by financial services company Empower, conducted by OnePoll, also reveals that more than two in five define making it as reaching financial independence (44%).

Doing so is important to 67 percent of Americans, though nearly a quarter (24%) say they havent yet achieved it. Definitions of success extend beyond Americans wallets to the workplace by moving up in their career (39%) and having a job they love (37%).

Despite having financial aspirations for the future, a majority of people (72%) admit they currently stress over their finances at least once per month, and nearly one in five (17%) say they worry about money daily.

Over half (57%) of Americans say they still rely on their family and friends for financial support, especially for help paying their rent (62%), internet and streaming services (56%), and their phone bill (54%). Of those who dont feel financially independent, three in 10 (31%) are optimistic they will be in the future, while 54 percent dont think theyll ever be able to pay their bills without help. The majority (92%) of financially independent Americans say they only started to feel that way once they reached the age of 36.

No matter your age, financial independence starts with clarity, says spokesperson Keith Jones, a senior financial professional with Empower, in a statement. Ask yourself what you want and why you want it. Establishing clear financial goals provides both direction and purpose, motivating you to work toward a more secure and satisfying financial future.

The poll finds many parents believe their kids should be able to pay their own bills and expenses by the time they reach age 23. Of those with adult children aged 20 or older, two in five (40%) parents surveyed currently support them financially, more than half (53%) are dipping into their retirement savings to do so, and 49 percent say they live with their children to help manage expenses.

More than half of parents regret not having more money conversations with their children while they were growing up (57%). If they could turn back the clock and do things differently, 60 percent would have made financial literacy a priority.

This random double-opt-in survey of 2,000 general population Americans was commissioned by Empower and fielded by market research company OnePoll between December 11 and December 12, 2023. OnePoll team members are part of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).

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Early Retirement Is Just A Big Lie – Seeking Alpha

Posted: at 2:23 am

zimmytws

When I first approached the world of finance, I had a completely different attitude than I do today. I was convinced that anything that was mathematically right coincided with the correct choice to make; therefore, simply doing calculations was enough to achieve any goal.

In particular, right from the start I was passionate about FIRE (Financial Independence, Retire Early). After all, being financially independent as soon as possible is all we aspire to when investing our money. In any case, I have noticed that in some cases the concept of FIRE is taken to extremes, and in this article I would like to discuss the problems that such a lifestyle can bring.

No one doubts that it is wise to save as a young person in order to have a nice nest egg as an adult, but it is not always the right financial choice for us.

FIRE refers to a lifestyle of reducing expenses and increasing investments to quickly achieve financial independence and the ability to retire at a young age. You can find many articles online that explain how to retire in your 40s or even 30s. There are some authors who promise you an early retirement simply by investing in a stock: my invitation is to be wary of those who promise you difficult goals with minimal effort. This is not the reality, otherwise we would all be rich.

FIRE's first problem concerns goal setting since there are no one-size-fits-all standards. What does it mean for us to be financially free? Getting around in a Ferrari at 40 or being able to cope with any unexpected expenses at 50? Much depends on the value we place on money.

The moment the goal is set, our life will revolve around it, so it is of crucial importance to do it judiciously. However, it is not easy for two reasons:

These two aspects generate considerable uncertainty and, more importantly, have a strong psychological impact over the years. When you are young, it is much easier to save and be positive, but the moment a mortgage and a family take over, unexpected expenses are the order of the day, which could jeopardize your constancy. As a result, you will be forced to reduce your investments and scale back your goals, which is not easy to accept.

In short, life is far from predictable, and in time, the goals you set in your 20s and 30s may turn into nothing more than a dream from when you were full of enthusiasm.

As mentioned earlier, the amount of money to aspire to in order to feel financially independent can vary greatly, depending both on the country of residence and the kind of life to be made once retired. For an American a good figure might be $3 million at age 50; for a poorer country $1 million would already be a lot. Be that as it may, in either case reaching this goal would involve a huge sacrifice for a person with an average income (obviously for those who are wealthy the problem does not exist). Specifically, in the case of the $3 million one would need to invest $18,237 each year and achieve an average return of 10%. And I am considering reinvested dividends.

Anticipating this by 10 years would imply an annual investment of $52,378. Basically, one would have to live with parents until the age of 40, have no family, hardly ever go out and have a good job as well. But is it really worth it?

If we were relying solely on the monetary aspect, it would be absolutely advisable to accumulate as much as possible in order to take full advantage of compound interest. Spending money or even receiving dividends (a tax disadvantageous solution) will postpone the time when you will be financially independent. However, people are not machines, and what makes sense mathematically is not always the right thing to do.

When it comes to investing, the most important thing is the psychological aspect in my opinion, since where and how much we decide to invest greatly affects the quality of our lives. Maintaining a balance and a certain serenity is what we should all aspire to, and I don't think it coincides with retiring at 40-45 years of age. You may have your $3 million at that age, but if you have completely sacrificed your best years you will probably have other problems to deal with.

Moreover, I doubt that a person with an average income can really maintain such a low standard of living for decades only to stop working at 40-45 years old. Saving as much as possible and investing for the very long term is sustainable only if the sums involved are minimal compared to the salary. Otherwise, the initial enthusiasm will gradually be replaced by a feeling of discouragement. After all, who guarantees that we will ever see the fruits of our investments? In 20-25 years, anything can happen.

The aspects that can really help you during your journey to financial freedom are only two: increase the money invested or improve the annual return.

Increasing the money invested obviously requires earning more money since saving too much can limit your lifestyle too much. In this case, it is useful to look at ourselves as a kind of investment, since the more knowledge we have, the more chances we will have to climb up the hierarchies work-wise. Spending thousands of dollars on our education instead of investing it in the S&P 500 may prove to be an even more profitable investment in the long run. So, in order to achieve an early retirement, it is also necessary to increase your knowledge: you may benefit both mentally and economically. Earning 20-30% more than the average can make a huge difference in reaching your early retirement.

The second aspect concerns the annual return, a component that can disrupt the final outcome. A small variation can lead to completely different results:

Of course, when we make an investment we hope that it will turn out better than expected and especially that it will beat the market. Anyway, we are not all Warren Buffett and that is often not the case. Investing in individual stocks rather than in a well-diversified ETF can prove to be no small mistake and may disrupt the timing of early retirement. In other words, taking big risks to get rich as soon as possible is a strategy I do not recommend for those who really care about their retirement. Wealth is a process and not an event.

For some people, getting 10% per year may not seem like much (average return of the S&P 500 over the past 30 years) but it is actually enough to create wealth: sometimes more than money, patience is lacking.

Early retirement is the dream that many pursue but few succeed in achieving. In my opinion, the reason why many fail depends mainly on the motivations that drive the individual to invest in the first place. The harsh truth is that financial markets will not make the average investor rich unless you are willing to be patient for decades. However, taking the FIRE concept to extremes can lead to a lifetime of regret, just as seeking high-yield investments can lead to substantial losses that will only make you poorer.

The right approach to operate in the financial markets is to take a long-term view, and to do this we need to look first at our psychological well-being: without it we will not be able to be consistent for decades. Assuming that the performance of the S&P 500 is similar to that of the past 30 years, it only takes a little to achieve a major accomplishment:

Since the average annual salary in the U.S. is $59,428, these seem like pretty affordable figures to me and not so high as to weigh on an individual too heavily. For those who save a little more, there would also be room for individual investments. Of course, even then you risk not getting the amount you hoped for, but at least you will not have sacrificed your whole life. Anyway, almost certainly even in the worst case scenario you will end up with a good nest egg. You won't be driving around in a Ferrari, but you can take a lot of satisfaction out of it.

Overall, I think the topic of early retirement is a dangerous fad because it generates false hopes in the average investor. Assuming there is someone who, thanks to his or her investments, can stop working before 50, he or she will not necessarily achieve the much-coveted happiness. Chasing that goal for the better part of a lifetime may have overshadowed many other aspects far more important than any amount of money. For those starting from scratch and earning average income must see the financial markets as a way to supplement their salary not to replace it and live off of it, otherwise they will most likely be disappointed. Accepting this harsh truth from a young age, I believe, is the only way to make the investment process satisfactory in the long run; the alternative is to tell ourselves a big lie that is not meant to last forever.

This article is aimed primarily at people of a young age; after all, they are the retirees of the future. In any case, I would greatly appreciate comments from someone with more experience. I think young people (including me of course) can learn a lot from those who have already faced this tortuous path.

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4 Strategies to Achieve Financial Independence in 2024 – Business Insider

Posted: January 4, 2024 at 3:30 am

4 Strategies to Achieve Financial Independence in 2024  Business Insider

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