Brian Smith retweetledi
Brian Smith
6K posts
Brian Smith
@goingfire
You can buy a lot of things with money some buy things, others buy security, and freedom
Katılım Kasım 2015
360 Takip Edilen242 Takipçiler
@egr_investor Great guide
Would add the 4% rule has been updated to 4.7% safe withdrawal
And you can easily get 401k money out with a 72t penalty free
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Anecdotally, I’ve reached FI but have no plans to RE. I love engineering and am addicted to the grind.
FI provides optionality, even if you never exercise the RE part.
My guide to achieving financial independence (no sales or paid promotions): summitward.com/learn/financia…
#Investing #PersonalFinance
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This is false attribution. FIRE does not require “checking out of society” or living without purpose, it simply gives people more freedom over how they spend their time. A crisis of meaning can happen with or without financial independence.
Boring_Business@BoringBiz_
The FIRE (financial independence retire early) movement has done an immense amount of harm to society This is coming from someone who used to be a believer in FIRE, but I have realized just how much of a fallacy it is, as I have grown older Taking a bunch of high potential income earners and convincing them that their life goal should be to pursue a net worth that allows them to check out of society is immensely damaging to the social fabric Many of these people sit on the upper echelon of office jobs, have built great businesses, or are at the top of their field in their career field They should be inspired to continue doing what they are best at, and ultimately, mentor and give back to the next generation who want to pursue those same goals Instead, many of these FIRE folks become wandering retirees with a meaningless life who are trying to grasp on to money as their north star It is a false sense of security and accomplishment. Becoming wealthy should never be a goal in the first place. It should have always been to pursue something that adds meaning to your own life and to society It is a completely fallacy to believe that retiring will be your source of happiness. More often than not, it has the complete opposite effect
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Researching for a monthlong vacation in Norway but can't figure out how they can afford to go out to eat. Answer: they rarely do.
Income is ~10% more than in the USA pre-tax but restaurants cost 2-3 as much.
Just gonna pack a sandwich everyday I guess!!
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@financialsamura Should I wait to buy sspc the space x etf short?
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What It's Like Waiting Out A 6-Month IPO Lockup As A Startup Employee financialsamurai.com/startup-employ…
Going public isn't a payday. It's the start of a six-month marshmallow test.
When a company or fund lists on the NYSE, employees often watch shares jump. Yet they can't sell a single share for six months due to the standard lockup.
For six months, the sirens sing. Upgrade the car. Book the trip. Mentally spend gains you haven't secured. Meanwhile, your net worth swings daily and you're powerless to act.
Here's what IPO lockup life is really like, and how to survive the temptation.
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The 4% Rule is dead.☠️
And its own creator killed it.
Bill Bengen has since acknowledged that the famous "4% Rule" was never intended to be a rule...
It was a study.
He has also said that, under updated assumptions, a withdrawal rate around 4.7% is the right target.
But I want to even challenge that approach.
Old Retirement:
📉 Sell assets every year.
😰 Worry about sequence of returns.
💸 Hope your portfolio lasts.
New Retirement:
💰 Build dividend income.
📈 Generate options income.
🛡️ Never sell your assets.
📊 Continue buying assets after retirement.
The future of retirement isn't about finding the perfect withdrawal rate.
It's about building an income engine. 🌴🍺
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@RobertMSterling When you light matches all day
Please don’t complain about the fire
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Vinod Khosla immigrated to America 50 years ago. He co-founded Sun Microsystems, one of the most impactful tech companies in history; as a VC, he backed robotics and manufacturing way before it was cool. He’s helped create millions of jobs and trillions in shareholder value.
Call him an American billionaire. I’m as right-wing as it gets when it comes to immigration, but he’s earned it.
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@dehenau_ If your parents let you live at home with kit working and helping out
They failed you and society
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I know several men who at age 40, have dropped out of the work force.
And.. at first, you would say “wow thats stupid”
But, think about it. Without a college degree, you just spend 20 years bouncing from 15$ an hour job to 18$ an hour jobs
You can’t pay bills with that 🤷♂️
Jay Parsons@jayparsons
Candidate for most illogical housing news angle of all time: Rent is high so men drop of the workforce. 🤦♂️
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@askjussi It what about the tax free capital gains and qualified dividend?
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If I retired today, I would build a focused REIT portfolio.
Roughly half in moderate yielding common shares with dividend growth.
Roughly half in higher yielding preferred shares with strong coverage.
The goal would be simple:
High income today, plus enough growth to beat inflation.
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@50miles_ahead You spend your whole life eating three meals per day and you get to your 40’s
And still have to eat three meals per day
Should like a trap
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The idea of “financial independence” seems so oxymoronic.
You spend your whole life building income streams, tracking your net worth, and pinching pennies…and call that independence?
Sounds like someone who’s completely dependent on money.
What would real independence actually look like?
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My friend works for a big company and has a steady, average salary.
He got offered to work for a startup – double the pay, but more risk and ~10 more hours of work each week.
He has two kids at home.
What would you do?
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The world will never take us serious until we dismantle the soccer ⚽️ pay to play scheme! In Orlando I see young kids at the park with crazy skills that’ll never get a chance since their parents can’t afford to put them in an academy or hire a trainer! 🤦🏾♂️
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Why are people keeping matchboxes in their bathrooms?
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@SteveOnSpeed First ten years of my career
Rio
Ireland
Miami
Cancun
Amsterdam
I made a lot of money, fast
Best decision of my life
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The first 10 years of my working career, I was a workaholic.
Never took vacations.
Always sold back my PTO.
Volunteered for extra work.
I made a lot of money, fast.
Best decision I ever made in my work life.
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@MediaKing Going from 5 to 5o mil
Could make life worse if it keeps you from spending time with friends and family
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Going from $0 to $5 million is life changing. Going from $5 million to $50 million is not.
After all of you have enough money to live comfortably for a long time, you run out of things to buy that create meaningful utility in your life.
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@NoLimitGains Just save 30% of your income from day one
And go enjoy your life
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Day 5: Frankfurt
The desire to quit working and finally retire is getting harder to ignore…
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Stop bringing wine to dinner parties.
Bring a nice bottle of extra-virgin olive oil.
Healthier. Lasts longer. Same price.
Thank me later.
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@MarketPalmer_ ? Some of that would have been rent
Numbers are not as bad as you make them seem
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We’re 5 years into our mortgage.
We’ve paid $118,000+ in total payments.
But only $38,000 has gone toward the actual house.
The other $80,000? Interest, taxes, and insurance.
Homeownership is expensive – way more expensive than most people realize when they buy.
You can safely multiply the sticker price by 2 to determine the true long-term cost of a house.
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@MiniRetireMatt @Assaf0013 Joel Greenblatt on why most traders get wiped out:
"choosing individual stocks without any idea of what you're looking for is like running through a dynamite factory with a burning match. you may live, but you're still an idiot."
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@Assaf0013 That's a heck of a story. The moral of the story: buy and hold.
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2009. Got $20k from his grandparents.
It was supposed to be a brand new Corolla.
Eliot bought 3,500 shares of Domino's ($DPZ).
Became the owner.
2020: sold scared and walked away with ~$1.2M.
Today he doesn’t drive a Corolla.
He lives off pizza.
Be the owner.📈
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@Assaf0013 I did that except I bought worldcom
So now I have no car and can only afford pizza !
Great story if your young don’t do this
Just by a index fund
This is gambling
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