I completely agree with the statement, “I want to work over I have to work” essentially the reason I have taken on the task myself, options and choices really change the ball game of employment. Great video thank you.
Yes definitely still possible for those who are fortunate enough to have some disposable income to put into savings and investments. I’ve had to readjust my expectations a bit. I’ll believe I’ll still get there, just open it to taking a little longer as you stated ☺️
Super grounded, Dee. Without disappearing up my Philosopher’s self-referencing point, perhaps the only certainty is uncertainty these days. In a sense we need to be a little less passive as we aim towards passive (income) WRT crypto, swaps, shorting, spreads: good luck. WRT ETFs, Indexes and dividend stocks: It still remains the case that there are sound investments to be made, particularly over a reasonable time period. PS The idea of ‘retiring’ and the wearing of the beige fills me with dread and determination! Nice to see you back Dee.
You are a very wise young lady, balancing enjoying life now with firm plans and actions for a secure, more independent future. I wish you all the best as you continue your journey❤
I am 45 and it is impossible to stop working now; I have a pension but I can’t access it and cost of living here in Uk are so high especially with children; I invested and now I have an inherited property that I need to turn into income generating asset; , have my career and business that consumed so much of my savings but yet to generate a proper income ; the only way for us is to move out at some point and live in a different country ( cheaper) if we want to stop working earlier ; and for me it is retire to sth not from sth and I want to keep working doing what I love ; thanks for the video 😊
Couldn’t agree more that retiring to something and not from something is a really important concept, particularly if you’re doing it at a younger age than traditional retirement.
Although I don't have kids and a high income earner, I was in debt with a huge mortgage, two cars, once of which was a benz living in a 2800 sq ft home alone with 4 bathrooms and in debt up to my eye balls. Than I got the boss from hell and that was the catalyst for me making some drastic financial changes. The stress almost put me in the hospital. I worked two part time jobs to pay off my cars and the credit card debt. The most drastic thing I did was sell my mcmansion in an up market. I made enough money to pay cash for a smaller home in a lower cost of living area.......that's was the game changer for me. I went from being materialistic to being frugal and valuing experiences more. I was still working making the same amount of money but totally debt free including mortgage. I had so much money it was crazy. I literally had thousands of dollars left over every month. I was investing and saving so much money that I overdrew my checking account twice. I was able to sell that home in another up market for a huge profit and buy another primary home and pay off the rental property Now I am barista FIRE no longer working full time. Basically working when I want and it's the best feeling in the world. I"m a huge fan of short term pain for long term gain.
Yes financial independence is still possible. I just barista FIRE in my 50's with 500K. I own two homes, a rental property that is paid off and my primary home which still has a mortgage. The rental property pays 85% of the mortgage on my primary home. Im single and child free with no debt and monthly expenses are only about 1300.00 a month. In addition to rental property, I do doordash part time and I have two fully automated walmart affiliate marketing sites ( which I built using wordpress) that is growing slowly. So between doordash, rental property and my affiliate income, there's no need for me to work full time. I only pull from my investments when I need to like when I want to travel or if I have an emergency. My part time side hustles seems to be paying all the bills and giving me a little extra spending money. I only wish I had known about FIRE when I was younger....but learning about it late it life gave me a huge head start. I was already a saver so when I did learn about it, I was already 3/4 of the way to barista FI. Had I not found out about FIRE, I probably would of worked at least until 65. FIRE gave me back so many years of my life.
Thanks for sharing Dee, this is really helpful as I set my financial goals. I love your balanced approach. Are there any specific resources you would recommend for a beginner investor? Really keen to hear your suggestions. Also, you are GLOWING 💖
Ahh how sweet of you thank you 😊 books and RU-vid were honestly the two main resources I used. There isn’t a course or anything, just lots of reading and listening to form my own strategy and understand my risk tolerance. I’ve got a video on the books that helped me if interested linked here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-CS4lDhbpxek.html
