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Investing From The Beach

Is time freedom (FIRE) your goal? The two hosts retired early (one at 30; one at 40) each walked from a 6-figure job. They discuss THE critical ingredient to achieve financial freedom, “how to think”. Chris Hanson & Chris Lam each reached freedom by investing & trading in the stock market. This is NOT Dave Ramsey mutual funds; it’s not Kiyosaki real estate; people say it’s akin to living the Tim Ferriss lifestyle. They’re not Ivy League grads; they’re self-taught, studying nights & weekends while working in sales for the largest tech firm. Today, they can trade/invest from anywhere they happen to be, even from the beach. They’ll share what they discovered about “how to think” as well as “how to do”. Most people focus on the mechanics, the tasks, the “how to do”. The reality is that “how to do” is maybe 5% of what’s required; the other 95% is “how to think”. Most people gloss over the 95%, then get frustrated when they can’t figure out why they’re not achieving freedom.
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May 14, 2017

Continuing episode 9 where we talk 401k; a fabulous method of forced savings that is available to nearly every employee and it is tax deferred.  Most people will switch employers every few years, usually to get a raise or promotion.  However, they overlook the other huge benefit; when they switch employers, they can now have 401(k) balance that was at their old employer moved to a self-directed IRA.  With some know-how, discipline, and following some rules, the opportunities are huuuge. It seems that people will put more effort on weight loss than on their financial future.   People will do unnatural things in the hopes of getting a 5% raise at work, which is a short-term win.  They haven't realized that the long-term impact of getting just a couple more percent annually on their 401k will dwarf any raise they could ever get from their employer.

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