When listening to an “expert”, you must discern if they’re telling you a fact or an opinion. It’s fine to make an investing decision on either, but do not confuse a fact with an opinion. An article on cnbc.com, from 10/1/19, titled Real Estate is Still The Best Investment You Can Make Today…”includes comments from Barbara Corcoran of the Corcoraan Group and Shark Tank; Bethenny Frankel of Skinnygirl; Grant Cordone; Peter Hernandez, Holly Parker, and Dottie Herman of Douglas Elliman; Daniel Lesniak; and Robert Hernandez. We dissect the facts and opinions while comparing r/e investing to stock market investing.
We discuss a real-life example of one’s stock market results and how that was due to their mindset; We contrast their “thinking” to that of someone who can get distracted by outside interests.
How you handle debt impacts your FICO score; more importantly, it affects your “reputation” score with those who might later invest with you or in you.
Perhaps FIRE should stand for Focus on Investments and Reduce Expenses, allows you to retire early. We talk about the mindset that is required, along with some simple steps that are needed to reach freedom.
We talk about the unexpected challenges that you’ll face in early retirement. They’re easily addressable if you’ll simply think about them BEFORE you walk away from your j.o.b.
We talk about what it takes to develop the work ethic required to achieve any objective.
Should you focus on the stock market or the economy? We talk about an easy way to differentiate the two, and we do it using words that everybody understands!
There are 9 basic steps to achieving FIRE…we touch on each of them.
There’s been lots of recent talk about buying into an IPO; we talk about the impact that buying into an IPO will have on your goal of reaching time freedom.
David Goggins and Jocko Willink talk about “don’t ask questions, just do it” …we talk about the difference between being interested in something vs being committed to it; and how do you go from one to the other.