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We've been programmed into thinking about saving for retirement like it is a ceremonial event throughout our working lives, and that if we dont do this we are doomed to live on the street, in a cardboard box, or die early. Im going to dispel some of these myths and explain some alternative thinking you might want to entertain in this episode.
When I speak with people that are working a 9-5 job, investing in their 401K, etc. they ask me why they are not getting ahead. It is hard to tell them this, but Ill tell you - it is because they are not taking any responsibility for their lives and deferred it to a third party. The unconstrained know the buck stops on their desks so lets have a chat about responsibility.
There is no progress without risk. Investment returns are tied to risk. You get up in the morning and live your life - thats a risk. There are risks everywhere. The key is knowing your tolerance for risk, how to manage and live with them, and seek out enormous returns with proper risk management.
The traditional thinking of Financial Independence is to amass a large amount of cash by savings, then invest it at interest rates that return more than a draw rate, and eventually you can retire. In this episode we are going to burst that bubble by focusing on the falacies of this approach and how Financial Sustainability offers a contrarian position that you might want to entertain.
This episode shines a light on the choice of going to college. Parents and students are trying to make the right decisions for this important choice. I am going to give you some ideas you may not be yet considering... The Red Pill approach.
History teaches us that the path to immense wealth involves punting on the future. Today Im going to focus on what I see as innevitable changes coming to the world in the next five or ten year horizon, how this impacts those pursing financial independence and early retirement and how that may underscore the importance of being unconstrained.
After a recent discussion with someone on Twitter, I tried to explain how simple it is to achieve financial sustainability. All I received back after offering this information were excuses... But I cant do that? or How can I get enough money to make a downpayment on a rental property?. It seemed that every answer to how to live unconstrained was rebutted with a perception on why that person couldnt do it. I was confused. I didnt understand how to every solution offered, the recipient countered with some reason why they couldnt do it. Then I realized why... They dont have the mindset for this yet.
I've seen with my own eyes how Australia sold itself out to China and may as well now be a province of Beijing. But this happens at the ground floor with individual decisions so lets expose some of the danger here and what you can do to avoid becoming constrained by yet another rising empire regardless of where you live on this planet.
Spoiler Alert: I dont know the answer to this question. But in my quest to understand it, and the art of using it to acquire what we need, Ive discovered many stories and hacks along the way. In this episode Im going to tell a few of them, including an overview of my adventures with Bitcoin.
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