Financial Independence (FI) means not needing to work for money. The core concept is to increase your savings rate and buy assets that provide a stream of passive income.
@Shortbull Crabs in a bucket mentality. People like this are best attrited to the fringes of your social circle moving forward.
I started my business in my early 30s, people were generally more supportive but there were a few like you described. There's just no fixing that kind of relationship. On the flip side, becoming a business owner was a massive SMV boost even when I was still new and broke as fuck. Not only direct IOIs but Moms trying to push their daughters on me. Mine was a B&M business, results may vary with less conspicuous online businesses.
Use Monero to escape global financial establishment enslavement and surveillance if you are not rich enough to establish a transnational anonymous shell corporation in Panama or Belize. It can be your very own digital offshore account. Even Swiss banks got cucked. Volatility can be high but it's better than your money being confiscated. web.getmonero.org/
@Shortbull I have no idea about your friends or what they're like etc, but my adivce: Water off a duck's back. If they're seriously negative about your growth, Fuck em. If it's just normie's getting their cage rattled by you trying new shit however—look them in the eye and tell them "I'm going to do this till I make it work"... or some shit like "Don't worry you can still mooch off me once I make it"
Does anyone get 'shamed' for trying to be successful? I am currently a business owner with two of my close friends and it seems a lot of people I know are sour about it. I don't parade it, hell its not even made any money yet after nearly two years, but I am not sure whether it is because I am 20 or whether people just hate on success regardless of age. Like people who were previously skinny and start lifting get comments about getting jacked
@CasualPlayer To put this into perspective, say you max out a Roth IRA from 18-20, that's $12,000 out of pocket. Compounded at 23% until you're 59 years old that all adds up to over $48M. And because we're talking about the Roth that's entirely tax free.
If you kept the Roth going (still using the magic formula) never making another contribution, but created another taxable account adding say $5000 a year from age 20-25, when you hit 45 you'd have over $2.7M, at 49 you'd be sitting on over $7M, and if you never touched it then by 59 that account would add up to another $60M. Granted taxes would eat up a good chunk of that over the years, but that's besides the point.
Here's the calculator I used: www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculatorRead More
@CasualPlayer To be fair with the market looking at a pullback and the time sink valuing companies can be, I'm on the verge of converting over to the magic formula investing strategy sine it's easier to maintain long-term.
If you've seen my videos or the livestream then you know I'm a HUGE fan of the keep it simple stupid principle. The less complicated something is, the easier it is to maintain over the long-term, and less likely things are to break down. And Rule 1 is to not lose money, so obviously the simpler the strategy the safe you should be.
Lastly, the Greenblatt methodology has done far better long-term than what my value investing strategy was built for anyway. I'm valuing companies looking for 50% moats with 15-20% annual returns. His system does 20-30% over the past 25 years. IIRC the nominal retail investor would have gotten a 23% annual return using his system without fiddling with a thing. That beats my 15-20% and rookie mistakes I made in the past couple of years.Read More
@RedPillFinance thanks for your reply, figured out i should do more learning on my own and ended up on yahoo finances, sec.gov edgar and morning star. i ve condensed phil town sticker price formulas but im still a little lost with all that fucking math, but oh well if thats what it takes to make an educated guess in the market so be it. i have a little watchlist on yahoo finances, looking foward to watching your video, and thanks for your time again, i really appreciate it.