Got Financial Anxiety? 5 Common Money Fears Keeping You from FIRE

[@KevinCollins09]

I retired at 54 and honestly, I wish I’d done it sooner. The 9-to-5 grind steals your freedom for a paycheck that barely scratches the surface. My advice? If you’re in your late 30s or early 40s, start saving for FIRE now - Financial Independence, Retire Early. And if you’re in your 50s, invest smartly and break free from relying on your job. Market trends, like the Trump Effect, have made millions for many, including me. Stay focused, stay consistent, and remember: financial freedom is within reach if you make it a priority.

[@ric-morris7763]

Exactly My point! The 9to5 grind is just not worth it the stress and low payoff. What specific steps did you take to break free?

[@don_hug]

I’m working on the goal you wish you had when you were my age right at this very exact moment in my life. I’m 36 years old. I’ll be 37 December 29. Just a few weeks away. I Just finally managed to reach $50,000 a month in dividend income from the stock market. I’m literally right around the corner from retirement. I can’t decide if I’m going to pull the plug at 40 or 45. Either age would put me in a very good financial position to retire not only comfortably but wealthy also. I would really like to get my dividend income up from $50,000 a month to $100,000 a month so that I can officially say that I make over $1 million a year in passive income which is way more income than any high level career that I would have to do absolutely nothing for. It would just make me feel a lot more comfortable with a million dollar annual income compared to where I’m at now just to make sure I never have to go back to work again for the rest of my life. A retirement can be a long period to financially sustain. I see so many old folks going back to work out of retirement because they retired without enough money.

[@jp7852]

Inflation is a huge fear. That and health insurance. Single mom 2 kids. Marketplace does not cover drs in network for the Children's Hospital. Accepted a part-time job just for health insurance although rather take years off when kids are young.

[@EenvesTmawni]

I can’t believe this is the end of year already and I have investment goals I haven’t achieved yet. I hear people talk about a bull run in the financial market and I just recently sold a home. Do you suggest I utilize a financial advisor on stocks to buy, or can I do it on my own?

[@Billivdis]

its just like asking if you should self-medicate, of course it’s always better to consult a doctor, so yes it’s a good idea to seek financial advise if you think you need guidance

[@PeterLapin24]

Do the Bogleheads approach. Broad index investing. Advisors can’t beat the total market. Plus they charge return killing fees.

[@Kornheiser10]

To young people, remember, though tomorrow is never promised, you don't only live once, you only die once, you'll hopefully live for decades...so treat it as a marathon, not a sprint.

[@kiltedpiper98]

Fantastic episode. Sort of a best of.

[@PeterLapin24]

After listening to the REIT v direct rentals podcasts a while back (and doing my own due diligence),I loaded up on many of the individual REITs recommended by Jussi. My returns have been phenomenal. Selling many of them next year when I’m in a lower tax bracket. Will diversify into broad index funds most likely.

[@giannycabrera1610]

Love the show! Whatever mic Scott was using today wasn't as clear as his usual mic.

[@darrensimms4215]

Agreed. They need to get back to the mic and/or headset to get rid of the echo.

[@Kornheiser10]

Sadly, the 4% rule is based on a traditional 30 year retirement, beginning later in life, when the high expenses of life are mostly behind you, not in front of you, so all these FIRE people either need so much more $$$ outside the 4% portfolio that it's not actually predictable. Scott touches on this, but it needs to be focused on the younger you are. Hint from a 55yr old...you have no idea what your life (and financial needs) will be like 10 years unto the future until you're life has stablizied (if it ever does) until you're around 55, or unless you're single or married with no children.

[@arzdiamondbacks]

One downside of REITs is that the dividends don’t qualify as long term capital gains.

[@Kornheiser10]

Dividends technically never are, but REIT dividends are not qualified dividends that get the lesser tax rate, but when you sell the REIT you'll get the LT rate if you hold over a year.

[@LMac11157]

Is there a link for Passive Pockets?

[@BiggerPocketsMoney]

Yes! passivepockets.com/

[@BiggerPocketsMoney]

www.passivepockets.com

[@daborahgermanstavolkmunte]

!!I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks will be appreciated.

[@janitoronfire]

Remit is a jerk ask him what he thinks about conservatives?

[@lonka2184]

Another DOT com type bubble and a lost decade subsequently is a fear.