401K’s/Primary Home Not True Wealth.
> Career – must be merit, performance based.
> Real Estate – good location, good infrastructure, cash flow.
> Stocks/bonds – index funds.
> Online Business – subscription based, scaleable through technology.
Implied – 80% savings rate (I do 90%, but you get the point. Without saved capital you are fucked. You might as well just give up before you start.)
You only live once. Your 20’s and 30’s are, physically speaking, the best years of your life. To forgo snowboarding, music festivals, boosted board exploration, and the like is to give up on life much too early.
The FIRE community is wise to save all they can, but to the detriment of any happy lifestyle is a fools errand. You will always lose the economic and LQ battle throughout life’s journey if a frugal disposition overrules every single daily decision.
Let’s define LQ, as this concept if critical for any happy, fulfilled, dynamic life. LQ equals life style quotient.For my entire life, IQ, or intellect quotient, is all the rage. From SAT/ATC scores, to average letter grades in college, it seems your intelligence is the prenominate factor in a successful life.
As I progress in my career’s success, I find IQ is not as important is previously believed. Quite the opposite actually. Emotional quotient is more important than IQ in a business career working with people. You see it’s not how smart you are but how good you make people feel that counts. With lots of good vibes felt across all the employees that work on your accounts, the harder, more diligent, and dedicated the colleague will improve the performance of your accounts. This is very good!!
Outside of emotional intelligence, which is critical in any successful career, there are other highly important concepts. Those include business skills, work ethic, curiosity, integrity, ruthlessness – all major contributing factors toward winning the game of life.
What school on this planet teaches these things? ….the internet. And that’s it.
Think about that – the internet has all life’s worthy lessons and classes. Not public education or costly college tuition (which is criminally priced at this point, plus INTEREST on borrowers, crippling the majority of young people).
If you want to build true wealth in life, focus on working in merit, performance based careers while investing those proceeds in real estate, stocks, bonds, and online businesses.
When done diligently and with well thought out purpose guided by personally chosen goals, an investor can be able to achieve financial freedom in 10-15 years.