Ready for the Ultimate FIRE Investing Challenge to Retire Early? Warning: It's Not Easy
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Ready for the Ultimate FIRE Investing Challenge to Retire Early? Warning: It's Not Easy |
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This Video Uploaded At 01-04-2021 18:43:24 |
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I want to share with you a simple investing challenge that can help you to achieve financial independence retire early - also known as the FIRE movement. This challenge is coming from someone who already took it on and overcame it. And I was able to quit my job and retire in my early 30s because of it. I now live off of the five-figure annual dividend income my stock portfolio generates for me.
Let me tell you, honestly, it's an amazing position to be in. It's all about that sweet, sweet freedom. Being able to do what you want, when you want, where you want, why you want, with whom you want is priceless. The investing challenge I'm going to tell you about is simple. But simple doesn't mean easy. This challenge is actually very difficult.
I'm presenting this investing challenge to you viewers for two reasons. But there's another reason. And the second reason is even more important.
The math checks out. And I can almost guarantee you that if you take this challenge on, you will achieve financial independence and retire early. You will achieve FIRE.
But this challenge can still deliver remarkable results at any age. Even if you're already in your 50s and can take this challenge on to become 50% financially independent within a few years, that'd still be a great outcome.
So no matter how old you are, strongly consider undertaking the ultimate FIRE investing challenge. That's right. Whatever you spend, match it with investing.
Of course, this challenge is impossible to undertake if you don't know what you're spending. As I've noted in prior videos, it's critical that you track every single penny of your spending.
And that's okay. That just tells you where the fat is. Can't cut the fat out if you don't know where it is.
Think that's too difficult? Don't make enough money? Well, what you make is less important than you think. You can outspend any income. Instead, take a look at those expenses. If you find it hard to invest what you spend, figure out how to spend less. Focusing on what you keep over what you make is so important. One you do, you'll see the need to spend less.
First, the challenge will be easier by virtue of a lower spending target to match. Second, you'll have more money to invest by virtue of less money going out the door on expenses.
I invested my savings into high-quality dividend growth stocks, which supercharged my results and started raining down upon me safe, growing dividends. And I was able to reinvest those safe, growing dividends, which bought me more stocks paying safe, growing dividends.
I went from below broke to financially free in under a decade. And I did that after growing up on welfare in Detroit, having my parents abandon me, not having a college degree, and never having a high-paying job. So if I can do this, you can do it. This challenge might seem hard at first, but it actually gets easier and easier as you go.
There's a positive reinforcement here. The challenge rewards you in real-time with more wealth and passive income. And the more wealth and passive income you build, the more you'll want to build. It's like a gravitational pull toward success.
We're putting out a ton of videos that highlight compelling dividend growth stocks through the power of dividend investing for long-term investment. You'll never be short on ideas or opportunities here.
Then watch that wealth and passive income snowball grow right in front of your eyes. I'll see you on the mountaintop.
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#FIRE #FinancialFreedom #RetireEarly
LEGAL DISCLAIMER: Please consult with a licensed investment professional before investing any of your money. Never invest in a security or idea featured on this channel unless you can afford to lose your entire investment. If your money is not FDIC insured, it may decline in value. Jason is not a licensed financial advisor, tax professional, or stockbroker and he does not purport to be. Links above may include affiliate commissions paid to the owners of Dividends and Income and help support this channel. |
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