i think its pathetic that you think its pathetic. :). imo he is teaching people how to save for retirement, god knows many ppl esp in the us need that guidance. you must be a lil curious how these rich people became who they are today right?
with that said, im also a fan of financial samurai. i love his reviews, but i find that retireby40 guy to be more genuine
_ About the Author: Sam began investing his own money ever since he opened an online brokerage account in 1995. Sam loved investing so much that he decided to make a career out of investing by spending the next 13 years after college working at two of the leading financial service firms in the world. During this time, Sam received his MBA from UC Berkeley with a focus on finance and real estate. He also became Series 7 and Series 63 registered. In 2012, Sam was able to retire at the age of 34 largely due to his investments that now generate roughly $200,000 a year in passive income (50% from real estate). He spends time playing tennis, hanging out with family, consulting for leading fintech companies and writing online to help others achieve financial freedom._
But hes not some out of the ordinary success story. He had a decent white collar job and just saved money instead of spending it and lived frugally. There’s no secret sauce there. And you’re right that people in the US need that guidance, but he’s not really providing any thoughtful strategies or information that can’t be found on countless other, better written blogs.
These blogs are basically romance novels for jaded office workers. You read it like a fantasy and say, “that could be me”. There’s room for many of these websites, based on whose writing style and situation resonates with you. A lot of that stuff they say doesn’t even make sense, but what’s important is that there is a following for such ways of thinking.
Anyway, seems like these guys are making like $60k a year on these websites? That’s not bad. I might think of doing something like this on the side - create a fake persona and sell intellectual opium to people.
that fs guy actually sort of reminds me of you ohai. but i doubt writing style is all there is to it. the retireby40 doesnt seem fake to me. the fs guy though is definitely suspect. wink*
I doubt that he is outright lying about anything, but I am suspicious of people who use language like “working at two of the leading financial service firms in the world”. What does this mean? Let’s say I am a teller at Chase - that would satisfy that statement. When someone uses meaningless language to try to convey substance, it usually means they could not find anything substantive to say.
It also makes me question statements like when he says he makes $100k a year on real estate. Does that include financing, maintenance, or other costs? Keep in mind that he has an interest in presenting an image of success for the sake of his blog.
The retireby40 guy does seem more genuine, even if he sounds pretty unsophisticated overall. His investment advice is identical to what my dad says. However, that probably appeals to many readers who have similar approaches to investments.
Unfortunately, I do not run any popular websites. It does seem like a good income source for the time invested though.
Since I started investing I have mostly been 100% invested in stocks, (I don’t include my primary residence or vacation house, which I own outright, as these represent consumption, not investments). This aggressive allocation has worked well for me, although being 100% equities is certainly not for the faint of heart. Several smart coworkers have gone to cash in recent years, and that is a rational move in some respects. However, I have amassed more wealth than they have, simply due to my temperament and risk tolerance. Since I am not retiring for a couple decades (my choice – I like my work) I can ride out the volatility and indeed benefit from it by buying the dips.
Why would I take on debt, whether secured by an asset or not? To buy more things? I have plenty of things. I have plenty of time. I live life on my own terms and I have no debt…nor do I want any. You may have rational reasons for taking on debt…but then you will be in debt. If you want to live your life that way. Most people have debt. It’s ok. I don’t ;). Most people are pretty broke and always will be.
i mean interest is like the price of money. there is smart debt and there is dumb debt and to me that is determined by the rate you pay.
smart debt is anything with low rates.
mortgages are around 4% with the tax deduction you get its reallyt around 3%.
car loans is around 2%.
401k loans, you are paying yourself, you only pay back after tax so if you are charged 4%, and you pay yourself back, you prolly pay net 1% since its after tax.
college loans are around 4% with tax decution its 3%.
dumb debt is credit card, avg rate is like 15%. to me, this is the type of debt you should never have.
the richest people i know, actually made money cuz they used opm. borrowed it. so you prolly hindered yourself by not taking advantage. but to each his own. they took that money and invested that shit. which is why the biggest ballers i know made it through real estate. cuz that shit allows the mto borrow 4x the down.
Hey igor555. I’m still bullish on global economic growth and earnings, so I am a buyer (of stocks) in this market. I am confident that recession is not a near-term likelihood, nor are bond yields yet a threat to the market’s earnings yield, so there is room to run for stocks in a positive direction in the US and overseas (naturally I reassess this regularly). On upstate New York, which is a place I love, if your house(s) are for your lifestyle and not speculation–and house(s) should be for your lifestyle, not speculation–then the real estate market is irrelevant. Also, when you own your house(s) with cash and also have a higher net worth including financial assets, it is a good feeling. Some in this forum have extolled a very rational preference to retain debt; they are very unlike me (i.e., not truly wealthy).