Staying financially focused

mofono · 2017-04-20T07:25:48+00:00

The number one goal of MGTOW should be financial independence. I found that the biggest shackle in life was having to hold down a job surrounded by people I disliked.

SpaceWolf35 · 2017-04-20T06:18:20+00:00

In the process of consolidating everything into one USD margin account with interactive brokers. Since I have a small account, I figured it'd be best not to spread myself too thin across various account types or brokerages. This way I'll have cheap and easy access to a variety of instruments.

scotFree66 · 2017-04-20T07:40:26+00:00

Not working all hours these days but spent the best part of 25 years paying into pension funds. I also have a modest rental income from own properties.

I still need to work for another 10 years just to pay the bills but my pension age income is all sorted!

mofono · 2017-04-20T11:56:25+00:00

My recommendation is to try to choose an ambitious savings rate and stick to it. For example, invest 90% of your take home pay. This prevent fake saving, eg not spending money on coffee, which saves $2k per year, but then having a baby and then blowing $30k per year. If you were aiming for a 90% savings rate you wouldn't be able to do something so dishonest to yourself.

Another recommendation is to diversify. Invest in different products to reduce risk.

Ananda_Arahant · 2017-04-21T03:20:07+00:00

Minimalism! https://youtu.be/Rc7XxtTkWe4

sukhoi_tractor · 2017-04-21T14:56:06+00:00

Pardon me if I'm wrong, but wouldn't you want to diversify your brokerage acct., 401K and IRA? If Vanguard goes under, or they run a string of particularly bad trades, that could wipe out a pretty significant chunk of your savings

Title	Staying financially focused
Author	fat-stanley
Upvotes	8
Comments	8
Date	April 20, 2017 6:09 AM UTC (9 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/66fxe6/staying_financially_focused/
Archive Link	https://theredarchive.com/r/MGTOW/staying-financially-focused.594063 https://theredarchive.com/post/594063

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