Most people can achieve financial security and independence

Define it for yourself, on your own terms. Understand what it will take (roughly). Take action. Have some patience.

Patience is usually rewarded.

Getting to financial independence usually takes decades. It’s gratifying. Enjoy the journey along the way.

The financial industry is often not helpful

Live below your means, be careful with debt, invest/take risk, spend money mostly on needs and don’t get caught up in a consumer lifestyle.

Money, finance, investing can be boiled down to just a handful of things

Live below your means, be careful with debt, invest/take risk, spend money mostly on needs and don’t get caught up in a consumer lifestyle.

The financial industry is usually too expensive

It’s not always easy to know what you are paying for something. If you DIY this, it should likely cost you a very small percentage which gives you a huge advantage over those who pay to the financial (marketing) industry.

Do a few things well and you are on your way

Start investing (the younger/sooner/earlier the better.) Start now. The more the better. Learn to understand markets. Study some history of markets (you don’t have to if you don’t want, but it likely will come in handy at various times). Develop a discipline, learn about risk and how to manage it, keep it reasonable and if inclined protect against huge losses/ catastrophe. Capture the risk premia which creates wealth.

You can (and will) make mistakes & still succeed

Everyone. I said E-V-E-R-Y-O-N-E (Gary Oldman in The Professional) up to the wealthiest people have made mistakes, and had serious setbacks. I sure as hell have made a ton. Learn from them, survive them, get back at it.

FIRE YOURSELF

Education about finances, investments, markets & behavior around money.  Without the bs. There’s more bs than most of us can imagine or want. Hope to be informative & helpful while serious & humorous. I’ve recently written a book on how to achieve financial independence on your own (Fire Yourself).

The financial industry is mostly driven by marketing. It’s loaded with conflicts. It’s often intimidating & wants you to think you need to be an expert in finance & investing & insurance & taxes & estate planning along with other areas. It wants you to think you need to work with an industry professional or firm. That certainly serves them but might not serve you. They will be paid well regardless of how they do their jobs. Often paid much more than you realize.

The truth is you don’t need 99% of what the industry peddles and what many people are led to believe they need to know. You don’t need to become a great investor or have in-depth knowledge of all things financial. If you are willing to put in some effort, have patience and do the things outlined in this book, you can achieve financial independence. Even before you reach that point you will feel better & more secure about your money. This is not a get rich quick guide. If you are lucky or extremely talented maybe you will get rich quick but most people get there by doing smart things over years and decades to get there. The journey is worthwhile and being free from having to worry about money opens up many other avenues in your life.

This book covers many areas of personal finance including:

  • Who are the players in the business.
  • How to think about your financial goals.
  • How to determine your risk tolerance and level of risk taking.
  • Sample portfolios that you can plug into quickly (if you want).
  • Tools to use so you can sleep at night when things get scary.
  • ESG investing.
  • Crypto-assets
  • Behavior and temperament.
  • Insurances, taxes and estate planning

Joseph Reeves

Joseph Reeves – Ex-financial industry veteran. Worked at prominent investment banks, created/developed Money Management division at HNW financial planning firm, Advisor to executives in the non-profit sector. While in the industry attained the Chartered Financial Analyst (CFA) designation and the Certified Financial Planner (CFP) designation.

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