The speaker shares insights on their investment strategies, including selling Tesla stock at its peak and using 'circuit breakers' to determine when to sell. They stress the significance of establishing systems to manage financial decisions and introduce two cautionary pre-fire cases.
On the path to financial independence, there are ample opportunities for mistakes and missteps. In today's episode, we review stories from people who shared their FIRE experiences online in the hopes of educating others. Here we review five of these tales: incurring tragic losses due to trying to beat the market, losing 75% of your portfolio value due to sector investing, regretting aggressively saving at the expense of living your life, and resenting your partner who doesn't have the same degree of FIRE ambitions as you do.
Show notes, including the full text of Reddit posts from this episode:
https://twosidesoffi.com/how-not-to-fire-1/