Financial Independence for Young People

Financial independence is a goal for a lot of folks. But what does it take to get there? My guest today explores that question on his website, Financial Samurai. His name is Sam Dogen, and before writing about money online, he worked in finance. We begin our conversation discussing how his career in equities shaped his personal finance philosophy and made him leery of putting too much wealth in the stock market. Sam shares why he recommends putting a lower percentage of your money in stocks than is often recommended in mainstream finance advice, how that percentage should shift as you get older, and alternative ways to invest, build your wealth, and create multiple streams of income that will give you more control over your fortunes. Sam then shares what it means to be financially independent and some of the blindspots he thinks exist in the FIRE, or Financial Independence/Retire Early, movement. We end our conversation talking about how to plan your financial life for the future, especially concerning what the changing world will be like for your kids.

Get the show notes at aom.is/financialsamurai.