In this podcast, the concept of playing the long game in achieving financial independence is discussed. Topics include curating a balanced lifestyle, setting boundaries, celebrating milestones, choosing reliable sources for financial advice, and finding the right balance in your financial journey.
Playing the long game on the road to financial independence by building the right mindset and lifestyle.
Focusing on happiness and enjoying life now without sacrificing it during the journey to financial independence.
Deep dives
Treating Financial Independence as a Game
Playing the long game on the road to financial independence, treating it as a game like Monopoly. Having a long-term perspective and building the right mindset and lifestyle to match the end goal.
Finding Happiness Along the Journey
Focusing on happiness and enjoying life now, without sacrificing it during the journey to financial independence. Identifying activities that bring joy and implementing them into daily life.
Investing Time, Building Boundaries, and Tracking Progress
Investing time in yourself through activities like mini-retirements or hobbies, setting personal boundaries to protect your time and money, and tracking progress to stay motivated on the path to financial independence.
The Financial Independence Retire Early movement benefits from a long-term mindset. For many investors, this equates to concepts like time in the market, dollar-cost averaging, and militant budgeting. And, yes, there's a time and place for all three of these strategies. However, by only focusing on the numbers, we skip a crucial truth: we're only human.
In this chapter, Sarah from Keepin' It Frugal covers how to play the long game on your FIRE journey. Part of this involves the use of time-tested investing tactics, like tracking the right stats and ignoring the punters.
But beyond the spreadsheets and data, it requires a bit of perspective and a lot of self-care. This includes marking your wins, slowing down to smell the roses, and learning whilst you work towards your goals.
By this chapter's end, you won't only feel more equipped to reach FIRE; you'll also have some ideas of what to do until you get there.
Any advice is general and does not consider your financial situation needs, or objectives, so consider whether it’s appropriate for you. You should also consider seeking professional advice before making any financial decision.
If you are considering any of the products we spoke about during the show, be sure to read the Product Disclosure Statement & Target Market Determination available from the product issuer’s website before deciding.