I agree 100% with this: "i am not at all interested in going the blogging/internet-market/ESL your way to a 2k/month live-on-a-thai-beach lifestyle so highly lauded on these boards. i don't see that as a path to true financial security or wealth.
- The whole vagabond lifestyle isn't for everyone. Oh, and go ahead and call me Beta...but I like to eat in nice restaurants and enjoy the company of beautiful women...and really wouldn't think for a second to split the tab. It just isn't my style. The whole "first round is on me" line just doesn't "fit my frame".
Next, I keep seeing references to making your money with compound interest. I use to think this way too. Hell, we are taught to think this is the path to "financial security and wealth". I'm not going to tell you not to save and not to just drip funds into your 401k (if you have one). That may indeed be the "safe bet" (doubt it, but to each their own). It is just my opinion that you have a better shot at "financial security and wealth" by being slavish towards positioning yourself for "an event" vs putting a certain amount in an index fund and trying to count how many years it takes to "reach your number". Save that for the finance professors (who don't have any money anyway).
Besides, seeking a situation that has a potential liquidity event down the road is more exciting, and if you do nail it can result in having "financial security and wealth" at a much earlier age when you can enjoy it.
I won't speak for Gringuito or the OP, but I'd bet they didn't bet their future on socking away money in the S&P500 over X years at a projected Y%.
Speaking for myself, I'd rather put my money behind betting on myself that I can knock the ball out of the park...and use the saving in an index fund approach simply for chips that I want to permanently take off the table...
- The whole vagabond lifestyle isn't for everyone. Oh, and go ahead and call me Beta...but I like to eat in nice restaurants and enjoy the company of beautiful women...and really wouldn't think for a second to split the tab. It just isn't my style. The whole "first round is on me" line just doesn't "fit my frame".
Next, I keep seeing references to making your money with compound interest. I use to think this way too. Hell, we are taught to think this is the path to "financial security and wealth". I'm not going to tell you not to save and not to just drip funds into your 401k (if you have one). That may indeed be the "safe bet" (doubt it, but to each their own). It is just my opinion that you have a better shot at "financial security and wealth" by being slavish towards positioning yourself for "an event" vs putting a certain amount in an index fund and trying to count how many years it takes to "reach your number". Save that for the finance professors (who don't have any money anyway).
Besides, seeking a situation that has a potential liquidity event down the road is more exciting, and if you do nail it can result in having "financial security and wealth" at a much earlier age when you can enjoy it.
I won't speak for Gringuito or the OP, but I'd bet they didn't bet their future on socking away money in the S&P500 over X years at a projected Y%.
Speaking for myself, I'd rather put my money behind betting on myself that I can knock the ball out of the park...and use the saving in an index fund approach simply for chips that I want to permanently take off the table...