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Since many companies have decided to either close entirely or cut back as a result of the pandemic, those that have been on the path to FIRE are looking at whether they should exit work now, often earlier than planned, since the economic outlook is bleak. I'm going to give you my take on this and my suggestions. We'll do a deep dive on the economy and what the real decisions have to be in this episode.
This is the final episode in the mini-series "The Frugal Millionaire". In this episode we dive into the costs of healthcare, and how you can reduce them and get the best outcomes. I mean who wouldn't want to live longer with higher quality for less cost, right?
In this episode Myles covers how to save a ton of money with technology, but more importantly how to avoid being shackled by it. We discuss costs, obsolescence and most important, your privacy & freedom.
Cars are the most expensive technological purchase that most of us will make. Yet saving money with them seems to be something we fail at more than succeed. In this episode we will revisit general best practices at frugal car ownership and you might be surprised at the recommendations.
We continue on with the theme of frugality. In this episode, I dig into home costs and how I have reduced them way down. These techniques may seem atypical for many, but the results are outstanding.
This is the first in a small series on frugality and cutting your expenses. I thought it was timely since people are living in a world where they are losing their jobs, reduced income, small business closures, etc. and the natural path is to find ways to get by with less. But this is the way of the millionaire and I'll explain philosophy in this episode.
In this episode I revisit why the quest to be unconstrained matters more during times of instability and crisis, and how mental clarity is the only hope of keeping you on the right path towards your freedom. Although we are in very interesting times, this is when those that can see what is going on with clarity are able to find the opportunities before others.
One major part of my Smart Income stream is rental real estate. Although it is not all of our income, it represents at least 50% of it, so when all of my tenants were forced to Shelter in Place and a large percentage lost their jobs, it brought back memories of 2008. Let me explain the strategies that we are doing so that it might help you determine yours.
Those with clarity of mind will see opportunities when all others see disaster. So how do you find mental peace and get that clarity? Simple. Get through the grief process faster than everyone else.
As we navigate through these uncertain times, we take the opportunity to test the methods of Financial Sustainability against crisis and show it to be the best strategy to secure your future and your wealth going forward.