On today's show I am joined by the legendary economic analyst Lynette Zang on the big picture of why things are how they are, where they are going and what is likely to be the best investment and security option for the future.
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Can FI followers survive a bear market?
There is a lot of interest in the FIRE (Financial Independence Retire Early) movement, but I am skeptical of whether those that achieve FI during a bull market have what it takes to make it through a bear market...
In previous articles, I have stated that the concept of FI (Financial Independence) is flawed. Although the pursuit of it is admirable, the fact is that few FI followers have been able to do this through bear markets. Consequently putting yourself on that path has some dangers. I prefer to concept of "financial sustainability" and this article gives you tangible steps to take to achieve that.
Wealth is rarely generated without someone taking some form of risk. It might be the purchase of real estate, a business venture, etc. If you have a positive result from this, you could become wealthy. If you fail, you could become bankrupt. Let's talk about the balance of life risks and risk mitigation.