In this unscripted episode, I talk about my own personal experiences since the age of 26 in buying my own home, the numerous homes (and mortgages) I've had, and how I eventually paid off the home mortgage. I talk about the differences between investment property and your principal residence, and how many view this unrealistically.
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.
Our world is changing. Robotics, AI and automation will do more to increase layoffs of workers than anything we have seen in the past 30 years. Think you have a safe job? Think again. You don't. The corporate mindset wants to destroy your job, but if you are on the path towards financial sustainability, this shouldn't be a big deal.