Camp FIRE Finance
Below you’ll find plenty of investment articles and ideas, but is investing safe? It’s risky, right? Isn’t it more safe to keep all my money in cash?
Nope!
Cash is king, but it’s got one major flaw: just like the rest of us, cash gets weaker as it gets older. In fact, your cash loses about 3% of it’s value every single year to inflation.
Stick $100 under your mattress and next year at this time your hundred buck will have have buying power equal to about $97. Given enough time, your cash will be worthless … unless you put it to work.
All by itself your cash gets weaker with age, but when you put it to work by investing it, then your money gets stronger with age – a lot stronger! Investing is like creating a money making machine that works for you 24/7/365.
And it’s not hard! Investing is so easy – all you really need to do is just Index and Chill.
If you’re looking for even more investment articles and ideas then keep on reading. Below you’ll find many, many more posts on this topic, so click around till you find one that you love.
The only unsolved hijacking in U.S. history is also a great example of the Time Value of Money.
In 1971 a guy going by the name D.B. Cooper hijacked a Boeing 727 airliner, received a $200,000 cash ransom then disappeared forever after parachuting out of the plane with his cash somewhere over Oregon.
Nobody knows for sure if Cooper died trying to get away, or if he got away scot free but one thing is certain: $200,000 in 1971 is the equivalent of more than $1.2 million dollars today.
I’ve been pretty vocal on Twitter about cryptocurrency. I own some of the stuff, I have fun with it and I get just enough questions from some of you that I figured I’d share all I know about Bitcoin with you today.
Don’t have a seat. This won’t take long.
The best way to build wealth and achieve FIRE is to invest your money. The best way to invest your money is to index and chill!
I recently made a flippant comment on Twitter about how investing is easy. At the time my investment accounts were up over 15% year to date and my dividend returns had never been better … of course this had everything to do with the bull market we’re in and absolutely nothing to do with my investing prowess.
Someone tweeted back at me that my comment made it sound as if investing were foolproof, which of course it’s not.
Investing can be scary. Investing will challenge your fortitude and will make you second guess yourself. But at the end of the day, I stand by my comment: investing is easy.
The finances behind FIRE isn’t complicated:
Do these four things and you can reach financial freedom in about 10 years. Easy to say, not always easy to do when life gets in the way. If you’ve ever lost your job, suffered a major illness, or had your business fail then you know what I’m talking about.
But sometimes we get in our own way and make boneheaded financial moves, like selling our assets. Selling a wealth creating asset is like killing the goose that laid the golden egg. Don’t kill your goose, keep it and let it produce!