Це відео не доступне.
Перепрошуємо.
The Problem With Financial Independence Retire Early
Вставка
- Опубліковано 21 гру 2022
- The biggest mistake you'll make when chasing FIRE.
INVESTING
► Webull (free stock) kvli.link/webull
► moomoo Futu SG (free stock) kvli.link/moomoo
► Interactive Brokers kvli.link/ibkr
► Tiger Brokers (free stock) kvli.link/tiger
► uSMART (free stock) kvli.link/usmart
► POEMS Cash Plus kvli.link/poems
► moomoo US (free stocks) kvli.link/moomoous
► Syfe kvli.link/syfe
► Seeking Alpha (offer price) kvli.link/seekingalpha
ROBOADVISORS
► Endowus (free $20) kvli.link/endowus
► Syfe kvli.link/syfe
► MoneyOwl (free $20) kvli.link/moneyowl
► StashAway (50% off fees) kvli.link/stashaway
► AutoWealth (free $20) CODE "Tan Kel Vin" kvli.link/autowealth
CRYPTO
► Gemini (free $10) kvli.link/gemini
► KuCoin kvli.link/kucoin
► Crypto.com app (free $25) CODE "kelvinlearnsinvest" kvli.link/cryptoapp
► Crypto.com exchange CODE "kelvinlearnsinvest" kvli.link/cryptoexchange
► Coinhako (20% discount) kvli.link/coinhako
► Luno (free $5) kvli.link/luno
► Coinbase (free $10) kvli.link/coinbase
► Independent Reserve kvli.link/independentreserve
► Ledger kvli.link/ledger
PAYMENT
► Trust Bank (free $10) CODE "R2MQBA4S" kvli.link/trust
► Instarem Amaze CODE "plTefu" kvli.link/amaze
► CardUp ($30 off) CODE "KELINVEST" kvli.link/cardup
► ipaymy kvli.link/ipaymy
► GooglePay (free $3) CODE "eo13e2v" kvli.link/googlepay
► Revolut kvli.link/revolut
► YouTrip (free $5) kvli.link/youtrip
► BigPay (free $5) CODE "QBHVUHL7HU" kvli.link/bigpay
► Wise (free transfer) kvli.link/wise
► SIA Kris+ (free $5) CODE "T425139" kvli.link/krisplus
► DBS Paylah (free $5) CODE "AHVULE614"
► FavePay (free $1) CODE "FAVETANKEL" kvli.link/fave
LIFESTYLE
► EverDesk Table (up to $145 off) CODE "22+KLI" kvli.link/everdesk
► ErgoTune Chairs (up to $30 off) CODE "22+KLI" kvli.link/ergotune
► Bokksu ($15 off) CODE "KELVINLEARNSINVESTING" kvli.link/bokksu
► Qoo10 kvli.link/qoo10
► Shopback (free $5) kvli.link/shopback
► Planner Bee kvli.link/plannerbee
► Envato kvli.link/envato
SOCIALS
► Instagram kvli.link/instagram
► Telegram kvli.link/telegram
► Twitter kvli.link/twitter
None of this is meant to be construed as investment advice. It's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites.
Hey Kel 👏🏻👏🏻👏🏻so happy to see this video from you finally after that lunch the other day! Loved it, n yes def asking the right questions. If I had only one last day, aside from having my parents with me, I’m so happy that my average day in Bali now will be exactly what I want to do most on that last day. I think I was very lucky in a way to have been able to live extravagantly once upon a time on my lawyers salary and to understand that all those excesses could not buy me happiness when the fundamentals were lacking or the wrong fit. There’s a quote from Atomic Habits about how happiness is having a lack of desire to change your everyday circumstances. If that’s the bar, then in my current state of FIRE, at 39 years old, I guess I’m super happy lol. It’s actually been that way for quite a few years now. Even before we officially FiRED in Bali. Even when we were working hard at our little surf school in Vietnam and saving up whatever we could so we can RE. Maybe that’s one more way to look at things. Maybe some ppl r miserable on the way to FIRE cos they have a lot of unfulfilled desires they r giving up on, which is sad and in that case definitely the opportunity cost of their reaching RE is very high. But in some other cases, like my own journey perhaps, I know that certainly many of my peers looked at me and thought wtf is this girl doing w her life, but during my last decade of simple/frugal living I honestly hardly ever feel deprived, but instead I felt, when I’m on the surf or on the road travelling off peanut budgets, that I’ve never been more alive. So maybe the next level analysis of whether any of us are doing our life right is how we really feel. If there is a lot of unresolved desire then there will be discontent n unhappiness n maybe the FiRE path won’t work out correctly for these people. On the other hand, if super simple living is one’s cup of tea, FIRE isn’t really so much of “missing out on life” I guess, but rather just “circumventing unnecessary excesses”. On the other hand I guess I had the benefit of having a few years where I really lived it up first, that’s why I can say all the above definitively for myself. In any event, loved the video and agree w the message that we should live our lives well, with much appreciation for the time we have to live 😻👏🏻👏🏻👏🏻
This is the best video you ever made ! The purpose of life. 👏🏻
Such a great message for those chasing FIRE, and it is true that not everyone will achieve it, nor is it suitable for everyone.
Please understand your own situation and not give up things that you will learn to regret in later time.
Also, I'm getting some @JeanVoronkova vibes from this one!
Agree with Ow Ariz that this is the best video that u've made so far! 👍 Just to add (without going into the details) that, from a philosophical perspective, each of our life course is pre-determined, with us merely going along for the ride as passengers instead of drivers.
After living for almost 5 decades, I can confirm this is true 👍🏻 ⅔½²x
Possibly your best video yet. Good job and have a great 2023!
One of the best video you have produced and I resonate alot.
I have many friends who always complain not enough money, they are also not making any effort to grind and sacrifice apart from their 9am to 5pm. They are also the ones who can spend on vices like no tomorrow.
Either attached or single.
I am not saying it is entirely wrong, their money, their problem.
If they have the time to complain, I believe they have the time to look for side hustles after their 9am to 5pm job.
Definitely agree. No point rushing to the end destination if you miss out on the whole journey along the way. For me I'm just making sure I invest/save like $500 to $1000 a month. On months I spend more going out or buying games, I just save less. So be it. But I just try to keep a routine of setting aside at least $500 a month. I don't care when I get to retire. Saving and investing are both just safety nets for when we eventually cannot continue working. But in the meantime, you don't have to wait till retirement to start enjoying life right? 😉
Absolutely! The hustle culture totally misses this point.
Great insights Kelvin, thanks for the video. 😊
Please people just enjoy life. I did the fire thing even before FIRE. I saved big time from 18 till late 30’s. I did save up a lot but now I am in my 40’s and all that money means absolutely nothing. My biggest regret was missing out on things when I was in my 20’s. I could have did a lot of things and met so many girls but I decided to spend all that time working and living very cheap. I thought that how I felt in my 20’s was how I was going to feel later in life. Boy was I wrong. First off ED(if you don’t know what it is then google it). 2. Body deterioration. 3. Just feel like crap. 4. You just don’t care about anything anymore. I just wish I could turn back the hands of time and enjoy the performance of my body.
Wow, great perspective! Your comment could be turned into a 1 million views video (at the very least)!
It's all about striking that sweet spot between saving up for F.I.R.E and living it up in the here and now. You wanna make sure you're setting yourself up for a comfy future, but you also don't wanna miss out on all the good times and memories along the way. Just find the right mix that works for you and keeps you smiling!
Great content, great advice… thanks for sharing
Nice down to earth perspective. 🙏
very good video sharing a balanced point of view!
I think F.I. is a good goal to achieve, without necessarily trying to R.E.
I feel that some form of work still gives meaning to life.
Great vid. Time is the ultimate currency
Definitely one of your best vids if not the best ❤
very relatable, Kelvin. Such an inspiring video.
Great content, and it is so relevant to me as a Singaporean.
Great video, good content n advice .Have a blessed 2023 Kelvin😊
Always well-said and balanced contents. Thank you, Kelvin.
Always good video with inspiring content, keep it up!
Great video. Well balanced and logical.
Brilliant!!
Come on guys...
Let's all admit that this channel is soo underrated, at first when i started watching his videos, i couldn't able to understand what he speaks, but now i got use to it, and love his content to the fullest!
Happy journey, groww stronger 💪
Edit: By the way fortunately i found many finance yt channels at a young age of 18, thank God 🙏🏻
Awesome Kelvin, good video on introducing the idea of FIRE 😊 Would u consider widening the scope a little? Such as doing a video on Geo-arbitrage while on FIRE? ie. earning SGD or USD but living in cheaper places in Europe. Or…perhaps a video on death and taxes - Inheritance taxes on US portfolios? Also, there’s no need to reach 1mil to retire… Jean would confirm that. 😂
Dont spend now, but spend later means paying more for the service
/goods. Morever, as we get old, energy depleted. Worthwhile experiences with close ones should be enjoyed reasonably as we ride through life.
Great video!
You are absolutely correct: FIRE is difficult for those with kids.
I love your video ... contents, and you being you in your presentation style, no pretense ... though I think only Singaporeans understand some of your terms and lingo 100% 😁
It really depends on the compass of each person's life, for me I place emphasis on health,knowledge, family, friends and wealth. I invest my time and money in these areas to net me returns in those areas,entertainment isn't on my list so I minimize my spending on that, what's the point of entertainment when it doesn't give you a return that you feel satisfied with?like you can have pets and plant plants and enjoy time with them together with your family for cheap entertainment and still achieving FIRE
Try the book 7 habits of highly effective people
Insightful
I spend like 20% of my income, and save 80%. That's excluding all the CPF that I get as well. I'm in my 20s. Hopefully on track to retire early.
All of us have a goal in life. But I think what's more important is the journey to reach our goal rather than the goal itself.
I personally want to achieve FIRE so that I am not at the mercy of my idiot bosses, crazy 17hour workdays & weekends when my phone receives messages non-stop & an overall toxic working culture. The only benefit to all this is that it pays well but it's like living in prison.
Life experiences? lol...We can create life experiences at any stage of our lives. The more important question would be, who do we create life experiences with? Ppl who genuinely care about us or those with toxic group of friends / family? Becos as we all know & experienced, the latter group is a waste of time, time which could be invested in other productive things. The problem is we will realise too late until we are much older & wiser.
That's where FIRE will enable us to create more meaningful & genuine life experiences with the ppl we care about, and who genuinely care about us in return.
Sigh, I started investing near the end of 2021 and am down on my SG and US equities. I don’t buy options and just dca into REITs and VTI and QQQM because I have lost some money through meme stocks which I had thankfully sold before it went lower. It’s funny because people who have not invested are outperforming people who invested 😂
You need a longer term investment perspective. A few years ago when I started investing in an index fund, I actually made losses in the first 2 years. I just left it alone and after 5 years, the value of the fund tripled. If u look at blue chip stocks like DBS, if you bought and held it for 20 years you would've made at least 10x your money.
@@daniellin5581 I see, guess I'm just impatient cause I always look at the stocks every morning I wake up and feeling affected if the loss value increased. Maybe I should set up auto invest and just leave the account there for a few years
Wise words ☺
Kelvin on fire🔛🔥
中肯 👍🏻
Agree wholeheartedly
Very interesting perspective and somewhat philosophical. To share my personal experience….when you are 20yo you can eat and enjoy buffet every week still not adverse impact on health. But if you do that at 50yo…you will visit hospital very soon. Therefore, not wise to sacrifice in extreme and missed the nice things in life.
Hi kelvin, i think after having a huge loss in investment, we may start to think that it is painful not to spend the money and ended up with huge losses, the money loss could have been used to do so many things and create a lot of memories.
good vidz... but stock mkt not always a 80% loser's game to gain FIRE.. will end up worse off instead... articulate the theory is easy though.
Hi Kelvin, how do you manage your Tesla short puts, right now when the stock is collapsing ? Do you roll down and out far away for a credit ?
I usually sell 30% strike distance. I have a 140 strike put expiring next week. Because I think Tesla is due for a relief rally soon, i am planning to take assignment and sell 140 strike call.
I am also loosen up after reading the book happy money by ken honda...will read the die with zero book soon.
Hi Kelvin,
I have always loved your content and am constantly looking out for your new video uploads.
However, this is a particularly like-deserving one which I must compliment; and I like it that you have very aptly demonstrated the need to balance between preparing for the next phase, and living in the present moment. I opine that matters in life is definitely not binary and things we wish to achieve, or wishes to do need not necessarily be mutually exclusive.
Anyhow, I sure hope that you will achieve your personal and financial goals real soon, and I certainly look forward to brighter days after the recent shinanigans with $TSLA and the market in general. Presently still DCA’ing and am remaining hopeful to Huat Big Big (just like post 2008) after this bear-market episode.
Yea, this is something I'm learning as I go!
Best to retire 50 or earlier. After 50, physical deterioration ramps up quickly!
I'm retired at 38. Never chased fire, just steadily accumulate return and invest. I had a day job, and the knowledge in the day job helped me A LOT.
Thanks
Wow thanks again!
Wow, Kelvin now using instrumental music and ambience, together with a nice wisdom words to enhance the experience! Thumbs Up!
If you are interested I think Andrei Jikh also use this to a great extend in some of his videos, especially when he has something serious and/or important to tell..
Thanks for sharing your insights! I agree with what you said re FIRE. I think if I was young and do not yet have attachments like marriage and kids, I could had seriously subscribed to FIRE movement. Who doesn't want to stop working and not worry about finances in their early 30s or 40s? BUT I am so glad that FIRE wasn't a thing when I was young LOL, and I have NO regrets when I look back at how I spent my time during my 20s when I started my first job upon graduation, how I spent my savings on holidays with the love of my life and making all those memories that still live strong in our hearts today. Ditto for the family vacations with our kids when they were 5-6 years old...priceless. If I had been trying to save 64% of my income back then, I would not have any of these fond memories today (but maybe I'll have more digits in my bank account). Heck, I might still be single today in my 40s, since my ex-girlfriend (aka wife) would had dumped me long time ago hahaha. Trust me, we are only young once to do stupid things (just make sure they are not crazy dangerous or harmful hahaha, use common sense lah), and you can't turn back the clock. Having a holiday in your life stages in 20s, 30s, 40s are all different experiences. You can't say "I'll do what I planned to do in my 20s when I have gained FIRE" when you are already in your 30s/40s; the experiences/abilities will be very different. Money spent can be earned again. Time and effort is always needed to earn active/passive income, but don't give 100% of your life to it. Like you said, "be present". PS - I am not against FIRE or retiring early etc, people make choices and choices have consequences!
Life is short just enjoy when u can and healthy stage...
Don't invest all your assets in stocks..50:50 for your own safety especially when u have family with kids.
LOL... my goal ever since i learn about money when i was still schooling was find ways to "farm" more money (if can retire early) so I can have more time for family... and buy more GAMES. If i have 1mil now... what next? aim for 2mil? its meaningless. if i hit certain amount, i want to spend money. hence i learn more on investment.
Chai fan ban mian for years already idk if it works but I hope it does
Great video! In the fulfillment curve you mentioned, how much do you really think its "Enough"?
Because it's easy to say at the peak of the curve that amount of money spent or fulfillment is not enough, isn't it quite subjective?
Yea it's subjective. For me, as long as I don't need to worry about food, money and hospital bills, it's enough
The problem with FIRE is that one needs to be married and NOT have kids.
Married - enjoy economies of scale
Got kids - cant retire before they are done with Uni.
Simply that.
if able to fire at 40, you have at least 30 years to 'experience' life. fire in fact allows someone to enjoy life more. The correct question to ask is "fire through savings?" or "fire through investment?". fire through savings can be brutal. If choice is fire through investment, then question becomes what investment? If it is stock investment, then a concentrated portfolio on a volatile stock like tsla cannot make it, this you discovered yourself in the last 2 years. when someone loses a lot of money either through gambling or investing, he/she will start questioning whether a frugal lifestyle is worth it....should actually spend more on family etc instead of hardcore savings and losing it all in gambling or investing. If tsla is 500 now, i don't think this video will even pop up. You should go back and relook at your whole investment thesis again.
Thanks for the advice. I'm relooking at it constantly. The portfolio will look vy different next few months
That took a quick turn. If I left the last day, I will all-in Tesla.
So I am replying to a multi millionaire to be?
Enjoy your Christmas with your family
Thanks, you too!
$1M how to retire? too low a goal
Learn to live in the moment also we never know what can happen tomorrow
Merry Christmas to u
@@KelvinLearnsInvesting merry xmas Kelvin, continue doing what you you do, you are doing great 👍
Hohoo...
Kelvin didi more matured nw....
Pls tell boon tee to watch this video.
人在天堂，债在银行
Having being brought up in a strict Chinese family, I don't like FIRE and YOLO as they totally disregard building a family legacy
Actually both do. FIRE's portfolio can be passed down after the person dies. YOLO can also mean spending quality time with the family instead of focusing too much on working
@@KelvinLearnsInvesting but it isn't being continuously built in both cases though, perhaps I should be more specific. FIRE and YOLO definitely not for me
+1
Time to buy your Tesla 😂