My Journey to FAT Fire $2k to $18 Millions
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- Опубліковано 18 вер 2024
- Time to document down my journey to FAT Fire. People usually don’t talk about it, but I intend to help others to FIRE as much as I can. Share my knowledge and learn from one another.
“Save and invest” is the way. so true.
Wealth to us is invisible. People with big houses, big cars, flashy luxury items... most of them are in debt and / or live paycheck to paycheck. Many millionaires next door are those that you would never know have that kind of money. 😍 We just put out a video of us hitting Coast Fire on our Traditional Fire journey and we talk about buying $10 t-shirts and wearing the same close for 20 years. Traits like that allow you to build millions. Great advice on savings rate! This year our savings rate is at 62%.
Ive met millionaires who drive nice cars…. whats the point of millions? either way.. enjoy it!
@@BrokeAgain It's all personal to everyone. Millions can buy security and it can surely buy you nice things. We are with you, enjoy it how you see fit!
@@BrokeAgain My definition of nice car is a bit different. I need more to afford that.
Great content. I recently just started this FAT FIRE lifestyle. Thank you for sharing your experience.
Love this. We’re alike in a lot of ways. Really looking forward to following your journey.
Nice meeting you! Share your journey too. I'd love to hear! Thanks for your follow.
@@teslamoneyman426 Also started as a programmer in the early 2000s. Also made some contrarian bets. Able to retire early, but also have many interests that keep me going. Also aiming for 100m+.
Thank you for sharing. Please share your investment ideas going forward. Also travel and fat fire plans. Well done so far, but Tesla scares me due to his misdirection, delays and questionable car quality. Still no robo taxi while Uber just made a deal with Waymo. Looking forward to next video.
Thank you for your candor.
interested in the cover call (stable), thanks for the inspiration
Also very surprised at the bullishness on Tesla
Good video Joseph.
Keep em coming please.
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Stephanie Janis Stiefel. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
How can i reach her, if you don't mind me asking?
Well her name is 'STEPHANIE JANIS STIEFEL'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
Would love a video on your due diligence process when selling puts on a stock!
Thanks for sharing. I’m looking forward to your content.
Some feedback, maybe kill the music. I find it distracting and harder to hear.
@@jastorino Thanks for the suggestion!
Great content and information. I would love to see an example and walkthrough of your analysis for a company. It sounds like you hit gold investing in Tesla and NVDIA.
I can feel the inheritance.
I❤ this video........ It's a great motivation for me
@@kwokweng76 if an average me can do it, everyone can do it! Keep up the effort! 👍👍
Yeah, I really hate working for people. Especially today where they get to make us work more but pay us the same or less. It's really bad out there. I've reached coast fire thankfully and should find an avenue to work on my own terms.
Excellent video and thanks for sharing. If you have the time, I would appreciate your thoughts on TSLA going forward. Why do you see a 10x from here? Thanks.
Will do
Can you talk about your investment thesis with TSLA? Most FATFire folks would consider diversifying into index funds at that level of net worth.
Please make a video about making side income on calls and puts. Thank you!
Hi Joseph, I followed you here from X, I am a lurker there. You mentioned that you ‘re looking at move
to lower income tax state. Where are you looking to move?I am thinking about Las Vegas but the summer heat scares me. Can’t beat the weather in San Diego tho.I am in SoCal( East San Gabriel Valley).The summers seems getting more extreme .
Hello Joseph, great video, thank you!
Could you share more about your job journey?
I’m 28 but I’ve had a hard time finding a well-paying job that aligns with my core values even if i have a corporate finance degree.
Is your conviction of Tesla still as strong as when you started investing? How much of your thesis is based on FSD?
Thank you very much for the video. Very inspirational.
@@yobtoyb I will work on a video “A Case for Tesla” to cover this topic. Stay tuned.
Please share your strategy for covered call and covered put! Thanks for the sharing!
@@rickyputra98 Okay. I’m not a pro though. Just to set expectations here.
Is it possible you overworked with having grown the portfolio to $18M before retiring? Curious to know what went through your mind when you hit 25 times your expenses? What kept you going if you did not enjoy working for others?
🙏🏼
Whoa, great job. Does that mean you live off of dividends? Or do you sell off your portfolio every year to pay for your expenses?
@@bezosphere Sell some to live off of. A portion of it used for selling covered calls.
did u try convincing family and friends to invest with you so they could be FIRE someday. why or why not? how was your investment suggestions received?
@@jaxkewl I did. Most of my relatives followed except one (who doesn’t invest).
Yes, please do share about how you generate income with covered calls. Thanks
Noted!😊
If you really have 18m like you said, you should have fat fired much earlier, not 2024
@@melodyn6419 I love my coworkers (they are like friends) until I’ve to change team and no longer work with them. Most of my portfolio is in IRA, I can’t access it until after 59.5 yrs old. This is why I need to have enough $ in my regular investment account to live on prior to hitting 59.5. There are ways to get that IRA out earlier but I don’t want to take it out yet as I believe the companies I invested in still have a huge growth potential in the next few years.
why not more diversified?
@@SamuelLee-d1k I can explain in another video.
Are you continuing to stay in California after retirement? Have you considered moving to a low income tax state?
@@Farhancanopyone yes, I am active looking to leave CA.
Tesla is going down! Musk has lost his mind.
At 29:20, what did you say that you're invested in? Also, The Millionaire Next Door is a series now, which one specifically did you read?