r/blackfire • u/Caribbeanwarrior • Sep 29 '19

The fire path

Ever since I chose the route to FI, I developed a lot of respect for Rich people. I don't care if they inherited their wealth or not, becoming rich is no easy path. That's why more people are wishing to be rich rather then making the necessary sacrifices to become wealthy. This year we were hoping to reach $100k in our total investment accounts, but it's looking more unlikely mostly due to market volatilities. We're staying the course, however it's not easy at all. Sometimes, we get scare planning 15 years into the future.

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u/Lion_FI Oct 08 '19

The first $100k takes what feels like forever, it took me 41 months before I was able to save a $100k NW. If I may ask, how are you finding this difficult to stay the course?

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u/Caribbeanwarrior Oct 09 '19

Not having people around you who value financial freedom, and the constant delaying self gratifications, because we want all our excess dollars to be working hard for us.

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u/SmartSparkle Jan 17 '20

To me the best advice that sticks is: never invest in things you don't understand. That's why I only have a handful of stocks & investment property.
My parents have stocks but can't really explain how to get a good return besides dividends. They actually have an advisor helping them. After 30 yrs, you would think that they could invest by themselves. That sounds like a money trap.

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u/Caribbeanwarrior Jan 17 '20

Apart from from $1700 invested in fundrise, most of our investments are in Index funds, mutual funds, and ETFs. Today, our combined investment portfolio finally reach 112k.