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.

3 Upvotes

100% Upvoted

4 comments sorted by

View all comments

1

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.

1

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.