MILLIONAIRE EXPLAINS: Overcoming the Paycheck Mentality to Retire Early
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- čas přidán 16. 06. 2024
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Our Rich Journey - MILLIONAIRE EXPLAINS: Overcoming the Paycheck Mentality to Retire Early: It's a common concern for many on the path to financial independence and early retirement. The transition from receiving a steady income to relying on your investments can feel daunting. We've been there! After achieving financial independence, we navigated the shift from earning to withdrawing, and it was a psychological leap as much as a financial one. In this video, we share our insights on overcoming the paycheck mentality, the importance of psychological adjustments, dealing with market volatility, and setting up a robust emergency fund. Plus, we delve into diversifying income sources to ensure a steady flow, even in retirement. Join us as we discuss how we've made our financial freedom work and the peace of mind it brings. Are you ready to make the switch?
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#FinancialFreedom #HowToRetireEarly #FinancialIndependenceRetireEarly - Jak na to + styl
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He knows what he's talking about. I have retired and had to switch my mindset from saving to spending and enjoying life.
Same here! We are enjoying our life but it’s strange not having a paycheck
I will take on that problem any day :)
Hi Amon and Christina! My wife and I purchased your program in 2022 for the following year, right before I was diagnosed with stage 4 breast cancer. We fell off the program, but I still attended the meetups with my sister in Portugal and was able to meet you Amon. We have continued to pursue financial freedom through side hustles, and my wife was laid off about a month ago. Because of our hard work and you both serving as our role models, we did not have the terror many Americans can have. We decided to go all in. We are moving to my wife’s home town where we had previously purchased an investment property, and have our sights on moving to Spain within the next few years. My wife is really struggling with not getting a paycheck and last night we were discussing this. I turn on my CZcams this morning and this is the video you’ve published! Thank you so much. We can’t wait to be friends and neighbors with you all soon! 🙏🏽😅
This is dope! Sending love and healing to you and yours!🙏🏾💖
I retired the old fashioned way because my nobody in my family has FIRED. Listen to what he says. I don't know very many people who would rather work for other people, doing things they don't like to do, while they're getting older every day. Take control. I HIGHLY recommend this FIRE course bc I took it as well, even at my "already retired" age. Worth EVERY penny and no, this isn't a "paid commercial announcement". Bottom line: Learn how to make money (and time) from other's people's money (Stocks, Bonds, Investments, etc.). Make a realistic goal and stick to it. You can do it!
Three things to add to this great video: you also need a little luck, timing, and money on hand to take advantage of opportunities when they present themselves.
Sometimes the mental switches are the most difficult. All those years I put money INTO the investments, now I have to take money OUT. That's a big shift in expectations and behavior. Great advice about the shift in emergency fund thinking!
I can collect pension annuity a soon as 2 more years. I’ve also been putting aside money in a 457b account for over 20 years now. I’m ready to live off the fruit of my labor very soon.
You can still have a paycheck mentality and retire early. I have been working since I was 11 and retired at 25 but I still CHOOSE to work for a paycheck. Working isn’t the problem NEEDING to work versus WANTING to work is what people are struggling with.
If you want to retire early start working as early as humanly possible and don’t have kids if you’re not already financially stable. Never make any decisions that are rooted from emotions.
Amon and Christina! Since 2018, your channel has been a Sunday ritual for me. I look forward to your videos. I happened on one of your videos while taking a break from studying for a final exam in Nursing school. Thank you for taking the time to understand the needs of your audience... you both have inspired me on my journey to FIRE. Enjoy London, cheers. ❤
I think over-coming the idea that you ARE financially able to live your best life without a regular paycheck coming in.
I absolutely love the idea of the stock market emergency fund!
Same here
That’s a great idea. ❤
I really like this format. Another great video!
One of your better vids / topics in quite some time. Nicely done.
Love how you change things up with this format and really need to keep hearing these motivating messages on my multiple year journey to freedom on all levels ❤
Love the format of this video , interesting and informative
Man this is so dope!!! Keep it up with these kind of videos
Really enjoyed this video! Would like more content about shifting mindset (maybe from scarcity to abundance) for people closer to FI or have reached FI.
Been a fan for years. Really liking this candid format. Just breezy and to the point. Amon is soooo smooooth ...😎
Great topic. I think you’re understanding of your spending combined with your DIY mindset is a great basis of self reliance. It’s not just FIRE, it’s truly self reliance FIRE…knowledge is power. Your calm thoughtfulness stands out to me.👍
AGREED ‼️ Freedom is the goal 🙌🏼
Thanks for all your great information! 🎉😊❤
Love the Content! Thanks Raven
I love the format. Like podcast but very innovative. Pleasure to see you guys on Sunday, as usual.
+1 more of these
Great insight and inspiration
This video was on point, thank you for sharing your knowledge
This video is very timely. We were just discussing this topic this morning…as we are heading into retirement. Hubby in 2 years….me after that. We plan to live/travel abroad…Thank you!!!
great info guts. thanks for sharing
Yeah, what does true Freedom really feel like? Excellent! Video. Thanks Amon & Christina 💝💝💝💝
This is a GREAT format
Thank you, Amon and Christina!
Appreciated this discussion and the format. Would like to see more content like this, especially on mindset shifts.
So inspiring. Thanks for sharing.
Love the format, should do more of these! Would also love to see you touch on how to have abundance mindset once you have reached FI
I love sharing your content with my young adult sons (whom I've taught to invest since they were 5 & 7, lol) This is DEFINITELY one I'll be sharing. - Wishing you and your family a wonderful time in London; one of my favorite places!
Love this episode! Just what I needed to hear. I have reached FIRE but have decided to work 5 more years. I am single and have a very small family so I have decided to really grow my reserves and emergency fund as it may just be me in my older age.
Thanks for the video, great insight.
I needed to hear this.
*The Richest of ALLL the Journeys!! ALLLL the FIRE journeys!!! You're so right mehn. These checks ain't loyal!!*
I sincerely appreciate the videos both of you take the time and effort to put up for the benefit of the rest of us. I hope this is only the beginning of your rich journey with wonderful, surprising and exciting twist and turns to come. Wish you both, and your loved ones health, new perspectives, and incredible moments.
Excellent idea to make an interview as a frame for today's video!
And most important is the spot on message! The ultimate goal for everyone's life: (achieving) freedom!
Thank you Amon and Christina 😊
Thanks for this
Thank you and enjoy London ❤🙏🏽
Well done!! All the best to you both!
I’ve been following them for a long time and they are legit I love their content they are super knowledgeable
❤Great video and of of course the content was spot on.
Just found you (subscribed), and I'm very impressed!May God bless you and your family. ❤️
Powerful, inspiring thoughts. Videos like this refocus me and keep me going. Thank you.
FREEDOM! Yes indeed. I'm looking forward to it! 🧡💜
I can relate.... Greatly appreciate being in this position
This video is very refreshing.
Very important video 👌 I loved your idea of having a separate investment portfolio for reserve 🙏
This was soo dope to watch.
Nice video, thank you! Do you still reinvest your dividends?
SUCH an important topic.
Love this channel ❤
I just loooved this video! So different and spontaneous. I've been a subscriber even before you came to Portugal. It was so exciting to see that you were coming to live in my city! :) You're such an inspiration! I wish I'd bump into you here in Lisbon. Keep up the great work. ;)
As always, a very interesting topic. Thank you, guys.
What frequency do you recommend for withdrawals in FI? One a year, monthly?
Excellent!
That's a really great reminder interview, with an informal format!😊
Great video...
❤❤❤ thanks for sharing your experience. The idea of preparing for paying ourselves from the FIRE pot makes sense it takes time to adapt. 3 years near cash and other sources of income certainly de-risks the situation ❤
I just love how you both casually lay out the blueprint! It’s not easy by no means, but having a great head start on this form of investing and multiple streams of income is extremely achievable! I feel so behind & stunted, but now that I have the wealth of knowledge that you and others have shared along with my self study I figure my son can at least reach FIRE before 35! I appreciate you all so much and I cannot express it enough!
Once again another great video! The key is creating other ways of bringing in another income besides your job.Did you guys take the EuroStar train yet?
I like this video style.
Stubbled across this channel. Is there a video on 2-3 year emergency fund and the maintenance of such? Almost done with my student loans so that’s next. Nice and informative video
Thank you for these anxiety reducing gems bruh and sis🙏
Good evening from Lisbon!
Multiple non-correlated income streams that you understand their risks and how they work.👍👍
This was good.
Once again another great video. Did you guys take the EuroStar train yet?
Very good and informative. Want to fire like you guys and do slow travel.
Freedom Freedom Freedom! 🙌🏽
Hope you still come to Fábrica! We have another one in Leiria now 🎉
@ourrichjourney I hope you guys are okay with the inclement weather. Can you do a video on that, please?
this is why being a day trader is the best cause you can quickly scalp what you need for the day and be done. Day by day
How do you quantify the emergency fund? Is it a specific calculation?
Thanks
Great!
I’ve never listened to this guy before, but I’m impressed with his youth and knowledge level. Diversity in investing is a good thing as long as you develop a competency as well as an interest in each area. Otherwise your better off sticking to an area you know a lot about. Warren Buffet says, it’s not important how big your circle competence is but, what is important is that you know where the edges are.
I’m a stock investor and am probably a little two introverted to be a skilled house flipper.
It’s hard to get out of the payday mentality after cutting the cord with a steady paycheck. Especially after having an engrained saving mentality for so manny years. It’s better to be the boss of yourself and trust in bumpy profits than be a wage slave and be addicted to a drip of steady paychecks. It took me a long time to get used to not getting a steady paycheck. One day social security will give me one again. In the mean time ….I try and plan ahead and have some cash around.
what he says is very true
what if you get dividends/interests?
So, it's a mindset 🤔
Do you think you could have reached FIRE today with the cost of living crisis wondering if it’s harder now the way the world is, the 17,000 down payment and profit is outstanding just not sure it’s still possible interested to get your take?
Financial Freedom🙏🏽🙏🏽🙏🏽✅💯
I can't wait until the day I never have to worry about making money, period. Level up by gaining all the knowledge overtime and then pass on.
Hello! Do you know of any legit platform to receive royalty income in gas or energy?
And what if the stock market does crash?
Hi There
Cool
Also retires with 8 figures and loving it and i dont live in the USA ! Loving life
You guys really need to write a book? It would sell big time :).
Can anyone elaborate o. What F.I.R.E. is?
Is not as easy to save the much I want especially with paying tuition for three children in college as well as paying other bills.
I really love that freedom, but is not happening soon 😭
I dont even enjoy payday as much as the anticipation of it because all i think about is what bills i have to pay😢
Trying so hard to reach FIRE but I’m getting burnt out 😭
Look at hard assets that will protect your purchasing power for example gold and Bitcoin. Money in savings accounts will get destroyed by constant money printing which causes inflation. Do your own research.
Keep at it! You can do it! 🔥🔥🔥
Absolutely true! Great perspective... Love it
❤❤❤
Next video, interview her:)
Word.
Diversify Diversify Diversify
I'm 50 and broke. Is it to late for me?
No, start planning and open a Fidelity or Vanguard account Today, initiate your first transfer to fund the account. The initial funds transfer takes about 3 to 5 business days because of the account verification process. Sign up for the course to set you on the path for a better financial future. If you are 50, you can reach FIRE before you are"62". At the end of the day if you take the leap you will definitely be in a better financial situation than you would be if you did nothing and wait on your pension, ss and 401k/TSP. I promise that you will feel proud about actively investing in you and your future.
No. It's never too late to start saving and investing.
No… just start to invest as much as you can.
its never too late. open an account with $100 month. as you pay down debt increase your investments.
Yes
It's really hard for people to put down the crack pipe of a paycheck.