This is Journal Club 05/14/21! I organize a JOURNAL CLUB every week. After filtering through the articles on the web, I present some that have influenced my life this week. Be safe and stay healthy!
We all have our own financial desires – what financial freedom looks like for each of them. For you, this can mean traveling full-time, living debt free, or paying for your child’s college in cash. The wealthy doc discusses how to meet your financial needs in this blog post. Passionate about finance and investing for decades, he always advises readers to make financial decisions based on what their financial plan tells them to be. So if you are ready to meet your financial needs, this article is for you.
Speaking of financial desires, the FIRE movement has gained tremendous popularity over the years. In the process, some myths and misconceptions about what it means have surfaced. Too many people make assumptions about what the FIRE movement is and what it is made of. JD Roth debunks several myths and misconceptions about financial independence and early retirement In this article. If you read it you may find that what you believed to be true for the FIRE movement turns out to be a common misunderstanding.
When it comes to early retirement, increasing your net worth is a big part of preparing for early retirement. One common way our readers grow their wealth is by generating passive income. You guessed it. Invest real estate! SemiretiredMD explains how you can grow your money by growing your wealth through real estate investments In this article.
Chief Mom Officer has coined a new term, Re-FIRE-Ment. It may be entirely fictional, but in this article she encourages readers to keep their expenses as low as possible while keeping their income as high as possible – even if they can’t (or don’t want to) retire early. In doing so, she says, you give yourself options. Options to send your kids off to college, start scholarships, take on more meaningful work, or just feel financially secure. For more information on Re-FIRE-ment, see this article.
That’s it for this week! Hope Journal Club 5/14/21 has been helpful to you.
Finally, a little motivation. Have fun and a nice weekend!