The stock market’s downturn could mean a painful unwinding of the FIRE movement

[aboatguy]

https://www.msn.com/en-us/money/savingandinvesting/the-stock-market’s-downturn-could-mean-a-painful-unwinding-of-the-fire-movement/ar-BBR8Nnx?ocid=spartanntp

Sam Dogen of the Financial Samurai blog seems to be very pessemistic.
This  downturn will not affect my fire plans and I'm cutting the cord in  2019.

I hope that folks don't fall for the sky is falling hype.

Mike

   

[ketchup]

Stock market drops a bit, people lose their minds.  Water still wet, puppies still cute.

[WhiteTrashCash]

What the Hell is the author of that article talking about? Stocks just became greatly discounted. FIRE became even more of a reality this month.

[LAGuy]

I read his blog, and enjoy it, but the topics are really geared more towards an upper middle class early retirement. Things like, how to provide private schooling and an Ivy league education for the kiddies, how much needed to retire to a single family dwelling in San Francisco or New York, and when is the best time to buy that 2nd home beach front property in Honolulu.

Edit: he's also always been very pessimistic. Or it would be better said that he's very conservative in his investing philosophy. He prefers real estate, only begrudgingly allocates a small amount of his NW to stocks, and tends to be (IMHO) overly complicated with his investment allocations, likely due to his background in the finance industry. Plus, he's "won the game" awhile ago. Why be aggressive in your investment in that situation? He's kind of like a less annoying version of Suze Orman.

[tralfamadorian]

There's a discussion already going on about this article when marketwatch picked it up here.

[DreamFIRE]

Stocks have been overvalued, so there's no surprise here to see them return to more realistic valuations.

It's not the end of the world nor does it mean delaying FIRE forever.

Since the high in Sept, I've only lost about 3 1/2 years worth of retirement stash.

[EscapeVelocity2020]

Apparently Sam is having his Suze Orman meltdown moment.  He watches the markets much more closely than most people (since he was formerly in the business), has a lot more assets that wildly fluctuate in value, and 'retired' young and seems to enjoy provoking controversy with his blogging.  He's also put up posts about marrying into FI and inheriting wealth as being 'great' strategies.