Author Topic: what are the *Strategies of FIRE celebrities* ... ?  (Read 1125 times)

shortduck

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what are the *Strategies of FIRE celebrities* ... ?
« on: March 23, 2020, 02:46:24 PM »
Hello All,

I am looking for some blog posts/podcast etc. to see how and what are *heros* doing at this time of extreme market crash.

e.g. Christy (@ Quit like a millionaire), or MMM, or JL Collins.

I know that everyone says about the safety net, but I really want to see that in action. Since this is the actual test and not theory anymore.

Please reply on the thread and thanks for your time.

vand

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #1 on: March 23, 2020, 02:55:04 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

BicycleB

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #2 on: March 23, 2020, 03:32:54 PM »
Well put, @vand!

MMM's strategy is clear. Post a couple of tweets and article (these are already posted, so there's evidence), earn $ from website links and ads, invest in index funds.

More broadly - have skills, stay healthy and active, LBYM.

lhamo

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #3 on: March 23, 2020, 05:06:45 PM »
Brandon (the Mad Fientist) recently posted his third interview with Jim Collins. Basically they are both fine/not panicking.

Buffaloski Boris

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #4 on: March 23, 2020, 05:07:23 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

+1.

shortduck

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #5 on: March 23, 2020, 05:25:26 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

If this is so, then what should an average already FI Joe do ?

vand

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #6 on: March 23, 2020, 06:03:26 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

If this is so, then what should an average already FI Joe do ?

They can pick their nose and do whatever they want.. isn't that the whole point of FI?

Captain Cactus

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #7 on: March 23, 2020, 06:07:59 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

The bloggers, or celebrities as you call them, are doing a wonderful job selling you a dream.  Itís a dream that can come true though, so...

The bloggers are selling YOU too, or at least your readership.  The more readers/listeners they have consuming their stuff, the more they earn from advertising, affiliate links, etc...

I think itís brilliant... they write interesting content that I get for free...and they get paid by the advertisements.

BicycleB

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #8 on: March 23, 2020, 06:14:39 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

If this is so, then what should an average already FI Joe do ?

Rebalance when their Investing Policy Statement says so!

https://forum.mrmoneymustache.com/investor-alley/investment-policy-statements/
https://forum.mrmoneymustache.com/investor-alley/what-is-your-sweet-n-short-ips-(investment-policy-statement)/

Lots of us don't have a real one, me among them, but I think they're a very good practice. My unwritten one is to shoot for keeping financial assets balanced 70% stock 30% bonds, and rebalance no more often than once every three months. When the Corona Crash began, I hadn't rebalanced in a while, but after a week, I rebalanced. Basically I sold a couple thousand dollars of bond index fund and bought a couple thousand dollars of stock index fund to get comfortingly close to 70/30. In early June, probably rebalance again.

Hopefully the FIRE celebrities will also follow their IPS.
« Last Edit: March 23, 2020, 06:17:00 PM by BicycleB »

spartana

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #9 on: March 24, 2020, 02:29:33 PM »
I think their strategy is to have a nice little side-hustle being a celebrity :)

If this is so, then what should an average already FI Joe do ?

They can pick their nose and do whatever they want.. isn't that the whole point of FI?
This. Not doing anything really. Keep expenses low, leave investments alone, have a decent sized EF and ride it out enjoying the non-working life. It can be pretty sweet if you don't need or want much. Did this in the great recession post-FIRE and doing it again now. No nose picking allowed though cause...yuck... and viruses.

bacchi

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #10 on: March 24, 2020, 02:33:47 PM »
You can pick your nose, you can pick your friends, but you can't wipe your friends on the couch.

SeattleCPA

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #11 on: March 24, 2020, 08:11:19 PM »
Not a "FIRE" celebrity... never was a fan of JL Collins "100% stocks" argument... and I write and work with entrepreneurs.

But here are my thoughts which intersect with portfolio construction:

https://evergreensmallbusiness.com/small-business-corona-virus-crisis-survival-guide/

SwordGuy

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #12 on: March 24, 2020, 09:45:02 PM »
We're no FIRE celebrities, but we're doing exactly what we were doing before this.

soccerluvof4

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #13 on: March 26, 2020, 08:21:38 AM »
We're no FIRE celebrities, but we're doing exactly what we were doing before this.


This +1 and re-balancing as it seems fit

lhamo

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Re: what are the *Strategies of FIRE celebrities* ... ?
« Reply #14 on: March 27, 2020, 08:57:44 AM »
DH finally started investing the money he has had sitting in a rollover IRA since last summer.  Got that in just before the bounce.

We gave our DS an early graduation gift of 12k with the condition that he invest an equal sum in a Roth (he has already earned a decent amount with a tech internship and RA position). 

We are not the FIREd famous but we are, apparently, dirty market timers....