I’m sure anyone who has found the FIRE community on Lemmy doesn’t need any assistance with “buy index, don’t sell it”, so what are some other interesting topics?
Has anyone spread the good word of St. Jack Bogle and/or FIRE to friends/family? My work colleagues picked it up very easily (they make the same amount of money as I do), but a lot of my friends are in debt or make so little salary that they’d have to put all their discretionary income away to start investing. My parents have had a lifetime of bad financial decisions and they’re close to being forced out of working by their age, so I’ve taken over their finances a bit but there’s not much I can do with the aftermath.
I mostly feel bad for being in such a fortunate position that I’m making fistfuls of cash while my close friends can barely afford their rent. I’d like to help them but I don’t know how because the only strategy that I use is not possible for them.
When I met my spouse, they were firmly entrenched in the idea that they would have to work forever, despite having a good job and having frugal habits. I was able to introduce them to the concept of retiring early, and got them to max out their tax advantaged accounts. They do tend to lean towards much more risky investments than I would, but at least they are mostly on the right path. Now they dream of retiring to a hobby of flipping stuff they find on Facebook.
I don’t really share my investment philosophy with others though. With people who don’t make as much, it could come across as bragging or rubbing their face in it. I’d rather just be a moral support for when they are struggling. If someone asks for advice, then I’m super open with what my philosophy is for my money.
I’m not proselytizing FIRE, though I’ve helped family with some general retirement and financial advice. I tried and failed to get my brother to open a retirement account a decade ago when he started working. I think he just now opened one. I did manage to get him to open 529s for his kids by being relentlessly annoying and mentioning that I’d love to make some contributions.
Otherwise I mostly keep my mouth shut about money. I make more than most people I know and any advice I’d give would be out of touch at best.
I’m sure anyone who has found the FIRE community on Lemmy doesn’t need any assistance with “buy index, don’t sell it”, so what are some other interesting topics?
Has anyone spread the good word of St. Jack Bogle and/or FIRE to friends/family? My work colleagues picked it up very easily (they make the same amount of money as I do), but a lot of my friends are in debt or make so little salary that they’d have to put all their discretionary income away to start investing. My parents have had a lifetime of bad financial decisions and they’re close to being forced out of working by their age, so I’ve taken over their finances a bit but there’s not much I can do with the aftermath.
I mostly feel bad for being in such a fortunate position that I’m making fistfuls of cash while my close friends can barely afford their rent. I’d like to help them but I don’t know how because the only strategy that I use is not possible for them.
When I met my spouse, they were firmly entrenched in the idea that they would have to work forever, despite having a good job and having frugal habits. I was able to introduce them to the concept of retiring early, and got them to max out their tax advantaged accounts. They do tend to lean towards much more risky investments than I would, but at least they are mostly on the right path. Now they dream of retiring to a hobby of flipping stuff they find on Facebook.
I don’t really share my investment philosophy with others though. With people who don’t make as much, it could come across as bragging or rubbing their face in it. I’d rather just be a moral support for when they are struggling. If someone asks for advice, then I’m super open with what my philosophy is for my money.
I’m not proselytizing FIRE, though I’ve helped family with some general retirement and financial advice. I tried and failed to get my brother to open a retirement account a decade ago when he started working. I think he just now opened one. I did manage to get him to open 529s for his kids by being relentlessly annoying and mentioning that I’d love to make some contributions.
Otherwise I mostly keep my mouth shut about money. I make more than most people I know and any advice I’d give would be out of touch at best.