With my September monthly update (Recession Prediction and the Media) getting some good feedback, I thought about utilizing a similar format of referencing material I found interesting on relevant topics.
But first, as this is a monthly update itself, let’s give some brief updates.
My cryptocurrency portfolio was bleeding slowly throughout the month so I didn’t resist the urge to buy some more, the S&P 500 reached all-time-high again and I DCA-ed (past tense of DCA :)) as usual, and the P2P loans kept yielding steady returns.
In case you want to see the platforms I use and get bonuses by signing up to a few, visit the following page:
With that out of the way, I compiled a list of a few videos which my readers should find interesting.
Leave them a “MonkWealth sent me here” if that’s the case.
Financial Independence
Let’s warm up with this short video from jlcollinsnh‘s slightly modified version of a scene from The Gambler.
Always remember the importance of having FU money.
That’s what represents power, freedom, and leverage in the framework we live in and nothing comes close.
Okay, now the longer videos. While still in the FIRE subsection, I watched a really nice talk I like to share with people interested in financial independence.
Full disclosure: in general, I dislike TED talks. I consider them shallow and hipster. This one resonated with me on a certain level though. I’m getting emotional while watching certain parts. It’s a great video to show to people who are yet to understand FIRE as she doesn’t dive deep in the technicalities, but also a great watch for us, walking steadily on our paths.
I really like the idea of mini-retirements she’s talking about. Also stumbled upon a version of it in The Four Hour Work Week – a highly recommended read if you still haven’t done it. The question “What’s the worst that can happen?” is something I’m including in decision making processes to this day. But I won’t spoil the book by revealing more.
Maybe how we see and approach “mini-retirements” is not 100% aligned between each author, but the idea of not having FIRE as an end goal but having the FU money to jump in and out of the workforce at your own leisure is a concept I’ve explored and plan to utilize eventually.
It’s an idea I’ll write about in the future for sure!
Let me just scratch the surface here: assuming a 4% withdrawal rate, every 1000$ you earn per year is 25000$ less you need in your portfolio in order to retire early. If you don’t see why, don’t worry – I’ll break it down in another post. Take it as given for now, and if you trust me, you might evaluate it yourself and adopt a similar mindset. Until then, subscribe in the box below so you don’t miss any of my next posts:
Economy
Now is the time when we move away from personal level to a larger scale. In the following video from Peter Schiff on the Joe Rogan podcast we’ll have the chance to see the things from a macroeconomic / state governance perspective.
He tackles various topics that I’ve also touched on MonkWealth such as taxes, the job market, minimum wage, supply and demand, capitalism in general, etc. It can be an eye opener for socialists and people on the fence.
It’s a part of a podcast, so you can listen to it while driving to work or doing other mundane tasks as well.
I have more to share from Schiff, but I’ll keep those for the future. I also have tens of pro-capitalist videos I’d like to share, but let’s not throw them all out at once.
Beyond FIRE and economics
Okay… This section represents why I thought about publishing a post like this.
What you’ll find below is a 4 video series you need to watch.
It is a story which, if you know nothing about McAfee, will produce a gradation of WTFs, especially in the moments when you think it can’t go any further.
This is a level that comes after FIRE and the economy.
Literally – what we consider FIRE happens 5 minutes into the first video…
But don’t let me spoil the experience… See for yourself.
Enjoy!
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