Financial Freedom | Dark Secret of Compounding | FIRED Episode 1
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Financial Freedom | Dark Secret
Financial Freedom | Dark Secret of Power of Compounding | Fired Episode 1
Early-bird discount on our course: https://forms.gle/6UZb3WLhdbMY6PWt5
Our other YouTube channels:
✔ @investinyourmindset
✔ @mowsin8
✔ We have a new Telegram group. Join it here: https://telegram.me/investmindsetTG
Our Instagram: Instagram: investmindset
Our Twitter: Twitter: invest_mindset
✔ Open a New Demat Account to buy and trade stocks: https://paytmmoney.onelink.me/9L59/xw...
This is the first video of the FIRED Youtube series - Financial independence and Retire Early with Dividends by Invest Mindset.
In this video, we talk about the negative power of compounding - that is debt or loan which most people take to look rich. As Albert Einstein said, Compound interest is the 8th wonder of the world. He who understands it, earns it. He who doesn't will pay for it.
No doubt, the power of compounding works like magic and helps you get rich fast from stock market and achieve financial freedom fast. However, if you go against the power of compounding, you end up in a debt trap. You'll understand the secret of rich people as how rich people get even richer and the poor become poorer. The difference between rich vs poor is becoming bigger and bigger with time. All thanks to the debt trap.
The word FIRED comes from FIRE. So let's understand FIRE first.
FIRE is an early retirement plan that’s geared towards allowing you to make the most of not just your sunset years but also your middle years - think 40s.
One of life’s most important lessons that most of us learn early on is that the concept of a free lunch is non-existent. With the FIRE movement, though, you are provided with the means to stretch yourself early on such that you can enjoy a longer period of retirement wherein you don’t have to work. Or, in some cases, do jobs that don’t pay very well but are fun to do.
Here we will cover all that this early retirement plan entails and the movement that it brought about.
The FIRE Movement
The acronym FIRE stands for ‘Financially Independent to Retire Early’. Under the FIRE movement, a number of people have begun working towards a single goal. This goal sees them saving enough money to retire several decades (while they’re in their 30s, 40s, or even 50s) before the usual retirement age.
This movement brings with it the promise of flexibility and freedom, provided you act with discipline and are determined at an early age. If you wish to become part of this movement, you would be expected to save aggressively and direct a major portion of your income towards investments.
The FIRE movement gained credence once the 1992 book titled Your Money or Your Life by Vicki Robin and Joe Dominguez became a best-seller and inspired thousands.
Watch our other important videos:
Magic of Dividends for Financial Freedom:
Power of DIVIDENDS for FINANCIAL FREE...
POWER OF COMPOUNDING in Investing:
POWER of COMPOUNDING
Regular Income from Stocks - Dividend Investing for Beginners:
Regular Income from Stocks | Dividend...
Best Way To Invest in 20s (Old Video):
Best Way to Invest In Your 20s | MAGI...
How to Think in Your 20s (Old Video):
How to THINK in Your 20s | RICH MINDS...
Early-bird discount on our course: https://forms.gle/6UZb3WLhdbMY6PWt5
Our other YouTube channels:
✔ @investinyourmindset
✔ @mowsin8
✔ We have a new Telegram group. Join it here: https://telegram.me/investmindsetTG
Our Instagram: Instagram: investmindset
Our Twitter: Twitter: invest_mindset
✔ Open a New Demat Account to buy and trade stocks: https://paytmmoney.onelink.me/9L59/xw...
This is the first video of the FIRED Youtube series - Financial independence and Retire Early with Dividends by Invest Mindset.
In this video, we talk about the negative power of compounding - that is debt or loan which most people take to look rich. As Albert Einstein said, Compound interest is the 8th wonder of the world. He who understands it, earns it. He who doesn't will pay for it.
No doubt, the power of compounding works like magic and helps you get rich fast from stock market and achieve financial freedom fast. However, if you go against the power of compounding, you end up in a debt trap. You'll understand the secret of rich people as how rich people get even richer and the poor become poorer. The difference between rich vs poor is becoming bigger and bigger with time. All thanks to the debt trap.
The word FIRED comes from FIRE. So let's understand FIRE first.
FIRE is an early retirement plan that’s geared towards allowing you to make the most of not just your sunset years but also your middle years - think 40s.
One of life’s most important lessons that most of us learn early on is that the concept of a free lunch is non-existent. With the FIRE movement, though, you are provided with the means to stretch yourself early on such that you can enjoy a longer period of retirement wherein you don’t have to work. Or, in some cases, do jobs that don’t pay very well but are fun to do.
Here we will cover all that this early retirement plan entails and the movement that it brought about.
The FIRE Movement
The acronym FIRE stands for ‘Financially Independent to Retire Early’. Under the FIRE movement, a number of people have begun working towards a single goal. This goal sees them saving enough money to retire several decades (while they’re in their 30s, 40s, or even 50s) before the usual retirement age.
This movement brings with it the promise of flexibility and freedom, provided you act with discipline and are determined at an early age. If you wish to become part of this movement, you would be expected to save aggressively and direct a major portion of your income towards investments.
The FIRE movement gained credence once the 1992 book titled Your Money or Your Life by Vicki Robin and Joe Dominguez became a best-seller and inspired thousands.
Watch our other important videos:
Magic of Dividends for Financial Freedom:
Power of DIVIDENDS for FINANCIAL FREE...
POWER OF COMPOUNDING in Investing:
POWER of COMPOUNDING
Regular Income from Stocks - Dividend Investing for Beginners:
Regular Income from Stocks | Dividend...
Best Way To Invest in 20s (Old Video):
Best Way to Invest In Your 20s | MAGI...
How to Think in Your 20s (Old Video):
How to THINK in Your 20s | RICH MINDS...
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