In 2013, Scott and Mindy embarked on their financial independence journey. Scott was fresh out of college, while Mindy and her husband were well on their way to FIRE, documenting their progress on their blog, 1,500 Days. A decade later, in 2024, they reflect on what they might change if starting anew. While the fundamentals of frugality, saving, and investing remain intact, they share major tactical adjustments and even some spending regrets.
Key Takeaways:
- Fundamentals Vs. Tactics: Scott and Mindy emphasize the timeless importance of low expenses, high income, and accumulating cash. However, they acknowledge the need for different tactics in today’s market.
- Investment Strategies: Scott prioritizes liquidity over retirement accounts initially, focusing on live-in flips and short-term rentals. Mindy leans towards index funds over individual stocks, setting aside a portion for FANG stocks and A DU construction for live-in flips.
- Lifestyle Changes: While Scott feels content with his frugal living, Mindy expresses regret over forgoing experiences for savings, longing for more balance in hindsight.
In conclusion, the journey to financial independence is adaptable yet rooted in consistent principles. Investments like real estate, stocks, or businesses vary based on personal preferences and market conditions. Diversification is key, emphasizing growth assets for long-term wealth accumulation. The road to financial freedom is unique to each individual, but the core principles remain unwavering.
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