Grand Rounds: Money On Your Mind
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Welcome to this session of grand rounds, a collection of posts I have discovered in the blogosphere and have found of interest and hope you do too.
This offering of Grand Rounds looks at articles from around the web that deal with some of the psychological aspects of finance.
The RE component of FIRE may not be for everyone as some people truly love what they do and achieving financial independence will not lesson their desire to continue working.
However for those that do wish to retire early, reaching financial independence does not necessarily mean you will now live on easy street with not a care in the world.
The transition from W2 worker to retiree is quite dramatic and carries with it a lot of emotional issues.
Danny Ratliff, of Real Investment Advice, shares some great tips on how to make this transition goes as smooth as possible with, “The Psychological Side Of Retirement.”
We see photos all over social media as people try to outdo each other in the game of who has the most expensive accessories.
It is as if putting on one of these high end pieces is supposed to magically transform you into some debonair individual.
Well Dennis Green shatters that myth in a Business Insider article, “What Wearing A $6000 Rolex For A Month Taught A 24 Year Old About Wealth And Status.”
Too often we equate success with money.
However money does not automatically bring happiness into your life.
If it did, we would not here of multiple celebrities committing suicide each year.
And if you are not happy, would you consider yourself successful?
Grant Sabatier, of Millennial Money, drives home this point in, “Success Isn’t About Money, It’s About Peace.”
The term, “Side Hustle” has definitely been a buzzword of late.
Doctors dissatisfied with their primary gig turn to side gigs that hopefully improve their finances and possibly let them leave medicine altogether.
However it is more than just monetary benefit that is achieved with a side hustle.
Dr. McFrugal speaks of one such benefit in, “How Having Side Hustles Can Increase Your Fluid Intelligence.”
When you are on your deathbed I doubt you will find solace in how large your nest egg was in your prime or how much income you made in a given year.
I instead hope for you, and me, that you will be surrounded by loved ones, reminiscing about the good old days and sharing memories of experiences that have brought you closer together.
In our youth we are often too preoccupied about spending to impress rather than actually spending quality time with our loved ones.
Loonie Doc shares with us some important pearls of wisdom why this needs to change in, “Spending Wisely And FIRE – Lessons From My Patients.”
Hope you enjoyed the reading material.
Have a great rest of the week.
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