Just spent a few hours half way watching the Monday Night Football game and surfing the internet looking at financial articles.
Then I stumbled across this article on Fox business that made me do a spit take. Millennials turn to extreme saving method to retire early
This article explains the F.I.R.E. strategy and brings in their "expert" who totally shits on the idea. Here's the quote that I could not unsee...
F.I.R.E. drew criticism from FOX Business’ Kristina Partsinevelos.
“I think this strategy won't work because, in the past, from 2009 to 2012 — great period to invest in, risky stocks going forward — you can't really make as much of a gain," Parsinevelos said. “This is predicted by BlackRock; a lot of investment funds, so I'm not sure it's the right strategy.”
You have got to be shitting me.
Risky stocks? You don't buy shares to look for equity gain when doing the F.I.R.E. thing. You buy shares to earn dividends and hold onto forever. You still make the dividends even though the market slows. It's a defense against a recession. As long as the company is financially strong (and most Dividend Champions and Aristocrats are on very solid footing), your dividend will keep on paying out, even if the price drops by 20% or more......
Ms. Partsinevelos has no clues as to what she is talking about.
The biggest risk to F.I.R.E. is massive inflation. It would drive many back to work.
It actually made me wonder if she is just promoting the corporate slave strategy - work until you can't work anymore and then hopefully have enough saved to not outlive it.
Well, I strongly disagree.
Live frugally, buy dividend growth stocks of strong companies, earn dividends. Never sell them. Lather, rinse , repeat.
Have a kid and pass the shares to them. Build generational wealth.
But why am I surprised? This is Fox New after all....
Just look at her instagram and that tells you everything you need to know about the moron.
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