3 things that make FIRE hard

These days I hardly ever think about money. It is quite the contrast from before when I’d check in on the stock market every day, do back-of-the-napkin math on investment opportunities, and follow the Federal Reserve for macroeconomic movements like a hawk. But after some reflection, I must admit that I am a little stuck in my progression towards FIRE. In this blog post, I want to share the 3 challenges all FIRE people go through and how one of them currently has me in a pickle. Are you ready? Standby. (FIRE update at the end)

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2023 year in review - top 6 highlights

2023 was a fantastic year for people who held on to their stocks–up ~25% for the year. Despite interest rates, the cost of housing, and the cost of cars still being high, it was an overall good year for investors. As long as you were in crypto, bonds, or stocks it was pretty hard to have lost money. In this post, I will go over some of the highlights of my year. Are you ready? Standby.

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5 Tips on how to get promoted in a big company

Over the last 8 years as a manager of engineers and having been in hundreds of conversations about promotion candidates, I have learned that there is a huge disconnect between employee expectations and reality. Specifically, there is a gap in understanding of the employee’s role in the promotion process vs their manager, of the employee’s impact vs how hard they work, and of the employee’s behaviors vs how they are perceived by others. If you are frustrated about your lack of promotion or just want to learn how the sausage is made, this post is for you. Are you ready? Standby.

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Is $4,000,000 still a good FIRE number?

4 years ago when I started MyRoadToFire I got a good amount of readers because the FIRE community was defining fatFIRE as having a net worth of $2,500,000 but I, and many of you, believed that to be too low. In 2019, I strongly believed that having $4 million would comfortably allow a family to FIRE. Fast forward to the end of 2023, I strongly believe that having only $4 million would be extremely risky for that same family to FIRE. So was I wrong? As one of my most annoying managers used to say “yes and no.”

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Stock market is back to near all-time highs

It’s been 6 months since my last post and a lot of positive things have happened at the macro level. Inflation went from 6.0% in Feb 2023 to 3% in June 2023. The S&P 500 index rose 14%, FB up 121%, TSLA up 60%, MSFT up 39%, AAPL up 37%, GOOG up 36%, and AMZN up 31%. These are all significant gains and it makes me wonder if I should continue my long breaks in blogging to keep this streak going.

But I cannot not blog about my personal update tonight because I’ve reached another personal milestone. Are you ready? Standby.

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3 Ways I Might make money in 2023

For many, 2022 was a disaster year. Especially for me. I was set back by $1.84 million–yikes! Many people believe we still haven’t hit bottom yet and even fewer people believe that we will recover to 2021 levels in 2023. My prediction is that SP 500 will continue to hover around 3800-4200, mortgage rates will continue to hover around 6%, residential real estate prices will drop, but tech stocks will boom. Based on those predictions there are 3 areas I want to put my money to earn a positive return in 2023. Are you ready? Standby.

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Time to Retire? – Winter of 2022

8 years ago when I put pen to paper, I had marked the Winter of 2022 as my target date to retire. Like most multi-year estimations, I was wrong. 8 years ago I did not have a wife. I did not have 3 kids. I did not own a house. And I understood very little about personal finance. In this post, I will talk about how far off I think my estimation was and the lessons that I’ve learned as a result. Are you ready? Standby.

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The American Dream - Episode #1

I started this blog almost 3 years ago with the goal of sharing my personal finance story with the world. I took the dive not knowing if people will care, or worse, feel resentment towards my success. But through this blog, I’ve reunited with some old friends and I’ve been introduced to new ones. We all share the same optimism around our own personal financial success. Additionally, I’ve had the pleasure to sit down with some people to listen to their stories and understand how they have achieved the American Dream. It’s very humbling to learn about their unique challenges and how they’ve overcome them. These are the exact stories that are missing from today’s mainstream media but are silently happening every day.

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Sept 2022 FIRE Update: We moved to Texas!

Today is my last day of paternity leave. I can’t believe it’s only been 4.5 months–surprisingly it feels much longer. In the last 4 months, we invited the 5th member into our house, moved our family down to Texas, went to urgent care multiple times, changed sleep configurations 10+ times, and saw my net worth increase by at least half a million only to see it dissipate in the last week. In this post, I will talk about my FIRE update, my experience moving to Texas, and share a little bit about the cost of living in North Dallas. Are you ready? Standby.

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10 ways to succeed as an employee (Part III of III)

Several months ago I was delivering what may be my last downward feedback to the engineers on my team. At my company, we go through a lengthy process of 360 feedback and several rounds of calibrating with other managers to ensure fairness. And as I reflect back on my 6 years of being a people manager, there are qualities of employees that are more highly rewarded than others. Unfortunately, the hierarchy of importance of those qualities aren’t known to most people. In this article, I will talk about 4 of the top 10 ways I believe will make you a successful employee at a big company, especially if you’re still young in your career. Are you ready? Standby.

In case you missed it, you can find the other 6 ways in Part I and Part II.

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10 ways to succeed as an employee (Part II of III)

Just 2 months ago I was delivering what may be my last downward feedback to the engineers on my team. At my company, we go through a lengthy process of 360 feedback and several rounds of calibrating with other managers to ensure fairness. And as I reflect back on my 6 years of being a people manager, there are qualities of employees that are more highly rewarded than others. In this 3-part blog series, I will break down the behaviors that are needed at different stages of your career in a big company. This is part II of a III part series. In Part II, I will cover 3 more behaviors and skills needed to excel after showing some success at your job. You can find Part I here. Are you ready? Standby.

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10 ways to succeed as an employee (Part I of III)

Just 2 months ago I was delivering what may be my last downward feedback to the engineers on my team. At my company, we go through a lengthy process of 360 feedback and several rounds of calibrating with other managers to ensure fairness. And as I reflect back on my 6 years of being a people manager, there are qualities of employees that are more highly rewarded than others. Unfortunately, the hierarchy of importance of those qualities aren’t known to most people. In this article, I will talk about 3 of the top 10 ways I believe will make you a successful employee at a big company, especially if you’re still young in your career. Are you ready? Standby.

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Quick 2022 Life Update

It’s been a while since I last posted and a lot has happened since. On the macro level, the stock market almost went into a bear market (defined as -20%) since the start of the year, Russia-Ukraine war started, home mortgage rates went from 3% to 5%, and baby formula cannot be found in some cities. On a personal level, my family finally caught COVID, my new home construction has been delayed by 4 months, I went through a re-org at work, I sold a ton of stock, I lost over $1,000,000 in portfolio value, I paid my $85K tax bill (not a typo), and I am now a father of 3 boys. In this blog, I’ll expand on my $1,000,000 loss, why I’m not concerned for myself, why I’m concerned for the bottom 90%, and what my plan is for the next 12 months.

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5 reasons why it’s hard to retire early after reaching Financial Independence

I thought that when I hit my $4,000,000 FI number, I would immediately hand in my resignation letter and pack my bags the next day. After all, I’ll be financially independent. I’ll have enough f-you money to do whatever I want. Why would I care what my employer has to say? Well, I reached my FIRE number in the middle of 2021 and I’m still working 9 months later. Over the last year, as I quickly approached my FIRE number I learned a great deal on what it takes to retire early. I’ve been overly focused on achieving FI and it came so fast, that I was left ill-prepared to RE. In this post, I’ll outline 5 of the difficulties that I’m currently going through and why I haven’t been able to throw in that resignation letter…yet. Are you ready? Standby.

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FREE Financial Coaching from Road to FIRE

Do you and your spouse make more than $150K a year? If so, I am offering free financial coaching to you! I know that personal finance is hard but there’s no reason why you need to do it alone. Your traditional Financial Advisors will not know how aggressive you need to be in order to achieve FIRE or have the proper experience to coach you through difficult financial decisions while still prioritizing FIRE.

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Momma, I did it!

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8 years ago when I officially started my road to FIRE, I didn’t know what to expect. I can’t say that I truly believed it was achievable before 50 years old. And by “it” I mean amassing $5 million in net worth. If memory serves me, the original plan was $5 million by 45 years old. I remember telling my mom about this ridiculous plan to retire early. She didn’t give me much of a reaction. Kind of like when you told your parents you were going to the NBA in middle school or that you were going to be the President of the United States. It’s how parents react when they don’t want to bust their kid’s unrealistic dreams.

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5 things you should practice to become a multi-millionaire

Have you ever wondered what it takes to become a self-made multi-millionaire? Or does it feel too distant that it’s just a dream? Is the American Dream dead for millennials and Gen Zers? Unquestionably, the world is rapidly changing, and our generation is left to navigate it with very little guidance. The jobs that our parents’ generations did to become rich most likely won’t make our generation rich. With that said, I strongly believe that the American Dream is still alive and that the recipe for success is a set of behaviors, not a set of instructions. My family came to America in the late 1980s as refugees, and in one generation have been able to go from the bottom 5% to the top 1%. In this article, I will distill it down to the 5 behaviors, with examples, that I believe is the foundation for financial and career success.

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Road to $1,000,000 portfolio (series) - Part 1

In this series, which I’ll call “Road to $1,000,000”, I will be constructing a portfolio that is more aggressive but still mainly grounded in dividend aristocrats. At the beginning of last year, I set out to run a $77,000 experiment where I only invested in dividend aristocrat stocks. After some consideration, I will be reusing that same account in order to build up a $1,000,000 portfolio alongside the rest of you! To help me get there quicker, I have also decided to double my weekly contributions from $1,000 to $2,000. The rest of this post will be focusing on what is in my new portfolio, how long I think it’ll take until this portfolio grows to be $1,000,000, and some exciting news on where I’m at on my road to FIRE. I promise there is no April Fools joke in here. Are you ready? Standby.

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7 best money decisions

On my road to FIRE, I’ve had to make a handful of big decisions that have had a material impact on my net worth. As I reflect, there are a set of decisions that were pure luck and others that were calculated. Regardless of intentional or not, they have significantly contributed or enabled my net worth to be where it is today. As I list out the big money decisions, I’ll try my best to be specific about the numbers. Are you ready? Standby.

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