Why we need to tune out the financial noise in our lives. We explain how it creates FOMO and distracts us from our current plans.
Most importantly, we share practical advice for staying focused on your Financial Independence goals in a noisy world. Because true wealth includes following your own path and thinking for yourself.
(you can download the mp3 file here)
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HFSP!! Hilarious.
One day we will be Old Money. That’s good enough for me.
Yeah I was gobsmacked when we copped that! Haha one day? Seems like we’re already in that basket unless we’re playing along in the shenanigans 😉
Hi Dave,
Another great podcast, I remember years ago Clarke and Dawe, did news satire. Some of my favourites used to include some of the finance ones they did. My mind always reverts back to these when I hear finance noise.
These are my personal favs.
https://www.youtube.com/watch?v=I5QwKEwo4Bc
https://www.youtube.com/watch?v=KzrpqkoF3rU
Cheers Nat. Haha nice clips!
“The grumpy old men of the Aussie FIRE space”.
Once again Gen Y is all about me and Gen X is the forgotten generation! 😉
C’mon Dave, give credit where it’s due to the FI Explorer and myself!
Shhh… Aussie HIFIRE. It’s great being the silent generation. Let the Gen Y/Millennials and Boomers bicker among themselves. Lets keep flying under the radar.
Haha, I don’t even know which gen is which – it’s all a bit arbitrary and meaningless if you ask me. You gotta earn your grumpy old man badge mate, by ranting about the things that young people are doing 😉
Excellent stuff guys.
Despite the ‘noise’ I actually like watching the news at 6pm each day. I’d say most of it is wasted time and/or advertisements pretending to be news but it is a nice way to zone out while doing chores or preparing dinner for the kids etc.
Keep up the good work. The podcast is a great listen and I have learned a few good things from listening to you both.
Thanks! Oh yeah the news is a good time to zone out that’s for sure. I’m hoping you don’t do the same thing with our podcast 😉
Hi Dave and Pat.. I am Minu from Shepparton, Victoria.. I am just a silent subscriber who enjoys and looks forward to your blog and podcasts.. I am slowly on my way to FI which might take a few years. I am 34 years old with a young family. Thankyou for being an inspiration.. Would like to meet you and Pat and the like-minded FI enthusiasts some day.. Is there an event coming up at some point to meet you all? Keep up the good work..
Hi Minu, thanks for the support! There are no events that I know of planned, but if this changes we’ll be sure to make an announcement and let everyone know. As you might recall Pat’s in Sydney and I’m in Perth, so we’ve only actually met in person once 🙂
“Shhh… Aussie HIFIRE. It’s great being the silent generation. Let the Gen Y/Millennials and Boomers bicker among themselves.”
Being a Baby Boomer, the above comment by Christopher jolted me to the core. So much so I have decided to reverse my attitude. As a result, from now on I will cease taking the cash the SMSF generates from its investments and then transferring those funds to my adult children.
While this will deprive my children of a tax free income, I am sure all will agree it is a necessary action in order to maintain the generational and inter-generational stereotype plus it will enable me to at last “fit in” with my peers.
A big thank you to Christopher for the insight. My heart is now filled with joy.
Listening to this a year on is quite interesting. The GameStop saga hasn’t ended, and will be talked about for generations once it blows. The Reddit crowd has continued to conduct research into the inner workings of the financial market, and exposed massive underlying crime rife throughout the industry.
The basic thesis is that GameStop has been “naked shorted” beyond the true number of shares, and has now led to investors “direct registering” their shares. With CHESS sponsoring of shares here in Australia, we own our shares, but in the states you’re only ever recorded as a beneficial shareholder, which exposes your position to be lent out without your consent by your broker, among other things. What happens when the entire company’s shares are registered, and naked short positions are left exposed in brokerage accounts?
Interesting that you mentioned “companies can just create more of whatever they want”… market makers are literally doing this to artificially suppress the price of GameStop currently.
Check out the concept of the MOASS and the research being done over on Superstonk. Gamestop is currently at the lowest price it’s been at in a year; you could pick up a share on SelfWealth for under $200.
Sometimes in the pursuit of FIRE it’s worth looking at some of these options as a “shortcut”, or a bit of fun to keep things interesting along the way. In some cases it’s worth learning more about them as a hedge to protect the rest of your portfolio, especially if they’re detached from the rest of the market.