#481: Building Financial Independence Beyond the Stock Market

The Art of Manliness

Society & Culture, Education, Philosophy

4.7 • 14.5K Ratings

🗓️ 11 February 2019

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Financial independence is a goal for a lot of folks. But what does it take to get there? My guest today explores that question on his website, Financial Samurai. His name is Sam Dogen, and before writing about money online, he worked in finance. We begin our conversation discussing how his career in equities shaped his personal finance philosophy and made him leery of putting too much wealth in the stock market. Sam shares why he recommends putting a lower percentage of your money in stocks than is often recommended in mainstream finance advice, how that percentage should shift as you get older, and alternative ways to invest, build your wealth, and create multiple streams of income that will give you more control over your fortunes. Sam then shares what it means to be financially independent and some of the blindspots he thinks exist in the FIRE, or Financial Independence/Retire Early, movement. We end our conversation talking about how to plan your financial life for the future, especially concerning what the changing world will be like for your kids. Get the show notes at aom.is/financialsamurai.

Transcript

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0:00.0	Brut McKay here and welcome to another edition of the Art of Manliness Podcast.
0:19.1	Financial independence is a goal for a lot of folks, but what does it take to get there?
0:23.2	I guess to explore that question on his website Financial Samurai.
0:26.4	His name is Sam Dogan and before writing about money online, he worked in finance.
0:30.0	When we begin our conversation discussing how his career and equity shaped his personal finance philosophy in Maiden Mleary,
0:35.2	putting too much wealth in the stock market.
0:37.3	Sam shares why he recommends putting a lower percentage of your money in stocks than his often recommended and mainstream financial advice,
0:42.8	how that percentage should ship as you get older,
0:44.8	and alternative ways to invest, build your wealth and create multiple streams of income that will give you more control over your fortunes.
0:50.9	Sam then shares what it means to be financially independent in some of the blind spots he thinks exists in the fire or financial independence retired early.
0:59.1	In the meantime, we are going to talk about how to plan your financial life from the future,
1:02.7	especially concerning what the changing world would be like for your kids.
1:05.6	After the show is over, check out our show notes at a.wim.is slash financial samurai.
1:09.6	Sam Dogan, welcome to the show.
1:21.1	Thank you very much.
1:22.5	So you run a website, one of my blogs I subscribe to, my RSS feed, Financial Samurai.
1:31.0	I'm not sure exactly how I stumbled upon your website, but I've been a long time reader.
1:37.0	When I like about it, it's different from a lot of the other personal finance blogs out there.
1:41.4	We'll talk about what makes your approach different, but before we get there, let's talk about your background and how it influenced your philosophy towards personal finance.
1:49.4	Well, thanks for being a reader on my site for so long. I've been a reader and listener of your site and podcast for a while as well,
1:54.6	and I've watched it grow so tremendously, so congratulations there, Brad.
1:59.0	Well, thank you.
	...

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