When I first started this blog back in 2019, I had a pretty good idea of what I was looking to get out of it.
A creative escape valve from the pressures of my day job.
An opportunity to explore topics I am curious and passionate about, such as capital markets, investing, and behavioral economics.
And an off chance that along the way my writing could possibly help others in their own personal finance journey.
But the one benefit of this blog I did not expect is inspiration.
Over the past two years, I’ve had readers reach out to me with stories of setbacks and successes, failures and breakthroughs.
Stories of determination, resolve, and grit, showing how much is possible should one really set their eyes on a specific goal.
This week was no different.
If there’s one thing I quite like to do on this blog it’s to push the boundaries of accepted wisdom.
One such boundary is the notion that becoming a millionaire is somehow out of reach for the vast majority of the population – and certainly not for those born without a silver spoon.
With that in mind, I published a detailed, step-by-step guide on getting to your first million.
No secrets and shortcuts, just a proven, patient strategy that will get you there in twenty-odd years.
In the comments section, one of the readers responded:
No need for a trust fund, a lottery win, or a “master of the universe” career.
Also no reference to skipping on lattes, avocado toast, and every other pleasure in life.
Just a slow and steady journey, staying the course through good times and bad, and being smart about investment vehicles (pensions, ISAs, SAYE plans) and that boring but lucrative topic of taxes.
As a result, a seven-figure portfolio by mid-forties, with tons of runway ahead.
All a result of a little planning, consistency, and the audacity to set a goal far higher than what is suggested by “accepted wisdom”.
If that’s not inspiring, I don’t know what is.
Have a wonderful holiday weekend all!
From Yours Truly
From Zero To Hero: Getting To Your First Million
The Many Different Paths To Financial Independence
The Ladders of Wealth Creation – Nathan Barry. If you are only going to read one thing this week, this is it.
Two Big Reasons For Active Management’s Underperformance – Rock Wealth
Are You Childish About Money? – Monevator
How To Do Long Term – Morgan Housel
Ten Rules For Negotiating A Job Offer – Haseeb Qureshi
Is the topic of safe withdrawal rates keeping you up at night?
You might want to give this article a glance:
The Extraordinary Upside Potential Of The Sequence Of Returns Risk – Michael Kitces
When All Moments Have Equal Value – Raptitude
“Dear son. If you are reading this, I’m dead. I’m sorry”
Is fear holding you back from living your dream life?
If the story below doesn’t spur you into action, I don’t know what will:
When I’m Gone – Rafael Zoehler
As always, let’s finish off with some top-notch books on life, money, and happiness:
How To Fail At Almost Everything And Still Win Big – Scott Adams (aka the creator of Dilbert)
The Seven Habits Of Highly Effective People – Stephen Covey
The Happiness Curve: Why Life Gets Better After Midlife – Jonathan Rauch
Happy weekend all!
P.S: Attention New Bloggers:
if you are a personal finance blogger who hasn’t yet been featured on Greatest Hits, I would like to hear from you.
Please send an email to bankeronfire at gmail dot com with a blog post you would like to submit for consideration.
The key criteria for inclusion are as follows:
(i) Content that will be interesting or beneficial to the readers of this blog (I hope you will forgive me for reserving judgment on this one)
(ii) Your blog must be at least 6 months old, with regular posts. Too many bloggers flame out early, and I don’t want the readers here to follow a bunch of dead links.
I look forward to hearing from you.
Note: the above post may contain affiliate links. You can read up about our affiliate policy here.
About Banker On Fire
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Banker On FIRE is an M&A (mergers and acquisitions) investment banker. I am passionate about capital markets, behavioural economics, financial independence, and living the best life possible.
Find out more about me and this blog here.
If you are new to investing, here is a good place to start.
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