you know,

What setbacks and challenges will you encounter on the way to practice FIRE ?

I know you want to achieve FIRE financial freedom, but how?

How can we solve the setbacks and challenges in the process, and let ourselves practice FIRE step by step?

Let shumeng lead you to think independently step by step, plan your FIRE plan, and make a solid layout!

Why think first

FIRE CHALLENGES

This kind of thinking is a bit like the idea of " long-term thinking " . First, make a preliminary long-term plan for your FIRE life , first grasp the general direction, and then think about the details.

It's like if you're going to Kenting today, you always have to think about how many days you're going to go? how to get to? How to play!

So, when you decide to perform a FIRE exercise , you should always think about it first!

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Think again~

Are the setbacks and challenges that you may encounter in practicing FIRE, or what may happen, the same?

In other words , the problems that others will encounter, you may also encounter.

Because this is life, and most of the problems you may encounter in life are similar.

Just like in life, everyone will encounter things, and most of them are similar, only a few of you may not encounter them.

For example: accident, death, husband cheating (not necessarily everyone will encounter it), being fired by the boss (not necessarily everyone will encounter it), stock market crash. . .

And a small number of them will not be encountered, usually related to the personal blessings and merits of the past lives.

So, why is it so important to accumulate merit and virtue, you will virtually eliminate some unnecessary disasters for yourself.

▶️ Further reading

The law of wealth and mind, accumulate 3 intangible assets in life, let money like to flow to you automatically!

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So, if you can prepare to practice FIRE first, most of the problems you may encounter, think about it first, what should you do when you encounter these setbacks and challenges?

If the problem really comes! Do you have a bottom line in your heart and know what to do ? You will not suddenly panic, or lose control of your emotions, not knowing what to do? !

So you think,

Would your chances of achieving FIRE be higher? 😄😄

meeting

still

Wouldn't it?

Your answer is 😄😄

How to think about the setbacks and challenges you will encounter in practicing FIRE

shumeng take you, use 9 grids together, think clockwise!

We write the issues discussed this time in the center of the 9th grid. If you encounter a problem with FIRE in the future, you can also try to use the 9th grid to think, slowly find your solution, and cultivate your own independent thinking Ability.

Write down the setbacks and challenges you think of, and write down the questions one by one. Shumeng will give you an example for your reference. There are 8 questions in total.

① Is your source of income stable?

② You can continue              Year, save to FU MONEY?

③ To save FU MONEY, you can continue                year, saving rate                 ?

④ Where do you store your FU MONEY?

⑤ In the event of a stock market crash, what should you do?

⑥ What should you do in the event of an accident or death?

⑦ Deposit to FU MONEY, how do you use the money every month?

⑧ Will the way you spend money after FIRE allow you to live the rest of your life with peace of mind?

Think about your FIRE solution

Then according to your questions, write down your answers one by one, communicate with yourself while writing, and explore yourself to see what are you worried about? What do you care about?

shumeng will give you an example for your reference~~

① Is your source of income stable?

ex : I work at TSMC and have a stable source of income. As long as I continue to maintain workplace competitiveness and irreplaceability, I think I can earn this income for a long time.

So, is your source of income stable? Where do you work? Is the company you work for stable? Is the boss honest?

Or, how do you currently make money? Is your way of making money stable? How long can you earn this money?

▶️ Further reading

How to establish a source of income so that there will be an endless stream of money and money will always come

② You can continue              Year, save to FU MONEY?

ex : I want FIRE after 10 years, I can keep saving for 10 years. Because my source of income is stable enough.

Well, can you last a few years and save it to your FU MONEY ?

If not, what should you do to keep it in your FU MONEY?

▶️ Further reading

Rich. FIRE for financial freedom, your FU MONEY, how much does financial freedom cost? (Experience Note #1)

③ To save FU MONEY, you can continue                year, saving rate                 ?

ex : I can last for 10 years with a savings rate of more than 50%. Because FIRE is the way I want, even if I encounter problems and challenges, I will try to solve them.

Then, in order to save FU MONEY, can you save money for 10 years and find a way to make more money?

Are you willing to work hard every day for the FIRE life you want for more than 10 years, sometimes even sacrificing your sleep time?

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④ Where do you store your FU MONEY?

ex : I may live in Taiwan in the future, save most of my money in the large-cap ETF 0050, and let 50 excellent companies work for me; and do a good job in risk management and asset allocation .

So, where do you want to store FU MONEY? What about saving Taiwan stocks and US stocks?

Or, what is your investment strategy? Is there any, your investment philosophy?

▶️ Further reading

• Are you saving bones, or are you saving shares? (Download your trial balance for free and save it to your FU MONEY)

• Rich. FIRE of Financial Freedom! Yang Yingchao time, the importance of risk management - talk about bonds? (Experience Note #3)

• FIRE financial family Xiaobai, is it better to save US stocks or Taiwan stocks? Which can be early deposited to FU MONEY?

⑤ In the event of a stock market crash, what should you do?

ex : I have prepared a 2-year emergency reserve fund so that I can wait for the stock market crash to pass.

Well, are you prepared for a stock market crash? Do you have money to live?

When the stock market crashes, do you need to reluctantly sell your stocks and exchange money for a living? Or, do you have a better way?

▶️ Further reading

• How much is the emergency reserve fund? In order not to be afraid of emergencies in life!
• Rich. FIRE of Financial Freedom! Yang Yingchao has time, can the stock market still enter the market now? (Experience Note #2)
• Use the "FIRE3 Account Management Method" to achieve your FIRE goals step by step! (Download your FIRE3 account for free

⑥ What should you do in the event of an accident or death?

ex : I have purchased term accident insurance, term life insurance and term medical insurance, which can reduce this unexpected risk.

Well, are you ready?

What should you do if you suddenly encounter an accident, illness, or death? What should your loved one do?

▶️ Further reading

• Rich. FIRE of Financial Freedom! Yang Yingchao has time, is it okay to take insurance as an investment? (Experience Note #6)
• Rich. FIRE of Financial Freedom! Yang Yingchao's time, the focus of the first season (free download-FIRE financial freedom plan)

⑦ Deposit to FU MONEY, how do you use the money every month?

ex : I will try it first, put the living expenses needed every year in an account, and use it every month.

Then, how do you use the money every month when you deposit into FU MONEY?

How to use it so that it will not exceed 4% of the annual cost? How will your cash flow be smooth?

▶️ Further reading

• Do you know the status of your cash flow? (Free download of cash flow exercise diagram)
• Walking with money, ETF expert Huang Boren uses one trick to 505 wealth freedom (Zhongtian Finance YT Experience Note #2)

⑧ Will the way you spend money after FIRE allow you to live the rest of your life with peace of mind?

ex : I will first try to see how FIRE spends money in the first year, and then I will adjust and optimize it every year.

So, how can you feel at ease and live your FIRE life?

How to spend money after FIRE so that you can sleep well at night?

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When you finished writing, did you find that you felt a lot more at ease?

Don't you feel that you are one step closer to FIRE!

If thinking like this is still a little challenge for you, maybe you can buy a shumeng FIRE writing subscription , and I will personally lead you through writing step by step , communicate with yourself, explore yourself, and work hard towards your FIRE goal. forward 💪💪

I'm so envious~~

shumeng I wish that when I was young, someone could teach me how to think independently, how to communicate with myself and explore myself 🙏🙏

In this way, I don't have to take so many wrong paths and fall all over myself! 😭😭

👇 Click to register👇

▶️ Further reading

Communicate with yourself through online self-media writing, explore yourself step by step, and practice your FIRE movement

Hey, did you like today's content? ❤️

I sincerely hope you learn how to think independently and become the master of your own life😄😄

Finally, you are welcome to download for free, "FIRE Frustration and Challenge Thinking Map" , you can build your FIRE financial freedom safety net bit by bit through thinking and self-organization in the 9-square grid.

If I am using the "FIRE Frustration and Challenge Thinking Map" , if there is anything unclear, or if there is any suggestion, whether it is good or bad, I will humbly accept it. Welcome to leave a message and tell me~

You are also invited to join the exclusive Facebook private community to discuss together, let's move towards FIRE together!

Remember, you are the master of your own life

<The information on this website is shumeng experience sharing, not investment advice, please think independently and be responsible for your own money>

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"Free support", please help shumeng clap 5 times, have the opportunity to get paid for content creation, and share more ways to reach FIRE early ❤️

The original link is linked to Taiwan FIRE Sports GO.