This FIRE expert thinks you’re too frugal.
Can you achieve the American Dream by saving half your paycheck? Sam Dogen, founder of Financial Samurai, left Wall Street at 34 with a seven-figure nest egg after a demanding investment banking career. He saved “until it hurts” but would he do it differently? We discuss real estate, generational wealth, and financial freedom. [Episode 101]
Sam Dogen is the founder of Financial Samurai, one of the most visited sites on Financial Independence and Early Retirement.
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ABOUT KHE HY
Khe Hy is the founder of RadReads and father of two. Khe spent 15 years working on Wall Street and was one of the youngest Managing Directors at BlackRock. He’s been called Oprah for Millennials by CNN and the Wall Street Guru by Bloomberg and his work has been featured in the Wall Street Journal, TedX, Barrons, Time Magazine and Quartz.
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RadReads is an online education business that helps ambitious professionals lead more productive, examined and joyful lives. RadReads provides guides, coaching, and trainings to more than 50,000 high-performers to help them gain back free time, scale their impact, and make their little dent in the universe.
TIME STAMPS
00:00 Introduction to Decumulation at 45
02:47 Saving Until It Hurts
04:56 Living Frugally and Saving Aggressively
12:53 The Benefits of Home Ownership
16:47 Leveraging Investments and Margin
22:51 Impact of Interest Rates on Real Estate and Investments
24:31 The Cost of Home Ownership
29:06 The Role of Parental Wealth
36:00 The Philosophy of Dying with Zero
47:49 Conclusion and Where to Find More