Financial Samurai: DIRE, not FIRE

  • Dogen said it makes very little financial sense to retire in your 30s or 40s now because we’re on the verge of an economic downturn, homes and college tuition are more expensive than ever, and we’re living longer.
  • He says there’s a better retirement path: DIRE, which stands for delay, inherit, retire, expire.

Retirement is overrated. Sam didn’t retire he just changed careers. Successful people need challenge. Playing golf fishing or skiing isn’t enough challenge for most …

My challenge as an investor is to bet the farm on stocks and real estate. Not a single penny wasted.

Rich people needs to be conservative and capital preservation is a top priority. You need to make sure that you never need to work again. It’s painful to have to work for a boss after your retirement for some years.

If you invest like @manch, you would have a good chance to go back to workforce

No. I’m much more aggressive than he is when it comes to betting the farm.

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What’s betting the farm again? I didn’t know that you are more aggressive than him :tumbler_glass:

Now you do.

Betting the farm means risking everything. Bound to be a failed philosophy if done repeatedly.
Bought the farm means you lost everything

Can you be more uplifting you grave dancer you… :rofl:

If indeed we are heading for an economic downturn that would be a stupid reason to delay retirement. Everyone’s retirement will include as least one economic downturn and maybe several unless they plan on dropping dead in less than a decade. If your financial plan can’t account for that you’re not ready and maybe never will be. If anything you want to downsize before the downturn when you can still get top dollar for whatever real estate or other assets you don’t need. And once the downturn hits you may not be able to find a job anyway.

I am a realist. Been there done that got the T-shirt. Most developers go bankrupt. They are always betting on the next bigger project. Sooner or later the next recession will wipe them out. Not a grave dancer just an old guy with lots on info to share. My old colleague lost everything in 1953. Was one of the biggest builders in the BA. His wife never let him get back in the game.
Big risks mean big rewards or big failures.

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You only live once. Bet that farm!!! Better die flashy than live in mediocrity.

For me, it’s just DIE (but hopefully not for another 40 years) I’m just aiming for 70s. Too greedy? Maybe with my diet and lifestyle, it might be 60s :pensive: .

Like playing craps or poker. Know when to hold them and when to fold them. Know when to walk away with your winnings

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If you take too much risk, it means that you are still poor. :joy:

When you are rich, you will lose appetite for the farm bet.

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Not necessarily. You don’t see welfare moms having any appetite for a farm bet.

Poor people play lotto more than anyone. Always looking for a big score. But too lazy and stupid to put the effort in on a real shot at it.

Spending a couple dollars to buy lotto isn’t exactly a farm bet. Using your entire net worth to do so is. Have you seen anyone doing that?

I did it a few times till I was 40. Got lucky.

If you can replace your netoworth easily within 3 years after a total loss, bet the farm.

RE and non-margin non-risky stock portfolio is not really a bet farm strategy.