Picky Flamingo – Weekend Reads (07/07/2018)
Welcome to the latest edition of Picky Flamingo – Money Flamingo’s Weekly Roundup.
Picky Flamingo is a collection of the best financial independence and personal finance articles I’ve come across during the past week. Expect most of the articles to be from Australian contributors, but you will also find some great international content. The articles cover the themes we talk about here at Money Flamingo – investing, financial independence, early retirement, personal finance, frugality, lifestyle, and happiness. Picky Flamingo is published every Saturday morning. If you would like my weekly picks to be delivered to your inbox, make sure to sign up for the newsletter!
Presenting… This week’s edition of Picky Flamingo:
- Power Is The Ability To Control Your Own Life by The Escape Artist: In this post, The Escape Artist tells us a story from the book Why Men Are The Way They Are. He describes it as a “parable about the trap of becoming overly focussed on status and spending. The dangers of sleep-walking through life. And the dangers of “One More Year” syndrome.” This is not your standard FIRE blog post, but I really enjoyed it.
Our Investing Strategy Explained by Aussie Firebug: You have two options here – you can either listen to the podcast or read the accompanying blog post. Aussie Firebug covers his investment strategy and discusses index investing, real estate and Peter Thornhill’s dividend investing approach.
- Twice Your Income by 35 by Of Mice And Money: You’ve probably read or heard about the most discussed article in the FIRE community in the last few weeks – the Marketwatch article that claims everyone should save 2x their income by age 35. This article has been criticised in the media and people made fun of it on Twitter. But what savings rate does it actually take to save this amount by age 35? The result might surprise you!
- How FOMO and FONGO can ruin your investment strategy by Get Money Wise: In this guest post, the CEO of a robo-advisor firm discussed the “two main types of fear that can affect your money and how you can harness them for good”.
The Reverse Budget: Why Normal Budgeting Sucks And What To Do Instead by The Money Habit: A great article for anyone who struggles with the traditional approach to budgeting.
Your Weekly Dose of Mustachian Wisdom!
Every edition of Picky Flamingo includes one MMM article so that everyone can enjoy a healthy dose of Mustachianism to start the weekend! 😊
This week’s pick: Luxury is Just Another Weakness
“When you wriggle yourself into the narrow nook of luxury, your perspective on the world, and your ability to survive and thrive in it, also constricts dramatically. Like any drug, it can be fun to indulge in occasionally. But to seek to constantly maximize luxury in all areas of your life to the limits of what you can afford? Pure insanity.”
I hope you enjoyed this week’s selection! See you back here next Saturday! 😊