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Confessions Of A Hectomillionare🤑, How To Be Great?🏆, Inflation Is Far From Over📈

FIREwatch Financial Independence Update - 8th August, 2022

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FI/RE

How To Be Great? Just Be Good, Repeatedly (15 minute read)This is an article from last year that I keep finding myself coming back to. Whether you're looking to save more money, upskill in your career, or succeed in your business venture. Consider this, perhaps "great", is just good, but repeatable.

3 questions a financial planner asks herself to figure out when spending the money is actually worth it (4 minute read)There's no worse feeling than buyer's remorse, especially when it's expensive. Hanna, a financial planner, always recommends taking some time to think through purchases to help avoid buyer's remorse and uses 3 simple questions to determine whether an item is actually worth purchasing.

Crypto Pro Sam Bankman-Fried Warns Against Traditional Portfolio Hedges During Inflation (2 minute read)Crypto billionaire and founder of FTX, one of the largest crypto currency exchanges in the world, Sam Bankman-Fried shares a warning on hedging inflation with traditional portfolio hedges and remaining comfortable by keeping some liquidity on the sidelines.

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Market

The market read the Federal Reserve all wrong (4 minute read)After the Federal Reserve's July meeting, investors quickly reached a consensus that the central bank was turning dovish as it hinted that it would downgrade the size of its hikes moving forward. Now, Fed officials are trying to set the record straight, not wanting the markets to change course too quickly.

Daly says Fed is 'Far From Done Yet' on Bringing Inflation Down (2 minute read)San Francisco Fed President Mary Daly suggested a 50 basis-point rate increase isn't locked in at the US central bank's next policy meeting, saying the Federal Reserve is "far from done yet" in bringing down inflation.

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Top FI/RE Reddit Posts

Confessions of a Hectomillionaire Part 1 (This series of threads is nearly a year old now but still offers some fascinating insights)

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Best of FI/RE Twitter

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 A good one for those looking to up-skill with programming.

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Wisdom Of The Week

"Successful trading is always an emotional battle for the speculator, not an intelligent battle" — Jesse Livermore

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