Liquid has created a net worth of $2M in only 14 years of work-life but he doesn’t talk about numbers at all. Rather, he insists on mental models and the philosophical approach needed to accomplish any investment or financial goal. Here is his story as well as his best tips to reach Financial Independence early.
- How philosophical readings were Liquid’s catalyst to think outside the box and reach FIRE. How mental models and the Pareto principle made a difference.
- Liquid quickly went into real estate and used his savings account for his first financial move.
- How he sees retirement and what he expects from life once he will quit his job this summer.
- Leverage has different meanings and types. Liquid explains how people can use expertise, technology, knowledge, and many other qualities to leverage their assets.
- The history behind his real estate investment, how he used leverage, his thoughts on cash down, insurance, and how important it is to know the people with whom you invest.
- What his portfolio is currently made of: real estate, dividend growers, and growth stocks (GARP investing).
- The 3 points factor he uses to analyze a stock and his take on sector allocation.
- His experience of farmland investing and what he learned from it.
- Liquid’s top 3 rules to reach FIRE: having an independent mindset, being a lifelong learner, and being mindful of what you expose yourself to.
- How does he feel about his budget or restraining himself for the sake of his financial goal?
- The most important lessons that were learned from his mistakes.
During the interview, Liquid mentioned many books that have influenced his mindset and how to reach financial independence. You can find the complete list of his book recommendations on his site.
- Think and Grow Rich by Napoleon Hill
- Rich Dad Poor Dad by Robert Kyosaki
- The Millionaire Next Door by Thomas J. Stanley and William D. Danko
- The Wealthy Barber by David Chilton
Canadian investors can transform their mortgage into a tax-deductible loan with the Smith Manoeuvre. But then, what? How to proceed? Which rules should you set yourself? Mike shares his best tips based on his own leverage portfolio!
Want to retire early and live your dreams? Our first guest did so in her 30’s: Tracy Ma. Tracy is passionate about real estate investment and she’s into the FIRE movement. She shares with Mike her personal journey, as well as strategies and tricks to start investing in real estate, which turn out to be similar to a dividend growth investing strategy and buying process!
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