“I’m not smart enough to know what’s going to happen in the market, no one is. I don’t know if we are currently in the middle of an unprecedented bull market that will go on for another 8-9 years, or if it is something else.
All I know is that bears happen. At some point, we are going to hit a bear market. And if that some point happens in the next five years, then the FI date I calculate today with the assumption of steady growth at 7%, won’t happen.”
“tt’s no secret that paying off debt is hard work. The sacrifices you have to make are ever present, while the rewards are months or years away. Staying motivated during the debt payoff journey can be challenging no matter how much debt you have to pay off. However, it is particularly difficult when your debts will take years and years to pay off.
Finding a way to keep up your motivation can be tricky over such a long stretch of time. However, your enthusiasm wanes with each passing month. The daily sacrifices you are making become more inconvenient. The initial high you felt when you developed your plan is replaced by discouragement at the thought of how long you have to continue to sacrifice.”