Intro to Digital F.I.R.E.: (Financial Independence Retire Early) Supercharge Your Financial Freedom with Crypto, NFTs, and AI!
Are you tired of the traditional path to retirement and feeling trapped in the never-ending cycle of work and worry?
I’ve been there, and I know how frustrating it can be to balance work, life, and the pursuit of happiness and fulfilment.
But I’m experimenting with a game-changing approach that can unlock a whole new world of possibilities for you.
Welcome to the exciting world of Digital FIRE!
For those who might not be familiar, FIRE stands for Financial Independence, Retire Early.
It’s a movement focused on achieving financial independence by aggressively saving and investing, so you can retire early and enjoy life.
But today, we’re going to talk about Digital FIRE, my modified take on the traditional FIRE movement that incorporates digital assets like crypto, NFTs, and how to use AI technology to accelerate the process.
The principles are the same. Aggressively save and cut expenses while increasing your income.
For example, I’m able to invest over 50% of my income by choosing to live at home with my parents and paying them rent instead of buying a house and paying a mortgage. (Even though we can afford it).
Not the typical thing your average 37 year old would say.
Now, you might be wondering, why Digital FIRE?
I’ve realized that there’s a lack of discussion about incorporating emerging technologies into the FIRE movement.
Which is understandable because it’s the wild west of finance.
While extremely risky, it can be extremely rewarding as well. But it’s tricky to navigate so that’s why I want to share my ongoing journey with you and discuss how leverage the power of digital assets and trending technologies to eventually achieve a financial freedom that leads to personal fulfillment.
I wish I started this journey awhile ago. Except after college, I was young and reckless with my finances racking up to $14,000 in credit card debt and over $35,000 of college debt.
Missed payments led to higher interest that snowballed out of control. Then the constant calls of debt collectors became incessant and non-stop.
And I was given terrible advice to ignore the debt collectors so that I could negotiate payment of my debt at a lower amount. But not realizing my credit score would be completely wrecked for the next 7 years.
Because I ultimately ended up getting sued for failing to pay off my debt. I was working a temp data entry position that paid barely above minimum wage.
Living off baloney sandwiches and McDonald’s dollar menu items while watching the majority of my paycheck go toward paying off my crushing credit card debt.
All while my friends were getting new jobs and living it up. I was struggling to breathe crushed under the pressure of my finances.
But this was the best thing to happen to me because it’s when I finally took control of my finances. I read books and articles, listened to podcasts and consumed anything else that I could to help claw my way out of debt.
I aggressively cut expenses and focused on ways to slowly increase my income.
And Jump forward 15 years later, I’m completely debt free, Have a six-figure career I enjoy, and save over 50% of my monthly income to invest where I use a portion to safety experiment and play in the crypto and NFT markets.
This is not to brag at all, but to give hope to those who are struggling today. Because when I hit financial rock-bottom I never thought I’d ever be in the position I’m in today. But what gave me hope and motivation was reading the success stories of people getting out of debt.
If I did it, so can you.
Once I was debt free, that’s when my Digital FIRE journey started to accelerate, and it’s been a work-in-progress and a wild ride ever since. But I’ve already seen some incredible results seeing outsized returns from learning to safely navigate the crypto and NFT markets instead of taking typically the safer approach of investing in low-cost index funds.
I’m not going to sugarcoat it. This is not a get quick rich scheme. There’s a lot of risk and potential lose all your money.
I learned to trade Bitcoin in 2018 and made around 158% gains. Experimented and got cocky with altcoins in 2020 and lost over $10,000. But picked myself, and overcame the technical barriers to trade NFTs in 2021 and made back my losses and more.
I’ve lost my money from getting scammed, from my crypto exchange going out of business and from just plain stupid decisions.
Even after all of this, I still made better returns than if I kept my money in a low-cost index fund in my vanguard account. Exciting, stressful and a lot of work.
But that’s the nature of beast because the potential for asymmetrical returns is worth the risk for me.
The barriers to entry are high. It’s technical, it’s not user friendly, it’s not ready for mainstream adoption. But there’s where the opportunity is.
Other people’s comfort is our potential advantage with Digital FIRE.
That’s why I believe combining FIRE with new emerging technology is key. Today it’s crypto, NFTs, and AI. Tomorrow it will be the next innovation. Staying in front innovation will give us early opportunities to reach our FIRE goals faster.
At least, that is the plan and what I want to do with my Medium and YouTube channel moving forward. (Subscribe to my YouTube here: https://www.youtube.com/@JeffLosaria?sub_confirmation=1)
This is first post introducing the concept of Digital FIRE. The following posts we’ll dive into the details and see what ways you can implement it into your own life.
Throughout this video, we’ll cover the core principles of Digital FIRE, such as updated rules of thumbs, various investment strategies for digital assets, and ways to increase your value at work with AI-driven skills.
We’ll explore how to create a personalized roadmap to financial independence, embracing a forward-thinking mindset and leveraging cutting-edge technologies for accelerated success.
Remember, I’m still on this is journey as well so we’re all in this together. I’ll be sharing what I’m learning, my personal experiences, challenges, and successes with you as we explore the world of Digital FIRE.
And I encourage you to share your own stories and insights in the comments. Let’s learn from each other and pave the way towards financial freedom in the digital age!
Are you ready to embark on this thrilling journey? Let’s unlock the true potential of Digital FIRE together! In our upcoming articles, we’ll dive deeper into each topic, providing you with valuable insights, practical tips, and inspiring stories.
So, don’t miss out — hit that subscribe button and join us on the path to financial freedom with Digital FIRE!
Disclaimer: I’m not a financial advisor. None of this is meant to be construed as investment or financial advice. This is meant for education and entertainment purposes ONLY. Our videos are strictly personal opinions. IF cryptocurrency, stocks, or companies are mentioned, Jeff Losaria MAY have an ownership interest in them. Any use of other media is by fair-use or license only. Some of the links and other products that appear on this video or here are from companies in which Jeff Losaria will earn an affiliate commission or referral bonus. I’m part of an affiliate network and I receive compensation from partner websites. Information may be outdated or inaccurate. It is your responsibility to verify all information. Please always do your own research.
