Economic Freedom Everyone Dreams Of... Frugality and Safe Investments Are Wise Strategies

In today’s dazzling material civilization, those who live breathlessly for survival or suffer because of money may long for economic freedom several times a day.
The concept of Financial Independence, Retire Early (FIRE) described in the book Money Planner stands in stark contrast to reckless materialism and consumerism. It does not place value on unrestrained spending and pleasure. Instead, it advocates for a simple and healthy life, personal growth throughout the FIRE journey, making the most of the freedom FIRE brings, sharing meaningful moments with loved ones, and serving and giving back to society and neighbors—a truly wholesome way of living. The book even introduces meaningful ways to conclude one’s life journey.
Michael Quan, the author, explains that he wrote this book to prove that anyone can achieve FIRE. He claims that by attaining financial independence and early retirement, he finally gained complete freedom, and emphasizes that everyone should pursue early retirement through systematic money planning. He highlights real estate investment as a universal and safe investment method. However, real estate encompasses various fields and requires a considerable amount of specialized knowledge. By building expertise through quality books, informative online communities, or reliable lectures from experts, one can confidently make sound investments. As is well known, location is the most crucial factor in real estate, making related study essential. Just as the moon waxes and wanes, the real estate market also fluctuates in large cycles over the medium and long term, requiring keen insight. There are many investors who made bold investments at the start of the previous real estate boom and saw their assets more than double, but missed the right time to sell and now face monthly interest payments in the millions.
Solid knowledge, thorough field research, and wise investments are essential. However, if you study diligently and make your best effort with determination, generous rewards will follow. Not only in the United States but also in Korea, real estate investment has produced the most wealthy individuals, and most people have a successful investor in their circle. Stock investment is known for its high risk and high return. Fortunately, the author recommends strategies to reduce these risks and efforts. However, the Korean stock market is often called the 'canary in the coal mine' due to its sensitivity to global economic trends, and average investor returns are notoriously low.
Therefore, investing in the U.S. stock market can be much more advantageous in terms of both safety and profitability. The United States is a prosperous country where promising startups in cutting-edge fields emerge rapidly and Big Tech companies achieve remarkable growth, attracting global investment capital. This is why so many Korean individual investors in overseas stock markets are flocking to the U.S. stock market.
As Michael Quan says, if you practice frugality, study consistently, and stick to the basics of investing, you too can achieve the same results. This book will serve as a reliable guide throughout your FIRE journey.
Translator Kim Pil-hyeon
rsunjun@fnnews.com Yoo Sun-jun Reporter