What is the main focus of the book?

The book focuses on the psychology of investing and offers a fresh perspective on the world of personal finance.

Is the book suitable for beginners?

While the book is well-researched and offers a range of topics, it assumes a certain level of financial knowledge, which may make it difficult for complete beginners to follow.

What are some of the key takeaways from the book?

Some of the key takeaways from the book include the importance of risk management, the value of diversification, and the need for a long-term perspective.

Is the book easy to read?

Yes, the book is well-written and easy to follow, making it a pleasure to read from start to finish.

Are there any case studies or examples in the book?

Yes, the book includes a range of case studies and examples to help illustrate the concepts and strategies discussed.

Is the book suitable for everyone?

While the book is well-researched and offers a range of topics, it assumes a certain level of financial stability, which may not be realistic for everyone.

Can I apply the strategies discussed in the book to my own life?

Yes, the book offers practical advice and strategies that can be applied to real-life situations, making it a valuable resource for anyone looking to improve their financial situation.

Is the book a good addition to any personal finance library?

Yes, the book offers a fresh perspective on the world of investing and is well-researched, making it a great addition to any personal finance library.

The Ultimate Guide to Retiring Early: Lessons from a 35-Year-Old

Hello everyone, and good luck with your investments!

for moderators: all photos are mine, including those in collages and with money

Investing has been a fascinating topic for me for five years now, and I started with investment courses, basics for beginners, courtesy of Olga Gogoladze's course 'I'm an Investor'. That's where I learned the fundamentals, like how to open a brokerage account correctly, what stocks are, and how they differ from bonds, and other super basic stuff that I'd call the alphabet of financial literacy. But, as we all know, learning the alphabet is one thing, and reading is another. It's not even close to writing poetry or short stories, right?

So, after taking my first steps in investing, if you want to secure your life, you need to think about what that life will cost. I agree that to do that, you'll have to wade through a ton of literature, watch countless interviews with financial experts, and so on...

But among all that noise, I found some precious gems of financial wisdom, one of which is author Anar Babaykin, who's written several books on the psychology of investing.

a photo to grab your attention. my money)

⭐️ I picked up the book on Ozon, Litres, and other subscription-based book sites - prices vary, and I've got the e-version.

▶ What I think is the most challenging part of long-term investing on the stock market?

There are a few key things investors need to focus on and stick to.

First, it's consistency in investing, topping up your brokerage account (or ISA);

second, it's no emotional decisions, keeping a level head when buying and selling shares;

third: buying more shares when they're on the slide, dollar-cost averaging;

fourth: reading company financial reports and never listening to friends' or colleagues' advice - sticking to your own financial strategy;

fifth - buy and forget. It sounds weird, but once you've invested in a batch of shares, there's no need to keep checking on them every month, or letting market fluctuations get to you.

▶A bit about the author of "Retire at 35" ▶

I managed to learn a lot about the author from his own YouTube channel, where he shares financial literacy and investing tips.

I've always been a fan of living below my means and planning for the long-term financially. At one point, I ditched the idea of buying a family estate that was just draining my finances, then a condo, and even a car. Yeah, I lived on rent for a while and preached that lifestyle. But as time went on, like most people, I had a change of heart and bought a place of my own. Apparently, my finances improved enough that I felt secure enough to invest in real estate. Unlike me, I think real estate is the most solid 'currency' in our country where you can safely stash large sums of money. Sure, the annual return on renting out a place might not be huge, but at least it's not going anywhere.

▶ What is early retirement? F.I.R.E movement. ▶

I first heard about early retirement from Babin in an interview, and then I read about it in his book, which, by the way, has

174 pages

Babin is a former employee who proved through his own experience that achieving financial independence in your lifetime is entirely possible. He quit his hated job without waiting until he was 65.

Babin's experience fits right in with the existing FIRE movement that was already in place when he wrote his book.

FIRE is an acronym.

It stands for financial independence, retire early

Which in Russian translates to

financial independence, early retirement

Let's get real about early retirement here. It's not about the government supporting you. In this context, retirement means you've got enough savings to live off 4% of them each year, withdrawing 4% from your nest egg. That's the ideal scenario, and it's often referred to as the '4% rule'.

Book: Retiring at 35 by Babaykin - Reviews

The core idea behind FIRE is pretty simple.

Save up enough capital before you're 35 to generate a steady income

that covers your monthly expenses

And then you can ditch the job you hate and live life on your own terms.

I'm not sure how relevant this is in Russia, but I think it's doable by 45 if you've got a good job, like a software engineer or a military professional. To get there, you need to put in the work, max out your savings, and sacrifice some comforts along the way. It's a tough road, but it's worth it for the freedom that comes later.

So, what drove the author to take this path?

wanted to spend more time with family and not be a hired hand

I think a lot of people would love to know this, but nobody really digs in to figure it out. I didn't for a long time either. If I'd gotten this information at 20, I'd be the happiest person alive right now, but unfortunately, it didn't come to me until I was 30. And since then, a lot has changed in my life.

Aunar first told me about choosing an investment strategy. I didn't take on any complicated tools, I'm not into funds, paper real estate, or venture capital. I prefer classic stocks and bonds, and later, real estate.

Choosing an investment strategy: Book review for retiring at 35I think a lot of attention is paid to the psychology of the investor, how to properly distribute income in the family, how not to get caught up in silly sales, and so on. The author is clearly an expert in psychology and has clearly overcome a lot of their own fears. I myself, while investing, have stumbled upon the pitfalls of the investor's fear multiple times - that I'd lose everything, that the exchange would shut down, and so on. I invested incorrectly, transferred money, sold when I shouldn't have... If I'd read this book right away, instead of a few years later, I wouldn't have made those mistakes, and I wouldn't have sold off half of my assets after the market started to recover. I'm not saying I'm super regretful, but the experience was valuable.

⭐️ Here's what the author writes about the time it took to grow their capital:

I started with a salary of 60,000 rubles

It took me 10 years to go from zero to retirement

I'm convinced that anyone can achieve this path in max. 15-20 years

Yeah, maybe 20 years, but I think the author has a unique talent for figuring things out on their own, so this strategy worked for them so quickly.

book Retirement at 35 Babinakin reviewsThe book has separate chapters on how to escape the office and not get sucked back into the 9-to-5 grind, as well as some really interesting thoughts on whether it's easier to be an investor or a businessman. And even though the author writes about being an investor, he's now a co-owner of a real estate agency, so time's been kind to him. I agree that with the right strategy, it's definitely better to be an investor.

Of course, the main idea of the book is to always increase your income

earn capital outside the stock market

reinvest

save (spend less)

I've got to say, the idea that the more you earn, the more you can invest is pretty straightforward to everyone. But the second concept I came across in this book was a bit of a surprise - you don't have to rely on making a killing in the stock market to build wealth. The classic strategy of 'buy and hold' combined with reinvesting dividends is still the way to go, in my opinion.

How to save money at any income level Book on retirement at 35 reviewsThe author's stance on the last point is pretty clear: he's strongly against constantly upgrading to the latest Apple tech, buying new cars, or spending a fortune on repairs. And it's not just about avoiding conspicuous consumption - it's also about keeping your financial situation private, because let's face it, people will want a piece of your pie as soon as they realize you've got some money.

Book on retirement at 35 years old Babinakin reviewsOf course, the book also talks about the importance of having several safety nets in place - some money in the market, some on a card, and some in a wallet for emergencies. It's all explained in more detail in the book, but that's the basic idea.

I've got to give a shout-out to the section on additional income streams – it's a game-changer. I didn't think about it until I read this book, but now I've got two official jobs, some freelance work on Avito, and I'm also writing here on the site.

And those small financial trickles eventually add up to a decent cash flow that you need to manage and invest wisely.

As promised, I'll show you the dividends from one of my portfolios, which I've been investing in moderately. They've been giving me an average return of 13.5% per year. I reinvest all the money I make from the stock market right back into the portfolio, so it's slowly growing.

My dividends this yearIt's great to see my portfolio growing year by year, month by month – even when I forget to invest my salary, I just add the coupons and interest from my stocks to the portfolio. To be honest, I didn't know all this when I started, so I made some rookie mistakes and wasted some time. But after the war started, I lost faith in investing, which was a huge mistake. I could have used that time to buy up all the undervalued stocks. But instead, I was scared. That's exactly why you need to read this book – to face your fears and start investing.

The book is written in a clear, straightforward style, with tons of real-life experience condensed into actionable advice for actual investors. The author did a great job.

⭐️ I hope you'll find the strength and faith to keep going on your investing journey and always believe in the power of compound interest.

I've got to give a shoutout to my go-to investment app, Tinkoff Investments, which I've been using throughout my financial journey. You can read about my successes with it here.

⭐️Wishing you all financial stability, friends!

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