Ideas on Personal Finance
Of all the ways to achieve Financial Freedom / Early Retirement (Earning, Saving, Investing), Saving is the most important. Pillars of Financial Independence / Early Retirement There are only three ways to achieve Financial Independence (FI): Earning: Earn more money Saving: Spend less money (Save more) Investing: Invest the savings wisely All three pillars are … Read more
What is Financial Independence (FI), and why should I care? I had this question when I first heard about FI. Below is my take on the benefits of Financial Independence. The first three sections provide an overview of Financial Independence (FI). To skip to the FI benefits, go to the section: ‘Benefits of Financial Independence’. … Read more
Although I don’t want to spend my time fishing all day, I do like this quote because it contrasts life before and after FIRE. Most people are not in their dream job. It may be because the dream job does not pay much. Or because it is difficult to get. Or maybe because a dream … Read more
This quote, I think, is particularly applicable to me. After I reached FI, I decided to continue working. There is nothing wrong with quitting your job after FI. In fact, that is what many people do. I think I will do that also, eventually. But for now, I am using my FI superpower to get … Read more
After reaching Financial Independence (FI), I am now creating an Early Retirement Plan. Below is a checklist I have compiled to help me think through the process. Importance of Early Retirement Plan Retiring early is a big decision! Just look around – how many people retire early. Not many, in fact, of the thousands of … Read more
I was worried about not having enough money to retire early, so I went with a lower safe withdrawal rate than the traditional 4% Rule (25x Rule). Safe Withdrawal Rate is not a common topic of discussion, so the first two sections provide a brief overview. If you are already familiar with Safe Withdrawal Rate, … Read more