This website is about very early retirement and financial freedom, with a pinch of stoic minimalism and just the right amount of frugality. I started this journey in December 2014. You can join me and see when i will reach my goal. you can learn from my mistakes or give me the tips and tricks. Good luck and good journey.
Showing posts with label reaching financial independence. Show all posts
Showing posts with label reaching financial independence. Show all posts
Wednesday, 17 August 2016
Financial freedom - how do I start?
Trying to reconsider my portfolio, I was just asking some of my friends about some ideas. Sadly enough, many of them proposed simplistic solution, and I would often tell them, is this what you would do if you were in my place? My understanding that we need a real financial education seems more needed than ever. But the thing is, that so many think they already know everything they need to know, and despite this, they do not act upon it. They just react to the environment. And this little difference is what we make us to reach financial independence, to retire early, and to enjoy many years of happy, fulfilled life. Being active instead of reactive is all we need. When someone see my results and ask for help, I advice my trademark beginner strategy. Save enough cash to cover 6 months of basic expenses and buy a piggy bank and save something daily in it. At the end of the month, just take whatever you saved and put it in a savings account. Why I do this? Easy, saving a six months basic expenses will make you to feel committed and ready to tackle the issue of your financial freedom, while building the habit of regular saving is also helped by the daily piggy bank deposit, even if it is only 0.01 per day. The habit is the goal, not the saving per se. Later, when this is already part of your normal life, we can start to make a plan. Most of the times, saving 30-50% of your income is not only recommended, but also possible, and the final goal is within your reach. Five to ten years later, you are financially independent. End of the project. And then the real adventure begin.
Tuesday, 26 July 2016
The end is just another beginning
As my plan seems to become real, and i am finally seeing the light at the end of the tunnel (read: as i can probably estimate clearly when i will reach my financial independence - 10th of January 2018), another question raises. I was trained to work hard for my money, and my work gave me an identity, a sense and an activity for the main part of my time. Now i am close, at least in theory, to reach the achievement "Never work again". I will still be busy, but it will be something done with passion, so i cannot categorize this as work. But let's come back to my previous matter. OK, i just reached financial independence, hooray, i will celebrate this with a gradual retirement, from my actual jobs, that will probably take 60 days. What i will do after that? I have so many potential projects, that i do not even know which will be first. In my definition, i am a bit of a workaholic, so this will be fun to live. I am excited, but i am also unsure, as this is a lifestyle i do not know nothing about. I have more than a year to sort this out, anyway.
P.S. If you can give me any link to some similar blog posts, i thank you in advance.
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