My financial epiphany has been more of gradual progression rather than a single ‘aha!’ moment. A handful of events each lighting my pathway to financial independence. One of these moments happened when I came to the realization that everything you own is garbage.
In the world of FIRE and early retirement is that "what" and financial independence is the "how." Simply stated: no FI, no ER.
Financial independence, or FI for short, is when you're investments generate enough cash to cover your expenses. That's the holy grail because it means that money is no longer an object. You're financially free!
Not Everyone Should Pursue Early Retirement
Not Everyone Should Pursue Early Retirement, but EVERYONE should absolutely strive to become financially independent.
When you're financially independent, you've got options. You can go to work or quit. Take a vacation or lie on the couch all day. What you do doesn't matter because you're financially free.
The Best Thing Money Can Buy
The best thing you can buy with your money isn't more stuff - it's freedom. When you no longer have to trade your time for a paycheck, then suddenly you can do whatever you want with your time. You're free! And that's what financial independence is all about.
Note to self: A quick reminder to yourself on this gray, drizzly morning in Seattle. As you prepare to trade another week of your life for a paycheck, don’t forget that money, like all of your other possessions, is just a thing. Money gets old and wears out, and just like that car sitting in your garage, even your money loses value over time.
Most Americans define ‘rich’ as anyone that makes more money than they do. I define it like this:
Unlike nobody, I don’t like being told what to do. Who does? Maybe that’s why I hate Monday so much. The thought of going to work for someone else and ultimately being at their mercy rubs me wrong.