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Financial Independence

Financial Independence: the greatest thing money can buy is your freedom

Financial Independence

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.

Clueless at 40 to Financially Independent by 50

By EFI   Leave a Comment

From Clueless at 40 to Financially Independent at 50Can you go from clueless at 40 to financially independent in less than 10 years? We are. And, we’ll do it as two public educators, not doctors or investment bankers. 

We aren’t quite there yet, but here’s how we’ve turned things around and why I’m confident we’ll get there.

If you’ve just started paying attention to your finances in your 30s, 40s, or even 50s it’s not too late. No doubt your situation is different, but you’re aware now and that matters. Ours is just one story – you can write your own!

Our First Twenty Years

We Started Out Broke

We started out as two new teachers, more than $100,000 in debt thanks to student loans and consumer debt from our college years. We then bought a house on a zero down mortgage and jumped into our careers. Living the American dream! [Read more…] about Clueless at 40 to Financially Independent by 50

5 Things I Learned from the FIRE Community

By Sam at How To FIRE   1 Comment

5 things I learned about time and money from the FIRE communityMany people dream of becoming financially independent and retiring early, but it’s something that only a small percentage ever achieve. For most, work continues well into their sixties (and sometimes beyond), leaving little time to enjoy the fruits of their labor.

The idea behind FIRE (which stands for financial independence, retire early) is to provide the intellectual tools, resources, and support that people need to make early retirement a genuine possibility. [Read more…] about 5 Things I Learned from the FIRE Community

5 Awesome Ideas for Building Long Term Wealth

By Amy Beardsley   1 Comment

Building long term wealth is the cornerstone of the FIRE movement, but it takes more than cutting back how much you spend on groceries to get there. While watching your budget and keeping your expenses down help, you need lasting wealth if you hope to achieve financial independence.

So, what’s the secret to lasting wealth? Unfortunately, if you’re searching for the mystic yellow brick road leading to success, you’ll be disappointed.

Building Long Term Wealth

[Read more…] about 5 Awesome Ideas for Building Long Term Wealth

The Basics Steps I Used to Reach Financial Freedom

By Inna Rosputnia   Leave a Comment

They say money doesn’t make you happy, but I can’t fully agree. Who doesn’t want to reach financial freedom? I love money, and I believe it’s normal. We all work to earn. How else can you achieve financial freedom? However, money is not a goal; its an instrument to make your dreams come true, to live a fulfilled life, travel, be able to pay kids education and finally retire.

Money is simply a necessity like food or water, it helps you buy the things you need.

[Read more…] about The Basics Steps I Used to Reach Financial Freedom