If you won the lotto tomorrow, how would your schedule change? Would you take more time to see family and friends? Spend longer on your vacations? Forget about the 5am alarm clock and wake up naturally? Spend more time cooking? Reading? Finally find time to get in shape?
You don’t need to win the lottery. You need Financial Independence. You work hard and save for a decade or so, then never worry about money again.
Hi there reader, my name's Joel. Just a few years ago, my wife and I were spending six figures a year and had a negative savings rate: basically, we were the anti-mustachians. Then my wife got into a car accident. She wasn’t seriously injured, thankfully, but the car was totaled. Around this time a friend pointed us to the Financial Independence community, and everything changed.
We took the $10K insurance check and put it into Vanguard instead of buying a second car. We cut our expenses down significantly, allowing us to max out our 401ks and pay down our mortgage. We saved over $300K in three years, and are on track to reach FI by year five! I started this blog to share the details of our financial 180, and our many lessons learned.
What is Financial Independence? FI is the milestone on your savings journey that signifies your passive income meets or exceeds your annual expenses. Roughly speaking, when your savings exceed 25x your annual expenses, your money will last forever.
Why did I choose Financial Independence? So my wife and I can spend more time with family, and less time at unfulfilling jobs. Or pursue creative endeavors, with no pressure to turn a profit. It means we can live our lives the way we want, on our own schedules, without the need to worry about money ever again.
Interested in following along or starting your own Financial 180? You've come to the right place.