As we mentioned back in our very first post, the primary focus of this blog is to help you avoid the financial mistakes we’ve made in the past. And over the years, we’ve made A LOT of mistakes: We purchased our first home in the summer of 2007, at the peak of the housing market; … Continue reading Replacing Fear With Flexibility
Few concepts are as misunderstood in the FIRE community as the (ominous voice) “early withdrawal penalty.” More accurately described as section one of tax code §72(t)*, this is the additional 10% income tax that applies to withdrawals from tax deferred retirement accounts taken before age 59½. As I browse the various financial independence forums, I … Continue reading Don’t Fear The “Penalty”!
**Update 7/17: The Milestones of FI is now a featured episode of the ChooseFI podcast! We elaborate on the content of this article, and discuss a few additional milestones as well. Check it out here.** When my wife and I first discovered the financial independence community, we were beyond excited. We binged through the Mr. … Continue reading The Milestones of FI
I’m writing this post from beautiful St. Simons Island, relaxing in the sun and enjoying a much-needed vacation away from work. A vacation which, interestingly enough, wouldn’t have happened if I didn’t leverage the power of FU money. What is FU money? Well, I’ll let Jim Collins, the author of “The Simple Path To Wealth” tell … Continue reading The Power of FU Money
This week, the wife and I were guests on the ChooseFI podcast! Brad and Jonathan had us on the show to discuss our Financial 180, and we had a blast. Listen here! Some highlights: How we went from spending six figures to saving 85% of our income Discussing Financial Independence with family The opportunity costs … Continue reading We’re on ChooseFI!