Inspiration for This Blog

Why does someone start blogging about financial independence?  Most people seem to start blogging because they become so immersed in their goal of financial independence that it becomes a big focus of their lives.  They constantly think about it and naturally gravitate to writing in the FIRE (financial independence, retire early) community.  In some cases, this evolves into a side business based on this passion.  In my case, it was a bit different.  I didn’t start blogging until my wife and I had already reached FI (financial independence).  So why did I decide to start a blog? Continue reading “Inspiration for This Blog”

One of the best reasons to pursue early financial independence

There are many benefits to becoming financially independent (FI).

Duh, you say?

Well, yes, it’s pretty obvious that the freedom of not being dependent on a job to pay for your lifestyle is pretty great for a lot of reasons.  You can find top 10 and other such lists of these reasons on the internet with a quick search.

But these lists tend to be matter-of-fact and obvious.

If you’re FI, you can quit your job if you don’t like it!  Really?  Maybe I have higher standards for my readers but I’m guessing 100% of you have figured that one out already!

Continue reading “One of the best reasons to pursue early financial independence”

Growing our wealth while paying expenses and not having a job.

Decumulation is the technical term for spending down one’s assets. It’s the opposite of the accumulation phase of building up those assets.  So typically it’s the point at which you transition from your job income that is both paying your living expenses and allowing you to save money, to where your savings now need to pay for your living expenses.  Your net worth slowly declines as you spend the money you saved.  It’s a stark transition and it’s  psychologically difficult.

I don’t really like the idea Continue reading “Growing our wealth while paying expenses and not having a job.”

Why knowledge of investing is critical for financial independence

I cover a lot on investing here on SaveInvestBecomeFREE (IBFREE).  There is a reason for this.  Savings is the only way to build your wealth but once you have quite a bit saved and plan on using that money to fund your lifestyle for a long time (maybe 50 years for a very early retiree!), good investing becomes the main factor between financial success and failure.

Your post-job, lifetime financial success depends on how you manage the money you saved.

Continue reading “Why knowledge of investing is critical for financial independence”

Stress and the Role of Money

The American Psychological Association has ranked money as the top stressor for Americans every year since they started their survey in 2007.  64% rated money as a somewhat to significant stressor in their lives.  Studies on relationships also rank money as a top reason for stress in relationships and a leading cause for divorce. Continue reading “Stress and the Role of Money”

The Future – Why Optimism is more Rational than Pessimism

I’m a recovering pessimist.  I used to joke that I am not a pessimist, I’m a realist.  And the only reason I sound negative is because so much in the world is negative.  There is some truth to this of course.  There are a lot of problems.  But there are also a lot of wonderful things in this world and those are the parts that I am recognizing and appreciating more and more as I get older (or maybe now that money isn’t a big stress?). Continue reading “The Future – Why Optimism is more Rational than Pessimism”

Golden Handcuffs and Early Retirement – The Mental Challenge of Choosing Freedom when Slavery is Lucrative

 

Many of us pursuing financial freedom early in life struggle with making the decision to stop our current jobs and make the huge transition into the unknown.  This is a big life decision and it understandably makes everyone nervous.  And a lot about the struggle is about the numbers. Continue reading “Golden Handcuffs and Early Retirement – The Mental Challenge of Choosing Freedom when Slavery is Lucrative”