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Ether to FI is back! The anesthesiologist with a keen eye on FI is back with his second update of the year and 10th overall in the nearly two years since he finished residency and got on the fast track to financial freedom. Today’s post is all about waste. I’ll be honest. Having the luxury to “waste time” is one thing I really look forward to in my upcoming retirement. Waste may not be the best word, but doing as […]
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Who would pose such a question? I don’t suppose it would be… an actuary, perhaps? If you’re thinking what I’m thinking, we’d both be right. Today’s guest post is, in fact, written by an actuary with an uncommon wit and a penchant for pensions, among other things. I’ve had the pleasure of clinking pint glasses with the Actuary on FIRE when I happened to be in his neck of the woods a couple of years ago. We spoke of kids, […]
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How easy or difficult will your quest to achieve financial independence be? The math doesn’t much vary from person to person. You’re going to want at least 25x your future expenses saved up or passive income that exceeds your spending. If you don’t have either, or some combination of both capital and passive income, that can be expected to cover your future expenses indefinitely, you’d be hard pressed to call yourself financially independent. If you feel like financial independence is […]
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Dr. Peter Kim poses a simple question in today’s Saturday Selection. It’s a great question to ask, and an important question to ponder. If you’re not making good progress towards financial independence or financial freedom, what’s holding you back? Most people reading this website have the income to make it happen in a couple of decades or less. Live on half your takehome pay, use the rest to retire debts and invest, and you’ll be FI about 15 years after […]
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What were you taught about money in school? How about after school? How did you learn about money? If you answered “next to nothing,” “next to nothing,” and “I learned from my own mistakes,” you’re in excellent company. That’s the route many of us have taken, and I think our financial education is in need of an overhaul. The Physician Philosopher agrees with me, and he goes a step further to state that not only financial literacy, but also financial […]
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She watches with anticipation as the numbers pop up on the screen. 3. Her daughter’s age 12, 16. She was born on December 16th! 26. Her age when she graduated medical school and got married. 33. Her current age and the fifth of her lucky numbers. This is really happening. Just one number to go… 11! This one goes to eleven! She figured if she didn’t win the lottery, she could live on half her takehome pay and be financially […]
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We last heard from Ether to FI in December when he talked about having a frugal spouse makes early FI all the more likely. Today, he returns with his ninth installment more than a year and a half after he finished his anesthesia residency and introduced himself to the world. The initial plan was to reach FI with $3.3 Million within 10 years but continue working indefinitely. A few posts back, he and his wife were thinking more seriously about […]
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A week ago, I delved into a couple of great books penned by millennials, and largely for millennials, detailing the path the financial freedom. Today, I’d like to review a couple more financial freedom books. Today’s selections were written by a couple of my cohorts in Generation X, a generation loosely defined as being born between the early 1960s and early 1980s. I’m a Generation Xer. Many of your favorite FIRE bloggers are, too, like Mr. Money Mustache, Justin @ […]
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It’s a great time to be alive, and it’s a great time to become aware of the role your money will play in your life. The number of resources available to you is growing by the day. Today, I’ll be highlighting two excellent resources for millennials with an interest in financial freedom. The first is a playbook to guide you to financial independence from a millennial who has achieved it. The second is a play-by-play memoir from a millennial who […]
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Today’s blog post comes from Mrs. Waffles on Wednesday, an occupational therapist with a penchant for travel and volunteering. In just a few years, she has found ways to venture into far-off places to offer help where it’s needed most. We heard about some of the adventures she and Mr. WoW have had when we cruised to Cuba together in the fall of 2018. I asked if she would be willing to write up a guest post that spoke to […]
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“I think we are at or near peak FIRE” – J.D. Roth of Get Rich Slowly He then postulated that when the next market crash comes, and we know it will (and we did see a drop of about 20% in the US stock market since then), a lot of people who thought they had achieved financial independence would realize they are not actually FI. J.D. was the moderator of FIRE panel at FinCon18 that included Pete of Mr. Money Mustache, […]
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Today is “Give to the Max” day up north here in Minnesota, a perfect day to showcase a topic that is near and dear to my heart and the heart of my friend from ESI Money. I’ve talked before about wanting to build up a sizable giving fund before retiring early, even it means this last year or two of work is more for the benefit of others than for me. I also donate half of my profits from this […]
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Today’s guest post comes from the young man J.D. Roth likes to refer to as the “wonderkid” Cody from Fly to FI. At 21 (he’s now 22), I believe he was the youngest attendee at Camp FI Southeast the weekend we were all there. You may wonder how he earned that nickname. Simply, he knew all the financial independence lingo, had graduated college early, started a disc golf company, and could speak about it all more articulately than I could […]
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This is a classic post from The White Coat Investor that addresses the fact that Financial Independence, and your progress towards achieving it, can be a fluid situation. Some people feel you should focus solely on your income, particularly if you’re a high-income professional. Dr. Jim Dahle looks at the flip side and the double impact of increasing or decreasing your annual spending as it relates to the amount of money you actually need to call yourself financially independent. This is […]
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PoF: I’ll start today’s post with a quote from Ether to FI’s very first guest post. “Hello FIRE nation. I am E.T.F. You are probably wondering what happened to the missing “RE” in my name. That was not an accident. I will probably have many different occupations in my life, but I am on a mission to find work that I love. Charlie Munger working at 93 is my inspiration.” -Ether to FI It seems he may be […]
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Today’s guest post comes via Peter Koch who also shares his stories and thoughts with a growing readership on his popular blog, Seller at Heart. Peter is an international serial entrepreneur who has run a variety of businesses both online and offline. The father of two and huge basketball fan has now reached financial independence, and he often ponders what to do with his newfound freedom and time. What will you do? Let’s explore some options with someone who contemplates […]
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Today’s Saturday Selection from The White Coat Investor describes a number of ways for you to feel like a rich person, even if you’re one yet. Going through the list, I can check just about every box. I could probably add a few items, too. “Rich” means different things to different people, but in this case, the good doctor is referring to material wealth. Try a few of these tips to feel rich and eventually, you’ll probably end up actually […]
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Today’s Saturday Selection comes from Passive Income MD, and it will totally change what you think of as “getting to third base.” Baseball analogies are everywhere, as the good doctor points out, but we don’t have them for the FIRE community. Well, not until PIMD wrote about them, and now I’m sharing them with you. As always, this post originally appeared on Passive Income MD. Rounding the Bases of Financial Independence As a child, very little filled me […]
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Today’s post is a guest post from fellow Minnesotan Erik who runs the blog and podcast The Mastermind Within. On his site, he shares tips and strategies to unlock your full potential in the areas of personal finance, self-improvement, and entrepreneurship. He loves to help others, and uses his site as an outlet for this passion. In this post, Erik shares how he created a passive income stream of $15,000+ a year after finishing grad school and commanding a high salary, […]
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Hi all – I’m Liz, the Chief Mom Officer, and I’m so happy my friend Physician on FIRE has invited me over to the site today to talk all about one of my favorite topics – overcoming challenges on the way to Financial Independence (FI). In fact I like to say I’ve been pursuing it for 20 years now. I’ve been an avid fan of all things personal finance and investing since I was a teenager, reading The Wealthy […]
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