Rounding the Bases of Financial Independence


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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House Hacking: A Lucrative Passive Income Stream for Young Professionals

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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Chief Mom Officer: Overcoming Obstacles to Achieve Early Financial Independence

bad euchre hand

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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Ether to FI: Mrs. E.T.F., Are We on the Same Page?

Today, we have the fifth installment from our anonymous friend E.T.F., an anesthesiologist out there in the ether working his way to FI. His goal is $3.3 Million in ten years, and he’s been documenting his journey roughly every other month here on this site. Today, he invited Mrs. E.T.F. to answer some money questions to gauge how compatible their financial intentions are. How is it that I’ve written hundreds of blog posts and haven’t had my wife chime in […]

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How to Achieve Financial Independence Spending $200K Per Year

FI 200k

Today’s Saturday Selection is a bit of a jaw-dropper from Passive Income MD. I’ll be honest. It’s a lot easier to become financially independent when spending $60,000 to $80,000 per year than it is when your annual expenses are two to three times that! There are some reasons that PIMD’s numbers are much higher than mine. He lives in southern California; I live in Minnesota. He pays absurd southern CA prices for everything, including a mortgage and childcare. I own […]

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Six Months of Part-Time Work. Or How I’ll Save $60,000 on Taxes in 2018.

Reykjavik Duck

Today is  Tax Day. To commemorate the event, I’d like to share with you how I plan to slash this year’s tax bill by upwards of $60,000, or nearly double what my salary was 13 to 16 years ago when I worked about three times harder as a resident physician. Half a year ago, I executed a bold move based on a decision I couldn’t have imagined I’d be making in my early forties. I made an intentional choice to […]

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What is fatFIRE?


Four years ago, I didn’t know what FIRE was. I mean, I knew what fire was — something to gather ’round to drink beers, tell stories, and burn marshmallows. But I was oblivious to the acronym that has since become life changing: Financial Independence, Retire Early. Now, four years later, you could say FIRE is my middle name. Except you’d be wrong. It’s my last name — “on” is my middle name. But that’s neither here nor there. I’ve learned […]

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One House. One Spouse. One Job.

PoF Second home

Today’s Saturday Selection comes courtesy of The White Coat Investor. I believe the title may be Dr. Dahle’s version of One Bourbon, One Scotch, One Beer. Picture yourself around a campfire near Lake Powell and sing it with me, “one house… one spouse… and one job. Now ain’t seen my wakeboat since I don’t know when…” To be honest, I haven’t followed this advice very well. I’ve had several jobs and we once owned five homes at the same time […]

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He’s Financially Independent! [If He Moves]

austin texas sign

Passive Income MD lives in sunny southern California. There’s a lot to love in the seaside cities of SoCal, and then there’s the cost of housing. The good doctor has realized that his house payment would disappear if they lived practically anywhere else in this great nation, save for a few select cities where houses similar start at about a million bucks for anything halfway decent. So… should he move? As always in our Saturday Selections, this post originally appeared […]

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Rest in Peace, E.T.F. A Love Letter from a Dead Man and a Net Worth Update

Today’s post is the fourth installment from the anesthesiologist in his first year of practice with a plan to reach financial independence within a decade. He’s got a goal of $3.3 Million, or enough to have an allowance of $100,000 a year with a very safe 3% withdrawal rate. He’s seen hardship in his personal life lately, which prompted him to pen this piece. Read on for his love letter and an update on his progress towards financial independence. Rest […]

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Be an Owner, Not a Consumer, to Achieve Financial Freedom

wallet tape measure

This week’s Saturday selection comes from WCI Network member Passive Income MD. He has recognized that a change in mindset and habits can make financial freedom much more likely. This post was originally published on Passive Income MD.     Be an Owner, Not a Consumer, to Achieve Financial Freedom   Recently I read a book on finances and entrepreneurship, The Millionaire Fastlane by DJ DeMarco, and the author gave an excellent piece of advice. He said, “Be an owner, not a consumer.” […]

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14 Milestones to Celebrate on the Path to Financial Independence (and Beyond!)

Steak Dinner New Orleans

I’ve got a great one for you today. The White Coat Investor gives you lots and lots of reasons to party as you advance in your career surpassing one financial milestone after another. If I had celebrated this often, I’m not sure I’d actually be financially independent, but one can certainly celebrate without breaking the bank. Most of these waypoints passed us by unnoticed. That’ll happen when you stumble into financial independence like we did. Where are we now? At […]

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Ether to FI: Home Days & Net Worth Update

Home Days

Welcome to the third installment from Ether to FI, an anesthesiologist chasing financial independence. He finished residency and started his first job as an attending physician just over six months ago, and he has a goal to hit his FI number of $3.3 Million within a decade. The floor is yours, E.T.F.   Let’s get philosophical for a minute. Do you have a why?   It took a conversation with my toddler to define why I am chasing financial independence.  […]

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Ether to FI: Obeying WCI’s Ten Commandments & Net Worth Update

ETF portfolio

Back in July, we met Ether to FI, an anesthesiologist, father, and husband just starting his career as an attending anesthesiologist. Several months have passed, and the good Dr. E.T.F. has updated his net worth worksheet and written an excellent article detailing his compliance with the Ten Commandments of my business partner and mentor, Dr. Jim Dahle of The White Coat Investor. As you may recall, E.T.F. has a goal to reach FI faster than I did (which was about […]

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Financial Independence With Kids: How Procreation Impacts FIRE

Ecuador Galapagos Beach

Having recently spent nine days away from home at not one, but two mega-conferences, I was happy to be home and eager to wake up last Monday morning to get my boys ready and off to school. It’s not often I look forward to a Monday morning, but after a long stretch away like that, I start to feel disconnected from my normal life. My wife joined me at FinCon, which was awesome, but our boys are such a huge […]

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Top 5 Reasons to Work After Financial Independence

Holmsvollur Golf Course

I was browsing the Bogleheads forum recently, and my eyes naturally gravitated to the thread titled “What is FI if you love your job?” The short answer is that FI is financial independence. Nothing more, nothing less, and it doesn’t look any different if you love, hate, or feel indifferent towards your job. The long answer, after learning that the man asking the question is about 10 years away from FI, includes the fact that the person or the job […]

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The X Factor

WCI meditation

Today’s Saturday Selection is a re-publication of the first “instant classic” post after more than five years of White Coat Investor posts. There were numerous comments that it deserved the immediate promotion. Read on and I believe you will see why. As always, this post originally appeared on The White Coat Investor. Dr. Dahle, please tell us about this thing you call The X Factor.   I spend a great deal of time on this site imparting knowledge. You know, […]

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Second Generation FIRE

2nd generation FIRE

A couple of months ago, I was chatting with Jonathan and Brad of ChooseFI just before we started recording a podcast. They asked if I had been listening to their shows, and I really, really wanted to answer in the affirmative, but the truth was I hadn’t listened to a single episode. I have since rectified that situation, first listening to my own interview, and subsequently listening to most of the material they’ve put out so far. I haven’t been […]

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Can a Bear Take Away Your Financial Independence?

bear market alaska

You did it! You worked, you saved, you conquered. Your investments add up to 25 times your expenses, or 30 times, or whatever your magic number is. You have achieved financial independence, however you have chosen to define it. What’s that low rumbling sound I hear? Is that a bear coming out of hibernation? I won’t pretend to know when it’s coming, but I promise you I haven’t seen my last bear market. It could start next month, next year, […]

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Introducing Ether to FI: A New Attending Striving for Financial Independence

ETF Net Worth

This is the first of what I expect to be many posts from a reader who reached out to me eager to share his path to Financial Independence in real time. I’m excited to introduce you to our new online friend who will be known as Ether to FI (E.T.F., for short). E.T.F. and I have a lot in common — we are both anesthesiologists, husbands, and fathers with an interest in personal finance. The big difference? E.T.F. is just launching his […]

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