Financial Independence versus Financial Freedom

Financial Independence is a wonderful thing. I frequently sing its praises, and I am proud to have achieved the milestone for myself and my family. Having attained FI completes half of the FIRE acronym, and I’ve got plans for the RE part soon enough. I haven’t pulled that trigger yet, though, have I? Why not? After all, by definition, I’ve got Enough. I could have given notice a year ago and maintained our lifestyle indefinitely. But the truth is I’ve […]

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The Live on Half Challenge

Castle Rock UP

Live on Half.   It’s not a suggestion or a recommendation. It’s a challenge. If you can find a way to meet this challenge, you will be rewarded handsomely. How so? Living on half of your take-home pay, or to put it another way, saving and investing as much as you spend, should lead to financial independence (FI) in roughly 15 to 20 years. Work becomes optional. You can live the rest of your life on your own terms. That’s a reward that […]

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Top 5 Ways to Derail Financial Independence & Early Retirement

Does the concept of financial independence appeal to you? Would you like to have the option to retire early? Great! Me too! One of my goals is to help give you the knowledge and motivation to help make FI a reality. I’ve talked about why you might want to retire early and how to go about it. I would be remiss if I didn’t talk about how not to do it. Presenting, the Top 5 Ways to derail your FIRE plans. […]

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Top 5 Reasons to Achieve Financial Independence

Welcome to another Top 5 list, the Top 5 Reasons to achieve Financial Indendence (FI). I’ll admit, it wasn’t easy whittling this list down to 5.   1. Give yourself options. Being FI, you’ve got a nest egg that should support you indefinitely. Work becomes optional. That’s right, you can choose how to spend your days. If you’ve longed for a 3-day workweek, now is the time to make that a reality. If you’ve wanted to do some teaching or […]

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My Path to Financial Independence

In My Story, I talked about the life circumstances that led me here, to create this blog after achieving financial independence.  I didn’t give many details as to how that happened financially.  I didn’t keep great track along the way, and didn’t know 10% of what I now know about personal finance, but I’ll do my best to recreate my path. I could go back, way back to 1st grade, when I dominated the Iowa Basics.  Or the glorious junior […]

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“It’s Good To Be King” The Benefits of Financial Independence

Financial independence is a great life goal with many tangible and psychological benefits.  Before we get into those, it’s important to establish how one determines what it takes to be FI. It’s difficult to reach a destination if you don’t know how to get there. You need to have a plan. You also need to define what that destination is, exactly. Finally, what will you do once you arrive? Do you have specific plans or are you just going to […]

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What Do You Mean, “On FIRE”?

backyard fire

I am the Physician on FIRE.  No extinguishers required, I’m not about to stop, drop, or roll.  In this case, FIRE is an acronym, as in, Financial Independence, Retire Early.  I discovered the acronym about a year ago and learned that a whole bunch of good people on the internet have been dispensing valuable information on these two separate, but related topics of Financial Independence and Early Retirement.   Why the Physician on FIRE blog?  After all, there are hundreds […]

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