All tagged financial independence
"I've never wanted to be a lady who lunches; I've always wanted to be a woman who works."
Financial independence is about living life on your own terms. Money is a tool, it’s neither good or bad. Sometimes though, money can make people feel trapped, especially if it’s money that is not your own. If you are up on your royal family news, the Duke and Duchess of Sussex, aka Prince Harry and Meghan Markle, announced that they are “charting a new course” with how to find the balance of being part of the royal family while also leading separate, independent lives. This appeared to be an unprecedented move from “senior” royal family member, basically denouncing a part of their royal responsibilities. What struck me about their decision and goal was the additional phrase that they needed “to become financially independent.”
A wonderful gift may not be wrapped as you expect.
The holidays are a upon us and with it the struggle to find that perfect present. Maybe by now, you’ve told your parents that you don’t need anything. “Please don’t get me anything.” Well, perhaps, it’s time to re-think your holiday wish list and instead ask for a few items that will get you to financial independence sooner. These may be some items you’ve never thought about because when we think of presents, we normally always think tangible items. If you are tired of getting another sweater, time to ask for something better this year. It’s never too early to start planning for your financial future. Whether you are in high school, college or just starting out, a little financial help can go along way.
”Play is our brain’s favorite way of learning.”
I thought I would sit down and see how we can gamify the journey to FI based on existing principles of how to engineer an addictive gaming experience. A game takes effort, takes time and takes a bit of strategy. In a similar vein, managing and optimizing your finances requires as much effort especially if you want to do the unconventional and reach the level of financial independence.
I wanted to share with you this episode of Journey to Launch where I chat with Jamila Souffrant about the relationship between financial independence and sustainable living. I’m very excited to share this. Listen to it on your favorite podcasting platform or click here.
“A goal should scare you a little and excite you a lot.”
This past weekend, my husband competed in his first ever half triathlon, let alone his first ever Half Ironman. To say that I am awed and inspired my him and all of the other athletes is an understatement. As I was watching the entire race play out before me, I couldn’t helping think about some of the similarities to the Journey to Financial Independence. So here are my thoughts.
We recently created these postcards as a friendly reminder of the many things we can do today to set ourselves up for financial independence. The 3 Guidelines of Personal Finance is Spend Less, Earn More and Invest the Rest. These are what I also call the 3 Wealth Building Strategies. Do all 3 and you are sure to have a sizeable nest egg to help you fulfill your dreams, but I am going to change the order a bit and actually make it Invest First, Spend Less, Earn More.
The point of FI is social enterprise. Do you agree or disagree with this statement?
Perhaps, I am being idealistic with thinking that the point of financial independence is social enterprise, but what is the point of putting yourself in a position of financial security, of having time to do what you want? Is the freedom that we all crave all for the sake of building our own islands, separate from everyone else? I would think such a life to be boring and unfulfilled.
It has always been my parents intention to retire in the Philippines. I have never known them to say otherwise. This year, they will return to our home country and setup a new life there. It’s been an eye-opening experience to watch my parents plan and finally make this goal a reality. I am happy and sad at the same time. Happy that all of their hard work will allow them to do this. Sad that we will be many time zones apart.
Doing so will allow them to take advantage of a concept called geoarbitrage.
