Financial Independence

Finance independence!!!! Lately I’ve been pondering on this, and have been soaking in many information shared by bloggers that have reached this state and are retired from the workforce. Just like how I stumbled upon the secret club of miles/points, I found out there is a whole set of people who have reached financial independence and early retirement, and are blogging about their experiences and ways to follow their road map. OMG where have I been? Most if not all of the successful young retirees all have one thing in common: They live well beneath their means and save aggresively. Too often we find our lifestyle inflating along with the increased income as we progress in our career. We chase trends, hypes, new gadgets, vacations (I’m guilty as charged), new cars, bigger houses, etc. But at the end of the day, are we happier by possessing those material things? Do they provide long-term satisfaction? The answer is probably no.

Even though I’m late in the game, it’s better to be late than never arrive. I’m super excited about how this goal will change is changing how I spend, save and invest (sigh…gotta cut back on vacations). Some of my family members think I’m crazy and weird for thinking about retirement for a 30 something single female. What do they know. I’ll be traveling the world and laughing at their 9-5 day job and 3, 4 weeks of vacation upon reaching my goal. =P For starter, I vow to save and invest 50% of my income (cringing), fully fund my 401K and IRA, and stop buying junks and random gadgets (goodbye home renovation). I have this crazy idea to reach my goal and retire 10 years from now! Maybe my ADD self will find something else to work on and gradually forget about this goal, but in the mean time, a girl can dream. 🙂

Here are some intriguing and super informative sites that I’ve been visiting:

GoCurryCracker

Mr. Money Mustache

jlcollinsnh

What are your life goals and aspirations?


2 thoughts on “Financial Independence”

  1. This is an interesting topic and something my fiance and I deal with. We currently rent a condo (so losing X amount of money a month with no return) and are looking into buying a house. A lot of our friends decided to buy a starter house so their money goes toward something. Though when you do the math, you’re better off just getting the house you want. With closing costs, the fact you don’t make your money back on a house for a while, etc. While a lot of people don’t have that luxury if you can save up enough, it’s the right way to go.

    But past that, we only spend money on travel (and use points and miles to do that). Everything else we try to cut back on as much as possible and it’s nice to save up a lot of money that we didn’t think we could do in the past.

    1. Hi there. Interesting that you brought up the topic on buying/renting. And it’s even more interesting to note that actually a couple of personal financial bloggers would actually advice against buying (e.g. J Money with Budgets are Sexy, Jeremy/Winnie with GoCurryCracker to name a few). At the end of the day it’s really a personal choice. But a common message is only buy what you can afford/need, and as as cliche as it sounds – don’t keep up with the Jonese.

      It’s a nice feeling knowing you’re in control of your finances instead of the other way around. Keep it up and travel on. 🙂

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