The FIRE community has always been about getting to the point of financial independence as quickly as possible and then retiring, at least that’s what popular media would have you believe. At least that was my initial impression because having to trudge through to your day job isn’t fun for many people. The money-twitter and side-hustling communities would lead you to believe that you have to do everything possible to get rid of your 9-5. Having a 9-5 isn’t a bad thing, at least not for everyone.
What is an FI Number?
The world of personal finance is filled with all sorts of terms and definitions with the holy grail being financial independence, that magical point where you are not bound to your daily grind. Over the last 30 years, there has been a movement around financial independence called FIRE (Financial Independence, Retire Early), which essentially comes down to being well off enough that you don’t need to work to be able to live a comfortable life (AKA retiring). This is where the FI or Financial Independence number comes in. What is an FI number? The net worth at which the annual growth of that net worth by itself covers your annual expenses. Simply put, when you hit a magic number in your net worth, it will allow you to live off what you have saved up for the remainder of your life. Calculating this number can get complicated if you want Continue Reading
Balance – I’ll take that with a dash of normal!
Last weekend we did something we haven’t been able to for a couple of months, we got out of town to go camping. For us, they just opened up the campgrounds with restrictions and since we already had a booking, we took advantage of it. Now I have to add a little context, our ‘camping’ is taking the RV which has not only a bathroom, but a stove, a shower, and most importantly air conditioning! I should adjust my earlier statement, we went glamping! It was a very nice change from being locked down in the house, we went hiking, cycling, and swimming. It was great! There was a distinct feeling of normal on our trip which was much needed. With everything that has been going on in the world a little bit of normal and balance were just what we needed. It got me thinking more about balance and Continue Reading