Well you guessed it, as I am talking about reaching financial independence once again. I am posing this question today, will you achieve financial independence before age 65? Well the jig is up and there’s a ton of examples online of people who actually reached the imaginary Financial Independence before getting grey hair.
This is my goal and it should be everyone’s lifetime goal also, because long gone are the days people worked for 40 years dedicated to a job who can easily replace any of us with the next person. Granted I am not telling you to stop working forever, I am just advising you that you can work on your terms when you reach this next stage of life. What a fun stage it can be, don’t you agree?
Below is the list of bloggers who already reached Financial Independence.
Will you Achieve Financial Independence (The FI Group):
Root of Good
These guys took the plunge and were not afraid to live life differently than the average person. They have freedom to get up and do as they please everyday of the year. Some of them even travel on extended life vacations outside of the US.
If the markets tank and things go south financially for any of these guys above, they can just fix up the resume and get back to work again. If that doesn’t pan out, they can go the self employed route, and start a business of some sort. If you know how to bring value to any market space you can create income anywhere you live.
Below these bloggers didn’t reach FI yet but they have over a million dollars in Net Worth:
Lets give a hand clap for these folks above who finally reached a million bucks and are still employed.
If you live by the quote below I believe you can reach any Freedom you desire.
The man is richest whose pleasures are the cheapest.” —Henry David Thoreau
Milestones Before I take the FI Plunge:
- When passive income exceeds expenses
- No debt of any sort
- A detailed plan for extended vacations
- A buffer of at least 15% asset growth for Safety Net & inflation protection
I will not stop working before any of these milestones are achieved. I know the road towards independence will be extremely difficult to achieve, but it makes it better to see people who already completed the impossible. I have written about my plans for freedom in greater details here.
If you are aware of others who are already financially independent and blog about it please let me know so that I can read up on their journey towards freedom.
In any event I know there are probably thousands of examples of people reaching FI who necessarily do not want their info made public knowledge so they stay low key. That is great and I know they are happy for their accomplishments and congrats on staying low key.
What are you doing today to reach Financial independence?
Comment on will you achieve financial independence?
Rich Uncle EL
Pic courtesy of Freedigitalphotos.net by Stuart Miles
I hope to reach FI by 35 (or semi-FI at least). I'm doing well for my age ($150K net worth at 23), but it'll be a long slog from here to there.
My recent post How Much I Spent For A Weekend in NYC
I think that is great, you are almost FI and as you’re income increases you will shave off years hopefully. Keep us all updated on you’re progress.
I am almost 10 years away but hoping semi-FI might be an option for in awhile. I enjoy the message boards at ERE and MMM to keep me motivated.
That is awesome 10 years will go quicker than expected and if the market goes up you'll probably reach goals in 8 years as compound interest works wonders.
My recent post The Real way to get out of Debt
EL,
Great quote by Thoreau, hadn't heard of it yet!
To me reaching financial independence isn't a question of if, but rather a question of when. If you save as much as possible there's not doubt in my mind that one day you'll become financially free, but the time frame in which you manage to will depend on your attitude and agressive saving behaviour.
Thanks for sharing,
NMW
My recent post Savings Rate for March 2015
I couldn't agree with you more. The dedicated savers will be free sooner rather than later. I am hoping for a market correction soon, as to build up my dividend portfolio to allow a greater dividend income to speed up the process. Good luck to you.
My recent post The Real way to get out of Debt