I don’t have a FIRE number and there’s a reason for that. I don’t want my goal to be a certain dollar amount. I want my goal to be a certain lifestyle. As I wrote in my About page, my goal is to get to the point of financial flexibility so I can explore other opportunities without financial burden to myself and my family. Truthfully, I don’t know what the FIRE number would be to get me to that financial…
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Financial independence, according to Wikipedia, is the status of having enough income to pay one’s living expenses for the rest of one’s life without having to be employed or dependent on others. In other words, do you have enough money to live without working? Majority of the population is a no. But if you are able to say yes to this question, then you have reached financial independence. You are not dependent on a job to financially survive. First of…
Goals are those milestones you want to reach in the timeframe you set yourself. There are many types of goals you will set in your lifetime such as career goals, financial goals, family goals, travel goals, etc. Setting goals and plans is key to achieving financial independence but you have to be strategic about it and develop a plan. In my early years, I always had a dream about becoming rich, hitting the jackpot. Yes, that is a goal but…
When I think about real estate, I think about the home I live in, the home that I purchased for my family, and hopefully a home that it will appreciate in value. Buying a home to live in is an investment. Real estate is one of those assets that typically appreciates in the long run and when you do sell, hopefully you will see a gain. Real estate investing is what I consider a long term investment. When I hear…