So I came up a post on why I want to walk away from making $4M + dollars, but now I am going to write how I plan to do this. Well, first off, I have a new goal!!! HALLELUJAH! It’s called FIRE (Financially Independent and Retire Early). Thanks to my love of reading, reading blogs, and learning about personal finance, and writing, I was able to find the Personal Finance Blogging world!! And from this, I was able to learn about FIRE. The beauty of FIRE is that you can go all in like Mr. Money Mustache who saved up to 70% of his income with his wife or start off slowly and work your way there like Fiery Millennials who was working Full-time and saving and investing. I love reading both their blogs! 🙂
For those of you (and to give credit to those who inspired me) who are interested in finding some good blogs on Personal Finance, FIRE life, or how to get a side hustle (make extra $) check these bloggers out:
Afford Anything: For some great advice on how to use Real Estate as a passive stream of income when you are on your way to retiring early or just to have as an extra set of income! Paula (AA Blogger) also has really great advice on Personal Finance in general. I absolutely love her blog and podcast!!
Mr. Money Mustache: He has SO MUCH GREAT ADVICE. I highly recommend checking out his blog! I love reading his posts and pick up money-saving habits he has posted on. One great example: using your bike for transportation more often than your car. Save on gas and get a workout. Win-win.
Fiery Millennials: I was drawn to Gwen’s blog because she is a Millennial just like I am. It is nice to hear someone my age who has the same goals as I do! And a bonus is she is also in the business-corporate world like I am. Similar starting points. She has a podcast with J from Millennial Boss called FIRE Drill Podcast. Pretty clever title 😉 !
Millennial Boss: J writes about a good mix of things involving FI life. I love that allows others who are living the FI life write a post in her blog to share part of their story. I am learning lots of tips and tricks from hearing how others live and save $$! It’s awesome hearing about the bloggers/FI community from the Bay Area (where I’m from). She has SO MUCH information – I can go a whole day reading her blog non-stop.
The Mad Fientist: He has some great podcasts to check out. His blog posts and podcasts have helped me stay motivated and learn of new ways to save and invest. He does a great job at diversifying his podcast by having other FIRE guests come on the show to share how they achieved the FIRE lifestyle or are trying to achieve it.
I will definitely add more as I go on!
So back to my original question – how am I going to achieve FIRE? Well I wrote down some initial ideas (mini goals) to reach the ultimate goal:
- Write out the end goal
- Save up an emergency fund
- Pay off debt (Student loans, credit card, car, etc.)
- Create Passive Income
- Cut out the crap – the money-sucking crap
- 401k Set-up (Ask if your company matches..! Free retirement money!) 😉
- Get a side hustle (or 2 or 3)
I will create a separate post with how I will attempt each of the above bullet points. In all honesty, these are some goals I set now. I am so young and believe these goals will change as I go…which is completely fine! I am glad that I am just jotting this down now and setting out big goals to get me closer to becoming truly financially independent. Wish me luck!! AND if you are interested or have additional advice, please add to the comments below. 🙂