So why are we on this journey towards Financial Independence? We believe that all of us have a higher purpose than spending most of our lives generating profit for The Man.
Right now, I work a stressful full-time job that takes well over 50 hours a week of my time. But I like my job and I enjoy the multi-faceted challenges it offers me daily. I relish solving problems and I am naturally driven to succeed at whatever I put my mind to. It also doesn’t hurt that I am well compensated for what I do.
But there is a down-side to this job and others like it. Even when I am not working, I am constantly thinking about work, projects, deadlines, and the next work trip (there’s always one around the corner) that will take me away from my family for days/weeks on end. This mind-space that modern high-pressure jobs take is rarely discussed.The mind-space that high-pressure jobs occupy even during your downtime is huge Click To Tweet
I can’t leave work at work. It follows me around, even during the weekends. By Saturday evening I am already thinking of all the things I need to do for the week ahead. There is just no switching off.
Before our children came along, I didn’t really mind working a job like this. Frankly, I was not at a senior enough level either. I never even considered what working all my life would look like. It was something that simply never occurred to me.
Just like the vast majority of people, I just assumed I would work for ever. Old age and retirement seemed so far away. But the arrival of our first baby and the immeasurable joy we experienced spending time with him changed everything.
So just as I was entering my thirties, I realised that I didn’t want to work a stressful job all my life. Now, I want to be financially independent as soon as possible. I want to have the freedom to work on my own terms. I love creative pursuits and helping others – work provides me this outlet. I will probably always work in some capacity, but it will be on my terms and without pressure to earn a salary.
There’s just one little problem – we just started saving a couple of years ago and are nowhere near being financially independent. But ever since we heard about this concept of financial independence, we have been consciously making life decisions to help us get there. It all comes down to counting every dollar.
Counting every dollar we earn
You can cut expenses only so much before life becomes a horror show of mind-numbing drudgery. So I took charge of my career and grew my salary. My wife became a full-time mom so that our kids got the best care and save on daycare.
We became expats and moved halfway across the world to earn even more. We are rocking semi-passive side hustles to explore and enjoy what we really like doing, such as blogging, all the while accelerating our net worth.
Counting every dollar we spend
“You cant manage what you don’t measure”. So we have been tracking every dollar we spend, since January 2017. Armed with that knowledge, we are cutting expenses by being frugal where we can, while at the same time splashing out on what really matters to us (like holidays).
Counting every dollar we save and invest
Those who save diligently can become rich, those who invest diligently become wealthy. So we created a simple yet robust savings and investment plan. Saving ever dollar alone wouldn’t help us reach financial independence as quickly as we want. For that our money has to work for us, invested in proven, time-tested investments such as low-cost index funds.
When the passive income generated by our investments = our expenses, we will be financially independent and no longer need to work for money. Our life becomes work-optional!
Still, financial independence is a marathon, not a sprint. It’s going to take a good few years until we can start living off our investments and this blog will be a record of our financial journey to that destination.
So tell us, what is your why for achieving financial independence? Have you started the journey already? If not, what’s stopping you? Please leave a comment below!Note: None of the content on this website is financial advice, and I am not a financial advisor. Please see the disclaimer for more information.