A chance comment from a friend sent Meagan down a rabbit hole. In this article she details many different scenarios for reaching FI and her family’s post-FI lifestyle.
Kate has her eyes firmly on her goal(s): reaching financial independence in now two years; and living a life she doesn’t need a vacation from. Congrats for the achievements so far and for 3 years of blogging!
“It’s a bad plan that cannot be changed” says an Italian proverb. A young FIRE blogger from Norway had the ambitious plan to retire within 5 years, when he would be 36 years old. He wrote down a detailed plan how to realise this goal. Now, a little over half a year later, the blogger changed his plan. He reduced his FIRE number, i.e. the amount of money he thinks he needs to retire early, and also touched a well-known…
An introduction to Financial Independence and early retirement by the Monk. He gives one “fair warning: once you start reaching for FIRE there may be no going back.”
Route 2 FI adapts his plan to retire in his mid-thirties. He takes into account the fact that he will still earn some money when FIREd along with his frugal lifestyle – under 20 000$ annual spending in an expensive country like Norway!
After paying back credit card debt (if you have any), build yourself a compounding machine. Patience is key once you have set up the machine, as The Escape Artist points out.
Hustle Escape delves deeper into his reasons for pursuing FI and explains why his 2025 deadline is non-negotiable.