Financial Independence 101
I’m so glad you’ve decided to begin your journey toward financial independence! You’ve just taken your first step towards becoming one of society’s elite, armed with the knowledge and skills to master your money and time.
But be warned – this program is not for the weak. If you expect to reach financial independence without putting in any work, this program is not for you. You’re better of joining your friends in complaining about how bad the economy is or how you never have the money or time to do anything fun.
This program is for those committed to doing work now so they can have freedom later.
If you just want an overview of financial independence or need to be offline for awhile, I’ve made a nice little ebook that you can download below (free, of course). It goes over the essentials of getting your finances in order and starting your path toward financial independence. There are also lots of actionable tips I recommend you start today!
I decided to make this little series of posts because I found personal finance and financial independence all very overwhelming at first. It seemed like there were all these buzzwords being thrown around as if I should know what they were! I mean, how was I supposed to understand words like “capital gains tax” or “4% rule”?
So in this series, I’ve done my best to take someone from level 0 to beating the game in a clear and organized way.
By the end of these posts, you probably won’t even recognize yourself. You’ll have a goal and a plan to get there. You’ll be disciplined. You’ll be one of the fewtrained in the rare art of financial independence. And most importantly, you’ll understand how to make your money work for you, no matter what your circumstances may be.
If you have suggestions on things that can be added to the series or have any questions, I’d love to hear them (just go to the Contact tab in the header and shoot me an email).
Now let’s get started…
Chapter 1: Intro to Financial Independence
In this post, you’ll learn all about the basics of financial independence. Hopefully, you get inspired too! My nerdy side definitely comes out a little in the post, so try not to judge too much.
Chapter 2: Why Compound Interest is Key to Your Success
Hopefully you’re a superhero fan. If not, the “yellow sun” is basically what gives Superman his powers. Compounding is a huge part of building wealth and reaching financial independence. So at the very least, you should understand what it is and why it’s so useful!
Chapter 3: Predicting Future Wealth With Compound Interest
This next post is a little math heavy, but I take it step by step, so you shouldn’t have any issues with the numbers. I’d suggest reading through this post just to get a good idea of how the calculations (hope that word didn’t just put you to sleep…) work, and then come back to the post as a reference whenever you are trying to predict how much money you’ll have in X years with compounding. It’ll make your predictions much more accurate.
Chapter 4: Setting Your FI Number!
You’ve finally made it! You’re about to learn how to calculate the amount of money you’ll need to consider yourself financially independent!! It’s an interesting one, so sit back and enjoy!
Chapter 5: Where to Put Your Money
You know you need to save, but what do you do with all the money your saving? In the next post, you’re going to learn all about your investment options – there really is no right answer here, as long as you invest in something that gives you a nice return on investment! Your investment choice is completely yours!
Chapter 6: Giving Money Away is Taxing…
I don’t do anything halfway. That’s especially true with this 8000+ word post on the different types of taxes you pay in the US. I don’t just brush over them – I go into detail about how they work and how much you have to pay. Are taxes boring? Maybe. Will understanding the basics of how they work help you save a ton of money over your life? Most definitely.
Chapter 7: Learn to Pay Less Taxes
Learn how to stop paying so much in taxes by investing inside of the right accounts! By using legal tax avoidance methods you can keep more of your money and reach financial independence even faster!
Chapter 8: FI? Well What About…?
“You always fear what you don’t understand” (excuse the Batman reference). By now, I’m sure you have some questions about how feasible financial independence really is. What if the stock market crashes? What about health insurance? Well, I’ve taken the liberty of answering these questions in the following post. “Baby, don’t worry – about a thing…”
Chapter 9: Taking the Fast Track to FI
You now understand the main paths to financial independence. But wouldn’t it be better if you could get there faster? I mean sure we should enjoy the journey and all, but FI isn’t the end – it’s the beginning of a whole new type of freedom! Here’s what you should focus on in order to start your ‘new life’ sooner:
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