I’m excited to publicly announce that I’ve decided to quit my part-time job and take the leap to “full-time” entrepreneurship. I was originally planning to wait until the summer of 2021 to quit. In this post, I share why I decided to take the leap to entrepreneurship now.
I’m excited to share a Slow FI interview from Michelle (who writes the blog FIRE and Wide). Michelle took a Slow FI path to reach financial independence and now realizes that she could have transitioned even earlier.
In order for travel to be affordable, we need to plan ahead. The biggest three travel costs – accommodation, transportation, and food – are the biggest three expenses. If we plan ahead, we can cut those costs significantly. Surprisingly, planning ahead can even make a trip more enjoyable.
Getting ourselves into a better financial position is important. It’s equally important to focus on improving our current circumstances while we do it. It could take a few months or years to get us into a financial position to transition. We can actively focus on improving our current circumstances while designing lives we love.
For people pursuing financial freedom, reaching full FI can be such a temptation (even for myself at moments). This is why I’m always interested in hearing the stories of people who are choosing to downshift along the way to FI. I’m so excited to share Court’s story. Court and her family were less than 1 year from reaching full FI when she decided to downshift and take a part-time job.
There are so many things that we’ve learned in our second year of pursuing financial independence! One reason I love blogging is that it’s a great way to chronicle my own journey and mindset shifts. Writing also helps to solidify those mindset shifts for myself.
Our plan to reach FI is not to deprive ourselves to build up a nest egg so that we can relax later. And to be clear, our journey to financial independence is not about early retirement. We are not looking to not work or sit on a beach for 50-60 years. Instead, this journey is about lifestyle design, freedom, flexibility and security. We plan to take very intentional actions so that we can adjust our lifestyle along the way. Here’s a detailed look at what our plan currently looks like.
My goal is to leverage my passion hustles to build our ideal lifestyle over time. Ultimately, I want to get to a place where when we actually hit our FI number, we don’t need to change anything. We will already be living our ideal life.
Chris has a very unique story. According to the numbers, he actually achieved FI (25x his annual expenses) in 2015. However, financial independence wasn’t yet part of his vocabulary, and he didn’t realize what was possible. As you’ll see in this Slow FI interview, Chris refers to a moment when he “claimed his financial independence.” This was when he realized that he could start making decisions differently.