There is no doubt that the pursuit of financial independence provides stability to weather tough times. But, financial stability alone is not enough to thrive in a time of crisis. Adopting a Slow FI mindset can help us come out on the other side even better than before.
I used to be terrible at setting boundaries at work. In my last job, I was constantly chasing the next promotion and the next pay raise, so I would say “yes” to every request. Within the last year and a half, things have completely shifted for me. I decided to accept a part-time job and have focused on setting appropriate boundaries at work. Now, I have time and brain space to focus on things in my life that are important to me.
Many who are pursuing financial independence would never consider a cash-out refinance. A common approach for those pursuing FI is to pay down the mortgage early and I can relate. But, we are choosing to do a cash-out refinance and here’s why.
If I were laid off in this current economic crisis, I know I would be more mentally prepared for the challenge than I was 10 years ago. I’ve grown and learned a lot since then.
Two years ago, I experienced situations where I wasn’t in danger but my brain and body thought I was. Now, there is a very real danger. In this new reality, I am experiencing the same emotions (fear, panic, etc.) and physical sensations (shortness of breath, elevated heart rate, etc.). Heres’ how I am coping with stress during this challenging time.
There are many components to our disaster preparedness plan. It took us a few years to build up this entire plan. You don’t need to do it all at once, but it’s important to get started. You never know when you will need it.