Thursday, July 19, 2018

Starting My Road to Financial Independence: What is FI?

This is the beginning of my road to financial independence, which will be referred as FI for the rest of this blog series. Future editions may have podcasts. I'm not really concerned about the RE or early retirement portion of FIRE because I actually enjoy working. Right now I'm working my way towards my Masters Degree in Accounting, I currently have a BBA in Finance and currently work as a Bookkeeper/Staff Accountant at a small accounting firm in Troy, MI. A little bit about me. I'm 27 years old, salary is 32,000 a year, debt is near $5,500, investments around $4,000. A more detailed post will be coming soon about income and expenses. Many of you might be asking, what the hell is FI? FI is Financial Independence and the second part of that is RE (Early Retirement) and combined they are FIRE (acronym). Financial Independence doesn't mean you have to retire early or just sit around on your porch drinking coffee and eating Twinkies all day long, it just means you have the option to retire early and that your living expenses are covered and all debt is paid off. More details on my journey to FIRE will be coming in the future, including travel hacking, what to do for more income, and relatable stuff to FI.