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Financial Independence (FI) Equals Freedom

Financial independence can mean different things for different people. The simple definition is basically having enough wealth to live comfortably without needing to work. When you’re not required to work a 9 to 5 to put food on the table or put a roof over your head you get this overwhelming feeling of freedom. A weight is lifted and you realize just how valuable your time is.

Just setting a FI date, a date where you plan to hit your FI number, can be scary on one hand but on the other provide peace of mind about your future. I previously mentioned the FI number and some may not know what that is. Your FI number is the number you calculate using the 25x rule. You can calculate your FI number in many different ways so I’ll go more into this subject on the Strategies page.

Now just because you reach FI doesn’t necessarily mean you have to retire. The F.I.R.E moment adds the “Retiring Early” at the end of Financial Independence because it’s certainly an option at that point. I’m not one to spend all of my free time on leisure activities. Staying active and finding other means of producing income comes naturally and is still satisfying to me. The difference is that once you reach FI you’re free to stop whenever you like.

Are you looking to become financially free and if so, why?

How do you plan to achieve FI?

What kind of lifestyle do you wish to have when you reach FI?