F.I.R.E. Financial Independence, Retire Early.
I see points and miles as a compliment to my approach to life- it makes sense to bolt these onto my foundation and get more out of life while focusing on my core goals. Financial Independence doesn't mean that you have to quit work and sit on a beach, it means that you CAN do that if you want. You can also start up your own business, take 10 years off to travel the world, or do whatever you want without any financial concerns.
To me, this must be a goal that everyone wants, but perhaps is ignored because it seems too far away. However, the journey of a thousand miles starts with a single step. I'll share some of my journey and hope you will too, and that we can reach the destination faster and happier together.
I pissed about in college, the topics and structured learning were not challenging enough for me. In the second year I only attended about 10 hrs over all semesters, I enjoyed hard work, and hard living. Despite working 70-80hrs a week I got into some debt, I think about $10-12K USD at the time.
I carried that debt for a good 6-7 years, paying off interest and fees but not hitting principal, and didn't shake off that debt until I started earning good money. My net worth went from -$10K to positive $50K in the first year of my new job in Japan.
I threw the $50K into the market and kept working hard, but I picked individual stocks and lost most of it. However, despite that dropping down considerably I earned more than enough to make up for it and push forward. This is why I am always saying stop picking stocks and get to work - there is so much money to be made from hard work. On my best day I was working a trade show in Singapore, walking booth to booth begging for business and got a call that I closed two huge deals for my company - the value was something like $300K. I kept walking the show, and begging for another 30 mins, then decided to call it quits and grab a beer with my team mates.
The most money I have made from a trade in the stock market is about $2K, and I have lost many times more than that.
When I came to the US I set up a company here, I had enough money to make it work. My solo efforts brought in 6 figure revenues and my costs were always below $10,000 per year, including renting an office. Despite the success of the business I walked away from it because I didn't feel the passion any more.
This might have been the first taste of FIRE. Or was it when I came to the US and decided to scratch build a company instead of get a job? I'm not sure..
I was my own boss, working my own hours in a very successful company, but I had issues with the ethical foundation of it, so walked away. Not unlike the feelings many lawyers experience too. There are two things you need in order to walk away from something like that - a positive net worth, and the ability to stare down your peers and say you don't want to buy into the rat race, this can include overly pushy parents and friends - luckily mine weren't like that.
As some of you might know, I am now studying to be a CFP. So I went from owning a successful business to walking away (setting up another in the interim) and going back to school. It might seem odd, but I am the type of person who doesn't want to lean on CPAs or CFPs for my own wealth management, and I also want to give back through knowledge.
I might well take a job again, as a peon, in order to learn the ropes, or I might just start my own planning firm from scratch - I am unsure. But either way I will be ready to work for 80+ hours a week, despite not needing to.
I'm not truly at a place I feel comfortable to say I am FIRE'd. I could retire now, but I would have to make lifestyle sacrifices, but I am far enough down the path to be able to walk away from a career, or a successful business if my heart isn't in it. Which is a wonderful feeling.
I'd like to start sharing more ideas about FIRE, and hearing your stories too - I couldn't give a crap about a First Class cabin if I had to go back to work on Monday.... So what do you say, are you with my on the real journey here?
I see points and miles as a compliment to my approach to life- it makes sense to bolt these onto my foundation and get more out of life while focusing on my core goals. Financial Independence doesn't mean that you have to quit work and sit on a beach, it means that you CAN do that if you want. You can also start up your own business, take 10 years off to travel the world, or do whatever you want without any financial concerns.
To me, this must be a goal that everyone wants, but perhaps is ignored because it seems too far away. However, the journey of a thousand miles starts with a single step. I'll share some of my journey and hope you will too, and that we can reach the destination faster and happier together.
I pissed about in college, the topics and structured learning were not challenging enough for me. In the second year I only attended about 10 hrs over all semesters, I enjoyed hard work, and hard living. Despite working 70-80hrs a week I got into some debt, I think about $10-12K USD at the time.
I carried that debt for a good 6-7 years, paying off interest and fees but not hitting principal, and didn't shake off that debt until I started earning good money. My net worth went from -$10K to positive $50K in the first year of my new job in Japan.
I threw the $50K into the market and kept working hard, but I picked individual stocks and lost most of it. However, despite that dropping down considerably I earned more than enough to make up for it and push forward. This is why I am always saying stop picking stocks and get to work - there is so much money to be made from hard work. On my best day I was working a trade show in Singapore, walking booth to booth begging for business and got a call that I closed two huge deals for my company - the value was something like $300K. I kept walking the show, and begging for another 30 mins, then decided to call it quits and grab a beer with my team mates.
The most money I have made from a trade in the stock market is about $2K, and I have lost many times more than that.
When I came to the US I set up a company here, I had enough money to make it work. My solo efforts brought in 6 figure revenues and my costs were always below $10,000 per year, including renting an office. Despite the success of the business I walked away from it because I didn't feel the passion any more.
This might have been the first taste of FIRE. Or was it when I came to the US and decided to scratch build a company instead of get a job? I'm not sure..
I was my own boss, working my own hours in a very successful company, but I had issues with the ethical foundation of it, so walked away. Not unlike the feelings many lawyers experience too. There are two things you need in order to walk away from something like that - a positive net worth, and the ability to stare down your peers and say you don't want to buy into the rat race, this can include overly pushy parents and friends - luckily mine weren't like that.
As some of you might know, I am now studying to be a CFP. So I went from owning a successful business to walking away (setting up another in the interim) and going back to school. It might seem odd, but I am the type of person who doesn't want to lean on CPAs or CFPs for my own wealth management, and I also want to give back through knowledge.
I might well take a job again, as a peon, in order to learn the ropes, or I might just start my own planning firm from scratch - I am unsure. But either way I will be ready to work for 80+ hours a week, despite not needing to.
I'm not truly at a place I feel comfortable to say I am FIRE'd. I could retire now, but I would have to make lifestyle sacrifices, but I am far enough down the path to be able to walk away from a career, or a successful business if my heart isn't in it. Which is a wonderful feeling.
I'd like to start sharing more ideas about FIRE, and hearing your stories too - I couldn't give a crap about a First Class cabin if I had to go back to work on Monday.... So what do you say, are you with my on the real journey here?
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