Camp FIRE Finance
In the world of FIRE and early retirement is that “what” and financial independence is the “how.” Simply stated: no FI, no ER.
Financial independence, or FI for short, is when you’re investments generate enough cash to cover your expenses. That’s the holy grail because it means that money is no longer an object. You’re financially free!
Not Everyone Should Pursue Early Retirement, but EVERYONE should absolutely strive to become financially independent.
When you’re financially independent, you’ve got options. You can go to work or quit. Take a vacation or lie on the couch all day. What you do doesn’t matter because you’re financially free.
The best thing you can buy with your money isn’t more stuff – it’s freedom. When you no longer have to trade your time for a paycheck, then suddenly you can do whatever you want with your time. You’re free! And that’s what financial independence is all about.
The biggest struggle in my journey to financial independence hasn’t been finding ways to improve my budget, reduce my expenses, or even increase my income. The hardest part has been trying to find the patience to wait for success to show up. But success is like a blister – it shows up once the hard work is done.
When you’re financially independent (FI) and your time is your own, that’s living the FI-Life. Although I’m not there yet, I’m working on it and I can’t wait to get there!
I’ve been with my current employer for nearly five years now. Throughout that time I’ve held a few different positions, worked on various teams, and had a handful of different managers, but something I learned during my very first week on the job has stuck with me the entire time. I call it the ‘3 Solutions’ rule and I believe it can help all of us reach financial independence.
My financial epiphany has been more of gradual progression rather than a single ‘aha!’ moment. A handful of events each lighting my pathway to financial independence. One of these moments happened when I came to the realization that everything you own is garbage.
Note to self: A quick reminder to yourself on this gray, drizzly morning in Seattle. As you prepare to trade another week of your life for a paycheck, don’t forget that money, like all of your other possessions, is just a thing. Money gets old and wears out, and just like that car sitting in your garage, even your money loses value over time.