Are you interested in achieving financial independence? If so, you may have already heard about the importance of smart investments, strategic savings, and living below your means.
Financial independence can seem like a far-fetched concept for many, but it shouldn’t be. The term is used to describe people who do not need to work for their money, it works for them. Keep in mind that financial independence can look different for different people. The journey is not an easy one and it will require education and a plan. You will also need to hit certain financial goals along the way.
Can you go from clueless at 40 to financially independent in less than 10 years? We are. And, we’ll do it as two public educators, not doctors or investment bankers.
We aren’t quite there yet, but here’s how we’ve turned things around and why I’m confident we’ll get there.
If you’ve just started paying attention to your finances in your 30s, 40s, or even 50s it’s not too late. No doubt your situation is different, but you’re aware now and that matters. Ours is just one story – you can write your own!
Our First Twenty Years
We Started Out Broke
We started out as two new teachers, more than $100,000 in debt thanks to student loans and consumer debt from our college years. We then bought a house on a zero down mortgage and jumped into our careers. Living the American dream!
They say money doesn’t make you happy, but I can’t fully agree. Who doesn’t want to reach financial freedom? I love money, and I believe it’s normal. We all work to earn. How else can you achieve financial freedom? However, money is not a goal; its an instrument to make your dreams come true, to live a fulfilled life, travel, be able to pay kids education and finally retire.
Money is simply a necessity like food or water, it helps you buy the things you need.
Your financial Break Even Point is the best day of the month, and you probably don’t even know when, or what, it is. That’s a huge mistake. Understanding your Break Even Point can help you reach financial independence sooner.
We believe in the number so much that we just developed a Break Even Point calculator so that you can quickly and easily figure out your number, and then get to work fixing it! So read on, determine your financial break even point and tip the financial scales in your favor.