All posts filed under financial independence

What Financial Advice Would I Give My 20-Year-Old Self?

It is so easy to pass judgment or have regrets about the past. We are all well-trained at dissecting our past mistakes and decisions, and I used to excel at that type of self-criticism. But I don’t want this post to sound like I’m bashing myself for my past mistakes and unconscious, uneducated choices because I’m not. The time when I felt guilty about my …

Things I’m Not Buying in 2024 to Boost My Investments and Heal My Budget

2023 was financially challenging for a lot of us. Budgets, savings, and at times even investments (depending on what you invested in) took a hit with new heights of the persistent and stubborn inflation rates globally. Despite the inflation kind of stabilising in the UK in the last couple of months of 2023, British prices have obviously not gone back to the pre-inflation times. By …

What Does Financial Freedom Mean in 2023? 

The bleak economic situation that stems from the housing crisis, soaring food prices, shortages of supplies of everything, stagnated wages, and interest rates going through the roof (at least in the UK) got me wondering how one could start on the path to financial freedom in 2023. Taking into consideration the political, economic, social and environmental upheavals we have been going through since the pandemic …

The Importance for Women to Be Financial Independent Has Become Even Greater

The end of Roe v Wade means that the war on women’s independence has intensified. Many right-wing governments will look up to the US and follow its example, restricting even further women’s access to abortion and soon access to contraception and, who knows, voting rights. In short, anything they can get away with may be taken away from us. The patriarchy has been itching for …

If You Are New to the Idea of Financial Independence and Early Retirement…

Many financial independence bloggers talk about saving 20-30 multiples of your annual budget (expenses) to become financially independent and retire early. However, the final number for that calculation can be pretty daunting for many people, especially if you didn’t think about retirement in your 20s or 30s and have to start from zero. Furthermore, saving 20-30 times of the yearly budget to retire early may …

10-Year Plan to Financial Independence According to JL Collins

JL Collins is a financial blogger and an author, who was the most influential force behind my desire to seek financial independence. Do check out his blog to learn more about his exceptional and life-changing work. In his book “The Simple Path to Wealth”, he says that if individuals follow the below-listed tips in the next ten years, they will be on their way to financial independence. …

Half Assing Isn’t Going to Get You Anywhere

When I was at the peak of my personal half-assing, I knew I was stuck and couldn’t get out of that circle of self-sabotage, which in everyday life translated to fear of commitment to myself. At the end of 2020, I realised that most of my adult life, I’ve been half-assing. I was doing things with all my convictions and beliefs and always gave my 100%. …

What Does the 4% Withdrawal Rule Mean?

Wikipedia says “The 4% refers to the portion of the portfolio withdrawn during the first year (of retirement); it is assumed that the portion withdrawn in subsequent years will increase with the consumer price index (CPI) to keep pace with the cost of living.”  Your investments will pay dividends and appreciate in price over time on average at 7% per year before inflation. The inflation rate …

Life Is About Learning to Adapt

On the way to financial freedom, many of us will have to learn how to adapt our mindset, spending, our goals, adjust to new lifestyle choices, adapt to new priorities, and to a financially independent lifestyle (when financial independence finally happens). Throughout the history of humanity, to be able to survive we all had to learn how to adapt. Unfortunately, the more comfortable people become, …

Establishing Good Financial Habits in Kids

Over the years, I’ve asked many people I considered good with money or who worked in the financial sector how to teach kids about investments. The best I got was “Open a savings account and add some money each month to show your son how the money compounds.” WHAT?!?! Well… that sounds really boring even for an adult, not to mention a child. First of …