Sunday, 10 September 2017
How to identify the FI in you?
How do you know that you are not already a Financial Independence Retire Early)(FIRE) or aspire to be one? If you answer "YES" to most of the following questions based on my observations and my personal traits, then I congratulate you for joining the bandwagon.
You jump for joy when you are able to purchase something on sale at the grocery store and was able to double the savings by including manufacturer coupons and vendor online bonus points.
You spend more and more time each day reading about FI-ers and their successes.
You are in awe when you see other FI-ers bloggers portfolio each month and think you can do better.
You eat out less often, but focus on cooking healthier and cheaper meals at home.
You stop looking at new car, but instead brag about how you got 300,000 km on your existing beater.
You resort to dumpster diving to look for parts to replace your decade-old BBQ gill.
You sign up for GasBuddy to save a few cents per litre on gas.
You stop shopping for new clothes.
You stop chasing risky investments, but focus on maintaining a balanced portfolio of 65% stocks and 35% fixed income.
You take advantage of cash bonuses by opening new bank accounts, and closing old ones. Note that loyalty does not pay.
You stop worrying about earning more (in order to retire early) because you are in control of your spending, and that my friend, is the key to achieving FIRE!