DelayedFI

As you’ve already learned getting your expenses in check can shave years off the accumulation years as your climb FIRE mountain. The multifold benefit of reducing expenses also sets you up to have optimized cash outflows when you FI(RE), as well as the added consciousness around the cost/benefit of each of your expenses. Here are just 5 ideas to that helped me and perhaps would help you or at least spur some ideas as inspiration. Subscription Services Companies are always …

I can’t emphasize the importance of the expense side of the equation enough. From the day you start saving on your journey toward FIRE all the way into your withdrawal strategy in early retirement. Optimizing expenses is key. Expenses: A Different Perspective Let’s think about expenses in a different light. With the 4% rule, for every $25 invested you’re effectively able to withdraw $1 safely in retirement. This is a 25:1 ratio. On the contrary, for every dollar in expenses …

Let’s take a moment to double click on lump sum type expenses. As you go through each and every one of you expenses to build your budget and to calculate you FIRE number you’ll generally find two types of expenses. Ones that occur monthly like rent or mortgage payments and those that occur once yearly or billed bi-annually. How do we handle these? Monthly Expenses These are predictable expenses that occur with consistency month over month. Such as fixed expenses …

The general school of thought is to amass a nest egg of 25x your yearly expenses so that 4% can be withdrawn from your portfolio on an annual, inflation adjusted basis as your income for any particular year. This is of course if we’re following the Trinity Study. Let’s break it down. The Trinity Study The Trinity Study is a landmark research project that examined the sustainability of retirement portfolios, specifically focusing on the “4% rule.” Conducted by researchers at …

Why do we work?…For a sense of purpose? To pay our bills? To provide for our families? Do we live to work, or work to live? Whatever it is at some point in our lives we retire from work, whether sooner or later. What if we could live frugally, save, and invest to free ourselves from the constraints of the typical 9-5 as fast as we can? Allowing us more of the most valuable resource we have – time. Welcome …

As I progress through my FIRE journey I take a step back to reflect upon everything I learned along the way. I’ll share 5 lessons I learned in my 20’s and 30’s that I wish I had learned earlier, in hopes of helping you in your journey. This is the second of a two part series. Let’s go! Money Lesson 1 Don’t invest other people’s money. One of my biggest regrets was accepting money from a close friend to invest …

My parents worked hard through their working years but were never financially educated. So I didn’t have a great relationship with money growing up, but that’s not to say, that looking back I didn’t learn anything. Here are 5 money lessons I learned from ages 0-20. Money Lesson 1 $20 is a lot of money. I was lucky that my mum didn’t have to work weekends, and since we lived in the center of the city there was a large …