LESSON 34 : REINFORCE FI WITH RENTALS

Fiology Lesson 34: Reinforce FI With Rentals

Fiology thanks Drew of Guy on Fire, a FI community residential real estate expert, for shaping this lesson. Real estate can provide a rapid route to Financial Independence. I am 28 years old, own seven rental units, and plan to be FI in under two years. Cash flow, appreciation, depreciation, and the ability to build … Read more

LESSON 33 : HEALTH INSURANCE

Fiology Lesson 33: Health Insurance

Fiology thanks Mandy Sleight of the the FI community for shaping this lesson. Prior to the Affordable Care Act (ACA), health insurance was relatively easy to understand and, for the majority of people, more affordable. Remember the days when pretty much every employer offered one plan, and you either opted in or out? Gone are … Read more

LESSON 32 : WHOLE, TERM, OR NO LIFE INSURANCE?

Fiology Lesson 32: Whole, Term, or No Life Insurance?

Fiology thanks the FI community’s Life Insurance expert Michael Dinich of Your Money Geek for shaping this lesson. Life Insurance may seem an unlikely ally in the pursuit of Financial Independence, however adequate insurance plays a vital role in planning. In years past, workers relied on their employer for a pension as well as life … Read more

LESSON 31 : DON’T CELL YOURSELF SHORT

Fiology Lesson 31: Don't Cell Yourself Short

Fiology thanks Deanna of Ms. Fiology, for shaping this lesson. Cell phones – love ‘em or hate ‘em, most of us can’t seem to live without them. Owning a cell phone, however, does not mean we need to donate a significant portion of cash to the coffers of the “popular” carriers. We’d much rather contribute … Read more

LESSON 30 : THE FIBRARY

Fiology Lesson 30: The FIBRARY

Fiology thanks M.K. Williams, self-publishing expert of the FI community, and Mr. Winning Williams , the Budget Wizard of the FI community, for shaping this lesson. There is one critical lever to pull when you are trying to cut costs from your budget without giving up the things that you love. Books, television, movies, and … Read more

LESSON 29 : CUT THE CORDS THAT TIE US DOWN

Fiology thanks Deanna of Ms. Fiology, for shaping this lesson. First and foremost, “I wish I had spent more of my time watching TV” is said by no one … ever. Objectively, the most “optimized” way forward towards Financial Independence is to eliminate paid television altogether and redirect what would have been money spent on … Read more

LESSON 27 : MINDFULNESS

Fiology Lesson 27: Mindfulness

Mindfulness is a type of meditation that focuses on the experience of the present. It is a technique used to increase focus and reduce or eliminate the influence that overpowering negative emotions have on our mood, attitude, and actions. Research suggests many benefits of mindfulness including reduced symptoms of anxiety and depression as well as … Read more

LESSON 26 : WITHDRAWING FUNDS BEFORE AGE 59 1/2

Fiology Lesson 26: Withdrawing Funds Before Age 59 1/2

Fiology thanks Paige, an extreme frugalist of the FI community, for shaping this lesson. There’s a myth that claims you can’t get your tax deferred money until you turn age 59 1/2. The reality is that money saved in standard retirement accounts is available to the person who wishes to access it. There are a … Read more

LESSON 25 : YOU CAN-DO IT YOURSELF!

Fiology Lesson 25: You Can-Do It Yourself!

A “Do It Yourself” (DIY) attitude can be a positive and prevailing force in our Financial Independence journey. Up to this point in the Fiology lessons you have noticed the message of taking ownership, in particular, in regards to your finances. By now you understand the benefit of creating the basics of your financial plan … Read more