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THE FOUNDATION OF FINANCIAL INDEPENDENCE

LESSON 0 : WHAT IS FIOLOGY?

Fiology answers the question: “What do I need to know in order to plan for and achieve Financial Independence?” Financial Independence: The term “Financial Independence” returns 175,000,000 results when Googled.  There are thousands of sites...

LESSON 1 : WHAT DOES FINANCIAL INDEPENDENCE MEAN TO ME?

Financial Independence generally means having a net worth providing an amount of passive or near passive income that allows a person to no longer actively work for money if he or she chooses. In future...

LESSON 2 : WHY FI?

You now have your definition of Financial Independence and are intrigued enough to pursue FI - but why?  It is important to know the why because this journey can be long, challenging, and at times...

LESSON 3 : HOW MUCH DO I NEED?

The traditional investment advice of save 10-15% of your income until you are 65 and you’ll be able to do with your money and your time as you please just doesn’t cut it for those...

LESSON 4 : THE MILESTONES OF FI

The Milestones of Financial Independence are checkpoints along our FI journey that represent significant accomplishments.  They allow us to acknowledge our successes of the past and look forward to our next achievements.  The Milestones of...

LESSON 5 : THE BIG THREE : HOUSING, TRANSPORTATION, AND FOOD

The more money we have after paying our expenses, the more we can invest.  Depending on our circumstances, we may not be able to make an immediate change that significantly impacts our income generation.  But,...

LESSON 6 : THE MIRACLE OF COMPOUND INTEREST

Compound Interest has been referred to as the 8th Wonder of the World.  If Einstein actually said that is debatable but what isn't up for debate is the ridiculous phenomenon of Compound Interest.  Sure, we’ve...

LESSON 7 : WHERE DOES MY MONEY GO?

The first step in developing a budget is tracking your spending.  But then what?  We then need to accept where our money was going and reroute it to where we know it will make a...

LESSON 8 : OVERCOME DEBT

Having debt on our way to Financial Independence feels like starting a baseball game already down 5 runs. The good news is we have the ability to come back from our deficit and achieve victory....

LESSON 9 : RETIREMENT ACCOUNT BASICS

Using retirement accounts can expedite Financial Independence. There are different types of retirement accounts and we don’t have access to all of them, but we may have one or more available to us. Many corporate...

LESSON 10 : DO MY HABITS WREAK HAVOC?

Merriam-Webster defines a habit as an acquired mode of behavior that has become nearly or completely involuntary. While our money habits will shape how we achieve Financial Independence, habits impact all aspects of our lives....

LESSON 11 : LET OUR VALUES GUIDE OUR DECISIONS

Each one of us walks our own path through life. We are individuals with unique beliefs, views, experiences, and desires. We receive plenty of recommendations from friends, family, coworkers, and others with good intentions to...

LESSON 12 : THE RISKS OF FINANCIAL INDEPENDENCE

A proverb advises against putting all of our eggs in one basket. Andrew Carnegie advises us to put all of our eggs in one basket and then watch it. Both of these can be considered...

LESSON 13 : IT PAYS TO BE PASSIVE

The majority of people do not have the time and motivation to conduct the in-depth research to confidently pick individual stocks in companies that will make them Financially Independent. We would need to know if...

LESSON 14 : THE PENSION DIMENSION

Fiology thanks Grumpus Maximus, the pension expert of the FI community, for shaping this lesson. In the U.S., prior to the 1980s, a company or government Defined Benefit Plan (DBP), commonly referred to as a pension, was potentially...

LESSON 15 : RENT OR BUY: WHAT’S BEST FOR FI?

For most, housing is our largest monthly expense. It can have a significant impact on our FI plan. Assuming that living under a family member’s roof, paying little or no rent, is not an option,...

LESSON 16 : AUTOMATIC FINANCIAL INDEPENDENCE

Once we automate our finances, and our investing specifically, we can focus on other important aspects of our lives with the assurance that we are well on our way to Financial Independence. Our stress levels...

LESSON 17 : IMPROVED EATING HABITS: A RECIPE FOR FINANCIAL INDEPENDENCE

Fiology thanks former dietician and nutrition educator Earlier FI for shaping this lesson. Our food bill can dramatically impact our savings rate. In this course, we'll experience a potluck of ideas and resources for a...

LESSON 18 : KIDS AND MONEY

Be kind to others...say please and thank you...max out your Roth IRA? Imparting lessons of financial literacy isn’t normally at the top of our parenting priorities. Today, with so much competition for our children’s attention...

LESSON 19 : DON’T EVADE TAX KNOWLEDGE!

Fiology thanks Juan of Finance Clever, a tax expert of the FI community, for shaping this lesson. What if instead of assuming misfortune when the subject of taxes surfaced, you saw opportunity? Opportunity to expand...

LESSON 20 : GEOARBITRAGE: MOVING CLOSER TO FI

Fiology thanks Dylin of Retire By 45, a geoarbitrage expert of the FI community, for shaping this lesson. Geoarbitrage reduced our FI timeline by 9 years! This proves that if someone is willing to take...

LESSON 21 : THE SECRET OF FI

It is natural for us to want to shout the message of Financial Independence from every mountain top. Remember the first time the idea of Financial Independence truly clicked and you wanted to share it...

LESSON 22 : HIGHER EDUCATION: TO PAY OR NOT TO PAY?

Fiology thanks Seonwoo Lee, a college hacking expert of the FI community, for shaping this lesson. Being responsible parents and fiscal fanatics we would be remiss in not exploring the idea of planning for our...

LESSON 23 : SHOULD YOU PAY OFF YOUR MORTGAGE?

This lesson assumes you currently have a mortgage on a primary residence and you are deliberating between paying it off as soon as you can, making payments for the full term, or some hybrid between...

LESSON 24 : NET WORTH ≠ NET HAPPINESS

Having money makes aspects of our lives easier, but does it make us happier? Studies indicate a direct relationship between annual salary and happiness up to about $75K. After that, the relationship becomes less relevant....

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...

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...

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...

LESSON 28 : JOIN FORCES FOR FI: IS YOUR SIGNIFICANT OTHER ON BOARD?

No matter how enthused you may be about Financial Independence, it is going to be a tougher journey if your significant other isn’t on board. From the outset, your significant other might exhibit a seemingly...
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