LESSON 9 : RETIREMENT ACCOUNT BASICS

Fiology 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 employees have access to a 401(k).  And most employees have the ability to initiate and contribute to a Traditional IRA … Read more

LESSON 8 : OVERCOME DEBT

Fiology 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. We just have to understand a few methods of debt repayment and use them to our advantage. Overcoming debt allows … Read more

LESSON 7 : WHERE DOES MY MONEY GO?

Fiology Lesson 7: Where Does All 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 positive difference. Everyone on the path to Financial Independence tracks their spending one way or another, at least for some … Read more

LESSON 6 : THE MIRACLE OF COMPOUND INTEREST

Fiology - The Miracle of Compound Interest

THE MIRACLE OF COMPOUND INTEREST

Discussion: Compound Interest has been referred to as the 8th Wonder of the World.  Whether Einstein actually said that or not is debatable but what is not up for debate is the ridiculous phenomenon of Compound Interest.  Sure, we’ve all heard the term Compound Interest but how many of us have truly explored its power?  The content in this lesson refreshes our understanding of Compound Interest and brings to the forefront just how positive a force this can have on our lives and the lives of those we care about.  As we go through these presentations, focus on the element of time and how even a seemingly small money move made today can result in long-term wealth.

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

Fiology Lesson 5: The Big Three

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, if we take a critical look at how we trade our current income for housing, transportation, and food, we can … Read more

LESSON 4 : THE MILESTONES OF FI

Fiology Lesson 4: The Milestones of FI

Fiology thanks Joel of Financial 180 for shaping this lesson. The Milestones of Financial Independence (FI) 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 FI make it clear that FI itself isn’t a specific number … Read more

LESSON 3 : HOW MUCH DO I NEED?

Fiology Lesson 3: How Much Money Do I Need?

Discussion: 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 of us who want more out of the brief time we have here on Earth.  We strive to achieve Financial Independence so that we can control what we do with our time as much as practically possible.  Once we determine Financial Independence is the right journey for us, we need to determine the amount of assets needed to provide income for expenses during the Financial Independent phase of our lives.

LESSON 2 : WHY FI?

Fiology Lesson 2: Why FI?

Discussion:  You understand the definition of Financial Independence.  You are intrigued enough to pursue FI, but why?  It is important to know the why because this journey can be long, challenging, at times boring, and daunting.  The “why” will be needed to help you maintain your motivation?  It will also help you justify your journey when others take notice or are interested in beginning their FI journey.

LESSON 1 : WHAT DOES FINANCIAL INDEPENDENCE MEAN TO ME?

Fiology Lesson1: What Does Financial Independence Mean to Me?

Discussion: 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 lessons, a foundation of knowledge will be offered and that will provide some of the “how” to reach FI.  It is important to determine what FI means to you.  If we understand the objective, we will better maintain focus during our dynamic journey.

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 providing quality information promoting Financial Independence (FI).  This content includes popular blogs, podcasts, videos, books, and forums. Fiology uses content … Read more

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