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
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.
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.
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.
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
Fiology is a free online resource for anyone looking to understand their finances, take action, and become Financially Independent. In addition to the mechanics of saving and investing, the course addresses the issues of happiness, mindset, decision-making, dreaming big, and philosophy, enhancing your Financial Independence journey. You can get the free weekly lessons simply by … Read more