The Fiology Workbook: Your Guide to FI
Your Guide to Financial Independence 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...
Free Financial Independence Course
Fiology is a Free Financial Independence Course that answers the question: “What do I need to know in order to plan for and achieve Financial Independence?” Yes, it is completely free. Financial Independence: The term...
What Does Financial Independence Mean?
Financial Independence 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. We each have...
Your Why of Financial Independence
Why do you want to become Financially Independent? You now have your definition and are intrigued enough to pursue it - but why? It is important to know the why because this journey can be...
How Much Money Do I Need to Be Financially Independent?
How much money do you need to be Financially Independent? You need to accumulate approximately 25 times your planned annual expenses to be Financially Independent. The traditional investment advice of save 10-15% of your income...
What Are the Milestones of Financial Independence?
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...
“The Big Three” Household Expenses
Housing, transportation and food are the commonly referred to as the "Big Three" of household expenses. In general, people spend the most of their money on these three recurring expenses. The more money we have...
Compound Interest Can Make You Rich!
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 exponential impact it can have towards wealth...
How to Budget For Financial Independence
Do you know how to budget? There are many philosophies and tools to be familiar with when deciding to give budgeting a try. The first step in developing a budget is tracking your spending. We...
How To Get Out of Debt in Order To Build Wealth
Having debt and planning to be Financially Independent feels like starting a baseball game already down five runs. It's a tough position to be in for sure. However, the good news is you have the...
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...
Passive Index Fund Investing to Build Wealth
Passive index fund investing is a preferred method of wealth-building by many pursuing Financial Independence. Most people do not have the time and motivation to conduct the in-depth research to confidently pick individual stocks in...
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...
Renting vs Buying a House – What’s Best for FI?
Renting vs buying a house is a major decision. Housing is our largest monthly expense and it can significantly impact our FI plan. Assuming that living under a family member’s roof and paying little or...
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...
How to Teach Kids About Money
When we have children, we don't automatically know how to teach kids about 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...
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....
Investing in Yourself by Doing it Yourself
Fiology thanks the FI Community’s Investing in Yourself with DIY expert Captain DIY of DIY2FI for shaping this lesson. Many in the Financial Independence Community are predisposed to look for reasons to do it yourself...
LESSON 26 : WITHDRAWING FUNDS BEFORE AGE 59 1/2
Fiology thanks Paige, an extreme frugalist of the FI community, for shaping this lesson. Can I access my retirement money before retirement? There’s a myth that claims you can’t get your tax deferred money until...
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...
LESSON 29 : CUT THE CORDS THAT TIE US DOWN
Fiology thanks Deanna of Recovering Women Wealth, 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...
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...
LESSON 31 : DON’T CELL YOURSELF SHORT
Fiology thanks Deanna of Recovering Women Wealth, 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...
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...
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....
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...
LESSON 35 : TRAVEL REWARD YOURSELF
Fiology thanks Marla Taner, a travel hacking expert of the FI community, for shaping this lesson. You have developed strict financial discipline. Reward yourself by using that same financial discipline to accumulate rewards points and...
LESSON 36 : DECLUTTERING HOME AND SELF
Fiology thanks Chris and Jaime Durheim of Keep Thrifty for shaping this lesson. Wait, I thought these lessons were about financial independence. Why are we talking about decluttering? Here’s a not-so-little secret about financial independence...
LESSON 37 : CAR BUYING WHILE DRIVING TOWARDS FI
Fiology thanks Airman Mildollar of Military Dollar for shaping this lesson. Transportation is one of The Big Three and can have a significant impact on your Financial Independence journey. If you have determined that you...
LESSON 38 : THE PRENUP PROPOSAL
Fiology thanks Good Nelly of My Way of Viewing for shaping this lesson. Nothing is constant in this world and neither is marriage. No one knows whether or not your marriage will work out the...
LESSON 39 : SIDE HUSTLE UP!
Fiology thanks the FI community’s side hustle expert Kevin of Financial Panther for shaping this lesson. A side hustle is one of the most powerful tools you can use on your path to Financial Independence....
LESSON 40 : FI WITH FRIENDS
Fiology thanks Stephen Baughier, the founder of CampFI, for shaping this lesson. Chances are no matter where you are on your own Financial Independence journey, you don’t have physical interaction or discussions daily with people...
LESSON 41 : WHO IS YOUR FI MENTOR?
Fiology thanks the Filosopher of the FI community, DocG of DiverseFI, for shaping this lesson. Discovering financial independence is magical. After tripping over a blog or listening to a podcast, change comes quickly. Most can plot major...
Opportunity Cost – Everything In Life Is a Trade-Off
Opportunity cost is defined as the loss of potential gain from other alternatives when one alternative is chosen. In its essence it means that if you spend your time and/or resources on one event, you...
Stoicism: The Philosophy of Financial Independence
What Does Stoicism Have To Do With Financial Independence? Stoicism is defined as a practical philosophy that provides a way to think about how we interpret stimuli, both positive and negative, so that we can...
Sequence of Returns Risk: Don’t Risk Your Retirement
Do not ignore sequence of returns risk. Sequence of returns risk can make or break your plans of becoming and remaining financially independent or retired. What determines our investment success? Silly question! Returns, of course!...
REITs: Should You Invest in Real Estate Investment Trusts?
What are REITs? REITs or real estate investment trusts are companies that own and operate real estate. The real estate held can include a variety of asset types including commercial, residential, resorts, and even the...
One More Year Syndrome (OMY) – Should You Keep Working?
What is the One More Year Syndrome (OMY)? The One More Year Syndrome (OMY) is defined as having a continued urge to work even though you have already met your planned financial goals. Of course...
LESSON 47 : DREAM BIG
Why did you choose Financial Independence? For most of us it’s so that we have the option to focus on things in our lives that bring us happiness and fulfillment. For some, this means spending...
LESSON 48 : CARING FOR AGING PARENTS
Time marches on, for us and for those we care about. When we are young we think of our parents as permanent and only much later realize that isn’t the case. We all grow old...
LESSON 49 : SOCIAL SECURITY
There are plenty of views and opinions regarding Social Security. For many in the FI community, planning goes forward with the assumption that it won’t exist at some point in the future. That is a...
LESSON 50 : THE DYNAMIC JOURNEY
Fiology thanks Miss Mazuma for shaping this lesson. As we’ve discovered by now, even within the FI community, there is a spectrum of people with varying styles and habits that range from extreme frugality,...
LESSON 51 : LIVING THE FI LIFE
Once we've overcome our internal struggle with the One More Year Syndrome and set a date to pull the trigger from traditional work, life changes - in most cases for the better. We are all...
LESSON 52 : FI-VANGELISM
Congratulations! You’ve finished a thorough exploration of the critical concepts of Financial Independence. Think of where you were a year ago and the progress you made along the way and how much better your future...
Fiology.com is an educational resource designed to teach Financial Independence (FI). We scoured the internet to find content from the best and brightest of the FI community and created lessons covering the critical concepts.
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