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

LESSON 24 : NET WORTH ≠ NET HAPPINESS

Fiology 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. We discover many things about ourselves on our Financial Independence journey, our happiness as it relates to our building wealth … Read more

LESSON 23 : SHOULD YOU PAY OFF YOUR MORTGAGE?

Fiology 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 the two. Numbers, psychology, and behavioral finance are all part of the equation. Because we have learned to Let Our … Read more

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 children’s higher education. Many are in the camp that since we had to pay for college ourselves that our children … Read more

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 with the entire world? So do I. But is voicing the benefits of Financial Independence with such zeal prudent?  What … Read more

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 advantage of geoarbitrage, they can achieve FI much sooner than once expected. Our FI number is a combination of our … Read more

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 on your collection of skills and knowledge. Opportunity to understand and make the most of the rules. Opportunity to keep … Read more