Hi, I’m Bec, and I’ve had an epiphany.
I can retire in less than 6 years. And it’s down to a formula I’ve only just discovered (more about that later).
I’m not rich, I’m not frugal, I’m a fairly regular person (although perhaps like Waitrose more than the average) and I desperately want financial freedom.
But until a few weeks ago I didn’t even know this was possible.
Inspired by the FIRE (Financial Independence, Retire Early) movement in the US, I’ve made a commitment to myself to follow the philosophy through until my family can live off passive income in the form of investments and property. That's a big ask considering at them moment we have neither.
I've just feasted on the amazing podcast ChooseFI and the famous Mr Money Moustache's blog.
They are both awesome, and I strongly advise anyone interested in early retirement to go check them out.
The problem for me, however, is that they are US-based. And whilst I love Americans and their seemingly eternal optimism, they do have some differences from a financial and retail perspective.
What the heck is a Roth IRA? A Backdoor Roth? A 401k? An FSA or HSA? No idea? Me neither.
Turns out they’re the equivalent of our Stocks & Shares ISAs, work place pensions and health insurance plans (mandatory in the US, but less so with our NHS). But I had to research to find this. Now I’ve found it, I’d like to share it with you.
I’d also like to go further than just Financial Independence (FI). For decades I’ve been interested in optimal living. My husband and I have experimented with self sufficiency – even living on a farm off-grid for 6 years. I’ve had 2 mini-retirements (without knowing I was doing this) when the 9-5 grind just got too much. Without any strategy I took my corporate job part-time, then remotely, well before I read this is the first step to freedom in Tim Ferriss’ seminal work The 4 hour work week.
We’ve always been sensible with money, but we’ve never had a STRATEGY. The FI movement has given me this strategy, and with it, a strong sense of purpose and direction.
I plan to share all I learn along this personal journey.
Please note I am not a financial advisor, I'm not a medical expert, I'm just an ordinary person trying to optimise my life and hack my way to an early, healthy and happy retirement.
I hope you will join me in this journey.