Retire Early

Time Now or Time Later

Recently I have been struggling with what I call the “Time Now or Time Later” paradox. I find that the Time Now or Time Later paradox is applicable to most people who are using a W2 job to pursue Financial Independence. This especially holds true for those that work in Manufacturing like I do. However, I have also heard similar experiences from friends in Sales, Healthcare and Finance roles as well. TIME NOW The Time Now portion of the paradox is based on the fact that higher paying/higher level jobs typically require more work hours per week. This is true both as you put in extra effort in the beginning to excel and gain promotions, and when you reach the higher level jobs with more…
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ROTH IRAs: The Best Emergency Fund

One pillar of the Financial Independence mindset is the Emergency Fund. I agree with the principal of having an Emergency Fund, but I have a special way of creating an Emergency Fund within my financial plan. I came up with my process for an Emergency Fund by trying to maintain the benefits while removing the drawbacks of a typical Emergency Fund. Before we get into my Emergency Fund method let’s review the basics of an Emergency Fund. DEFINITION An Emergency Fund is an account for funds set aside in case of the event of an unexpected significant financial need, such as the loss of a job, a chronic and/or debilitating illness or a major repair to your home or vehicle. The purpose of the fund…
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Financial Independence Debate: Save More or Make More

Today I would like to discuss my personal opinion/strategy on whether focusing on saving money and optimizing lifestyle costs or making more money through active and/or passive income is the better route to achieving Financial Independence. To anyone who is active in the FI community the natural answer is that both sides of the ledger are important. It is impossible to achieve a high savings rate which is the nucleus of any early retirement strategy if you only focus on saving or earning with disregard for the other. While I concede that this widely held belief is true, I do believe that from an effort (time, energy, etc.) standpoint there are optimal and sub optimal approaches. The remainder of this post will discuss my tactics…
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Saving on Kid’s College Costs by Retiring Early

As a parent of 2 small children I consider helping to cover their college expenses as one of the largest barriers to being able to retire early and achieve financial independence. I started my career saddled with roughly $70,000 of student loan debt so I fully understand the stress that being in that position creates. I also appreciate that being responsible for your own education and the costs associated with the choices you make on what school to attend, can be a good springboard into being a responsible and accountable adult. Based on both of these points, I’ve decided to strive for a compromise which is to help minimize the college cost liability for my children and then make them accountable for managing these reduced…
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