Hello and Welcome back to Ease Your Financial Payne! I’ve been doing a lot of reflecting, writing, & reading over this last month & my mindset has evolved, yet again. In February, I read The Power of Now by Eckhart Tolle, How to Become CEO by Jeffrey J. Fox, theminimalists.com by Joshua Fields Millburn & Ryan Nicodemus, and The 4-Hour Workweek (the expanded & updated version) by Timothy Ferriss. To be honest I don’t know how I went this long without reading these books, particularly The Power of Now and The 4-Hour Workweek!
I am continuing to hone in on what is MOST important to me in life and then trying to stay focused on only those things. I do not care about not working, just doing what I’m passionate about, on my own time, and from wherever I prefer. My friend and I have started a financial podcast, but there are only two episodes out right now. Once there are a few more I will add a post on to here all about it! We are uploading biweekly on Mondays, which started on February 15th, 2021. I have a goal to be self-employed ASAP and then eventually hire people to help once the business(es) grow.
I still want to keep investing & saving as much as we can, but now I don’t care about living off of my investment accounts. I would rather do work I love, am passionate about, & fulfills me. Like talking about personal finance & helping others with their financial plans! I of course want some money invested & saved if my business plans don’t work out or I take awhile to make enough money off of them. So as of right now, I’m thinking once I give birth to our future child (No, I am not pregnant yet.) I will either leave my job completely & work on my side businesses as much as I can or continue to work part time & then part time on my businesses as well. We’ll see! I’m just not going to wait to hit some arbitrary number before I start living my life how I want to anymore!
Side Note: We got our tax return back, only $1,130, so we just put it all on my husband’s car loan.
Total Financial Independence Goal Numbers:
- $900,000 Invested
- $36,000 In Savings
- $0 Debt
- Both of us have the choice to leave any & all employment
Our Partial Financial Independence Goal Numbers:
- $100,000+ invested, for retirement.
- $25,000+ In Savings for Emergencies/Baby Fund.
- An HSA we are Maxing out every year while working for Medical Expenses. (No specific Goal Number)
- $0 Personal Debt- No Mortgage or Car Payment brings down our expenses a ton ($1,540/month).
- With husband & I working part time (or one of us not at all).
Our Current Numbers as of March 1st, 2021:
- $35,849.50 Invested.
- $11,181.04 In Savings.
- No HSA yet, we will get one Oct. 2022.
- -$143,643.28 Total Debt. (House & Car)
- We are both still working full time.
Total amount needed to reach partial F.I. Goals: $221,612.74
Total amount needed to reach total F.I.R.E. Goals: $1,032,612.74