Financial Independence? How?

Plant your FIREplants today!                          And enjoy the fruits tomorrow!

How? How? How? I have decided I want achieve the fabled dream of being independent from all financial worries, but how do I get there?

To be honest, there are many many personal finance blogs out there describing the different ways or the technicalities of gaining FI much better than I can but the 2 main principles distilled down to its essence are:

  • Frugality
  • Building a passive income

Wait. Whaat?! This sounds uninspiring. I thought there was a bigger secret to it all. But in fact once you can build a large enough passive income to satisfy your spendings, surprise surprise, you will have arrived at FI, a land where you can shout out loud ‘I think I am going take a long holiday and travel around the world for a year,’ Or ‘I am going to try my hand at baking/cooking full time’ Or ‘I quit, you f***ing prick!’ to you boss. And know that you have a plan; a solid escape plan that will keep sustaining your daily life. You live to do what you want to. How is this not the dream of everyone alive?


Financial Independence? Why?

Financial Independence is an age old concept in a twenty first century lingo. In simple terms, it is what it basically says on the tin, being independent financially. In modern society, this equates to being able to afford the things you buy using currency as a trade. This implies you have enough financial reserve (ie income, savings) to satisfy your bills, meals, a roof over your head. The outcome of not having this is well summed up by Mr Micawber in Charles Dicken’s David Copperfield.

‘Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

-Wilkins Micawber in David Copperfield (Charles Dickens)

The reality is it is not as simple as that. Happiness does not simply come with Financial Independence but not having financial independence will make being happy pretty difficult or a false sense of security.  Here is an article by theescapeartist on The Prison Camp illustrating how modern society has taken over people’s life and made us into a bunch of misfits trying to fit into the ‘well, that’s what just what everyone does it’ mentality. I picture it as a giant factory with conveyor belts, and society just traps you in there, making you a banker, lawyer, pilot, doctor because the economy/society needs these roles; selling you the latest TV, Driverless Car, Phones with a fancy contactless paywave function because they are a necessity of modern life. Hence the Prison Camp which never ends till you die.

Now true Financial Independence is freedom from all these struggles. It is waking up in the morning and have the freedom to chose whatever you want to do for the day and not have to worry about getting food or a roof over your head for the night. It allows you to take a step back and liberates your mind and body from the stresses modern society is feeding you with.

I believe this is an universal experience for everyone on the conveyor belt and can relate to. I hope to share my journey of growing my FIREplant, and anything that is worth learning along the way.