Tag: cutting costs

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Freedom from the Daily Grind – Part 2

The first part of this blog post was all about growing the top line. My focus till 2014 had always been about how to maximize the topline and investing regularly. But to get to a great Net Worth, you need to cut costs too. The value of this is two fold. It reduces your expenses so you can live on less.  The amount you will need to get to Financial Independence lower since your annual cost is lower, its 25-30X multiple is lower too, and hopefully you can get there sooner. A lot of people think if you are financially independent, it means you are rich but that’s far from the truth. What it really means is you have enough. You have found ways to really cut your expenses and focus on your priorities, so you don’t need as much. And that’s exactly what we did.

Slash Costs and create a budget                                                                                        

Continue reading “Freedom from the Daily Grind – Part 2”

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Freedom from the Daily Grind Part 1

It was 2015, I had just started a role at a start up, excited to finally be in a place where I could make a big impact. I had been hired by a VP, who I admired, and we were creating a product that could make a real difference in people’s lives. Six months in, my boss changed and the situation didn’t feel the same anymore. Like I mentioned in my previous post, I came to the realization that what I was looking for was freedom, freedom to do what I loved and live a fuller, richer life, not be dependent on a paycheck from the corporate world. In my spare time during my commute and after the kids went to bed, my focus turned to financial independence. Here is some of what I learned. 

The first rule of FI is spend less than you make.

The more you save, the faster you will get to FIRE, duhhh! And you would think most people spend less than they make but I read a recent article that talked about 50%+ of Americans spending more than they make.* A lot of the FIRE community reached FI by saving 75% of their income.  We weren’t willing to save as much …… Continue reading “Freedom from the Daily Grind Part 1”