The simplest math behind financial independence

Financial independence feels impossible for me. You reach financial independence when you have 25 times your expenses. Step 1: Calculate your expenses Me: 20,000 per year Step 2: multiple your annual expenses by 25 Me: 20,000 x 25 = 500,000 In theory, I need $500,000 to “retire” and live off my “investments”. Based on theContinue reading “The simplest math behind financial independence”

My personal feelings about retirement

My view of retirement is completely different from my parents. There are so many beliefs that I hold that are completely opposite than my parents. My parents are conservative, I am liberal. They are counting on Social Security. I have no plans on relying on Social Security. I do not believe that I will everContinue reading “My personal feelings about retirement”

Your savings should always work for you

Cash in the bank gives you the most comfort. Knowing that you a significant amount of money waiting for you can give you a lot of freedom. If I lost my job tomorrow, yes I am an employee for a business, I really would not mind. It would be a bummer and I would haveContinue reading “Your savings should always work for you”

Never pay full price

One of my problems with Amazon is that if you can usually find the same product cheaper if you do a simple google search. Save money Shop at Costco for better price per unit Use grocery store circulars to find the best price on fruits/veggies Buy clothes from discount department stores – even the high-endContinue reading “Never pay full price”

What savings rate is right for you?

What are your goals? Do you like your job? What is your lifestyle? Do you want to retire early? Begin with the end in mind. If you want to retire early you need a higher savings rate. If you want to go on more vacations you need a lower savings rate. The more money youContinue reading “What savings rate is right for you?”