The journey TOWARD FI involves material changes. It is always great to look forward and imagine the world without financial dependencies. For many, FI (Financial Independence) is about quitting their mundane jobs and pursuing some interest, like traveling around the world.
As I said in my previous post, I am not so enthused about where I am financially in my life. While that sounds down and out, I have to say that there are so many things in my life that I am extremely grateful for.
For one, I love my job and the company I work for. I truly enjoy the challenge of going to work everyday, working on intriguing strategies, leading a team of arguably some of the brightest minds in the world, executing on some amazing technology and making a social impact. It is all I could have asked for from my job.
So my journey toward FI is not about quitting my job. It is rather so that I can focus more on doing what I love.
As I write this post, I am trying to envision what a great future would look like. Thinking too far out makes it hard to map the steps I need to take from now to then.
So here is my simple goal.
“I want to be debt free so that I am not weighed down by the fact that I am spending my hard earned money on paying interest to some bank. I would like my hard earned money to contribute more to my savings. I want to work knowing that my work is paying toward a positive future. Every day, I want to take one more step toward having the option to say goodbye to work, in case the rosy work life I have today changes for the worse. “
What does that actually mean?
1. I want to pay off all my debt ASAP and be Debt free
2. I need to map out all my potential future expenses and calculate how much I need to truly be financially independent.
3. I need to work daily toward fulfilling those goals
4. I need to do all of these within a reasonable timeline – say 10 years.
OK. Now I have something I can work with!