How many people do you know who are spending money they have not yet earned for things they don’t need to impress people they don’t like?
–Edgar Allan Moss, January 1929
Welcome to The Fire Place! If you’d said to me 4 months ago that I’d be starting a blog about cutting costs, investing and targeting retirement before 50 I’d have tilted my head to the side and looked at you like a dog does when it’s confused, then I’d have laughed, heartily!
It was around that time my girlfriend tagged me in a Facebook post about a 30 something couple in the US who had recently retired. We had often joked about winning the lotto and quitting the rat race early, as many couples do no doubt. Neither of us for a minute thought it was possible in the absence of some form of miracle.
Intrigued, I clicked into the link and read this couples story. Both were well educated, both had good jobs, ‘a little bit like us’ I thought. They hardly spent a penny thought, cycling everywhere, bulk grocery shopped, lived in a tiny flat and wore extra hoodies in winter instead of switching the heating on. ‘Ugh, grim’ was my initial thought. We on the other hand, struggled to save even 10% of our monthly income, owned bikes we never used, received amazon deliveries every other day, and usually threw out more food than we ate.
Then came some graphs (I love a good graph!) which tracked invested savings over the short 8 year period they’d been saving for. $1,000,000 in 8 years! ‘Hmm, maybe not so grim after all’! I spent the next few weeks reading page after page of every personal finance, financial independence/retire early blog I could find. I was hooked. The game changer was Mr Money Mustache, who I’ve little doubt has directed more people to the road to FI than anyone else!
I’ll use this tiny corner of the internet to keep myself honest, and with any luck I might share a useful thought every now and again. My goal is to achieve Financial Independence in 15-20 years. Best place to start? At the beginning…