I am 37 years old and started my journey to financial independence when I graduated from college in 2001. My goal is to achieve financial independence by the age of 50. I define financial independence as the ability to live the lifestyle I chose with little to no financial constraints. That lifestyle choice may or may not include a '9-5' job. It may or may not include extravagent trips around the world. It could include the freedom to start a business or invest in one for which I have a passion. It might include the freedome to make a large gift to a cause or group that is fighting a noble cause. Bottom line, I want those choices to be mine without constraint of my bank account. So, what is the dollar amount that equals financial independence for me? I am not sure. I have set goals along the way but not yet discovered what dollar amount will be. That will be part of my journey here with you.
This blog will be primarily about my journey towards financial independence - my investment philosophy, investment choices, trends in different industries that look like exciting ways to make money, alternative investments, real estate and more. I plan to share with you what I have done in the past to reach the point I am at today. I wil share with you my goals going forward. I will track my performance verses my plan for all componenets of my net worth. I will share my mistakes and lessons learned.
In addition, I will occasionaly post about good books, intersting web sites and other personal interests. I think these 'off-topic' topics will make this blog more human and intersting to most readers.
So then, how about me and my general intersts. I enjoy reading. I read mostly non-fiction and topics including leadership, technology, current affairs, investing, the oil & gas industry, economics, the way the world works, the way people make decisions - just to name a few. I also like to read investment newsletters. I subsribe to more than I can read but can't help myself. It is my addiction. I generally try to consume as much about the way the world works as my brain can handle.
My current net worth is about $2,800,000. My wife and I have normal jobs. We have saved and invested diligently from the time we started working full-time after college. We have not done anything extraordinary; but through hard work and discipline we are on our way to the financial independence I referenced earlier.
Our portfolio includes one piece of investment rental real estate, a modest portfolio of individual stocks, two IRA accounts, two 401(k) accounts, a 529 college savings account, and a target date retirement mutual fund. Enough for now. In upcoming accounts, I will outline my current holdings in more detail. Then I will get into plans going forward. Until later - good investing!
Congrats on starting your blog! I look forward to reading your upcoming posts and checking out your investments.
ReplyDeleteThanks for the encouragement. Looking forward to trading ideas and getting your feedback.
ReplyDeleteI am impressed indeed, I would say that a net worth of over $2 million would be financial freedom to me.
ReplyDeleteRegards,
Joe
J.A.,
DeleteThanks for stopping by and your kind words. 13 years ago when I set out on my investing journey, I would have said $2 million would be financial freedom for me also. I guess my expectations have grown along with my portfolio. I hope you follow along in my journey. I think we can share lots of learning and great ideas. Again, thanks for stopping by.
Very power message. I am definitely tagging your blog to read up on and follow your progress.
ReplyDeleteWhat fascinates me is that you've achieved your initial financial goals ($2 million per your previous comment) but you've slid your scale on to bigger and better goals. I find it fascinating to see how people react/respond once they've gotten to where they once thought was "financial independence."
I could see myself viewing $2 million as financial independence. I could probably squeeze at least $100k in interest/gains per year out of that kind of money. At the same time, I can envision doing exactly what you're doing and just adjusting my goals higher. If I can get $100k per year out of $2 million, I could get $200k per year out of $4 million. Why the heck not?
Kudos to you, friend. I'm excited to watch your progress!
The Caveman,
DeleteThanks for stopping by. I appreciate you taking the time to leave a message. I love to see messages from people that are taking the time to read my blog. I am also glad to hear that you will follow along on my journey!
As I wrote in my post about why I picked $100 million as my next goal, I enjoy the journey as much as the destination so why not chose an audacious goal. I think it will stretch me to consider alternate investments and find other sources of income to invest.
I am always interested in any feedback you have on my journey. Glad you are going to follow along!
I checked out your site and ready a few posts. Some good content! Looking forward to exchanging ideas.