Unless I’m relatively close with someone, I try not to mention my plans to retire early. In most scenarios that I’ve come across, the idea has not garnered the greatest reactions. One of the biggest questions I get is “What would you even do with all that time? Won’t you be bored?” I always reply with the same answer, “No.” Retirement is a very personal endeavour; your retirement is what you make it to be.
Happy New Years!
With the new year just starting, it’s never a bad time to think of some goals. Usually I’m not one to share my resolutions, I believe the more you talk about your goals, the less likely you are to achieve them. But for the sake of the blog and my one random reader, here are my three main goals for the year financially.
Like any other journey, the journey to FIRE has it’s own obstacles along the way. The biggest obstacle is the temptation to be spending on things that aren’t necessary to our lives. When bringing up FIRE to others, one of the biggest questions I’m asked is “Why deprive yourself of having fun when you’re young only to retire when you’re older and less likely to enjoy your time?” For me, the answer to that is always “I’m not”
One thing that’s brought up a lot less than raising your savings rate in financial articles is raising your income level.
Net worth change: +$958.15
My net worth went up this month while also covering a lot of expenses.
Net worth change: -$312.05
My net worth took a big plunge right when the month started, though it was with a few of one time expenses, though budgeted for.
Up until the beginning of last year, I was awful with money. I’m not sure what flipped the switch in my head, maybe it was paying minimum on my student debt or having credit card debt in the 4/5 thousands, or living paycheque to paycheque with 0 in the bank (Even putting myself into overdraft once or twice). I’m not really sure what flipped the switch, but I can tell you a few things that helped me keep it on.