Hello there! Welcome to the Reaching F.I.R.E. (Financial Independence, Retire Early) blog! My name is Scott, and I will be your guide on this journey.
Growing up in a working-class family in rural Southern Indiana has taught me financial skills at a young age. Beginning work at a small town restaurant, at age 14, allowed me to develop a sense for the value of money, and how hard I had to work to earn it. At $5.15 per hour, the federal minimum wage at the time, I recognized very quickly that my paycheck did not go very far. However, the job experience at a young age proved to be infinitely valuable…. priceless, even, as it unlocked a new way of thinking about life, money, and the value of my time.
Fast forward 16 years. I have completed two Bachelor’s degrees and one Master’s degree, at age 30. My wife and I both work, saving money and living frugal lives.
At my current rate, I should reach F.I.R.E. at the ripe old age of 35, allowing me to spend an unlimited amount of time with my family and friends.
F.I.R.E. Wisdom #1: “You can always make more money, but you cannot make more time.”
How can I possible do that? If you only remember one sentence from this blog, this is it: Save and invest a minimum of 50% of your paycheck. You can include your 401(k) or 403(b) contributions into this calculation. Saving your hard-earned cash is the only way you will build wealth, and allowing yourself to “buy your freedom” from the debt that has enslaved you for so many years.
With the amount of excessive advertisements on TV, radio, and the internet, it is hard to awaken from the dream that you should be “living your life to the fullest,” by maxing out your credit cards, dining out at the swankiest upscale restaurants, drinking fancy cocktails, and filling up jumbo SUV with the latest electronic gadgets and name-brand clothing, and parking your SUV inside your four car garage, built onto the side of your McMansion in the suburbs of Anywhere, USA. This level of consumerism, however enticing, is not the least bit sustainable (or healthy) for the majority of Americans, even for the fortunate few that have a six-figure income.
This blog provides a dose of reality, mixed in with tips, tricks, and wisdom to reveal how the average Joe (or Jill) can wake up from the “American Dream,” and prioritize lifelong goals that have meaning, such as finding contentment with daily life, spending time with friends and family, and maximizing a healthy lifestyle.
This blog will tackle all varieties of topics, including:
Cars
“Finding an Affordable, Reliable Vehicle,” “Commuting: Time and Money You Will Never Get Back,” “Maximizing MPG: Your Car Will Thank You Later”
College
“Surviving College Without Racking Up $100,000 in Student Loans,” “How to Win the Textbook Game,” “Picking the Right Degree Will Save You Thousands, and Possibly Make You Millions,”
Home
“Finding the Right Home, at the Right Price,” “Mortgage Tips and Tricks: What You Need to Know,”
Personal Finance
“How to Save Your Money: Budgeting,” “How Much Do I Need in my Emergency Fund?,” “Understanding Retirement Accounts.”
This blog has three main goals:
- Educate and entertain readers about their financial lifestyle and well-being.
- Discuss a spectrum of financial choices, ranging from frugal to expensive, and letting you decide what is best for you.
- Help people reach their financial goals, and get them on track to live below their means and informing them to make positive choices about life and retirement.
That’s all that I have for now.
Keep learning, keep growing.
~Scott