MinDrench: The Nuts and Bolts of Financial Independence and Early Retirement
Welcome to MinDrenchTM, our monthly spotlight section featuring some of the best content to enrich your mind and help you on your journey to true happiness, fueled by financial independence. In MinDrench we promote content in the form of a blog post, podcast, documentary, book or any other published format.
FIRE (Financial Independence/Retire Early) is in the air in the Enchumbao household. We achieved financial independence last month and even though our lives continue to be the same, our mindsets feel at ease as we reached this milestone. Cheers to that!
For this edition of MinDrench, in celebration of financial freedom, we decided to feature the FIRE work and stories of some very talented bloggers that have achieved financial independence. Some of them went on to retire early and are truly living the dream.
These are their stories, philosophies and perspectives on what it means to reach this kind of financial success. Without any further ado, here are our picks of the month.
MinDrench for February 2017
1. The False Distinction Between Financial Independence and Early Retirement
Financial independence and early retirement are terms that are used interchangeably, but they don’t mean the same, or do they? Mrs. ONL from Our Next Life breaks down the very important differences between these two dueling concepts.
Let’s start things off today with a question: Tell us what you think in the comments. We’re going to make the case for one answer in this post, but as always, we love to hear opinions that are different from ours. And we’ve got a more important question coming later in the post…
2. Financial Independence is Not Just for the “Rich” or Wealthy
Do you need a high income to retire? Is FI only for the rich or wealthy? Steve, from Think Save Retire, believes that the underlying foundation of our ability to reach financial independence and retire early is a combination of income and saving. Your spending habits are a bigger determinant of whether you can become financially independent or not.
A few weeks ago we received a comment to our September budget article from a young reader who was impressed with our plan of financial independence and early retirement, but quickly grew disappointed once she saw our relatively high income.
3. My Philosophy on Financial Independence
Joe retired by 40 and became a stay-at-home dad. In this post he shares his personal philosophy on financial independence.
Later this week, I’ll fly down to San Diego to attend FinCon 2016, the world’s largest convention dedicated to financial content. I’ll be on the FIRE movement panel Thursday morning and I have a little homework to do. I have been asked to share my personal philosophy on Financial Independence.
4. My Path to Financial Independence
Physician on FIRE shares his interesting path to financial independence from his college days all the way to saving 30 times his annual spending. He’s the only guy I know that gets tipsy from his dividends: beer dividends from his local craft brewery investment, that is!
In My Story, I talked about the life circumstances that led me here, to create this blog after achieving financial independence.I didn’t give many details as to how that happened financially.I didn’t keep great track along the way, and didn’t know 10% of what I now know about personal finance, but I’ll do my best to recreate my path.
5. How I Retired at 34
Mr. Crazy Kicks retired last year. By optimizing expenses, he and his wife were able to save 70% of their income and retire way ahead of schedule.
Financial independence always seemed like a long journey to me, but when you continuously cut budget and stash away the rest, things will start to snowball. We had been big savers for years but in 2010, we set a firm … Continue reading →
6. Camp Mustache – Q&A with Mr. Money Mustache, Afford Anything, & The Military Guide
Mad Fientist shares a live Q&A session with Mr. Money Mustache, Paula Pant from Afford Anything, and Doug Nordman from The Military Guide! A big lesson from the podcast is to be frugal without depriving yourself. You also get varied and diverse perspectives on some of the most important questions facing those on the path to financial independence and early retirement!
This panel discussion took place back in May at Camp Mustache – an annual retreat in the Pacific Northwest organized by Mr. Money Mustache readers. In this episode, you’ll not only hear about…
What’s trending on Enchumbao
Earlier last month, Simplicity Voices, featured How to Find Your Formula for True Happiness, written by Mrs. Enchumbao. Thanks, Claire, for the feature.
Step into my office…have a seat in the comfortable armchair AKA the hammock…let’s talk about what makes you truly happy and how it ties into your purpose in life…what’s that?…you don’t know the answers to those questions? Well, in that case, let’s start with the basics.
Until next time…
This concludes our list of mind-drenching content for February. Spring is almost here for those of us in this hemisphere, so hang in there.
Our inspiring words for this month are:
“I remember saying to my mentor, ‘If I had more money, I would have a better plan.’ He quickly responded, ‘I would suggest that if you had a better plan, you would have more money.’ You see, it’s not the amount that counts; it’s the plan that counts.”
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Happy reading, listening or viewing!