In fact, the FIRE community seems to focus less on the “retire early” aspect of the movement and more on the financial independence component, “which is a powerful aspirational goal that is readily achievable if people are willing to make some small, but important, optimizations in their lives,” said Jonathan Mendonsa, co-host of the ChooseFI podcast. 

financial freedom and happiness


My wife continues to work a really good sales job. I retired from corporate America in 2015 to work and consult with startups. I’m currently a co-founder of a healthcare software and services startup. I also have a pension that kicked in right after I turned 60 last October. Our combined incomes/pension are around 250K with our only debt being our mortgage which still has 7 years left @ 3.5%. I’m also thinking about paying a little extra toward principal to shorten the term to 5 years and coincide with when I turn 65.
5. Fiverr – Fiverr is a great place to make a few bucks or spend a few bucks if you need some of the services people offer. Basically, everything is $5. You either pay $5 or charge $5. They call them “gigs.” You can offer your services however you choose. If you sell art and you’re fine selling pieces for $5 each, that’s a gig. If you’re a graphic designer and you want to offer your services for $10/hour, simply offer a 30 minute gig. If they need two hours of graphic design, they pay you $20, or $10/hour by buying four gigs.
I have been reading some of your posts, and jlc and mmm, and I have no idea exactly where to post this question or to whom. My husband and I already live by debt-free principles, although not necessarily 100% minimalist, though I am trying to move us in that direction. Anyway, I am wondering if you or anyone knows how to calculate the impact of this lifestyle on children who reach college age? We have four kids, are car-free, pay low rent, and minimal expenses, and while we won’t necessarily reach FI before they all reach college age, I am wondering if there is a calculator to find the tipping point for income vs. savings vs. eligibility for college financial aid, to help us understand how the balance works. I just don’t want any surprises in that realm. My husband and I both paid most of our way through college, with a little help here and there, and my kids already understand that they have to work for what they want–we do not give them money, so they know that if they want money they go out into the neighborhood and work odd jobs for people who are willing to pay. The idea that they might have to pay their own way through college would not be a surprise to them, but I still want to proceed with knowledge of how all these factors fit together. Any direction you could give us on where to look for how to calculate these factors and their balance would be a huge help.
If you have 20 years left to live and only require $60,000 a year, having $1,200,000 can also be considered enough even if you make zero return. The only problem is that your purchasing power will decline by ~2% a year due to inflation. The other problem is that you don’t know exactly how many years you have left to live. Therefore, it’s always better to have more rather than less.
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