What is financial independence?

If you're into personal finance you've probably heard the term "financially independent," but what does that even mean? Financial independence is the ability to live off the income of your own personal resources. Those personal resources could be stocks, bonds, real estates, businesses, annuities, royalties, or any other investments. Being financially independent (abbreviated as FI) … Continue reading What is financial independence?

I’ll be happy when…

How many times have you fallen into the trap of thinking, "I'll be happy when..."? I'll be happy when I... graduate, get a raise, make 6-figures, get married, have a perfect marriage, get in shape, have $X in my bank account, have a nicer house, drive a nicer car, don't have to work as many hours, get a better job, get my house paid off, finish this week/month/year, have a net worth of $X, get more vacation, or retire.