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theFIREstarter – Financial Independence. Retire Early

Greetings!

Welcome to theFIREstarter! If you are interested in themes such as Financial Independence, Retiring Early, Downshifting, or simply just working less and living more then please stick around, I think well get on just fine

If all of that sounds right up your alley then you can follow along by:

Subscribing by EmailFollowing me on twitterSubscribing by RSS feed

If you’d rather have a poke around first then by all means do so! You can always subscribe later by using the link at the top right of the menu above.If you want to get the full story you can start from the very first post here or for a more casual read, just see what catches your eye on the list of all posts page.

My thoughts and plans have slightly changed in the few years since I set up the blog, you can learn a little bit more about me and the main points on what those plans were and how they’ve changed here, here, here, here and finally here.

If you’d like to keep a track of new developments, money saving tips, money making tips, my adventures in attempting self sufficiency and simple living, free financial hacks and spreadsheets, and my general musings on Financial Independence, Personal Finance, investing, and the occasional humorous rant, then please consider following along. Those links again:

Subscribe by EmailFollow me on twitterSubscribe by RSS feed

Thanks for visiting!

TFS.x

*FANFARE*

Its here! The long awaited No Lay Acca Guide!

With a great fixture list on this lovely Tuesday evening, I though Id go above and beyond for you guys and get it out in time.

To be honest, I dont think there is much in here that is revolutionary but hopefully it will give most people at least a couple of shortcuts and avoid some mistakes if theyve never done it before and wanted to give it a crack.

Im not going to literally do a step-by-step guide on how to do an accumulator because its horrendously easy. You just go onto OddsMonkey, select the bookie you want, then pick the matches on the list until you are happy with the odds and selections in there, and then offski to the bookmaker website and put the bet on. I am going to assume you are using the OddsMonkey website for choosing your Accas in this guide, because it is the best Matched Betting Software Ive found out there. Whats more they dont charge you extra for the extra features such as this No Lay Acca tool, whereas some of the other ones Ive seen out there tend to do that. If you use one of the other ones, I am pretty sure the software is very similar and the tips below all still apply, so carry on reading either way! If you havent signed up to OddsMonkey yet you can do so here: Sign up to OddsMonkey (

Read the rest of this entry

The rest is here:

theFIREstarter – Financial Independence. Retire Early

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Continue reading here:

financial independence / early retirement – reddit

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Read the original post:

financial independence / early retirement – reddit

The 7 Stages of Financial Independence | Radical Personal …

You cant go from broke to rich in a single step. Theres no magic fairy who will suddenly transform your financial life for you. You have to do it yourself.

But you can work your way through a path that leads to financial independence and complete abundance. That path has stages and you should celebrate your progress at every stage!

We all begin from a place of dependence on others. You may be a young adult transitioning from under your parents care to being self-supporting. Or you may have hit a rough patch in life as an adult and needed the help and aid of others.

Regardless where youre starting from, the first step is to transition from being dependent on others to being self-supporting and financially solvent.

The first stage of financial independence is to become financially solvent. This means that you are able to support yourself on your own income without the aid of others and that you are current on all of your bills.

There are many strategies that you can employ depending on your starting point. You may need to create an income for the very first time in your life. You may need to transition from an unreliable or low income to a bigger and better income. Or you may need some ideas to renegotiate your debts with your creditors.

It doesnt matter why youre behind. It only matters that you get your income to a point where its equal to or greater than your expenses.

Once youre current on your bills, you need to build a buffer account. Call it what you willemergency fund, rainy day fund, cash reserves, buffer accountthe purpose is the same.

Unexpected problems happen. Unexpected opportunities present themselves. Youll need money. If you dont have any money saved, youll fall behind on your bills and wind up in debt. Or you wont be able to take advantage of a perfect opportunity because you didnt have the cash.

First you figure out how much you need in the buffer account. Then you save it. Then you declare yourself financially stable.

If you have debt, youll probably want to get rid of it. Not all debt is created equal. But youll need to sit down and look at your debts and make a plan to dump the debt thats not getting you closer to financial independence.

That definitely means getting rid of any high-interest rate debt. It certainly means clearing your name from any old, unpaid debts. It probably means dumping any consumer debt tied to depreciating assets. And it likely means having a plan to clear the debt on any productive business or investment assets.

Being debt free means you can enjoy greater freedom and independence in your life. And thats the whole point, isnt it?

Your long-term goal is to de-couple the expenses associated with your lifestyle from your need to work to pay for them. That happens when the income from your investments is sufficient to pay for them.

This happens in stagessmall at first and larger later. The first stage is to have your basic living expenses covered by your investment income.

That means your housing expenses, utilities, food, transportation, and insurance. When these basic needs of life are covered by your investment income youve attained a high degree of financial security.

When your current lifestyle expenses can be met with your investment income, youve reached the point of financial independence! Congratulations!

You can choose to disconnect yourself from work if you want to. But of course you might choose not to.

The key at this stage is simply to know that its up to you!

Its possible that you have some lifestyle goals which are beyond the lifestyle youre currently living.

This might be things you desire to buy, experiences you desire to have, or philanthropic goals you wish to meet.

If so, the important thing is to clarify these goals and fund them with your investment income. At that point in time, youre truly financially free in every sense of the word.

When you reach this stage of your financial journey, youve reached the most challenging stage of all. But it can be a very enjoyable challenge!

Youve accumulated wealth beyond the amount needed to fund your own lifestyle expenses with a comfortable margin of safety.

Now you have to decide how to responsibly manage the surplus. How will you allocate it productively while you control it? And who will control it when youre done with it? How will you assure that the money is used for good and not for evil?

Its a real challenge, but its one faced by all those who have faithfully and steadily built wealth throughout their lifetimes. Its the most important stage of all.

Go here to see the original:

The 7 Stages of Financial Independence | Radical Personal …

theFIREstarter – Financial Independence. Retire Early

Dont think this guy will be winning any races any time soon

Any Matched Bettor worth their salt will know that its Cheltenham tomorrow and those more serious than I am have probably been preparing for it weeks or maybe even months in advance, as there are some long term Pre-Cheltenham offers flying about.

Anyway, I did alright out of the festival last year which was partly due to a bit of luck but also partly down to some major hustlin, hitting up as many offers as I could, and also, I think, using my No Lay policy of never bothering to lay anything off on the exchanges. If you want to read more about that see my Cheltenham Part I write up from last year.

As I did so well last year using this tactic, I will certainly be doing it again this year (the major benefits really are less time to trigger each offer, and less/no money needed in the exchange accounts, rather than greater expected winnings, as this could go the other way and end up I could end up losing money, in theory!).

As usual I wouldnt suggest anyone else do this unless they fully accept they could put a lot of effort into the week and still end up losing money. So most people are best off sticking to true MB where you back and lay each horse and free bet to guarantee yourself some profit.

With that caveat out of the way here is a list of what I feel are the best offers to be hitting up this week at Cheltenham.

Read the rest of this entry

More:

theFIREstarter – Financial Independence. Retire Early

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Read more:

financial independence / early retirement – reddit

theFIREstarter – Financial Independence. Retire Early

Dont think this guy will be winning any races any time soon

Any Matched Bettor worth their salt will know that its Cheltenham tomorrow and those more serious than I am have probably been preparing for it weeks or maybe even months in advance, as there are some long term Pre-Cheltenham offers flying about.

Anyway, I did alright out of the festival last year which was partly due to a bit of luck but also partly down to some major hustlin, hitting up as many offers as I could, and also, I think, using my No Lay policy of never bothering to lay anything off on the exchanges. If you want to read more about that see my Cheltenham Part I write up from last year.

As I did so well last year using this tactic, I will certainly be doing it again this year (the major benefits really are less time to trigger each offer, and less/no money needed in the exchange accounts, rather than greater expected winnings, as this could go the other way and end up I could end up losing money, in theory!).

As usual I wouldnt suggest anyone else do this unless they fully accept they could put a lot of effort into the week and still end up losing money. So most people are best off sticking to true MB where you back and lay each horse and free bet to guarantee yourself some profit.

With that caveat out of the way here is a list of what I feel are the best offers to be hitting up this week at Cheltenham.

Read the rest of this entry

The rest is here:

theFIREstarter – Financial Independence. Retire Early

theFIREstarter – Financial Independence. Retire Early

Dont think this guy will be winning any races any time soon

Any Matched Bettor worth their salt will know that its Cheltenham tomorrow and those more serious than I am have probably been preparing for it weeks or maybe even months in advance, as there are some long term Pre-Cheltenham offers flying about.

Anyway, I did alright out of the festival last year which was partly due to a bit of luck but also partly down to some major hustlin, hitting up as many offers as I could, and also, I think, using my No Lay policy of never bothering to lay anything off on the exchanges. If you want to read more about that see my Cheltenham Part I write up from last year.

As I did so well last year using this tactic, I will certainly be doing it again this year (the major benefits really are less time to trigger each offer, and less/no money needed in the exchange accounts, rather than greater expected winnings, as this could go the other way and end up I could end up losing money, in theory!).

As usual I wouldnt suggest anyone else do this unless they fully accept they could put a lot of effort into the week and still end up losing money. So most people are best off sticking to true MB where you back and lay each horse and free bet to guarantee yourself some profit.

With that caveat out of the way here is a list of what I feel are the best offers to be hitting up this week at Cheltenham.

Read the rest of this entry

More here:

theFIREstarter – Financial Independence. Retire Early

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Follow this link:

financial independence / early retirement – reddit

financial independence / early retirement

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Visit link:

financial independence / early retirement

Financial independence – Wikipedia

For the concept of independence from another person for support, see Dependant.

Financial independence means you have enough wealth to live on without working.[1][2] Financially independent people have assets that generate income (cash flow) that is at least equal to their expenses. Income you earn without having to work a job is commonly referred to as “passive income”.[3] For example, if someone receives $5000 in dividends from stocks they own, but their expenses total $4000, they can live on their dividend income because it pays for all their expenses to live (with some left over). Under these circumstances, a person is financially independent. A person’s assets and liabilities are an important factor in determining if they have achieved financial independence. An asset is anything of value that can be readily turned into cash (liquidated) if a person has to pay debt, whereas a liability is a responsibility to provide compensation. (Homes and automobiles with no liens or mortgages are common assets.)

Age and existing wealth or current salary don’t matter – if someone can generate enough income to meet their needs from sources other than their primary occupation, they have achieved financial independence. If a 25-year-old has $100 in expenses per month, and assets that generate $101 or more per month, they have achieved financial independence, and they are now free to spend their time doing the thing they enjoy without needing to work a regular job to pay their bills. If, on the other hand, a 50-year-old earns $1,000,000 a month but has expenses that equal more than that per month, they are not financially independent because they still have to earn the difference each month just to make all their payments. However, the effects of inflation must be considered. If a person needs $100/month for living expenses today, they will need $105/month next year and $110.25/month the following year to support the same lifestyle, assuming a 5% annual inflation rate. Therefore, if the person in the above example obtains their passive income from a perpetuity, there will be a time when they lose their financial independence because of inflation.

There are many strategies to achieve financial independence, each with their own benefits and drawbacks. To achieve financial independence, it will be helpful if you have a financial plan and budget, so you know what money is coming in and going out, have a clear view of your current incomes and expenses, and can identify and choose appropriate strategies to move towards your financial goals. A financial plan addresses every aspect of your finances.[4]

Since there are two sides to the assets and expenses equation, there are two main directions one can focus their energy: accumulating assets or reducing their expenses.

Accumulating assets can focus one or both of these approaches:

Another approach to financial independence is to reduce regular expenses while accumulating assets, to reduce the amount of assets required for financial independence. This can be done by focusing on simple living, or other strategies to reduce expenses.[5][6]

The following is a non-exhaustive list of sources of passive income which potentially yields financial independence.

Read this article:

Financial independence – Wikipedia

theFIREstarter – Financial Independence. Retire Early

Greetings!

Welcome to theFIREstarter! If you are interested in themes such as Financial Independence, Retiring Early, Downshifting, or simply just working less and living more then please stick around, I think well get on just fine

If all of that sounds right up your alley then you can follow along by:

Subscribing by EmailFollowing me on twitterSubscribing by RSS feed

If you’d rather have a poke around first then by all means do so! You can always subscribe later by using the link at the top right of the menu above.If you want to get the full story you can start from the very first post here or for a more casual read, just see what catches your eye on the list of all posts page.

My thoughts and plans have slightly changed in the few years since I set up the blog, you can learn a little bit more about me and the main points on what those plans were and how they’ve changed here, here, here, here and finally here.

If you’d like to keep a track of new developments, money saving tips, money making tips, my adventures in attempting self sufficiency and simple living, free financial hacks and spreadsheets, and my general musings on Financial Independence, Personal Finance, investing, and the occasional humorous rant, then please consider following along. Those links again:

Subscribe by EmailFollow me on twitterSubscribe by RSS feed

Thanks for visiting!

TFS.x

Hi all MBs out there, hope you had a great Cheltenham week last week and have recovered over the weekend?

I am still quite knackered. I was up at 5:30 every day last week to get into work early to get all my bets on (and then more throughout the day). It was manic to say the least.

Anyway, was it worth it? This year Im afraid the answer turned out to be no but I dont regret giving it a shot because as they say youve gotta be in it to win it! What will be interesting to work out is how much I could have roughly made with Proper matched betting as opposed to my no lay strategy, so that is what I am going to focus on here in my analysis.

Im not going to go through a race by race round up as I did last year, because A) I havent got time, B) Doing that spanned 3 posts last year! and C) I think it would just depress me too much

So Ill just go through day by day stats and write up a few notes of each day that were of interest.

Total Profit: 395

Total Free Bets: 310

Estimated Profit Normal MB: 230

Read the rest of this entry

View post:

theFIREstarter – Financial Independence. Retire Early

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Read more from the original source:

financial independence / early retirement – reddit

ChooseFI | Join the Financial Independence Movement

Most of us spend our time on earth thinking that we know the rules. We stumble through life making the same choices as our peers and our parents. We stay inside the lines and we make safe choices. Predictable choices like a 9-5 job, a 30 year fixed mortgage and a 4% savings rate in our 401K

What if you woke up one day and realized that these normal choices were horrible and there was a better way?

See the rest here:

ChooseFI | Join the Financial Independence Movement

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

Continue reading here:

financial independence / early retirement – reddit

theFIREstarter – Financial Independence. Retire Early

Greetings!

Welcome to theFIREstarter! If you are interested in themes such as Financial Independence, Retiring Early, Downshifting, or simply just working less and living more then please stick around, I think well get on just fine

If all of that sounds right up your alley then you can follow along by:

Subscribing by EmailFollowing me on twitterSubscribing by RSS feed

If you’d rather have a poke around first then by all means do so! You can always subscribe later by using the link at the top right of the menu above.If you want to get the full story you can start from the very first post here or for a more casual read, just see what catches your eye on the list of all posts page.

My thoughts and plans have slightly changed in the few years since I set up the blog, you can learn a little bit more about me and the main points on what those plans were and how they’ve changed here, here, here, here and finally here.

If you’d like to keep a track of new developments, money saving tips, money making tips, my adventures in attempting self sufficiency and simple living, free financial hacks and spreadsheets, and my general musings on Financial Independence, Personal Finance, investing, and the occasional humorous rant, then please consider following along. Those links again:

Subscribe by EmailFollow me on twitterSubscribe by RSS feed

Thanks for visiting!

TFS.x

Dont think this guy will be winning any races any time soon

Any Matched Bettor worth their salt will know that its Cheltenham tomorrow and those more serious than I am have probably been preparing for it weeks or maybe even months in advance, as there are some long term Pre-Cheltenham offers flying about.

Anyway, I did alright out of the festival last year which was partly due to a bit of luck but also partly down to some major hustlin, hitting up as many offers as I could, and also, I think, using my No Lay policy of never bothering to lay anything off on the exchanges. If you want to read more about that see my Cheltenham Part I write up from last year.

As I did so well last year using this tactic, I will certainly be doing it again this year (the major benefits really are less time to trigger each offer, and less/no money needed in the exchange accounts, rather than greater expected winnings, as this could go the other way and end up I could end up losing money, in theory!).

As usual I wouldnt suggest anyone else do this unless they fully accept they could put a lot of effort into the week and still end up losing money. So most people are best off sticking to true MB where you back and lay each horse and free bet to guarantee yourself some profit.

With that caveat out of the way here is a list of what I feel are the best offers to be hitting up this week at Cheltenham.

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theFIREstarter – Financial Independence. Retire Early

financial independence / early retirement – reddit

This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money.

Before proceeding further, please read the Rules & FAQ.

Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. This subreddit deals primarily with Financial Independence, but additionally with some concepts around “RE”.

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. The purpose of this subreddit is to discuss FI/RE strategies, techniques, and lifestyles no matter if you’re retired or not, or how old you are.

FI/RE is about:

Discovering and achieving life goals: What would I do with my life if I didn’t have to work for money?”

Simplifying and redesigning your lifestyle to reduce spending. Your wants and needs aren’t written in stone, and less spending is powerful at any income level.

Working to increase your income and income streams with projects, side-gigs, and additional effort

Striving to save a large percentage (generally more than 50%) of your income to accelerate achieving FI

Investing to make your money work for you, and learning to manage/optimize those investments for the unique nature of FI/RE

Retiring Early

FI/RE is NOT about:

Gaining wealth for the purpose of excessive consumption

Taking the slow road, or the traditional road to retirement

Becoming financially independent requires hard work and a healthy attitude towards money, but also a degree of privilege. When participating on this subreddit, please be mindful of the ways in which you are lucky.

Please read the FAQ and Rules above, then feel free to share your journey or ask for advice!

Blogs sorted by Alexa rank (500k min)

Forums

More to read

Tools

Books / Resources

Reddit resources

Closely related subs

Regional FI/RE

Regional Personal Finance

Money subs

Lifestyle (frugal) subs

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financial independence / early retirement – reddit

Welcome – Reach Financial Independence

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Welcome – Reach Financial Independence

The 7 Stages of Financial Independence | Radical Personal …

You cant go from broke to rich in a single step. Theres no magic fairy who will suddenly transform your financial life for you. You have to do it yourself.

But you can work your way through a path that leads to financial independence and complete abundance. That path has stages and you should celebrate your progress at every stage!

We all begin from a place of dependence on others. You may be a young adult transitioning from under your parents care to being self-supporting. Or you may have hit a rough patch in life as an adult and needed the help and aid of others.

Regardless where youre starting from, the first step is to transition from being dependent on others to being self-supporting and financially solvent.

The first stage of financial independence is to become financially solvent. This means that you are able to support yourself on your own income without the aid of others and that you are current on all of your bills.

There are many strategies that you can employ depending on your starting point. You may need to create an income for the very first time in your life. You may need to transition from an unreliable or low income to a bigger and better income. Or you may need some ideas to renegotiate your debts with your creditors.

It doesnt matter why youre behind. It only matters that you get your income to a point where its equal to or greater than your expenses.

Once youre current on your bills, you need to build a buffer account. Call it what you willemergency fund, rainy day fund, cash reserves, buffer accountthe purpose is the same.

Unexpected problems happen. Unexpected opportunities present themselves. Youll need money. If you dont have any money saved, youll fall behind on your bills and wind up in debt. Or you wont be able to take advantage of a perfect opportunity because you didnt have the cash.

First you figure out how much you need in the buffer account. Then you save it. Then you declare yourself financially stable.

If you have debt, youll probably want to get rid of it. Not all debt is created equal. But youll need to sit down and look at your debts and make a plan to dump the debt thats not getting you closer to financial independence.

That definitely means getting rid of any high-interest rate debt. It certainly means clearing your name from any old, unpaid debts. It probably means dumping any consumer debt tied to depreciating assets. And it likely means having a plan to clear the debt on any productive business or investment assets.

Being debt free means you can enjoy greater freedom and independence in your life. And thats the whole point, isnt it?

Your long-term goal is to de-couple the expenses associated with your lifestyle from your need to work to pay for them. That happens when the income from your investments is sufficient to pay for them.

This happens in stagessmall at first and larger later. The first stage is to have your basic living expenses covered by your investment income.

That means your housing expenses, utilities, food, transportation, and insurance. When these basic needs of life are covered by your investment income youve attained a high degree of financial security.

When your current lifestyle expenses can be met with your investment income, youve reached the point of financial independence! Congratulations!

You can choose to disconnect yourself from work if you want to. But of course you might choose not to.

The key at this stage is simply to know that its up to you!

Its possible that you have some lifestyle goals which are beyond the lifestyle youre currently living.

This might be things you desire to buy, experiences you desire to have, or philanthropic goals you wish to meet.

If so, the important thing is to clarify these goals and fund them with your investment income. At that point in time, youre truly financially free in every sense of the word.

When you reach this stage of your financial journey, youve reached the most challenging stage of all. But it can be a very enjoyable challenge!

Youve accumulated wealth beyond the amount needed to fund your own lifestyle expenses with a comfortable margin of safety.

Now you have to decide how to responsibly manage the surplus. How will you allocate it productively while you control it? And who will control it when youre done with it? How will you assure that the money is used for good and not for evil?

Its a real challenge, but its one faced by all those who have faithfully and steadily built wealth throughout their lifetimes. Its the most important stage of all.

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The 7 Stages of Financial Independence | Radical Personal …


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