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February 07, 2014

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Love that "Debt: $0"!

Not necessarily one of the most exciting profiles; but this is the way the thing is done, most of the time. I actually find this pretty inspiring!

#20 - great story - and perfect illustration that saving and reinvesting consistently, over time, is probably the most realistic way to reach financial independence - thanks for sharing your thoughts...

Great advice and great job! It's amazing how many similarities there are in all of the millionaire stories.

Nice idea to semi-retire and start working for a non-profit you care about. So many of the early retirement and financial independence stories I read about involve the retiree just living the good and easy life.

Honestly, you could probably start to make that jump right now. Plan things out financially (more conservative portfolio, maybe get some real estate or start a side business for additional tax benefits) and see if it would work.

Good luck! Thanks for sharing!

Very insightful, I abide by many of the principles and concepts that were discussed in this article. (especially the section about not keeping up with the Joneses) thank you for sharing and providing a revelation to me.

Well done, #20, yours is an excellent roadmap.

Questions: what kind of 'estate planning' are you looking at? where would you like the bulk of your estate to go? How would it be distributed, and when?

The reason for my inquiry, is that my wife and I have no children or family to which we want to leave much. We can pick some of the satisfactions which we support, but are having a difficult time nailing down specifics. If you have any guidance or experience in this, I would love to hear it. Thanks for sharing your great story.

I like the point about being joyful. I know some will flame me for this, but I do think religious or spiritual folks have an easier time with the joy thing (not that atheists/agnostics can't, but I think the edge goes to the religious/spiritual folks).

#20...I kind of wonder why you couldn't think about moving toward working for that non-profit now. 1.5M in liquid / investable assets with a very conservative 3% withdrawal rate would be about $45K in income. That's a livable income if your house is paid for.

I love this profile, especially "don't be afraid to do without". Thanks for sharing!

@M9

Regarding estate planning, my wife and I are pretty sure that we don't want to pass on generational wealth to our heirs. We do have siblings and lots of nieces and nephews, but we'd like for them to make their own ways in life. We'll probably leave modest sums to our relatives and the bulk to charities.

In preparation for some year-end giving a couple months ago we asked ourselves the simple question, "What do we care about most?" This quickly led us to causes that we've supported in the past and are clearly important to us. I think that we'll decide upon the causes named in our will/trust in the same way.

Regarding those questions about why we wouldn't want to start implementing our non-profit career transition now:

We've got some extenuating circumstances that wouldn't allow us to do that right now. There's a chance that our lifestyle may change in the near future which would lead us on a different path.

Thank you all for your kind and encouraging comments, and I especially thank FMF for this blog. If you're a young person who regularly reads this blog, then you're way ahead of the game.

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