If you are as naïve as I was when I first started investing 15 years ago, you probably assume you will be paying the tax man until the day you die. The only thing certain in life is “Death and Taxes” right? Wrong! At least, when it comes to income taxes.
FI
How to reach FI in 4 steps
Financial Independence is the point where you have accumulated 25X your retirement budget in investments. For most, this will require $1M or more. Is that a daunting figure? Not really. You can achieve it in 15 years or less following 4 simple steps.
I became a Multimillionaire in 15 years on average pay
Believe it or not, I became FI by 40 with limited investment knowledge. I didn’t have a high powered salary, I didn’t pick winning stocks, nor did I live off ramen. Read on and I will share my personal financial story that led me to FI on a modest salary (and you can too!).
How FI will change your life
In Office Space, corporate burnout Peter is obsessed with obtaining a million bucks (a figure with which he can presumably quit work forever). Surely you would love to obtain $1M too, become master of your own life, and have the freedom to do whatever you want . . . or do nothing at all. This goal is known as Financial independence (FI for short).