Hands up for those nearing Financial Freedom
- Thread starter stumpie
- Start date
Financial freedom is closely linked to one's personal goal they've set
I believe many on here have the ability to reach their freedom soon, however, we choose to aim higher, hence marching on
I struggle to get motivated to go to work full stop.
Not near fin freedom, by the way.
I was and decided to pull the pin early.
I was about 2/3rds to 3/4 of the way there but decided if I didn't have to work that I could make the final 1/4 happen much quicker if I had more time and could concentrate on it.
It depends on your strategy though. For me it's developments and that takes a lot of time and is not a passive sort of income.
Just remember that before you pull the pin to line up all your ducks. I forgot to extend a LOC before I left and it's now biting me in the beehind but I have worked around it.
Your other option is to see if your employer will let you do leave without pay or something like that for 12mths and you can see if you can be happy on the what you have or grow it during that time.
Basically there.
Still working (for myself as a consultant) to accelerate paying down non-deductible debt and paying for middle child through school. Some might not call what I do work.
Whilst kids at home and school, there's little time to be enjoying or doing anything different with our crazy lives.
Thinking it will be mid to late 2015, fingers crossed.
Still working (for myself as a consultant) to accelerate paying down non-deductible debt and paying for middle child through school. Some might not call what I do work.
Whilst kids at home and school, there's little time to be enjoying or doing anything different with our crazy lives.
Thinking it will be mid to late 2015, fingers crossed.
In many respects I could probably restructure a whole lot of things and pull the trigger on this within a couple of years. I'd have to live a fair bit more frugally than I currently do, but it would be achievable.
The reality is that I'm way to young to not have to go to work. I also enjoy working in my business and it does give me a lot of the lifestyle that I want anyway.
I figure I'll keep working about another 15 years. By that time my financial position will probably be good enough that I'll be able to live whatever lifestyle I want pretty much forever.
The reality is that I'm way to young to not have to go to work. I also enjoy working in my business and it does give me a lot of the lifestyle that I want anyway.
I figure I'll keep working about another 15 years. By that time my financial position will probably be good enough that I'll be able to live whatever lifestyle I want pretty much forever.
sell everything and go on Centrelink
Financial Freedom
when I see FF on thefact find I know we are going to have fun exploration discussions
ta
rolf
Financial Freedom
when I see FF on thefact find I know we are going to have fun exploration discussions
ta
rolf
Been financially free since the age of 25, building here and there when I feel like it and only recently moved into building luxury homes waiting on DA instead of cardboard boxes. Best way is Start/Buy Business/ Develop Property/ Buy Shares.
And..........don't forgot spending the cash you make life is short.
And..........don't forgot spending the cash you make life is short.
This would make a good thread, you should start one and share your experiences, there needs to be more new members sharing more of how they did it...I personally find these threads to be inspiring motivating and refreshing
We were at that stage about 8 years ago. It's extremely tempting to cut the chains of your work if you have a JOB like I did.
We resisted that temptation for another 3 years.....it's very difficult to do. Looking at a prize that you have been working towards for 20 years and not simply give into the temptation of snatching it and running.
Yes, I found I wasn't a very good employee in the end. That massive temptation to stand on your own two feet is such a drawcard.
It's not good for you and it's not good for your employer.
Nowadays, I'd never employ anyone in that position. Much better to employ someone who absolutely needs the job.
Absolutely, that's why it took 3 years. One year to line up the ducks. One year to convince yourself you can do it, and then the hardest part of all, a full year convincing the wife her spending habits won't be affected.
To be serious though, looking back, I should of just jumped at the start and muddled thru it.
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This is an inspiring thread. It will be few years for me. However, i do have financial choices in certain situations thanks to investments
thanks to investments
Will be free by my 40th which is 16 months away.
Made a goal to be free from employment (no quals) by my 30th and made that with just months to spare.
Since then it's been a tough but rewarding 10 years in business, which allowed us to build a very nice property portfolio.
Made a goal to be free from employment (no quals) by my 30th and made that with just months to spare.
Since then it's been a tough but rewarding 10 years in business, which allowed us to build a very nice property portfolio.
So what are your plans when you "get there"? Sit and do nothing? Start your own business and risk your freedom in a big way?
Just wondering
The Y-man
So what are your plans when you "get there"? Sit and do nothing? Start your own business and risk your freedom in a big way?
Just wondering
The Y-man
my wife and i have built a good size asset base and we have 1 triplex project to deliver to increase the asset base to a level where we can say its more than enough in the acquisition phase. our LVR is reasonable at 65% right now and whilst the banks are throwing money around to increase their market share, we are increasing our LOC buffer to a significant amount.
i'm in my mid 40s and have a good paying job BUT it does not motivate me. i'm not one to idle around and do completely sweet FA, i'd want to give back some time to inspire and encourage kids with cancer as i had bone cancer when i was 15 and very fortunate to even be around now. i'd also continue to be a part-time investor in smallish developments. and then execute the next phase of my strategy to convert some resi properties to high yielding assets that i won't have to worry about rates, PM fees, repairs & maintenance etc
