June 14, 2022: Starting to FI in Your 40s, The Tail End, 12 Lessons from 12 Great books
Starting the Journey to FI in Your 40s Brian wrote in with a story that I wanted to share in its entirety since it’s so relatable and shows how anyone can get started on the path to FI at any point by making small 1% decisions that add up to something extraordinary. Brian in his own words: “My 1% feels like one million percent! In September 2020, I decided to address $45k in debt. I committed to a more frugal lifestyle, applied almost every dollar possible towards the debt, and paid it off by May 2022. This freed up about $1,000 in monthly cash flow to reallocate to savings and investments. After wrapping up the debts, I revisited my financial plan, and I could hear echoes of words heard on the Choose FI podcast episodes, “After you reduce your monthly spending, you may need to increase your income to accelerate FI progress.” Well, I am happy to say, just one month after I paid off the debt, my employer notified me of a job promotion — including a $10k raise AND a $3k bonus. I am so excited as I have even more dollars to put towards the next step