Number 1 best thing about attaining financial independence

[Packratona!]

Woke up this morning with this thought/thankfulness:
The #1 advantage for me in finally attaining FI, is increased ability to liberate myself from the control of toxic damaging persons.
What about you? I would imagine that the answer would vary with different people.

[pinkytoe]

Having recently retired, my numero uno thing is not having to roll out of bed at 5:30 am. I imagine it changes as the realization hits that toil is no longer necessary.

[Tybee]

I am still working, and since I am not really at FI yet, I guess I would say "increased ability to liberate myself from the control of toxic damaging work situations."

[Packratona!]

I guess both of the above comments are all about CHOICE. The ability to choose your own schedule for work, who you work with, what work you do, etc. Really, FI is not about NOT working; it is about choice in work. Even if your work consists, at times, of "dreaming" or fantasizing for hours on end.

[razz]

My FI moment came when I didn't have to meet another's expectations which often were limiting in scope. When one sees a healthcare need and cannot respond it is so frustrating.

[Teacher Terry]

I love being in charge of my own time, no more stupid rules, regs, etc. Also my new p.t. job which is teaching an online college class that I love.

[Tybee]

How do you define FI, Packratonia? I make my living teaching online--used to be ft but now part-time, and it is a part of how I pay the bills. Do you define FI as not having to work at all to pay the bills?

[Teacher Terry]

Tybee, I did not realize we both did the same thing. Some people define it as not needing to earn $ to support yourself.

[Tybee]

Tybee, I did not realize we both did the same thing. Some people define it as not needing to earn $ to support yourself.

Yup, I have been teaching online for 12 years now.

I think I try to support myself now so as to not go into principal, for fear that I would outlast my money. That;s where I think the idea of FI gets tricky. So if, for example, someone retired expecting ACA to bridge gap until Medicare, and now thinks going back to work a necessity, then have they lost FI?

[ToomuchStuff]

I think your second post, CHOICE, is more apt. To me it is peace of mind, to be able to choose if I want to buy something or not, not to have the mortgage payment over my head etc. I only wish that feeling went with utility bills, etc. as I have the money in the account, but still live with them in the paycheck to paycheck mindset. (consider savings, FOR something, not just normal life expenses)
Unfortunately, there is only so much control one has when it comes to toxic individuals.

[Teacher Terry]

Having a choice to work or not is great. Also my university is totally hands-off so in effect I don't have a boss telling me what to do. The first year I met with them once at the end of the term and now never. I suppose it is the students that control my destiny as in if I started to get bad reviews they probably would not renew my contract.

[Tybee]

Yeah, I definitely like my hands off gig a lot better than micromanagement U.

[frugal-one]

FI... the ability to do WHATEVER I want WHENEVER I want. No thoughts about money. I am frugal by nature so still try to find "deals" for things but there is no need to do without. No need to maintain an "image" or have to "look the part". I got rid of all dress clothes since I HAD to dress up each day when working. Now I dress for comfort and try to find classic clothes that I can wear out. I hate to shop! Life is GREAT!

[Packratona!]

I define being financially independent as having enough saved to be able to live an enjoyable productive life, with all needs met, without the necessity of a paying job to bring in income. You live off of the interest from investments. That is not to say that you don't work for or earn money; you just don't have to, in order to live comfortably and have adequate for your needs. If you do work, you use the money for non-essential "extras". Now the trick is, defining what amount of income from investments you really need, to achieve this state of being. It is very instructive to see how low you can get that number. How little can/could you live on contentedly? Can you tweak that? Can you stretch yourself, and learn to live on way less cash than you thought possible, and very happily? Many, many people just do not have the attitude and skills to be able to do that. For those who develop them over time, it leads towards financial independence. You have learned how to live on much less money happily; so much less, that it leads you to wonder why you are sacrificing your dreams for a job you hate?


How do you define FI, Packratonia? I make my living teaching online--used to be ft but now part-time, and it is a part of how I pay the bills. Do you define FI as not having to work at all to pay the bills?

[pinkytoe]

learn to live on way less cash than you thought possible
I guess I have been fortunate as I have never known or worked with someone I considered toxic though some family members probably came closest to that description. As a new retiree, it is actually kind of fun to make a budget of sorts based on our income (pension, SS) and then look for ways to do it on even less without feeling deprived. We will continue to add to our savings pot monthly and hopefully not need to touch that for years. My new goal now is to reduce our grocery bill by a third which is a real challenge in our new state of Colorado. We are down to one paid for car so that saves a lot too.

[Teacher Terry]

WE have 2 cars but when one dies we will go to one car. There are days neither car leaves the driveway. However, my DH is starting a 2 year consulting job and all but 6 months will be out of town so need 2 cars for now. WE are actually spending more $ the last few years but that is because we are taking 2 big trips a year and some small ones. After seeing what has happened to a number of our friends in their 50's & 60's we are taking no chances. WE took a cruise in Aug and are taking another one next week. The first year of retirement I cut our bills down as much as possible.

[Tenngal]

Woke up this morning with this thought/thankfulness:
The #1 advantage for me in finally attaining FI, is increased ability to liberate myself from the control of toxic damaging persons.
What about you? I would imagine that the answer would vary with different people.

can't say we are FI because we both still work for healthcare and benefits. Hubby retires next Dec and I have at least 5 more years.
We've had our share of toxic people in the workplace and he will be suffering for 12 more months. Things are better for me, for the time being.
There are evil people who seem to exist only to force their greed and control issues onto others.................