Hi all! I figured now would be a good time for me to reflect on my financial journey, who I am, and where I want to be in the future.
The basics… my name is Janae.
I live in Wisconsin, I’ll be 26 in a couple of weeks, I work in financial services compliance, blah blah. When I first created my Twitter back in August – I really didn’t have any desire to create a blog to go with it. But 2019 has been my year to play around with different side hustles/ventures and see what I like the best – I’ve found having a blog/website to be a good place to document my journey (and Twitter has been regulated for memes).
Onto the main attraction… FIRE. We know it, we love it. If for some reason you’re not yet indoctrinated, FIRE = financially independent, retiring early.
What does FIRE and financial independence mean to me?
I had a hard shift in mindset in fall/winter of 2018. In September 2018, I left my first “adult job” for something new in the same field. At my first job, I got to travel all of the time, my coworkers felt like family, and my workload wasn’t too heavy – I didn’t realize how great I had it back then. When I started my second job, I felt the change in culture and atmosphere pretty quickly upon settling in. I was surrounded by a lot of inexperienced, young managers, office morale/outlook was low, and my coworkers were cordial, but not all that nice. It was then that I realized the necessity to secure my financial future and create a life where I didn’t need to work for money.
That’s what FIRE means to me – the security to spend my time how I choose. The freedom to succeed and thrive on my own terms, not when tax laws *allow* me to access my retirement funds. I am no longer comfortable subsidizing my financial freedom with a car payment every month and an apartment full of things. (An aside… that all felt really good and invigorating to write.) ❤
And now… the number$! I have been maintaining a spreadsheet with my net worth since late November 2017 (and thank god because I was probably around -$10k for the majority of 2015 and 2016). A chart of my net worth (NW) since that time is below.
- November 2017: Here I had probably 10k in credit card debt and was hardly throwing anything more than the minimum due @ it every month. I took two international trips in 2017, and one in 2016 (each 10 days) – to my bank account’s dismay…
- Late-fall (?) 2018: The spike in money was relocation incentive and then the subsequent decline was moving expenses for the aforementioned ‘second job’.
- December 2018: Received a small inheritance from a family member’s passing.
- June 2019: 10 day trip to Europe and expenses incurred by an out of state move for another new job!
- September 2019: I finally started to automate my saving. Previously I was just throwing money into my investments whenever I felt like (which wasn’t very often). Now I have an auto transfer from my savings → checking every month. And then from checking → investments. It all happens without any input on my part.
As it stands now in early December, my net worth is just under $29,000: of which $20k is liquid. My number at which I would FIRE, currently, is $750k ($30k annual spend). So I’m only at 3% FIRE. My beginning goal was to FIRE at 40, but without some major luck & income boosting between now and then, my time frame is likely pushed out to 43-44 – which I’m still very happy with!
What do your financial goals look like? If you’re after financial independence, do you also want to retire early or no? Looking forward to hearing from you!