Hi, this is The Beacon. I live in North Carolina with my wife and 2 young children. The cost of living here is relatively low. To give you an idea, we bought our home in a decent community in 2013 for 250 k. We love it for its simplicity, size and efficiency. This blog talks about our tips to reach financial freedom. Some are common sense and some are not. Thanks for dropping by.
Here is a little bit about my background. I have a degree in Computer Science and joined the workforce in 2005 as a software engineer. At the end of 2016, our net worth reached a major milestone for the first time. I quit my mega corp job of 10 years, took a 5 month sabbatical and then joined a small company in the middle of 2017.
The culture of my new team turned out to be better than my former team at the mega corp. However, things at a work place can change quickly. So I was wondering how much longer I can stay here considering my pain threshold is pretty low now, a side effect from financial freedom. By the middle of 2018, we reached 27 times of our living expenses, excluding the house equity and the 529 accounts. 35 times is our target, 40 times preferred and 50 times Fat-FIRE. Our current allocation is 80% stocks, 10% bonds and 10% cash.
My goal is to quit my Corporate job, focus on things I like such as trading, selling and blogging. More importantly, I would like to have a total control of my time. Time has no return policy.
I actively trade the financial markets and have been through a major bear market, a bull market and survived. The main reason I survived is because I like trading and have solid risk management. Most people fold in 6 months, who step into the markets, hoping to get rich quickly. For me, it is a side business.
I am also active on Ebay. Selling things is actually addictive and interesting once you have developed the acumen to source profitable products.
My wife has always stayed home. We are very specialized. My job is to bring money home and manage it. Her job is to take care of me and the kids. I am very lucky to have her. Neither of us has any vices such as drinking, smoking, cars, gadgets, clothes, and handbags etc. However, we do not skimp on food, travel and kids’ education.
Both of my kids have a 529 account since they were born. They should have enough money to fund their college education if they go to a public school. My parents paid most of my college expenses. I will do so for my kids.
The usual two pronged approach to reach Financial Freedom is frugality and income generation/investing. On this blog, I would like to document some tips and methods that have helped us. Some are easy to follow and replicate. Some are not. All roads lead to Rome though as long as we plan for it and execute it persistently.