Blog Posts
Sometimes in life things tend to connect and it really is amazing to see the connection of items as you go through life. I know there are times when I am going through something or thinking about something and the message that week at church is connected directly.
Goals, plans and new years resolutions. Those are the things that people do each year in anticipation for a brand new year. They’re going to make changes for the better. They’re going to start working out or losing weight. They’re going to buy a new home or pay a crazy amount of the mortgage off this year. Most new year’s resolutions are short term and only really focus on one year. It makes sense to focus on a small timeframe to make things attainable. However, I have never been a big new year’s resolution fan, as most people don’t follow through with their resolutions.
What is FI? This is the term that my wife and I have been pursuing since day one as a married couple. We have been pursuing the point in our life where we have enough saved that our money is making more money than we are making at our jobs. This is the point at which you have enough money. You no longer need to earn anymore money. To some people this may sound like retirement. This is so much more than retirement. The old definition of retirement is the idea that you have to leave your job at a certain time in your life. That’s not FI. FI is not the idea of slaving away at a job for 30 years and then retiring.
Sometimes it's amazing to think that we have owned a home for 3 years. Not only is it amazing to think that we didn't have any kids just 3 years ago. It is amazing at how things can change. Since the purchase of our home, we have had two kids. It has been an amazing three years, so let's dig into the numbers!
Two weeks ago as I was working on some articles for the website, I stumbled on an interesting article about social security. The article was titled, "Millennials and Retirement: How Bad is It?" by Alicia H. Munnell on Politico's website. The article dug into the numbers of savings for retirement. The data that they shared was from a study conducted by the U.S Board of Governors of the Federal Reserve System, titled, "Survey of Consumer Finances, 1983-2016." In the article, they shared the following graph.
