2012: Retire at 50
Happy New Year everyone! It’s the first day of a brand new year and I hope to get things started right. I’ve always wanted to create a personal journal about my journey towards financial independence. I keep thinking whether to maintain a small notebook where I can write everyting or create a new blog website specific to this topic. However, I decided to make it simple and just do it here on my personal site.
My goal is to be financially independent by the age of 50. I am 33 and will turn 34 this year, so I only have 16 years to achieve my target. I know it seems to be a steep mountain to climb, but Bo Jackson once said, “Set your goals high, and don’t stop till you get there.”
Now, each goals has got to have some plans, right? So how do I plan on achieving it? Mainly three things: saving, business and investing. Seems very broad right? We’ll go deeper into each one of them as we go along, but the main things are:
- saving money as much as I can without sacrificing too much of the things that I value today (e.g. family, travel, photography)
- eliminate debt
- start small businesses to generate other sources of income
- business ownership (otherwise known as stocks investing)
I will be sharing here the steps that I take along the way and I am really hoping that this initiative will become interactive one day so we all can share the successes and the mistakes, how to further improve and how to avoid the mistakes.
