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QMAN · 10-27-2009, 12:22 PM

Just joined. I am 53 years old, married with two kids in college. Looking to be financially independent by time my kids are out of school (2012). Not clear yet as to whether I retire when I become financially independent, or semi-retire and do something that interests me in line with my personal interests, with money being a secondary consideration. While not an expert, in last ten years I have adopted many of the the principals outlined in the book "The millionaire next door", which I would strongly recommend as a frame of reference in trying to develop a personal financial plan for retirement. Look forward to trying to give good advise in forums. Also hope to make a few friends out there, that I can bounce ideas off, and look to for advise from time to time.

**Bestwifeever** · 10-27-2009, 12:32 PM

Welcome to the boards. I have found this a good place to "make a few friends, bounce ideas off, and look for advice." I learn things all the time that I didn't even know I wanted to learn

Looks like you will have a pleasant predicament in 2012, deciding what to do once you're financially independent. Yay!

QMAN · 10-27-2009, 12:35 PM

Thank you for saying hello. As a new member, might I bother you with what might seem a stupid question -- what does FIRE and LBYM mean ? Thanks

**Bestwifeever** · 10-27-2009, 12:44 PM

Generally speaking, they mean:

LBYM: live below your means
FIRE: financially independent, retire early

Go here for more info--

* Acronyms and Slang Frequently Used on the Forum *