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Do you have the same concerns and desires?
Old 12-03-2013, 10:02 PM   #1
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Do you have the same concerns and desires?

I'm working through a plan for my financial freedom and trying to make it as error free as possible. Please help me by answering the following:When it comes to financial independence if you could wave a magic wand and have any result today, what would that be?
Why is reaching that result important to you? What will it change?
What are your top 3 questions about reaching that result?
What roadblocks do you need to overcome to reach that result?

Any help on these questions is greatly appreciated.

Thanks,

Josh
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Old 12-03-2013, 10:10 PM   #2
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Originally Posted by jtut21 View Post
I'm working through a plan for my financial freedom and trying to make it as error free as possible.
Before we pull out the magic wands, how about providing some information on your current situation. What are your concerns and desires?
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Old 12-03-2013, 10:14 PM   #3
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Working a 9 to 5 and eagerly looking to create financial independence. I have kids at home that I want to enjoy before they leave. It is my opinion that work should be an extension of who we are and a means to freedom. Without a plan it's difficult to make course corrections or gauge if I am on track.
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Old 12-04-2013, 07:47 AM   #4
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For me, reaching FI means being able to spend more time with the people I love, doing the things I love, while still feeling economically secure. Specifically, I'd be free choose where I live and what (if anything) I work on, without regard to the economic prospects (availability of jobs, salary).

My one big question is how my desires and interests might change between now and when I become FI. We had a thread about that recently.

I don't really see any "roadblocks," but there are challenges (staying healthy, continuing my career trajectory, avoiding lifestyle inflation) and other concerns (future policy changes, market behavior). A spreadsheet that uses a bunch of assumptions tells me if I'm on track.

I agree that our work shouldn't completely define our identities. It's a means to an end to some degree, but hopefully it's also somewhat fulfilling with good co-workers, interesting experiences, and feelings of doing some good in the world.

Tim
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Old 12-04-2013, 01:40 PM   #5
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When it comes to financial independence if you could wave a magic wand and have any result today, what would that be?
Not sure if you were looking for concrete numbers, but for me, it would be $10 million in after-tax net worth. That would give me the ability to quit my job, do almost anything I care to for the rest of my life, and never have to work for another person ever again. Basically, complete freedom.

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Why is reaching that result important to you? What will it change?
I've grown to dislike my career (IT) and also being on other peoples' schedules. I dislike everything about work...commute, sitting in a cube, staring at a computer all day, pecking away at a keyboard all day, and doing what other people tell me to do. I'm a very independent person, and have grown to value my freedom more than anything else, but I need enough funds to make the break away from the working world so I can have, and enjoy, that freedom.

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Originally Posted by jtut21 View Post
What are your top 3 questions about reaching that result?
1. Will it ever happen?
2. If so, when will it happen?
3. If not, why won't it happen?

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Originally Posted by jtut21 View Post
What roadblocks do you need to overcome to reach that result?
My own laziness. Over the years, I have become so disenfranchised with the working world, I've gotten very lethargic about it. That has translated into me being very lazy when it comes to anything regarding "work".

As bad as it sounds, I want to take any financial windfall that comes my way in the next few months (which won't be ANYWHERE close to the goal I mentioned above, LOL), escape the working world, and never work for anybody else ever again. I want the rest of my life to be "me time".
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Old 12-08-2013, 02:13 PM   #6
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I'm working through a plan for my financial freedom and trying to make it as error free as possible. Please help me by answering the following
I can't see that anybody's answers to these highly-individualized questions could be the slightest bit helpful to you. You need to come up with your own answers that fit your own unique circumstances.
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Old 12-08-2013, 02:48 PM   #7
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I can't see that anybody's answers to these highly-individualized questions could be the slightest bit helpful to you. You need to come up with your own answers that fit your own unique circumstances.
+1. What you need to do before throwing out questions like these is to introduce yourself here. Nobody is going to give you a hard time, but you're coming out of left field at us with questions that don't have reference points.
Quote:
When it comes to financial independence if you could wave a magic wand and have any result today, what would that be?
What would it be for you?
Quote:
Why is reaching that result important to you? What will it change?
I can't quite see the reason for these questions. Whatever you chose in the first question should be self-explanatory (FOR YOU).
Quote:
What are your top 3 questions about reaching that result?
What roadblocks do you need to overcome to reach that result?
Again, these will always be very individual answers, not applicable to most others.
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Old 12-08-2013, 03:44 PM   #8
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Yes, you need to introduce yourself. Your questions sound like they are interview questions for a business class paper, I have to say, or for preparing sales materials--maybe that's the plan for your financial freedom that you are working on.

At the very least you should answer them in this thread for yourself.
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