To pay off the mortgage or not, the essential question all early retirees (except renters) must ask themselves. The folks that want to pay off their mortgage argue that no early retiree ever regretted NOT having a mortgage. I love the idea of not having a mortgage. And who wants to pay the extra … [Read More...] about The Best Way to Account for the Mortgage in Retirement
One big family’s crazy journey to and through financial independence
If you have a large family like us and are looking for inspiration, join us on our journey.
The golden rule in the financial independence/retire early (FIRE) space is to amass investable assets worth 25 times your annual expenses, that is, you live off 4% of your investments, adjusted for inflation. So, during the first year of retirement, you withdraw 4%, during the second year, 3% plus … [Read More...] about Living Life 4% at a Time with Financial Independence
Let's be honest… I spend a lot of money. And I don't even mean "my family". I mean I spend a lot of money. Mr. FIF spends very little. He's picked up our grocery shopping task (to lower the bill because I spend too much) and he does the home improvement spending as well. Not … [Read More...] about No Spend September Has Us Selling All The Things
I discovered Financial Independence around 2016, but didn’t really think seriously about it then because I didn’t think it was within reach for a family of six. We’ve rarely lived above our means, but life’s circumstances sometimes required it, or so I thought.
Mr. FIF just retired after 24 years serving in the Air Force. This gives us an incredible leg up on our FI journey because he has a military pension coming in every month. I’d like to say we could live on it, but we can’t.
I met Mr. FIF while also serving in the AF, but separated to have the babies… and babies we’ve had… 4 of them. I’ve been a stay-at-home wife and dedicated military spouse at times. I’ve worked at times. I’ve left jobs when every military assignment came to a close. We’ve always said that after he retired, it would be my turn to really focus on my career. But that ship has sailed. I don’t want to focus on a career anymore. I did when I was younger and I had some regret and disappointment when family and military came before that. But now I’m jealous he gets to be retired. I’m jealous that my parents get to be retired. I want to be retired!!!
So, now I’m serious. We aim to be financially independent in 3-5 years. I wanted to share my goals, experiences, and experiments with anyone out there and show that a big family doesn’t have to keep you from FIRE or financial independence/retire early.