Comments on: The 6 Stages of Financial Freedom – Where you at!? https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/ Money | Minimalism | Mohawks Sun, 29 May 2022 20:44:04 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Joel https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328472 Tue, 08 Jun 2021 22:31:45 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328472 In reply to J.

Cheers to Big ERN! I was lucky enough to meet him once and hear him speak at FinCon. He changed the way I think about SWRs too, particularly for early retirees. Congrats on Lean FI next year!!

]]> By: J https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328470 Tue, 08 Jun 2021 20:17:08 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328470 I would say I’m on Stage 3 knocking on the door of Stage 4. Hopefully, in one more year I’ll be officially at Lean FI using the 4% Rule of Thumb. That being said, I think I’m ultimately more comfortable looking at the 3.25% rate that Big ERN suggests when it comes to deciding when I might be comfortable calling myself full FI. I’m also debating upping the desired annual spend part of the calculation. Here’s to hoping compounding over time is on my side!

]]> By: Joel https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328465 Tue, 08 Jun 2021 15:20:03 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328465 In reply to Dividend Power.

If your mortgage isn’t impacting your freedom, then I don’t really see a difference. Congrats on FI!!!

]]> By: Dividend Power https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328460 Tue, 08 Jun 2021 12:43:36 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328460 I think I am at No. 4 since we still have a mortgage.

]]> By: Joel https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328454 Tue, 08 Jun 2021 01:44:42 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328454 In reply to David @ Filled With Money.

I purposely left money milestones out because everyone has different dollar figures. I also like to think about the freedoms we are achieving when we progress on the journey. Having a $2M net worth might seem like a killer milestone to some people, but if it comes with zero freedom and flexibility, it’s actually not really what we’re shooting for.

I also like the money milestones (for celebrating new achievements!) but maybe that’ll be a new post idea :)

]]> By: David @ Filled With Money https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328453 Mon, 07 Jun 2021 23:26:35 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328453 This is a great post! I like the acknowledgement of the different milestone in the huge journey known as financial independence.

I think it would have been better if there was a general numbers guideline between each of the milestones as I’ve been wondering if I’m either too impatient in the financial independence journey or not. Good post regardless.

Independence is where happiness lies.

]]> By: Joel https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328448 Mon, 07 Jun 2021 17:19:28 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328448 In reply to Ade.

Great idea. I’ve seen several versions out there… One of my favs is this one by Mel at Partners in FIRE… https://partnersinfire.com/finance/type-of-fire/ I just like how the questions aren’t specifically revolving around money.

I just took it again. Surprise surprise, I got Coast FIRE as my answer. :)

]]> By: Joel https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328447 Mon, 07 Jun 2021 17:15:10 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328447 In reply to Chadnudj.

You’ve earned the freedom to choose Happiness > Money. Congrats and good luck with your wife leaving her job!

]]> By: Joel https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328446 Mon, 07 Jun 2021 17:13:22 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328446 In reply to SL.

Love it! It’s nice moving money into savings before it comes to your regular accounts. Easy way to avoid lifestyle creep!

]]> By: Ade https://eliteedgemoney.com/the-6-stages-of-financial-freedom-where-you-at/#comment-328444 Mon, 07 Jun 2021 16:44:55 +0000 https://staging.eliteedgemoney.com/?p=63941#comment-328444 This would be really great with a quiz

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