Mr. Dollarman – Financial Backstory (Part 1)

The Lessons I Learned From My Childhood If one wants to define the future, they must study the past.  Confucious I find this quote by Confucius to be truly compelling, and yet so simple. For Mrs. Dollarman and I to define our future, we must first understand how our present came to be. Where did we draw our personal finance behaviors from? What financial mistakes did we make in the past? How can we devise a plan going forward to avoid those same mistakes again in the future? In a series of blog posts I’ll be diving into my financial backstory pre-Mrs. Dollarman. I’ll take you guys on a journey throughout my life highlighting the financial lessons I’ve learned along the way; both the good and the bad. Childhood My parents immigrated to the United States in the mid-eighties. They felt pressured to leave their country

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What is Financial Independence, Retiring Early?

What better topic to choose from as our inaugural post than defining, and diving into what it means to pursue Financial Independence, and Retiring Early (FIRE). Why does FIRE have us fired up as a couple? Well any thing that is important in the Military has an acronym right? Not a good answer, so let’s proceed. Before we get into the nitty gritty details, let’s start off with the basics first. So what is FIRE? FIRE Financial Independence is the self-realization that you have the freedom to choose what you want out of life. It stems from the understanding that you’re only bound by the financial shackles you create. To become financially independent you must first understand what your financial shackles are, and quantify them into cold hard numbers. You become financially independent when your assets (pension/investments/business income) equals twenty-five times (25X) your yearly expense. Often times society

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