David Bartels

In my last post , I gave some introductory thoughts on the concept of financial independence. I touched on what I would consider to be traditional thinking about when someone should retire. To close out the post, I asked why more people aren't retiring early. I claimed the short answer is that it's not easy. Other short answers that come to mind are that we can't afford it or that it's not the way we do things- we should remain a "productive member of society". Before I go any further, I want to give credit to the places that have been helpful as I've been learning about personal finance & financial independence. They've been instrumental & inspirational as I've developed some new ways of looking at the world: The Root of Good blog. I'm not sure how I stumbled upon this one but his post $150,000 Income, $150 Income Tax  was especially eye-opening to me. His monthly financial updates have also given insight into how a family with ki...

The idea of financial independence is something I've been thinking about a lot lately. I recall coming across the term several years ago, before I paid too much attention to personal finance. I figured it sounded nice but was something reserved for the very wealthy. Either you inherited a lot of money or easily made six figures. A person in that situation, I thought, would then be able to save so much money in a short period of time that they would not longer need a job, therefore becoming financially independent. Since I had not inherited a large sum of money and didn't see myself making over 100k anytime soon, I wrote it off as unattainable for someone like me. Now, while an inheritance & large salary can certainly help in the path to financial independence, what I have come to learn is that they are not requirements, In fact, I don't even think either of those would be considered the number one contributor to achieving such a goal. At the end of the day I think it...