“What’s your FI number? What’s your FI date?”
People often talk about financial independence like it’s a fixed, static point. When your portfolio reaches $X value, or your monthly passive income is $Y per month, you’re FI.
“When did you reach FI?,” people will ask, as though it’s a one-way door with a distinct date, comparable to graduating from high school or college.
Today’s podcast guest, J.D. Roth, offers a fresh perspective: FI isn’t a fixed point. It’s a continuum, a spectrum.
He says there are seven stages along the road to financial independence, which include:
#1: Dependence
#2: Solvency
#3: Stability
#4: Agency
#5: Security
#6: Independence
#7: Abundance
In today’s interview, we elaborate on these seven stages. We also discuss seven rules for investing, how to calculate a lifetime wealth ratio, how to manage your career like it’s an asset, and much more.
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9 мар 2021
