Who are we?
Hello and welcome. My partner and I are currently students in our mid-twenties renting in London whilst we finish our university degrees. I was born and raised here whilst my partner, whom I met several years ago at the start of my time at university, calls Hampshire her home.
We both enjoy spending time in the great outdoors, whether that be walking, cycling, camping or tending to our small array of plants on the patio. We also both have a similar natural approach towards money – being frugal. It’s amazing what a 6 year degree can teach when it comes to financial management!
Now seems to be the right time to start making a bit of a plan about what we want to do in life and where we want to be in the decades to come – with a particular emphasis on financial independence. Through this blog, we can share our thoughts and ideas and have an interesting (hopefully!) record to look back on in the future.
When you break down life today into its core components, it reads, to me, like this: school, university, work, work a bit more, retire at 68 (assuming the state pension age remains the same – hah!), the end. As someone who is just on the cusp of entering the world of employment for the first time in earnest, selling the next 40+ years of my life to my boss before I can retire doesn’t immediately strike me as the direction that I want to take.
So that led me to an interesting question: what does it cost to buy your life? (Apparently, I’m obliged to credit my partner with the coining of that catchy phrase…)
The past few weeks have been very eye-opening – I stumbled across the notion of so-called “financial independence” i.e. the ability to sustain yourself for the rest of your life off the interest from financial investments. Having a choice, then, as to whether I want to work rather than having to need to work is an idea that chimes well with my personality. Obviously, this requires a large pot of money, and an even larger envelope on the back of which to do the calculations, so I went back to Google and furthered my investigations.
There’s a huge amount of information out there on the topic of achieving financial independence, including many blogs with a similar mindset to this one. My research inspired me to create this blog primarily as a diary for our future selves, but it also might be of interest to other people out there who are themselves curious as to what it entails – I suppose that is why you are reading this in the first place! It also creates the wonderful opportunity to engage with other like-minded individuals to share ideas and point out any unforeseen dangers.
The real advantage for us is that we are starting young. We haven’t yet had a chance to make poor financial decisions, build up any significant debt (student loans excepted…) or look back and see years of potential compound interest slip away. With time on our side, let’s see what we can make of this.
I hesitate to put a concrete timeline down as to when exactly we will reach financial independence, but the idea is “as early as possible, within reason”. Before 40 looks very improbable; before 50 would be both achievable and perfectly acceptable. As for “within reason”: we have no intention of living like paupers and depriving ourselves – that’s not the point of a project like this. Equally, however, we have the right mindset between us to maximise our savings and minimise consumerist spending.
Furthermore, it’s not just about hitting financial independence and putting our feet up for the rest of our lives. It’s more about achieving a financial position where we have a choice of whether we want to work full-time, part-time, try out a new venture – anything that takes our fancy.
Anyway, thanks for stopping by, and if you’ve made it this far it might be poignant at this moment to take the first step and have a look at our starting position.
Feel free to contact us at any time either by using the comments facility at the bottom of each blog post, or using the “Contact” form found in the menu over on the left hand side.