Financial Independence Archives - Recovering Women Wealth

A Review of Playing with FIRE

July 22, 2019 By Deanna 4 Comments

Maybe you’ve heard there is a documentary out about the FIRE (Financial Independence Retire Early) movement. It’s called Playing with FIRE. I’ve seen it a couple of times now and so I thought I’d write a review.

I was a backer of the film which meant I was emailed a link to watch an early release. My friend, Shari & I first watched it in the comfort of my living room. The second time was with my local ChooseFI northeast Ohio group in a movie theatre in a suburb of Cleveland. At the end of this post, I’ll explain how you might be able to catch a showing.

Pay Attention to The Pivotal Moment

July 15, 2019 By Deanna 6 Comments

In recovery, pivotal events are often referred to as moments of clarity. These are the moments in your life when you recognize you are on a dead-end road and change courses. Additionally, these are the moments when everything is crystal clear and you distinctly know why you are here.

The problem is we get busy in life and forget these moments. It’s crucial to take the time to reflect. And when you do, I have a strong suspicion you’ll discover more of your purpose.

As I’m reflecting on 9 years of sobriety, 1 year of debt freedom, and 1 year closer to financial independence, I’m thinking about my pivotal moments. Moreover, I’m thinking about what they mean in regards to where I’m going next in life and why financial independence is so important to me.

What if Financial Independence is Not for You?

July 8, 2019 By Deanna 11 Comments

The concept of financial independence may be daunting for some people. The more I write about it, the more I recognize that. Additionally, while I’d love to believe anyone can achieve it if they want, that may not be realistic. Actually, what I think is most important is for anyone to be able to achieve some level of financial stability.

Firstly, let’s define the generally accepted definition of financial independence. Typically, it is known as having 25 times your annual spending saved in investment accounts so that you can live off ~4% without depleting it. The idea for this came from the Trinity Study.

There is a lot of controversy surrounding what are actual safe withdrawal rates.

That being said, let’s just define financial independence as having enough money saved in investments so that you don’t need to continue to work to generate income.

I Got in the Car With Two Guys I Met on the Internet & Went to CampFI

June 3, 2019 By Deanna 10 Comments

Yep, that title is a true statement; however, it was not as shady as it sounds. I’m in a ChooseFI local group for northeast Ohio which is where I met said guys. I’ve now known them for over a year so I would say that’s a good amount of time to learn someone’s character.

Additionally, my good friend, Shari, also hopped in the car with us and team O-FI-O went on a road trip to the state for lovers. The purpose was to enjoy some quality time with other FI (Financial Independence) minded folks at CampFI Mid-Atlantic. For me, this was round two of CampFI mid-Atlantic.

I was so smitten with the community after my first camp, that this was my third CampFI event. Furthermore, you might not be reading my blog had I not taken this leap. My friend, Kevin Clack, helped me set up my blog last year at my very first CampFI.