I first became interested in personal finance in my mid-twenties when my romantic partner at the time taught me an early lesson in debt, work, and the wisdom of trusting myself (see https://creatingmarina.com/my-backstory-how-i-got-in-and-out-of-100000-in-debt-and-started-pursuing-fire/ the article on how I got out of 100k in debt). I learned how to pay off life-changing amounts of debt, save, live on very little, and ultimately invest. A few years ago, I came across something called the FIRE movement, which gave shape to what I was already doing organically through painful learned experiences. Below is what I learned about FI or Financial Independence.

What does it mean to be financially independent?

When I first learned from Mr. Money Mustache that there is a formula to become FI, my new life was born. Basically, you are financially independent when your passive income can pay for your expenses. Figure out what your yearly expenses are by tracking what you spend on daily, weekly, monthly basis and then times that yearly amount by 25. Once you reach that number, you’re officially Independently Wealthy. This formula has been tested and proven by research from Trinity Studies. 

25 X Yearly Expenses = FI

Money is very simple. We make it complicated by buying more than we can afford, not saving parts of our paychecks, and fearing investing. If we stick to a few basic steps, we can become work optional in less than 15 years. Here are the steps that have worked for me:

STEP 1: Find a job you can stand that pays livable wage. 

Pick a job, any job that you can stand. It doesn’t have to be your dream job (although, it can be), it just must be something you can do relatively well and that you somewhat enjoy. We get bogged down by trying to find the perfect job (I was one of these people) and miss the forest for the trees. The forest being to become Financially Independent so we can become work/career optional and then create our dream jobs without the burden of having to make a living. It doesn’t even have to be the best paying job, just enough to keep up with your expenses and then save 50% or more. 

STEP 2: If you’re starting from Zero, work for about 15 years while saving half or more of your income. The calculations below are borrowed from Mr. Money Mustache. As you can see, if you’re starting from 0 savings, you can become work optional in 15 years or less, depending on your savings rate. If you’re in your early twenties, you can be done by 35 or 40, not the traditional 65. If you already have something saved, you’re even closer. 

STEP 4: Invest your savings in low-fee index funds between total stock market and bond market or your preferred cash equivalent. Allocate your investments based on your risk-tolerance and your age. The younger and riskier you are, the more you should have in your stock portfolio. The older and more conservative you are, the more you can hold in your safer bond/cash portfolio. The rule of thumb is that you should be between 60 to 80 percent stocks and 40 to 20 percent bonds/cash. Any less than that and you won’t be able to take full advantage of the market. My preferred allocations have been between 75-80 stocks (Domestic & International) and the rest in Bonds/Treasuries/Money Market.

STEP 5:  Become work optional. Once you reach your FI number, you can decide whether you want to keep working or not and on what. This is where you can pursue any dream job you want, regardless of what it can or cannot pay you. Or you can continue working at a job you already have.

PERSONAL FINANCE & FINANCIAL WELL-BEING – SERVICES

I’m now providing one-to-one support to help you with your personal finance needs. I lead Financial Independence meet-ups for a local ChooseFI group where I’ve given presentations on saving, investing, optimizing your life, and other FI topics. Whether you’re trying to get out of debt, start saving, learn how to invest, or work toward financial independence, I’m here to help you make sense of your money and feel more confident managing it.

Together, we’ll explore the practical side of personal finance as well as the psychology behind it—your money habits, beliefs, mindset, and relationship with wealth. The goals isn’t just to improve your finances, but to create more freedom, security, and choice in your life.

Services

• Debt Management: Create a plan to pay off debt and regain financial control.
• Saving & Budgeting: Building sustainable habits and establishing financial security.
• Investing: Understanding the basics, investment strategies, and growing long-term wealth.
• Financial Independence: Planning for greater freedom, flexibility, and control over your time.
• Psychology of Money: Exploring money beliefs, emotional patterns, financial behaviors, and mindset.
• Financial Life Design: Aligning your money with your personal values, priorities, and vision for the future.

Feel free to contact me at creatingmarina@gmail.com