Written by: Vs
Recently, I’ve been captivated at this concept of FI, which could mean a lot of different things for a lot of different people. But, the basic idea is that you could be financially free without having to work if you didn’t want to while still living comfortably. I learned that there is currently a movement going on all around the world called FIRE (Financial Independence, Retire Early) and I recently decided to join this movement.
Growing up, I was never taught about finances – neither in school, nor at home. I was taught to study hard, go to a great college, get a reputable job, make a lucrative salary, work (and slave) until I’m 65, and retire thereafter. And this is basically what I attempted to do. I took AP classes in high school (most of which I wasn’t qualified to take) and stressed myself out for the latter part of my high school years. I went on to college and bounced around from major to major trying to figure out what would land me a decent job. I eventually (somehow) made it to pharmacy school only to become $200K in debt once I graduated. And I finally landed a management position right out of pharmacy school making over $120K a year.
Some may say that my life went according to plan. But, did it? Things may look great from the outside. But, is it?
I really had to think, was this really the life that I ultimately desired? Did I really want to work for the next 30+ years in pharmacy while neglecting other passions and callings I felt I had?
Don’t get me wrong. I consider it a privilege and honor that I can serve my community as a pharmacist. I am humbled by and do not deny or neglect God’s purposes for me in pharmacy. And I will do my best to fulfill His purposes.
I realized, though, that I wanted to be different. And I know God desires this as well. I want to live an extraordinary life where I wouldn’t be stuck to a 9-5 and could do WHAT I wanted to do WHEN I wanted to do it. Most of all, I want to serve God and people in other areas of life outside of pharmacy.
And I realized that if God wanted to use me in greater capacities, I needed to be debt free first and eventually achieve FI!
One way my wife, Rudia, and I decided to do this is through real estate. And no, we do not want to be one of those famous real estate gurus who drive nice cars, live in big mansions, and brag about their successes on Facebook. We really don’t care about that stuff.
(Actually, what I’m realizing is that most successful people in real estate really aren’t like this. They’re actually just seemingly normal looking people who live extraordinarily by prioritizing what they want to do when they want to do it.)
We first plan on house-hacking, a term coined by Brandon Turner on Biggerpockets.com, where we will use our primary residence to rent out extra rooms or units to earn extra income in order to cut living costs. This would enable us to turn a liability into an asset. Eventually, we want to slowly (but surely) buy more multi-unit properties and increase our rental portfolio. This would allow us to earn passive income ultimately making money work for US, instead us working for money.
In ten years, we want to have 30+ doors under our belts and we want to be completely debt free as well. The end goal is to be able to live off our passive income from our rental properties.
We know this won’t be easy. Rudia and I have begun some serious planning and budgeting for our future. Surely, we will experience some bumps. We will, for example, eventually have kids and expenses may go up significantly. Other life issues may hit throwing us off course at times. However, we will persevere and come out triumphant! And we will share our journey with you every step of the way!
I hope that our journey towards FI provides value and encouragement to those who decide to (or have already decided to) take part in this as well.
Isn't Gee So Lovely 