Well first of all I need to determine my start point.
- Where am I on this road to FI?
- What savings do I currently have?
- What passive income streams do I already have?
- What is my current monthly saving %?
For answers to the above, see ‘Start Position’ pages.
The beginning of my journey to FI.
I have been saving and keeping spending down for some years and have been targeting things like paying off my mortgage and credit cards and squirreling some money away into savings accounts.
Having read about FI, especially blogs from MMM and theFireStarter and others I have realised I need to focus on getting a passive income stream and allowing me to reduce this pressure I have from work and break the stressful link that is the working treadmill.
Having been made redundant and getting on in age, I have realised that I could end up on the scrapheap soon, the stress of my job role is likely to push me over the edge and I need a way of getting out of this grind and have some freedom and flexibility.
So here begins my journey.