How did your journey towards financial independence begin?
In 2019, I realized that working a traditional 10+ hour/day corporate job until age 65 is not for me. During those 8am-6pm or often, 7am – 7pm days, there are too many other interesting things for me to spend time on, such as learning more about humanity, cultures, and to create and help others. As a result, I became serious about reaching FIRE (Financial Independence Retire Early) in five years.
Going back in time…
I finished graduate school in late twenties with $75,000 in student debt, completely bought into the consumer lifestyle in a HCOL (high cost of living) area.
Three years after graduation, I wiped out student debt and achieved a net worth or zero. Hooray!
I often feel behind on my personal finance journey. But through learning and trial and error, I hunkered down, made many changes in life, and started to see results of managing your personal finance with intention.
Now late thirties, I am at about 50% of lean FIRE (lean vs. fat FIRE). This blog is to document and share this experience with you, and to learn from one another.
How did you get to your current net worth? What is your plan to achieve FIRE?
Where does your net worth come from?
I work a corporate job earning a W-2 salary. It is six figures which I know is a privilege. That said, San Francisco’s high cost of living makes “low income” level to be ~$95,000 a year so my income is lower middle class here.
Why is the blog called PM on FIRE?
I work in product management (PM), and am one year into a five-year plan to achieve FIRE.
To make this creatively interesting (for me), every post will have a one-word title. I expect this to become more challenging over time but it’s a good way to expand vocabulary.
By the way, a new post will be published on Tuesdays.
How is your content different from others?
Not sure about different, but growing up in multi-lingual environments in multiple continents, I am forever intrigued by people, cultures, and the similarities we have rather than differences.
Living in America for all of my adult life (traveling abroad at least once per year), I have gone through the frivolous spending years, bought into complete consumerism (never enough shoes and bags), then started indulging on minimalism and FIRE. I hope that my experiences and takeaways are relatable to you and will be of help. From one human being to another.
What is the message for this blog?
To apply Jane Goodall’s comment on wildlife conservation to personal finance: You can and you will. This blog is more about the mindset and framework of pursuing FI and not about my personal numbers.
Even though I had a late start compared to others like MMM and Paula Pant who retired before the age I even started the journey; even though I made many and continue to make personal finance mistakes that make me cringe…I am determined to own my own time and energy in less than four years, rather than three more decades.
I encourage everyone to take action towards achieving financial independence. Then the choice is yours to work in a full-time job or not. If you feel that you are a late starter, you can still do it. If investing scares you, you can still start.
“Liberty and love
These two I must have.
For my love I’ll sacrifice
My life.
For liberty I’ll sacrifice
My love.”
― Sándor Petőfi