I am Mr Zombie (my real name obviously), in my early thirties and living in the West Country in the UK. I went to University, got a degree, got myself a job and began casting excel spells in an office cubicle for a living.
I was bumbling towards retirement with no real focus, no real goal. Just one of the Horde you could say.
Like many, I was contributing towards a company pension scheme, maxing out the company contributions as it was free money but doing no further thinking about savings or retirement. At least I was saving towards my retirement I suppose. In truth I thought I was absolutely killing it by putting 20% of my gross salary (including the employers contribution) into the Defined Contribution company pension scheme. This was more than any of my friends or family, so I had a bit of a swagger to my chat if saving for retirement ever came up.
Then I read about these lunatics, these mavericks, who were saving in excess of 50% of their income! Christ alive, they must be on £100k a year to do this. Cue some more reading, it would appear not, and it would seem that this would be possible for me! Cue EVEN more reading;
These opened my peepers to the possibility of achieving something fanciful called Financial Independence or Financial Freedom. The concept of saving hard and getting a large enough financial nugget that could generate enough passive income…to live off. And all this before I’m ancient and regularly soiling myself (at least more frequently). Time for a mind shift!
Saving hard into your pension is good one hand, on the other it’s money that’s tied up until you are 55+ and subject to god knows which crazy regulations by then. Time for diversification and a new plan! If I want Financial Independence it seems it’s going to take some hard work and a good few years of focus.
So I started this blog to sort a few things out and try and come up with some kind of plan. Writing out my plans on this blog helps me to try and get some order to my thoughts and stay motivated.
Spend less and save more is the universal personal finance mantra, so that’s been the starting point and I have got my savings rate to 50%+. The goal for 2015 was 60%, and I nearly hit that. Same again for 2016, please.
It’s so easy to get bogged down in the complexity of saving, investing, asset allocation’s, safe withdrawal rates, re-balancing and fuck knows what else and just give up. So having this blog has helped, so far, to keep me motivated. All the comments have been awesome! So thanks to anyone who has got involved.
FI for me isn’t retiring at 50
45 44, but having the option to do what I want. At the moment, I don’t mind work, some days I even enjoy it. But that might not last forever and I want options. If I can get passive income to the point where all my basic expenditure is covered, that’s one hell of a start. So for now, I will carry on, pretending I am one of the Horde, but secretly saving away. Until the time comes when I can unleash the Cure and join the free 🙂
So here it is, my blog of my journey towards financial independence. A personal finance blog with a penchant for heavy metal, zombies and cycling, just the way it should be.
I’m in for the long haul.
And remember – Spend Less, Save More and Escape the Horde
(I’m not a qualified Financial Adviser – DYOR)