The secret to Financial Independence (“How I retired early”)

Hey, Tech Lead here and welcome back to my show. It is coffee time. Instant coffee today. Very good. I wanted to tell you something. I wanted to share a little bit of news with you today. I am financially Independent. That’s right. I’m retired. I can essentially sustain myself Indefinitely within this sort of living environment. I have everything that I need here I can live like this for as long as I want. I have water. I have coffee here. I have shelter and I have cut down my living expenses so much that essentially this is my lifestyle now. I just live here. I don’t do anything. I don’t partake in any activities. I don’t travel. I’ve gotten rid of my family. I’ve gotten rid of my Responsibilities of my family. I haven’t gotten rid of my family They’re still there, but I’m just not taking responsibility for them anymore. And with this sort of revolutionary mindset I have freed myself from the rat race. I am free from the 9 – 5. I don’t have to work, if I don’t want to. I can just be here and relax chill. My time is my own. I am my own boss. and as long as I can free my mind of any Materialism and stay a minimalist. Then this is all I will ever need and I can just live like this Indefinitely. I am financially independent. I am retired you could say. I’ve made it This video, by the way, is sponsored by myself. That’s right. As a financially independent person, I am self-supporting check out my video, Tech Lead season 1 HD complete. 1995 tons of cool episodes tons of cool features lots of good content in there and I can guarantee you that it will save you Much more than 1995 worth of your money. Great value. You’re gonna make so much out of it You’re gonna be able to live a financially independent lifestyle just like myself I’m telling you this lifestyle that I’ve got right here right now That’s right for 1995 you too can be successful just like me and you can have the exact same lifestyle that I’m living right now This is success and it can be yours. There’ll be a link for you in the description So I wanted to talk to you today a little bit more about financial independence and what I’ve learned about it Having lived through it. And the first thing to realize is that actually all of us are in the way fine Independent already. Financial independence is essentially when you’re able to sustain yourself sustain the lifestyle Indefinitely, you don’t have to work. You don’t have to work the nine-to-five or the rat race You can just relax chill read a book play some computer games, whatever you want sit on the beach and the fact Is that everybody has had this at some point in your life. It was when you were a kid. All children in the sense are financially independent. They don’t have to worry about money They don’t have to worry about working or a job or any of that for at least say eighteen years while they’re being raised by their parents their parents are providing everything for them and as a child you Were financially independent until you got so sick of it and you wanted something more for yourself You wanted to see what more you could do with your life. You wanted to move out You wanted your own living conditions you wanted to win the respect of people you wanted to attract a partner for your life You wanted a career you want it to be successful you wanted to see what you could make of yourself and so it’s funny that for many people they’ve sort of come full circle and they want to go back to being Financially independent once more and find ways to downgrade their lifestyle. Well, I’ve got news for you It’s very easy to be financially independent. Just go move back in with your parents You will cut down your costs so much rent usually takes up the bulk of your expenses. Food doesn’t really cost all that much and if you were to cut down on your activities and remove all of your Vacations, you can essentially live with very little basic income. You would essentially be financially independent You could go live on the beach In fact, if you don’t really want to move in with your parents The other thing you could do is just go live on the streets. That’s right You could be homeless you could go live on the beaches of Santa Monica. You can sleep in all day you don’t have to work and that’s financial independence too. Even my dog is financially independent financial independence at first sounds really good It sounds like a very creative revolutionary idea where you essentially just can sustain yourself indefinitely one easy way to do This is if you have say a million bucks and could make four percent off of that on the interest stock investment returns every year. That’s like a 40k income and you could just keep that going for as long as you want and you Never run out as long as you don’t spend above say 40k a year. Now, inflation may eat away at that. So in reality, you may need more than that. A while ago when I had come into some sum of money I had thought to myself Well, I could just retire on this, you know If I choose to just lower my living expenses, lower my expectations, I could probably live forever on this amount of money and I thought, “Well, where would I live?” I wouldn’t live in Silicon Valley, because it’s just way too expensive. Maybe I could go to Nevada or something like that. And then thought about, “Do I really want to go live in the deserts of Nevada?” No offense to the people who actually live there I’m sure you’re having a great time there being financially independent and all. But I thought, Well, I could just go to Southeast Asia to where expenses are even lower and I could have an even better life I could live like a king over there. I’m sure that there are many backpackers and Instagram influencers Who have chosen a life over there and say Bangkok, Thailand or Bali in Indonesia Somewhere like that I’m going to take a look at this picture of this fishing village that I saw and when I first saw it I thought well that just looks Amazing! Like, what a great life living a carefree life in this smaller though unknown fishing village Enjoying a rustic Idol life. I mean that really sounds great. It’s all I could ever want really, you know, I don’t need money if I can have that lifestyle. Sometimes I wonder to myself if Given that choice would I just go out there go find a small little village to live in sipping coconuts and sitting on the beach all day and That’s one. I realize anyone can do it Really you just go to somewhere cheap somewhere in Southeast Asia or somewhere? and you know You can get that lifestyle. Funny thing is a lot of people choose to not go after that and I think that’s where financial independence Really starts to show its flaws Imagine that you could get a million bucks and you were making four percent off of that You have a 40K annual income and that all sounds good until you realize that There’s still a lot that you don’t get with that Your health insurance is one thing to think about like if you have to provide health insurance for your spouse Two to three kids plus yourself. That’s like four to five people already right there and you need to pay for each person individually. A career, a job will get you that automatically. Otherwise, You’re gonna have to pay for yourself and it’s not even going to be very good there’s gonna be pretty weak insurance and people are gonna be afraid to go to the hospital and everyone’s going to be wondering Yeah, maybe I should just sit this one out. Maybe I just shouldn’t skip the hospital on this one It’s gonna be expensive. It would be great If people can just go get themselves taken care of if they need to. You might also be missing out on career path Which I think a lot of people think about. You know, it’s not so big of a deal now But over the long run you might find that as you get older as you get into your thirties, forties, fifties. You find your classmates your peers they keep rising in status and level and you know some of these people are getting into like director positions, vice-president positions, their salaries going up. And meanwhile, You don’t have that career path. You’re just sitting on the beach, maybe with your financial independence. You’ve got some amount of income that’s coming in Maybe that amount looked good when you’re in your 20’s. But over time it didn’t really keep up with the career progression, because there was no career progression there. You also don’t have social status, which I think a lot of people care about. I think financial independence usually sounds good for single people. When they don’t have to think about their family when they don’t have to think about whether their kids are going to respect them if their wife or husband is going to respect them. If their friends will respect them so much. I remember when I would go around trying to date people I would just say, “Oh, yeah me. I’m – I don’t work. I’m financially independent.” And then people weren’t really impressed by that. They were just saying that’s weird. You know, I don’t believe it. I think everyone wants to hear at least something more solid than that. Like, an actual career path something that you’re passionate about something that you’re at least working on. Not just life We’re just gonna sit around, because, I think the fact is that financial independence Itself is not so sustainable, right? It’s sustainable with a steady velocity But in reality, most people don’t have a steady velocity that velocity is slowly accelerating over time as their career goes up and even if you could sustain Income that is not translatable necessarily to sustaining friendships or relationships With people your friends are going to be wondering. What are you up to? What are you doing? Why don’t you do anything? Why do you all you once you just sit around on the beach? Dinner conversations are always going to be weird when people ask, “Well, what do you do?” and you just say, “Well, I don’t do anything, really. I just sit around.” So, I think my realization has been that financial independence gets you a very bare-bones lifestyle. Very basic stuff and Most people already had that and it’s really more about realizing. Well, maybe we’re all financially independent Maybe we’re all good. Anyways, now what’s next? What do you want after that? It may really be more about seeing what you can do How far can you go how much more luxury do you want? And how much are you willing to work for it? I think it’s really about creating more options for yourself, you know at the most basic level Maybe we can all afford to go live in Nevada in the desert in a very sparse bare-bones lifestyle with our parents. But maybe we want a little bit more than that and you may visualize to yourself Well, what sort of life would you be content with? When I think about it, I might want something like the ability to live in a pretty nice city. You know like New York City, San Francisco, Seattle with at least a nice apartment, good view and I would want to be able to support a family if I wanted like a bigger family and I would want to provide everyone with Health insurance. I don’t want to go out to nice dinners Anytime I want to and it would be nice if I could take say two to four nice vacations a year Maybe go out to movies and theaters, if I would like to, and on top of it all it would be really great if I wouldn’t have to worry about being Stingy or cheap about any of this stuff? Like I don’t want to feel the burn of money leaving my pockets every time I go to a nice restaurant it would be nice if I could just go there and not even think or worry too much about it and just feel good and Have a nice dinner without having like a stomachache after that Worrying about how much that dinner just cost me thinking about the trend to justify it to myself It would be great. If I could just say what that was delicious wasn’t it? Yeah, that was good It’s not something where I have to think about whether it was worth it or not and it would be great if I could have Even some respect from people around me, from my family, from my friends. Who would say, “Well, this guy seems pretty cool He’s kind of a role model. He’s not just like a deadbeat guy, but he seems actually like he’s a productive functioning member of society.” That would be great. Now you may not need any of these things and I don’t either. Nobody needs any of this stuff as I told you The only thing we really need is basic food water and shelter and we’ve already got all of that. Most of us already have it. It’s really about what you want and to what degree you’re willing to work together. You know, like when I was “financially independent” So to speak. Where I just simply wasn’t working for a period of time. I would say to myself, Well, there’s a nice camera over here and I would like it But I know it’s a bit of a splurge and personally I would not buy that not with my own money. Not with my financially independent money. I’m not gonna waste money on that, but I’m willing to do a little bit of additional work to get that So this camera costs 500 bucks So I’m willing Craigslist, looked for jobs and found the job paying 500 bucks for me to create an app for them. So, that’s what I did. I just built-in that for them got my 500 bucks on PayPal and then use that to go buy this camera piece. And That’s pretty much like a job, isn’t it? Now, I could have easily said to myself that I don’t really need to get this camera thing 500 bucks. Not gonna work for. I’m just gonna go sit on the beach and relax and chill. And You know we can all do that, right? So if all you want to do is go sit on the beach then go ahead go down the beach I hope you have a great time. But I think it’s just important to remember that all of us can go sit on the beach. That’s an option that anybody really has we’ve all had that option ever since we were kids It was an option that most of us decided that was not sufficient enough Plenty of people do choose to go sit on the beach You could go to Santa Monica find a bunch of homeless people there Those are the people who chose that route and many people just said to themselves. They wanted more than that. They wanted to taste the finer luxuries of life. They wanted more options, more security They wanted to see how far they can push themselves. They wanted to play the game and I think that’s a good way to think about this, right? Imagine you’re playing the game and this world has so much to offer excellent food, fine luxuries, nice scenic destinations. Play the game See how far you can get and over I’ll do it in this sustainable way, such that, if you were to ever lose your job or if you wanted to just quit or do something else That it would not hit your lifestyle too hard I think that’s really where the mindset financial independence comes in. Where you keep your spending controlled, such that, you always have to freedom to do what you really want to do. If it ever gets to that point and I think it is that freedom, which is what this is really all about. Anyway, that’s all I have to say on this topic. Let me know your thoughts on financial independence. Would love to hear. If you liked the video give it a like and subscribe. I’ll see you next time.

100 thoughts on “The secret to Financial Independence (“How I retired early”)

  • Wow this guy explains everything i do in a game. Instead of taking money out of my bank Id rather work or get my money elsewhere to pay for that specific item I want.

  • 'i haven't got rid of my family, they're still there. i'm just not taking responsibility for them anymore' cut to 6 months later…

  • if u have say 100k or 200k in cash and investments,and u move into a shack or van with solar,can u call urself financially independent?

  • Hey brother, the only reason your dates or social company arent impressed that you live an early retirement lifestyle, is because they tie their success to 9-5 jobs.

    Trust me, everyone wants to live that lifestyle, except when it comes to people who love to work, or have a passionate yearning about their job or hobby, or people who just like to volunteer.

    They cant compare their success to yours…that's why its awkward for them. This is your success, and yours only. Be proud of it.

  • I have around two days watching your videos when i can and you are really teaching me a lot of things! I donยดt know what to tell you but youยดre such a good person sharing all of this topics you have in your channel. Your videos are helping me so much:) now i have a different perspective of life. Greetings from Mexico.

  • When people ask what I do, I answer "private investor" or "landlord" or "property manager". Career? Really? Social status is defined by how much money you have. If you are a millionaire, then you are high status (for the backwards shithole I live in). Let's, for the sake of argument, imagine a man who works as a vice-president of a sports club, making cheap change. Compare him to the "jobless" millionaire. Money trumps all in the end…

  • Financial independence is not equivalent to not doing anything. That is a very basic assumption.

    In fact, you could do what you truly want: write a book that in work you never had time for, work on open software, paint etc…

  • To paraphrase something I once heard, "a man wants to work." I'm sure all the different meaning were intended.

  • I actually enjoyed this video very much I've worked for the last 10 years as a Senior IT guy and I have some money saved. I'm single and have only one cat to tend to. I am just quitting my only job for these 10 years and I wonder what to do now in my mid 30s. Maybe some soul searching would be good, Some ideas run around my head to just do nothing for several months and see how it feels. Maybe go to my home town and not pay the super high rent in this big city. After that I might go work something different for some time, maybe something related to gardening or nature, nature is the only thing that I actually love and would like to get involved with (outside of IT). I am also sick of this stationary IT life same old thing over and over day after day, the junk food, the office sweets every other day, the critical problems the managers the cim calls, the friday pizza lunch the lazy colleagues on which you depend, the customers, the financial team that sell products without having any idea if this can be done technically, fuck it , promise him anything, just to make the deal… Maybe working at the docks for some time will get me into perspective ๐Ÿ™‚ I hope i find some motivation back. Yeah

  • However, you got married and now facing divorce so child support and alimony will force you to focus on how to make more money to fund your ex-wife and the kid she took away from you.

  • Freedom is doing what you wanna do, and the financial independence movement tends to attract people who have no goals to be a productive member of society and would rather sit on the beach lmao

  • Ur dumb bro. Financial independence is being a freelancer, entrepreneur, or investor. Itโ€™s the ability to say โ€œnoโ€ to a task or not needing to ask anyone to go on a vacation without losing your job.

    If you have 1 million and make 40k you are an investor basically. A shitty investor, but an investor (you should be earning 60-80k at the minimum) Just because you donโ€™t have the ability to communicate this to your peers doesnโ€™t mean investment is not a valid career. You donโ€™t need to be in a major city to manage your investments. You might need to be if you manage real estate, but for stocks or commodities, you just need a laptop and a good bank. If you have less cost, then you have less fear of losing money during investing. The career part is just how much you can grow your 1 million. Doubling it in 20 years could be a nice challenge. But really effective investors will achieve 40 million by the end of 20 years.

  • If you want to lower your expense much more, you can retire in developing and tropical country like Thailand, Vietnam, Indonesia, etc. It's much more relaxing, you don't have to worry 4 natural seasons, you can enjoy your hobby there. There you can live quite luxury with lower cost and enjoy your retirement.

  • Damn, instead of laying on the beach I would just work out, play games, and experiment with different ways to make money online.

  • Eventually, we will be financially independent, now young if you are smart or forced when you get old and deteriorated. I prefer now. Because at the end of the day we will die. ๐Ÿ™ˆ๐Ÿ˜

  • I think he has a skewed definition of financial independence lol I can't tell if he's joking. Not really funny tbh sorry

  • Nice thoughts. I think there are three situations. They are all about meaning. I seems do not mention it, at least clearly. See it in philosophical way: what for we are born? First we are growing and becoming what we need from the world, then we stop to grow and start to become older and giving us little for little to the world until the moment in which we have to give all we have, then our life is over. So basically we are here to give at first and to take only for to give. If one understands that this is the natural way of life, then one wants to live a creative, giving life, expressing oneself, because it is giving too. And one looks for what is it, what one have to give personally. what is ones purpose in life and unique way. I think people are deviled in those who still want to give for to take and they are lacking meaning and going against natural way of life; and those who are taking for to be able to give and the have their meaning of life; and finely those who understand that all they do is their self-expression and giving, that they give every second and they don't need any more any meaning of life which can get also lost, they can't lose it. But nobody can get it as achievement, etc. because it is essential giving, no getting can access it.

  • lol at all the confused comments. I think what he's trying to say is that financial independence, at its bare-boned definition, is a pretty lazy goal. if all you want in life is to be free from financial worry then there are a ton of ways to achieve that (and clearly it doesn't have to be glamorous).

    What's more important is to live a life where we reach our highest potential. Focusing on who we will become and the impact we can have on others is a much more meaningful (and fun) way to live regardless of the "financial independence" we may or may not achieve.

  • I sat here watching the video with a serious face, then he said "Even my dog is financially independent!!" And I had to chuckle

  • Isn't health insurance in US really expensive? I heard that big companies pay for you but what happens if you quit? Is it affordable for normal people?

  • How to be Financially independent ?

    Work hard

    Become a Millionaire first and then quit ur job
    Enjoy spending money, going on vacations ,buy expensive gadgets put some money on investments
    Too easy

  • I love your mind and sarcasm. This is so philosophical and humorous. I appreciate this deep Perspective. You point out the juxtaposition of "freedom" in a really funny intelligent way. Be well, spiritually… โœŒ๐Ÿพ๐Ÿ™๐Ÿฝ๐Ÿคธ๐Ÿฝโ€โ™€๏ธ๐Ÿฅ‚๐Ÿคฏ๐Ÿค—

  • Enlightenment, once the kids and women are out of the picture. I'm on the same boat but health is what really im working on. After 40 nothing heals as it once was. As such no matter how much you make at your 8 to 5 job, it will not earn you enough to regain your health as your health just keep deteriorating. And costs of health keeps astronomically increasing as you get older.

  • Problem: How to instantaneous achieve financial independence with in 30 seconds or less? Shoot yourself in the head. All worldly problems from financial to social are immediately zeroed out! Problem Solved.

    New Problem: You are putzing around in the after-life watching everyone else enjoy the challenges of life for an eternity and everyone is ignoring you. But you are now financially independent.

  • "I've gotten rid of my family…

    Oh god, please help me, my life is no longer worth living! Oh, the pain! Why has my god forsaken me?!"

  • actually this guy is so awake,,,, its not even funny…. he is a step away from learning Ancient scripture and texts from the beginning of time and do not judge me by that photo….. thats my pre prgorammed 80,s look

  • To me, financial independence is the ability to finally RETIRE at a younger age from my career, then work from home. Start up my own home business and NOT putting up with CRAP from all of these demanding employers! It seems that NO MATTER how much of a good person you are or work you do, they ALWAYS have something to COMPLAIN about! I am GLAD that I finally retired and look forward in the next Chapter of my life. If you wish to visit me Patrick, you are welcomed to come to Miami, Florida.

  • Living with my parents in my 20's โœ“
    Cut off expenses so I am basically saving 90% of my salary โœ“
    Single and zero friends and people to worry about โœ“
    I am financially independent.

  • Your delivery is so deadpanned that I honestly cannot tell if these videos are performance art or genuine introspective pieces, or a combination of both…nevertheless I do enjoy them.

  • How to approach early retirement comfortably?

    Define Your Retirement. …

    Evaluate Your Health โ€” Now. …

    Determine When to pick up Social Security. …

    Decide How Much You Want (or Need) to Work. …

    Create a Retirement financial plan. …

    Find New Ways to Cut Your Expenses (Start Saving More) and it's also required to start up an lnvestment… Now

Leave a Reply

Your email address will not be published. Required fields are marked *