A list of the milestones I am setting towards Financial Independence and the rewards I hope to indulge in once I hit the stated milestone.
First 100K Invested
Now I am not sure if I should make this the first 100K I add to my investment accounts or cross this milestone off once my investment accounts hit 100K?
I think celebrating once my investments hit 100K might come sooner lol.
Reward: Vegas Weekend Stay At The Cosmopolitan
Become Debt Free
Luckily in December 2020 I finished paying back my student loans. If you want to see what sparked that decision, check out this post about my breaking point. I still owe about $10k on my car loan until I can call myself “debt free”.
I am however, looking to buy a home thus potentially putting myself in debt for another 15 years. Or maybe I won’t count it =D
The location of this celebration will depend on the weather at the time I hit this goal. I am not a fan of snow.
Reward: Enchantment Resort in Sedona or Weekend in Seattle
Save Up Enough To Buy Car In Cash
$23,123.23. I will probably never forget that number for as long as I live. As soon as I drove off the lot with my new car, I had instant regret.
I googled and googled as to whether or not I could return my Honda.
Spoiler: I could not.
So for my next car, I do not want to finance it. I am planning on buying it straight out in cash.
Hopefully though, this won’t happen for another 7-8 years.
Reward: Buy That Car
Save 25% of My FIRE Number
I mean I have a whole list of trips I would love to take. It would just depend on which ones I have yet to take once this milestone rolls around.
Reward: A Trip From My Bucket List
Save 50% of My FIRE Number
A lot of people consider this point to be ‘LeanFIRE’ . Meaning this usually marks a point to which they can walk away from their jobs and still be okay.
I am not one of those people.
I don’t plan on taking any sabbaticals during my FIRE journey because I know myself. I will not return back to work.
Instead, I will celebrate this milestone with a trip from my bucket list.
REWARD: A TRIP FROM MY BUCKET LIST
Save 75% of My FIRE Number
Yet another trip from my bucket list. Lol. You can say I love travel.
REWARD: A TRIP FROM MY BUCKET LIST
Reach Fire Number
I will go bat shit crazy – in a good way.
Conservatively, I believe I will reach this number in 15 years.
However, I am working on increasing my income to get to this number faster.