Hi and welcome to this blog!
I am a young woman, we’ll call me Ms Mod for the sake of this blog, that lives with a young man that we’ll call Mr Mod, who live in an medium sized town in the province of Quebec. We are parents to 2 young children. We are around 30 years of age and have the goal of becoming financially independent by 2025 (8 years from the time I am starting this blog). I decided to write this blog to document our journey, and in the hope that by sharing the knowledge I gain to reach this goal, I may be able to help other people establish and reach their own financial objectives.
I studied in business administration and started, about 7 years ago a career in financial analysis. I am certainly not an expert in financial planning, rather I apply my financial analyst knowledge in my day to day life, by treating our finances a bit like a small business with revenues and expenses.
The idea of becoming financially independent was born during the first five years of my career partly because I was bored of putting so much energy into my work and partly because Mr Mod and I learned a lot through interesting financial opportunities. For example, when we decided to buy a house in 2013, we had acquired enough asset in the condo we bought in 2010 in order to have a down payment for the house all the while being able to continue owning the condo and turning it into a rental property.
At that moment, I was reading lots of articles on paying off a mortgage as quickly as possible and investing in rental properties and I stumbled upon Mrmoneymustache’s website. For those who do not know him, he is a man who retired in his early thirties. I was charmed by the simplicity of his path to reach financial independence. In brief, he and his wife simply chose to live a life with low costs, spending as little of their income while investing the rest in order to establish a retirement fund allowing them to maintain this cost of living for the rest of their lives.
We then created a realistic and measurable plan to reach the same objective as MMM, to be financially independent, by 2025. In short, the ultimate plan is to gain back control of our time, not have to do the whole 9 to 5 routine until 60 years of age before having our entire day to focus on what we really want to do. The way we will reach it is by investing more than half of our income and by maintaining a low cost of living.
It’s a subject on which I am very passionate and I spend lots of time reading and listening to stories of people who have achieved financial independence. It gives me courage to know that others have reached that goal and shows me new ways to save and invest and to see that there are lots of different strategies to reach that objective.
I hope that I am able to inspire others with this blog all the while providing some accountability for my family to stay on track to reach our goal by writing publicly and regularly about it.
I invite you to read my blog if you are interested in:
- following our little family’s progress as we journey along this road to reach financial independence by 2025 (which would make us retirees before we hit our forties!);
- lowering your expenses to make your debts disappear and increasing your savings;
- preparing a budget and learning how to follow it;
- planning big projects like renovations and travel without falling into the debt trap; and
- discovering all kinds of subjects related to wasting less of your money and making it work for you instead!
What you will not find here:
- tricks or product that promise you will be rich in a year, a month or other ridiculous time-frame;
- tips to win the lottery;
- promises that you will make your investments grow at a ridiculous rate like ‘’double your investment in a year’’; and
- all other unrealistic ways to bet on your financial future.