Vivid Vision - February 2020
Prelude – In late 2018 my boss/brother died suddenly in a plane crash. A month later my father was put on hospice. A month after that I was forced to sell my company against my will and the buyer didn’t want to retain me or my team. At the time I had a 1 year old with another on the way. That moment something in me changed and my priorities shifted. And then I read the book, “Rich Dad Poor Dad” which put me on this path.
F.I.R.E in Five - February 2020
F.I.R.E. stands for financial independence retire early. Aka, this means I have enough income coming in from investments, side businesses, etc that it replaces my salary and pays for me/my family's cost of living and sets us up for retirement. Essentially, I never have to work again to support myself or my family.
So it is 2025 and I’m 45 years old and I have achieved F.I.R.E. Achieving this goal was not luck but extremely deliberate and difficult. For almost 7 years most of my decisions and priorities have been aimed at achieving this goal and this allows me to live the life I dreamed of for the remainder of my time on this planet.
Because of F.I.R.E., I don’t have to work, but I choose to work on what gives me passion. However, I have taken back control of my time which is the only asset I truly care about.
People ask me how I am able to take the month of December and go somewhere warm with my family? The answer is F.I.R.E.
People ask me how I am able to attend every one of my kids’ sporting, extracurricular events? The answer is F.I.R.E.
People ask me how I am able to do date night every week with my wife without hesitation? The answer is F.I.R.E.
People ask me how I am able to enjoy all my hobbies and still have hobbies/interests that I am pursuing? The answer is F.I.R.E.
People ask me how I am about to teach people the lessons/path to F.I.R.E. or advise other businesses on the lessons/mistakes I’ve made over my career? The answer is F.I.R.E.
And people ask me why I am more present/mindful, content and easy going then I ever have been? I tell them that to achieve F.I.R.E. I had to adopt a lot of rituals/habits (regular exercise, healthier eating, meditation, constant learning/improvement, becoming self aware of my problems/issues, amenable to change/feedback, setting goals and executing). These rituals/habits have helped me to achieve my ultimate goal and get my time back.
Now my time is devoted to myself, my wife, my family, my friends and whatever else I choose.
And how did I achieve F.I.R.E.? From 2018 to present I worked daily to accumulate as many “passive” cash flowing assets as I could. I used the BRRRR strategy to purchase single family homes with as little of my own capital as possible. I invested in businesses where I could provide strategic growth guidance but not have to have a day to day responsibility. I flipped/wholetailed houses and funneled the profits into passive investments in multi family syndications. I worked diligently at my day job to achieve the goals that allowed for higher variable compensation, which I also then funneled into passive investments in multi family syndications. Every decision centered around the question, “will this provide me an opportunity for long term passive income?” and was mindful to not increase our expenses and live above our means.