Paridhi Kothari, Sangeet Chandaliya
Context
Paridhi and I came to know about the Financial Independence (FI) movement last year. The idea resonated with both of us, although for different reasons, and slowly, but surely, we began our journey.
We started by going through a wide range of online resources and accounts of people who have already completed their FI journey (or are on their way). Most of this content, however, was written by millennials, for millennials. Soon enough, we realized just how different this experience was going to be for Gen Zs.
And so, we have decided to document our FI journey. In our first post, we discuss what FI means to us.
What is our goal?
We want to be financially independent (FI) by the time we reach 35. It is a ridiculously ambitious goal. But we aim to seek it nonetheless. Ironically enough, we are never taught about personal finance, yet money - up to a certain point - is one of the more important things that allows us to sustain ourselves.
What does FI mean to us?
Paridhi: I always had this dream to stop working at around 40, move to a beach and sell ice cream out of a truck. But I honestly, never knew how to make any of it possible. After all, I had heard that people can only retire after 60! I got so excited when I came to know about this entire community of people who aimed to retire within 10 years - without having to have a six-figure salary!
So I guess, for me, FI means the ability to achieve my dream of having a laid-back life where money doesn't make my decisions for me. Where I can take up a low-paying job or an unpaid position without having to worry about paying the bills and making the monthly rent. For me, FI is a way to change the ruling currency of my life from money to time - only one of which is escaping, the other only tries to keep me trapped in a cycle of utterly unimportant things.
Sangeet: When I was introduced to FI, I thought it might help me invest better. But upon further research and learning about this "movement," I realized that it's actually a guide on how to live a better life. It encourages us to strive for a healthier and more frugal lifestyle. Therefore, to me, FI is more about the process than the end goal.
What this series is about?
This series is a documentation of our journey - our learnings and our mistakes - towards FI. We went through a number of online resources, but, didn't always connect with the Millennial-oriented content. For us, step one was acknowledging that our journey was going to be different.
Through this blog, we hope to start a conversation with other Gen Zs who are on their own path toward FI. If the idea of FI sounds a bit intimidating, you may still find some of the sub-concepts helpful in improving your lifestyle.
What this series is not about?
We are not trying to preach or make over-arching claims. We are two people who do not want money to be a factor that controls our lives longer than it has to.
We are not making any commitment with regard to the frequency of the posts since our number one priority is to seek FI, and only then can our updates be valuable to anyone who reads this.