The reliable road to financial independence goes through savings and financial markets speculations avoidance. I would enjoy trading as mental competitive exercise, if I have spare money I don’t mind to lose. To do the same with core savings is too much risk for me.
Previously, one of my blog readers stated that I played "golden past, bleak future" song. This indeed how I felt myself in everyday life for the past three years. In the job I held my income was reduced by 40%, I was traveling 50% of my time without any compensation for it (people who worked in the office at the same level were paid the same). I gained 10kg in weight. I used to run 10 km in 35 minutes, I could only run 6 km in the same time now.
Another reason is that immigrants are not accepted as socially equal. Through my company I had a private medical insurance (almost useless in the UK, as you will see later). I could do one health assessment per year free. After all the changes I had diagnosed with high cholesterol level and was told to manage it medically. When I went to my family doctor (general practitioner) to get the medicine I brought her results and the doctor’s contact details. She spent less than 5 minutes and said that there is no need. Without further advice on what to do my appointment was over. Later I released that it is impossible to complain anywhere about medical mis treatment in the UK.
The turning point was an appointment system at the general practitioner’s – when it is your time, they put your name on the screen in the hall and machine would read it. If you have an English name, lets say “Henderson” the machine would read it correctly. If you happen to have “Janssen”, “Hwang” or “Gutierrez” it will start spelling it out letter by letter very loudly. The system is designed to abuse foreigners at every corner (unless you are very rich). Although this service is paid by me (as taxpayer) the concerns of equal treatment are largely ignored.
Combination of all of the above with the Brexit, moved me towards looking for a job elsewhere. I was successful in it. The new job will enable me to save more money towards the financial independence.
- Save 20% on the income - Accumulate $25 K a year and invest it either in one of the existing funds or new one.
- Develop additional income source in full, potential reward about $2,000 a year. Target sites to be developed in full this year. This make it or break it. If I am not able to do this year, I will wind down niche sites and focus elsewhere. My personal preference is to make it, despite disproportionate amount of time I might spent.
- Regular monthly updates.
- To cover 6 themes on financial independence, including mortgage one.
- Read 12 books from the list.
- Publish the books reviews.
- Corporate finances to study in detail.
- Be happy. Run 1,000 miles during the year. BMI at 26.3 by December. Loose 2.5 pounds a month.
What are your 2020 goals? Is it something you recommend I do more or stop doing?