Declaring My Financial Independence Day

Declaring My Financial Independence Day

Financial independence, as I have written here before, is my ultimate goal. I think I am well on my way, but I have never put down when I think that will happen. I have thought about what my number would be, but I have never put down a date. Even Steven Money has a tab on his blog where he has had dozens of people declare their financial independence date. Some of those dates are years away, some will be here within a matter of months.

I have been blogging on this site for almost two years now. I have paid down over $50,000 in debt and saved much more than that in my retirement funds. I think I am on the right path.

So this morning as I was looking at some things I decided it is time to declare my financial independence date.

Drumroll (or eyeroll) please

December 31, 2026 is my financial independence date.

Why That Date?

The question then is why that particular date. Why not sooner or later? Before I answer that let me say what this is not. This is NOT my retirement date. I don’t plan on stopping working (although that might be nice). I don’t know if I will ever quit working. I think we need to re-think what retirement means anyway.

This is NOT a date when I will quit my job. I don’t know when/if I will ever leave this particular job or company. I love what I do.

Financial independence has always meant to me that I will have accumulated enough in savings so that I/we could live off of our savings. In other words, if I were to take the classic 4% rule on my investments I should have enough money to pay my bills, food, gas, etc without worrying about it.

That doesn’t mean I will be able to go to Tahiti whenever I want, but I have the basics covered and maybe a little more.

So now we come to the question of why this date?

I came to this date for a few reasons.

  • Our home should be paid off by then
  • Student loan forgiveness should kick in for both Mrs. ROB and myself
  • We should’ve accumulated a lot more in retirement savings. Based upon my calculations we would have enough to pay our bills.
  • I should be in my peak earning years a this time.
  • At that time I will have worked at my current position for 20 years. It just seems like a nice number.

The big reason I can declare this date is because most, if not all, of our debt should be gone. The house, the student loan debt, and the like should be paid off within the next 9 years.

Now this could all change. I wish it would be sooner. If I win the lottery I will declare FI a lot sooner. Of course that would mean I would have to buy a lottery ticket and I just don’t ever do that so it is most likely going to happen from good old fashion savings and debt payoff.

I have 9 years to go. I will be 52 by then. I would love to do it before I am 50, but I don’t think I will have quite enough savings ready to go. The debt my be almost gone, but the savings is what I am more concerned with.

So if I asked you what would your financial independence date be? Declare it. Make it a goal. See if you can attain it.


6 thoughts on “Declaring My Financial Independence Day

  1. Congrats on setting a date! I think it will be great for your psyche and will motivate you to reach your goals.
    I haven’t quite set an FI date. Too many factors to consider. However, I have set a few financial goals to achieve by the time I reach 30 (I’m 26).

    1. Thank you so much. It does feel good and it gives me a specific time to shoot for. I need to achieve this by hook or by crook.

  2. Nice job. Declaring a date and putting the right steps into place to ensure success is really important. On suggestion, make your last day 12/30/26. You don’t want to be working on New Years Eve 😉

    1. That is a really good idea. I will definitely modify it. I actually should modify it to 12/30/25…not 26, but who is counting. Thanks for stopping by.

  3. Congrats on setting a date – it certainly does crystallize things a bit once you have that figured out. My date isn’t far from yours. I am 2025.
    Good luck with your journey and I look forward to following along. Cheers.

Comments are closed.

Comments are closed.