Being featured in USA Today back in 2013 was a proud accomplishment for me.
Not only did it place relevance on what I was doing, but it also gave me a larger platform to reach and inspire more people than I ever could on my own.
And it’s an opportunity that I’ll always be grateful for.
I was just 30 years old when the article came out, really only a couple years into my journey.
But I knew then what I still know now: I wasn’t going to let anything get in the way of my long-term goals. I knew financial independence was an inevitability. And I was 100% confident that I was going to be able to retire by the time I turned 40.
However, there are some things I know now that I didn’t know then.
Recently turning 35 years old, which has become sort of an inflection point in my life, was the perfect time to reflect on some life and money lessons I’ve picked up on along the way.
I also think this is a great time to reflect back on that mainstream media feature.
This is a particularly salient moment to look back on it, as the physical article (in newspaper form) had a neat caption (you can see it above) that accompanied my picture: Leaving the 9-to-5 by age 35?
(I advised the article’s author that my goal was to retire by 40. But other people featured in the article were aiming for a far more aggressive time frame, so I kind of got swept up in that.)
Well, I’m now 35 years old. And it turns out that I actually left the 9-to-5 three years ago, at age 32. So I beat this prediction (which wasn’t even mine) by a full three years, which is something I didn’t plan on. I am really glad I did so, though, as I’ve now realized that the money is a means to an end, not the end in and of itself.
That said, the article noted that I figured I could bank more than $400,000 by the time I turned 35. And based on that passive income that kind of asset base could throw off, I figured I could make it.
Just to clear that up, I didn’t actually want to put a figure like that down on paper. I advised Matt Krantz that I think of my wealth in terms time and freedom, which is distilled down into passive income, not the size of my portfolio (because the former fluctuates much less than the latter, and it’s the former that actually dictates my ability to pay my bills).
However, I was pressed to put a number down. I advised him that if everything went just right, and if I was able to make more and save more, and if the market absolutely killed it over the next five years, I could probably see my portfolio hit $400,000 (it was around $100k at the time I said this).
We see that the portfolio is actually sitting at $335,000. So I fell short of that (uncomfortably aggressive) target.
But I was only counting on the growing dividend income my portfolio would generate for me. I didn’t factor in other passive income, like my best-selling book.
Moreover, I stopped aggressively saving and investing some time ago. There’ll be a time in the near future when I give away more than I invest, moving myself closer to full-time philanthropy.
So if I would have stayed on at the car dealership, sticking to the proposed idea of leaving at 35, my portfolio would be well over $400,000 by now. I was on pace to make more than $60,000 in 2014, before I quit. Even figuring on no increase in income over the remaining three years (unlikely), I would have saved and invested at least $100,000 more than I have over the last three years. Factoring in raises and investment gains, the portfolio would likely be over $500,000 by now.
All in all, I was fairly myopic at 30. A little naive, even. While I knew what I was capable of, I still sold myself short. And I was guilty of concentrating too much on the money. I didn’t see that the money was just the beginning, not the end. Of course, I was only 30. So it’s not a surprise that I didn’t see everything. Likewise, I’m sure I’ll one day look back at the 35-year-old version of me (the one that exists today) and laugh at my naivety.
I also didn’t think I’d continue to work as much as I do now. I’m probably just as productive now as I was back when I was working at the dealership.
I’m on pace to write more than 30 articles this month. I manage a large investment portfolio. I’m directly working with people in order to help them reach their own long-term financial goals. I’m studying to become a personal trainer, which offers me the chance to help people reach their long-term physical goals. I’m working on multiple projects in any given day. And I’m becoming a better version of myself through this empire of awesomeness.
And I think that’s really the main takeaway here.
At 30, I only saw the opportunity to retire by 40.
At 35, I see the opportunity to do so much more now that I’m freed from having to exchange my time for money in a disadvantageous manner.
I now realize that a job is much different from work. And having to do something is much different from wanting to do something.
As a consequence, the early retirement math is largely moot.
Furthermore, “early retirement”, as a more traditional concept, probably doesn’t actually exist in real life, as realizing one’s potential as a human being through purposeful work that adds value to one’s life and the world at large is the only sensible outcome of becoming financially independent.
What do you think? Any lessons you’ve picked up on over the last five years? Do you think of the you of five years ago as myopic or naive? Why or why not?
Thanks for reading.
“My goal is to create a life I don’t need a vacation from.” The statement on the wall behind your picture says it all. And you’ve obviously succeeded in this enviable goal. Keep shining the light on fiscal sanity & hopefully many others will join you.
Chris,
Indeed, it does. That’s why I hung that right next to the framed USA Today article. It’s the “before” and “after”, if you will. 🙂
Doing my best to help, inspire, and motivate. And I’ll continue to add value for many years to come. I thought my goal was an end. Instead, it’s really just the beginning. The funny thing is that I still have so much to learn. Very exciting!
Thanks for dropping by.
Best regards.
I remember when you made a post about that article. Man how time fly. 5 Years ago I just started with my dividend investing. I was very naive. I am very happy that i wanted to make a change 5 years ago to put me in a great position today.
FV,
The journey of 1,000 miles starts with that first step. We might not have all the answers when we begin, but the most important thing is taking that initial leap of faith.
Cheers!
It’s interesting to look back at what you did today and your future would have to thank what you did today.
Today it is much about the altruistic you, helping the wider audience and wider scope of focus. That itself warrants a success more than just a number itself.
B,
Absolutely. It’s so much more than a “number” now. I thought I’d hit a number, retire, and maybe blog occasionally. I now see I was really only scraping the surface. But learning and growing as a person is just part of the fun! 🙂
Best wishes.
I walked away from the corporate grind officially on 5OCT2012. Haven’t looked back since. I just wish I could persuade more people to see the light.
FV,
There are some people out there who genuinely love what they do. Those people don’t really need to see any light. I’m very fortunate to now be in that camp. But I arrived here only because I finally had the courage/flexibility I needed to take the leap and do things that I enjoy.
For those who are more or less “grinding it out”, I do what I can to help, inspire, and educate. But it’s ultimately up to them to take the necessary steps.
Cheers!
Hey Jason,
Time is flying man. I read the article around 4 years ago, and it inspired me and gave a full confident to think about financial independence. At the time, I was a just taking baby steps in my investing journey and thinking too much about money.
Fast forward 4 years, I have a sizable investments assets with high quality dividend growth stocks, and they generate around $8000 per year passive income.
Now I feel financially secure than 4 years ago. I eager to see my 2020 version of myself. I am sure it will be much better version than today.
You are the great inspiration for 1000s of people.
Best Regards,
FJ,
I hear you there on thinking too much about money back then. I just wanted to hit a number so that I could do what I wanted in life. However, I didn’t realize that the latter was far more important than the former. Once I got further along the spectrum of freedom, I started to realize that. Took that leap. Never looked back.
Best of luck as you continue to grow, learn, and become more free. 🙂
Cheers.
First, I really appreciate your contribution to the FIRE community. I have been tracking your FIRE for many years by checking your former and current sites and am glad to see your accomplishment. It is a great feeling as part of the FIRE community.
I was still working in the IT industry 5 years ago and never thought that I would retire in 2016 at age 43. Instead, I thought I would work till age 60. I was a bit workaholic. But I put my former career behind me and am studying gastronomy (culinary) in Mexico. This is something I was interested in during my childhood. I have neither any plan to become a chef nor to open a restaurant but just want to pursue my childhood dream to serve good food to my friends and family. And I really enjoy learning and discovering gastronomy.
ER2019,
Thanks so much. I’m just grateful to be part of the community. It’s an honor to be able to contribute and inspire others. 🙂
That sounds like an awesome plan over there. And the great thing about being flexible is that you can just go with the flow. If there’s another passion that pops up in a year or two, you can move over to that. I just couldn’t imagine boxing myself into something for decades of my life, which is exactly what careers tend to do. I think people and life are too dynamic for that.
Have fun over there!
Best regards.
Hey Jason,
I’m glad I found this site. I was a huge fan of Dividend Mantra and attribute it to the reason I started my own blog. I’m fairly new to the game. I started a year ago, but I am fundamentally committed to DGI. Unfortunately, I’m older than you but not quite 40. My goal is to be debt free by then with everything except my mortgage. I only have about $21000 in student loans remaining which should be gone within a year.
I just want to say thanks for the inspiration you’ve given me. I remember rereading your posts numerous times for inspiration. The idea that you realize that one day you were worth less than you were when you were a baby was powerful. Your thoughts on why dividend stocks and not indexing was influential in my decision to concentrate on stocks. All in all, thank you again.
I look forward to hearing more about your successes in life. I may not be to reach your level of investment anytime soon, but the fact that you were able to get to where you are in a relatively short period of time is very encouraging.
It’s good to reflect as you did in this post and you’re right in that our perspectives may change with age. But, consistency and persistence are key ingredients to making DGI work and that’s what I hope to do. Looking forward to more great posts.
DP,
Appreciate the support. Glad you found the blog! 🙂
I’m very happy that you’ve found inspiration in my writing and actions. That’s really why I share so much. I think becoming the best version of myself involves making the world a better place by helping others. Once I saw the light, I knew that I had to share it.
We all have different means and goals. Mine won’t be yours, nor should they be. As long as you’re on the right path for who you are and what you want, you’ll be just fine. Every day is an opportunity to get closer to that future you.
Thanks for dropping by!
Best wishes.
I feel like a radio caller by writing this comment to you: Long Time Follower, First Time Commenter.
I remember this feature from back in the day. I believe you are the first finance blogger I ever followed. Loved reading about the freedom fund. Still remember that arms up logo as well. Your stock breakdowns have always been great for years and I have loved your personal story as well.
Glad to see you still killing it over here now! Glad to see your new successes and will be following so much more closely over here! Thanks for being an inspiration!
-Cameron
Cameron,
Always appreciate those first-time comments. 🙂
Thanks for the support. It’s been a hell of a ride. I worked really hard, but I’ve also been very fortunate. The end became the beginning, though, which makes things that much more exciting.
I hope things are working out just as fabulously for you!
Cheers.
Hi Jason,
I enjoyed this article and remember when the original came out. I’ve been just over 3 years in my dividend investing journey and much of my inspiration came from you. This year the forecast is to have a bit more than $72K coming in from dividends which is a real gift to have at the age of 44. Moreover, I am doing many other passion projects on the side and enjoying the time for the most part while still grinding it out at the day job. The latter has become very political and high pressure at times but having a safety net really takes the edge off and at the end of the day it will be what it is. It is great to see how you continue to grow as a person and one who can still inspire others so strongly. I think your role as a coach, trainer and guide is well suited to your personality
Mike
Mike,
That’s definitely a real gift. You’re far more patient than I am, still grinding it out well past the point of necessity. But to each their own on that. 🙂
Appreciate the support. I’m so, so happy and fortunate to be here. The crazy thing is that I still feel like the best is yet to come. As my passive income and knowledge base grows, so do opportunities. It’s that exponential quality that makes me excited to get out of bed.
Thanks for dropping by!
Best regards.
Wow, what a flashback. You and I were both born in early May 1982, so it’s fun to observe the similarities and differences in our paths when you post these life updates. (I don’t mean in a competitive way.)
In March 2013 I was working from home and my business was barely surviving. I pulled up my spreadsheet and see 2013 was my worst year of income since I was a teenager — just shy of $30,000. But, since I never really inflated my lifestyle during the boom years, I still managed to save a little over $11k that year.
In 2014 I basically had a job fall in my lap, so I took it. It was my first 9-5 job with a boss, lots of coworkers, and cubicles (ugg!). As you were getting out of the 9-5, I was just getting into it. The end of this month will be three years there. Turns out I didn’t need the job since my business picked up again and I’ve been saving over 100% of my gross pay from the job. Even though I didn’t need the job, it has certainly helped accelerate my FI date. It helped reduce my financial stress, plus it gave me a lot better perspective on how great it was to be my own boss and work from home.
I’ll quit the job the end of this year. 3.5 years of having a 9-5 job is enough to know I never want one again. The only thing making the job tolerable at this point is knowing that I don’t *have* to be there, and I only have 81 more work days to go!
I have my house up for sale and I already got rid of most of my stuff. It’s funny, the fewer items I own, the happier I am. The only thing I really want to own is my time.
Travis,
Thanks so much for sharing. It’s great to hear from someone who’s been on a somewhat similar path – and the same age.
Congrats on moving along the spectrum with such speed. That’s the only way I know how to do it. Some like a slower pace. To each their own, but I just had to own my time ASAP. There was nothing I wanted to own more. Although the focus was initially on “retiring” (or at least quitting my job), the perspective has now widened significantly. However, that change in perspective could’ve/would’ve never happened had I not been in this position in the first place. If I were still at the dealership, my mind would be consumed with thoughts on how to get out.
3.5 years is indeed enough. I hear you there. Although I may end up working again at a more traditional place of employment, rather than only what I do at home (as a personal trainer, or perhaps something else down the line), it’ll most certainly be on my terms. Jobs and work are really very different. That said, I hope to never see the “grind” again for the rest of my life. 🙂
81 days will fly by. Enjoy the next phase. The changes and personal growth that await you is just as exciting as the freedom, in my opinion.
Best regards!
Hi Jason, interesting toughts. Well Im only 3y into dividend investing. I haf lots of changes in personal life in past 5y and that what I like the most. I found a person tham im happy with that magical second part of me 🙂 Now my no1 target is family. Also I got some changes in job. Now im in commercial large corporate banking. I fell like im dping something tha matter. Managing large loans for clients that build and
grow my country economy with thouse funds. And I get paid not bad on the way 😀 But now im on building my better personality by workout, cold showers and meditation at each morning. Still not that calm person as I would like to be but one the right path at least 🙂 In general I think most important thing is to be happy and ikt does not matter hoe you acheave that 🙂
P2035,
Sounds like you’re well on your way over there. The long-term overarching goal should always be to improve oneself and become happier. It just so happens that financial independence is a great platform for that. However, it’s not always necessary, especially in terms of achieving 100%+. Even getting halfway there will often give you most/all of the benefits, while some people don’t need any of it at all. If you have meaningful work and a robust life, you’re probably already set. 🙂
Cheers!
I remember you appearing on various programs where they talked about this stuff. I always remember how they would bring on “experts” to debunk the idea of saving and investing in passive income. I distinctly remember one appearance you had where an apparently deaf “financial expert” criticized you on the grounds that there was no way you could stretch $400,000 over sixty years, not having paid attention to the basic tenants of your stategy. FIRECracker of Millenial Revolution gets the same treatment that you do when she gets interviewed.
These “experts” love to mindlessly tear down the idea of early financial freedom. I would love to see their faves if they found out that you achieved your goals right years early.
Keep rockin’ it over there!
Sincerely,
ARB–Angry Retail Banker
ARB,
Haha. Yeah, I remember that. That was when I was on The Today Show. It would definitely be interesting to come back on the show and say, “Look at me now!” 🙂
My favorite part was where she kind of discussed how “anything can happen”, even (if memory serves me correct) insinuating that I could die crossing the street. I rehashed that a bit in an article that I wrote not too long ago (discussing optimism), but there’s really nothing you can do with people like that. Early retirement/financial freedom isn’t necessarily for everyone. Not everyone has the right mindset, or will. And so I simply try to reach those that actually get it and want it.
Thanks for dropping by!
Best regards.
Aww man, now I have that old Toby Keith song stuck in my head.
…How do you like me now
Now that I’m on my way
Do you still think I’m crazy, standing here today…
Travis,
Haven’t heard that one. I’m actually reminded of the song “Beercan” by Beck.
“How you like me now? Pretty good. Going on, feeling strong.”
I think that’s going back to the mid-90s. Just a kid back then. 🙂
Cheers!