I have admired Warren Buffett long before I found the Financial Independence (FI) community. In fact, I dedicated the early part of my career studying finance and accounting so I could manage money as he does.
Warren Buffett comments that he tap dances to work everyday so often that his friend Carol Loomis, long-time editor of Fortune, compiled a book about his writings titled Tap Dancing to Work to pay homage to him.
The underlying theme of the FI community is how to reach financial independence as blazingly fast as possible to retire that they might sacrifice happiness along the journey. One of the more famous voices in the FI community who retired regretted being so drastic with his cost cutting since his marital harmony was negatively affected.
As a result, he decided to “splurge” on everything he found valuable to him and wife and ended up spending approximately 10% – 20% more annually.
Is that worth the unhappiness? Only you would know. The learning lesson is that having some form of balance is key. Being too extreme with cost cutting early on could cause burnout and resignation. Don’t try this at home.
Also, it doesn’t just apply to the expense cutting equation, if you are working in a position that you don’t like for different reasons, can you change positions?
One of my friends, who still achieved FI, decided to take a massive pay-cut a decade ago so she could work from home for her best friend.
Achieving FI is a marathon, not a race. Compounding is the 8th wonder of the world but it takes a long time to work. Don’t trust me, click on this link.
In terms of my own happiness, I have noticed that over time I have been happier as I find more like-minded individuals to discuss wealth building. While my knowledge isn’t always applicable to their life, they would listen and discuss the nuances with me. Starting this blog would open up another avenue for me to share my knowledge.
That’s why I name the blog “Tap Dancing to FI,” and not “Tap Dancing after FI”, first to pay homage to my hero in my own way, second to explore the idea finding my own version of happiness while achieving FI. By investing in the time starting this blog, I am turning away other opportunities that may help me reach FI faster. However, if my version of happiness is to teach personal finance and personal improvement I can write about it now, instead of after achieving FI.
And no, I don’t know how to tap dance. It is just a figure of speech. You wouldn’t want to watch me tap dance as you might want to rinse your eyes during and or afterward.
Are you now ready to tap dance with me metaphorically through my posts?