Mike Garcia is a friend and colleague who learned about financial independence and early retirement in 2014. This newfound knowledge led him to focus on achieving financial freedom by taking small, consistent steps toward his goal. In this podcast summary, we’ll look closer at how he continues to work towards his future financial freedom while living a rewarding present life.
His introduction to personal finance was through an article that suggested retiring early at 50 with a nest egg of a million dollars. Shocked by the amount he would have to save and having just finished physical therapy school, he felt a sense of urgency to get the ball rolling into accumulating this massive retirement fund.
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Mike eventually came face to face with the Financial Independence (FI) movement through the works of Mr. Money Mustache, learning about various financial concepts such as investing, saving, and budgeting. He shared his knowledge with his family and worked towards getting a hold of their expenses, knowing their financial goals, and being intentional with their finances as a household. Through these efforts, Mike and his family became a team with a fixed purpose, achieving milestones such as owning a home.
Despite knowing the importance of aggressively saving, he struggled to reconcile the idea of sacrificing one’s present happiness for a dream of future stability. For instance, he used to work 60-hour weeks when he started working as a physical therapist in 2015. It was toxic work, and he couldn’t shake the feeling that he was not living the life he wanted, forsaking the unquestionable “present” that was here for a questionable “future” that may never come.
It’s easy to get caught up in saving for the future and forget to enjoy the present moment. Mike visualized a life where he invests in experiences that bring him joy and fulfillment instead of waiting for a far-off retirement date. By prioritizing the present, he could create a life he loves while working towards Financial Independence.
Mike read the book Vagabonding by Rolf Potts, which sparked his interest in long-term travel, and it couldn’t be better timing. He immediately hatched a plan to quit his job to pursue other passions, such as writing and spending time with people he values. In the spring of 2017, he began planning things he wanted to do and saving aggressively for his mini-retirement.
By the spring of 2018, he had quit his job and was on a two-month trip to the Philippines, catching up with friends and taking it slow, which gave him the relief he needed from work burnout. Then, in the summer of 2018, he went on a three-month road trip across the United States, visiting and writing about the country’s majestic parks. It was the happiest he had ever been. He felt like he was harnessing the perks of Financial Independence without necessarily having the 25x annual expenses net worth that it should come with.
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After almost half a year of vagabonding, Mike’s next chapter was to design his life in chunks of weeks. He negotiated with two rehab facilities to work part-time on fixed 2-day schedules, giving him sufficient time to pursue his passions, like learning more about personal finance, writing about his life on the road, and shredding ice on the ski slopes in the winter. He designed his life to allow him to live in the present while still working towards financial independence. He believes that his days will not differ much from his life when he finally achieves financial freedom.
Mike is still on the path to Financial Independence, albeit slow and winding. While enjoying the present moment is essential, he knows we must also be ready for the future. Mike and his family continue to work towards their financial goals. By being intentional with their finances, they can create a sense of financial security that allows them to pursue their passions and live without financial worries.
Upon realizing that taking control of one’s finances and work life is within anyone’s reach, he began sharing articles and insights with his close family and friends, eventually turning to his blog, writerintransit.org. The blog became an outlet for his writing and a platform to connect with family and friends and share his learning about financial independence, travel, and life.
In conclusion, Mike Garcia’s story is a testament to the fact that anyone can achieve financial independence by taking small, consistent steps toward their goals. Financial independence is more than just a sprint to retire early. Instead, it is designing a life that highlights your values and happiness. By focusing on what truly matters in life and being intentional with our finances, we can achieve financial independence and live a fulfilling life.
About Us
We are a Pinoy Physical Therapist duo living somewhat unconventional but intentional lives. In this podcast, we want to learn how Filipinos worldwide in different industries and walks of life earn, spend, save, and invest money to achieve Financial Independence.
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DISCLAIMER
We are NOT certified financial advisors, analysts, or CPAs. Investing strategies shared in this article and the website are not financial advice but our opinions for educational purposes only. We want you to treat our content as a preview to do your research so you can make smart financial decisions.
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