### Even Steven’s Journey to Financial Independence
Hey there! Welcome to Even Steven Money! I’m currently working to pay off all my debt, aiming to become financially independent and retire early. I kicked off my journey about a year ago and have been sharing my progress and stories for the past five months. The support and encouragement I’ve received have been amazing, so thanks for checking in!
Many bloggers like me have supportive spouses behind the scenes, and I’m no different. My wife loves reading everything I write and is my most loyal reader. She’s a private person and prefers I don’t discuss numbers like salaries and mortgages. She’s highly intelligent, earns a good salary, and had no personal debt when we got married. However, she’s a bit skeptical about my ambitious financial independence plans.
Convincing Mrs. Even Steven Money to get on board with saving and investing has been a challenge. She’d rather chat about almost anything else than attend monthly budget meetings or discuss cost-cutting and early retirement strategies. Often, I have to coax her into these conversations with the promise of a latte and some sweets. She appreciates the concept of financial independence but isn’t fully convinced yet.
For example, we recently had a conversation about financial independence (FI). My wife is passionate about moving back to Florida to be closer to her family. Our plan is to pay off our rental property in Florida by December 2016. The idea is that once the property is paid off, we’ll re-evaluate our situation and decide if moving back is the best financial choice. However, this move would mean giving up rental income from the Florida property, and although our Chicago home could generate more rental income by becoming a three-unit rental, we would still need to work, which contradicts my desire to stop working if we move to Florida.
During our discussion, my wife raised a valid point: how would moving impact our ability to retire early if we lost some rental income? I have this all detailed in a spreadsheet, and after reviewing the numbers, she started seeing how it might work. My financial plans include a large emergency fund, investments in stocks and bonds for monthly cash flow, and side hustles like eBay or blogging income.
I’ve learned that everyone’s situation is unique, and getting your spouse on board with FI isn’t a one-size-fits-all formula. Here are a few insights I’ve gathered:
1. **Excitement Levels Vary**: No one will be as excited about FI as you are. You read, blog, and dream about it, but your partner might not share the same level of enthusiasm.
2. **Different Dreams**: You need to recognize that you and your spouse may have different dreams. While my dream involves golfing and spending time with my best friend, my wife dreams of spending more time with her family in Florida.
3. **Shared Financial Roadmap**: Both of you need to agree on a financial plan. My wife focuses on paying off our rental property, while I focus on my student loans. Together, we have a roadmap for early retirement.
4. **Compromise is Key**: Financial decisions should be a joint effort. While I might prioritize certain debts or investments differently, being a team means making compromises. If prioritizing the Florida rental home helps, we’re on board.
I’ve learned quite a bit on this journey, but I know there’s still more to discover. I hope you’ll join me on this path and share your own insights.
Feel free to follow me on Twitter and Google Plus and check out my blog at Even Steven Money!