Yearly financial, mental, and other checkups (2026): A journey of FIRE (financial independence retire early)…
Winston Churchill: “Success is not final, failure is not fatal: it is the courage to continue that counts.”
As we wrap up the previous year (2025) and look forward to a new year (2026), I‘d like to take this time to reflect on the past year and to plan ahead for the upcoming year. It’s hard to believe but my wife and I have been retired (early) for over 5 years now.
We are ever so grateful that we’re living the way we wanted to live without conforming to what the society expects us to do. We said goodbye to participating in the rat race, to pay ever increasing real estate/school/property/county taxes to live in our own home, and we also said goodbye to the constant bombardment by media to make us consume.
By choosing the “red pill”, like Neo, the main character from the popular movie “The Matrix”, we finally saw the true meaning of finding happiness. It’s not through living the way society tells you to, but rather by figuring out ways to escape from that ever increasing demands by that same society to consume, consume, and consume some more.
At times, I felt like a farm animal constantly being fed, to be fattened up by society, to be harvested for consumption. Think about it. We’re born to consume from day one. We go to schools so we can get jobs to then pay into society via taxes of all sorts. We buy ever bigger things as we grow up: the clothes, shoes, smartphones, tablets, computers, cars, toys (child and adult), and for many of us, houses.
Who benefits the most when we buy homes? Sure, if we’re lucky that can be us. But who else benefits? The mortgage company, county where you live, and all sorts of companies having to do with a home including:
- Home inspectors
- Home insurance companies
- Real estate agents
- Title companies (and all the other companies that you deal with when buying or selling a home)
- Home repair companies (plumbers, handymen, garage door, driveway seal, etc.)
- HVAC repair/replacement companies
- Windows/doors repair/replacement companies
- Home improvement stores like Home Depot/Lowe’s, as well as other stores that sell/install things like kitchen cabinets, countertops, bathroom fixtures, etc.
- Home furnishing stores
- I’m sure there are more, but you get the idea…
I always believed that it’s vital to pat ourselves on the back for the things we have done right but also to see what we can do better going forward. A journey of FIRE (financial independence retire early) is not static, but rather dynamic. Just like in our everyday lives, there will be trials and tribulations along the way.
Although it was no easy journey, we’re glad we made it to where we are. Thanks to early retirement, we have traveled far and wide to places we otherwise couldn’t, via a cross country road trip nonetheless. We are so grateful for that, but we’re also grateful for having the time to spend with our loved ones. In the end, isn’t that what most people want?
And with this grandiose introduction out of the way, let’s get down to business of wrapping up this year while looking forward to the next year. Here are my yearly checkups list:
Physical
- Exercising our body on a regular basis
- Be cognizant of your mental state
These days, I see so many people who are unhappy with their lives. Why do you think there are so many antidepressants being sold by drug companies?
The more I think about this, the more I’m convinced most people are just not very grateful about the things they do have, right now. Unless you’re homeless with no guarantee of a next meal, then we should all practice gratitude.
Many of us living in the United States or any other developed nations should be grateful we have what we have today. We have clean drinking water, plenty of foods, plenty of jobs, and safe environments to live and to work.
Yet despite all these things we now take for granted, we’re less happy than just 30 years ago. It seems so many people are entitled to everything even if they haven’t earned any of it! Where does this mindset come from?
Parents are at fault for raising spoiled kids that demand everything as if they’re part of the royalty or the rich and the famous! Social media is also at fault for making feel horrible when comparing themselves to people and influencers running rampant, flaunting their latest purchases and exotic travels.
Everyone should earn money to understand the value of money. If it’s handed to them, then they’ll never know how hard it is to earn money.
There are way too many spoiled people these days demanding to get the princess (and prince) treatment. That’s why everyone is so unhappy. The truth is, the world doesn’t revolve around anyone and that’s why everyone’s so unhappy. Don’t be this person.
Forge your own path to live a better life. Don’t expect others to just give you things for free. Earn your own money, work hard to make something of yourself, and stop complaining! No one wants to hear it.
We all have our own problems to deal with. Deal with yours.
Being an adult means taking responsibility and accountability for everything that happens to you. Earn a skill that pays you well, budget wisely, save/invest, then do it for a very long time. Money will naturally follow.
The quicker you can get your life in order (financial, mental, physical), the better you’ll feel. That’s how I felt once I took personal ownership of my life, to make something of myself. We’re a living proof of that. Anyone can do it.
Financial
- First and foremost, budget!
Nothing happens without knowing how much money you spend each month vs how much you bring in. It’s the difference between these two that gets the financial ball rolling.
Keep close tabs on things you spend every month, find ways to reduce your spending, and stop buying stuff. The more you practice, the easier it gets.
- Invest the money
With the money you now have, you’ll invest that into your retirement accounts (401k, Roth IRA) every month. Consider putting away at least 10% of your income and buy a S&P 500 index fund (which tracks the USA’s top 500 companies). With low fees and a proven track record, you can’t go wrong picking this one.
As you get more knowledgeable and comfortable with investing, you can always add other investments as needed. Do this for 30-40 years consistently, and you should be well off.
- If you want to achieve financial independence earlier, put away not just 10% but more, lot more
Putting away 10% of your income is a good start, but if you want to achieve financial independence earlier, you’ll want to put away more. In my case, I put away the maximum allowable amount towards my 401k account (24% of my income) near the end of my early retirement.
This is what it takes to get there. No one said it’s easy, but for those few who are tired of the rat race, it can be done.
- Embrace minimalism
Budgeting became so much easier when we stopped buying stuff. Once we learned to live with less, the happier we got. No more stressing over the ballooning credit card bills come January, and no more stressing over how we’ll pay for all these things we bought…
Stop yourselves from mindlessly buying things that won’t really make you feel happier. Don’t live to impress others. Learn to live with less.
You’ll definitely have more money to invest, the more you practice minimalism!
In conclusion:
It’s always fun to look back at the past year to evaluate where we are now. One of the things that we always did at the end of the year was exactly this: to sit down together to go over things like the ones mentioned above.
It’s one thing to say you want something, but it’s another thing to actually do it. Talk is cheap, show it through your actions.
Plan with your significant other, put the plan into action, but do spend the time at the end of the year to evaluate where you are and to see how much progress you’ve made. Commend yourself on things you did well, but also admonish yourself for things you didn’t do well.
Keep yourself accountable for your actions and do this consistently. Over time, you’ll see your money grow, which will motivate you even more!
I wish you luck in your journey of FIRE (financial independence retire early), and thank you for reading!
Jake
Wandering Money Pig
