Quote of the day

“Time, not money, is your biggest asset in life. You need time to invest in relationships (with yourself and your family) or to chase your passion. Think again" if you are still trading off time for money. Let your money work for you. You don't work for money. That is exactly what Financial Freedom is...”
Manoj Arora

That should be one of my mantras in regard with my personal finance this year. I will say...

Who want to have all the time in the world?

The ancients said that the best time to plant a tree is 20 years ago. The second best time is now. What we learn from this? Let's say that we always dreamed to be free, to have all the money we need, and to have time to spend with friends, family and loved ones, or just to do whatever drives us, to follow the passion in our life. We need to go to work, you will say, we need to get our wages! What if it is a way for all this? What if...

Go to earlyretirementinuk.blogspot.co.uk and read more. You can thank me later.

Financial independence for people working in Central London

I just heard about some rumors like commuting from Madrid is cheaper than living in London. Is that true? Let's see. As Homes&Property of Evening Standard is saying, an average one bedroom flat in Camden costs 1893 a month to rent, council tax is 111,40 and a zone 1-2 travel card is 123,30, resulting the basic cost of living in London 2128 pounds. A fully furnished air-conditioned apartment (Yes, we got sunny days in Spain) in the heart of Madrid is 532 per month, with no council tax to pay. Booking the flight with budget airlines like Ryanair will cost you on average 900 per month. That is 1725 pounds a month including train travel. 403 pounds less every month, or 4836 extra money in one year. And we are talking about Madrid. Good football, nice food, good exchange rate pound/euro, 6 months of proper summer and Latin women. What would you want more?

P.S. IF you want to move i can tell you this:
Best websites to find a home are Idealista and Fotocasa.
Best budget airlines are Easyjet and Ryanair.

And in just 5 years you will save 38.688 pounds on average 4% return. In 10 years is no less than 74.958. Living in Spain. Working in London. Any thoughts?

(Of course it will be much easier to move to a small city like Bedford,one hour to Central London by train. Where you will pay 500 for rent for a 2 bedroom flat, 55 of council tax and 367 for train (4404 for an yearly train pass) on a monthly basis, making your expenses 922 pounds. This way we will have a whooping 1206 saving per month or 14472 per year. For 5 years is 115.776 pounds (on average 4% return), for 10 years is an incredible 463.104 pounds, more than enough for your early retirement, financial independence, FIRE or whatever is your strategy called. Sometimes is just as easier as that. And 4% return means that you will learn to live with 18524 pounds per year, or 1543 per month. We can go even further. Imagine that your partner is doing the same thing as you. 3086 per month. Add 10 years from now and you can be the one of the few living the dream.)

***Don't forget to buy me a drink when you get there. Ha ha!

Financial independence reading list

As i was inspired by Mr. Money Moustache , i am writing my past, present and future reading list for the year 2015. It is a long one, but i hope to inspire you. Let's start!

Investing and finance books:

The intelligent investor - Benjamin Graham
Money - master the game - Tony Robbins
The 100$ startup - Chris Guillebeau
Business adventures - John Brooks
Financial shenanigans - Howard M Schilit
The 4 hour workweek - Tim Ferris
The battle for investment survival - Loeb
The Dhando investor - Pabrai
Contrarian investment - David Dreman
The opposite of spoiled - Ron Liever
Thrive - Ariana Huffington
Splitwille - Jason Zweig
Financial statement analysis - Martin Fridson
The financial number game - Charles Mulford
Zero to one - Peter Thiel
Fastlane millionaire
The richest man in Babylon - George Samuel Clason
The greatest salesman in the world
The only investment guide you'll ever read - Andrew Tobias
Naked economics - Charles J Wheelan
Guide to economics indicators - The economist
The four pillars of investing - William Bernstein
How the economy works - Roger E A Farmer
Scratch beginnings - Adam Shepard
Plenitude - Juliet B Schor
7 laws of money - Mike Philips
Choose yourself guide to wealth - James Altucher
Economics explained - Robert Heilbroner and Lester Thurow
A random walk down Wall Street - Burton Malkiel
The intelligent asset allocator - William J Bernstein
Toward rational exuberance - B Mark Smith
The little book that beat the market - Joel Greenblatt
Early retirement extreme - Jacom Fisker
I will teach you to be rich - Ramit Sethi
Your money or your life - Joe Dominguez
The millionaire next door - Thomas Stanley and William Danko
The automatic millionaire homeowner - David Bach
Rich dad, poor dad - Robert Kiyosaky


Philosophy

Guide to the good life: the ancient art of stoic joy
The magic of thinking big - David J Schwartz
The life you can save - Peter Singer
Against thrift - James Livingston
Choose yourself - James Altucher
Abundance - Peter Diamandis
The gospel of wealth - Andrew Carnegie
How to be successful in life and make friends - Dale Carnegie
Unconventional succes - David K Reynolds
The most important thing - Howard Marks
Life is what you make it - Peter Buffet
Vagabonding - Rolf Potts
We learn nothing - Tim Kreider
The long tail - Chris Anderson
Linchpin - Seth Godin
Quality - John Galsworthy
Macroscope - Piers Anthony
The art of peace - Morihei Ueshiba
Odd John - Olaf Stapledon


Biographies/Autobiographies/Memoirs/etc

The Snowball - Alice Schroeder (Warren Buffet)
Dreams from my father and the audacity of hope - Barack Obama
The power of myth - Joseph Campbell


Applied math/General science

Struck by lighning - Jeffrey Rosenthal
The selfish gene - Richard Dawkins
What technology wants - Kevin Kelly
Nudge -

Early retirement extreme

And looking around i found a brilliant guy who did what i still have to do for the next 9 years in just 5. It is a bit technical but you can understand it. I could not see to many website like this one in UK, so i need to adapt all this USA oriented knowledge, but anything is good as long as i improve my odds.

The website is called earlyretirementextreme.com , and the guy did it at the age of 30. Impressive, isn't it?