A blogger, yoga instructor, and business development professional living in LA and FI/RE-ing in 16 years with $1.6M
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Occupation: I'm a Travel & Wellness Blogger at Practical Bloggers, a yoga instructor, and a full-time Business Development professional in Tech. Currently, I'm on a corporate sabbatical, passively seeking full-time opportunities, whilst collaborating on a travel style line + studying to become a health coach.
Industry: Tech, Internet, Non-Profit (varies)
Location: Los Angeles, CA
Age: 28
Salary: My regular full-time income is approximately $6,200 a month after taxes. Nowadays, I probably bring in $2K with EDD money (unemployment) + coronavirus pay, so I am resting while I can. This is how early retirement will look like I believe :D Minus the lack of travel.
Ethnicity: Asian/Pacific Islander & Indian
Education: Bachelors
Current financial situation: Living at home with my parents for the pandemic, planning a move OUT of CA. TBD on that, debating whether to go for further education, full-time job while building up the Practical Bloggers empire ;)
What was your first job? Why did you get it? How much did you get paid?
I was a phone banker at a Los Angeles City Council political campaign. I was paid $10/hour back in 2010. I guess this sparked my interest in the art of persuasion ;)
Growing up how did you learn about personal finance? Was money talked about openly? How did it make you feel?
No. My parents are Scientists who are very much undereducated with money. They didn't know what an index fund was until I told him. Now I help my mom automate her finances, with the help of books and her money coach @savemycents. I never felt like I lacked anything, even though my parents rarely ate out. Indians are bestowed the stereotype of being "cheap", but I don't think they were that frugal. Yes, I travel 20X as much as they did, but I owe it to them for the foundation they laid for me for cultivating the sustainable, and abundant mindset. Education is key! And that doesn't necessarily mean formal institutional education. South Asian culture tends to be extremely money hungry and obsessed. Money is energy and the more you give and enjoy it freely, the more you'll get. Yes, you need to be mindful on your conscious spending plan but by no means is it reasonable to hoard and be a stingy f**k. Srry!
What was the moment or event that made you realize you needed to start getting your money together?
I've always worked in downtown San Francisco, where the shopping is PHENOMENAL! I love sourcing fabrics and styles through the stores and often indulged in emotional shopping. My first job out of undergrad paid $45K/yr so it wasn't a lot. I was frugal with food and with finding an affordable studio in rent. Where I failed was Banana Republic. Their clothes aren't even that great. I came to the point where I was too embarrassed to tell my parents about my credit card debt and lack of student loan repayment, that I borrowed money from a friend. A WHOLE YEAR after repayment, I got my shit together.
Let’s Talk Money
Net Worth: I actually don't know this. Will need to research later. I haven't hit the $100K mark yet but plan to by EOY.
Debt: I'm debt free, baby!
Monthly Expenses: Right now, it’s about $700/month with the courses I am taking, personal training, investment allocations, business coaching, my books, food, sparse hangouts with friends. I'm very lucky to have a majority of my costs covered by making the conscious financial move to spend the pandemic with my mom!
Savings Rate: I also don't know this, but its probably around 30% of my income. I plan on upping this to eventually hit 50% once I resume working full-time.
Investing strategy: I’M LAZY BUT EFFICIENT, so it's all Index funds via Vanguard; Stocks (Equities) 90%:
35% VTSAX [Total Market Index Fund]
25% VTIAX [Total International Stock Index]
15% VGSIX [REIT Index]
10% VGT [Technology Stock]
5% VWO [Emerging Markets Fund]
Bonds: 10% VTAPX [Short-term Inflation Protexted Securities Index]
Your FI/RE Story
FI/RE number: $1.647M at 45.
FI/RE type: Right now, I'd say I’m on Slow FI/RE thanks to my family, otherwise it'd be a regular $66K/year spend :).
Years until FI/RE: 16-17 years; depending on how my business runs, and contingent on many more intangibles (kids? partner? property?)
FI/RE location: No idea, but I want to be close to my mom, so probably in the West Coast of the United States. Knowing me, I will probably hop through countries: Greece, Kerala (India), Washington D.C., Miami, Japan, Costa Rica, Portugal, Colombia, are all on the "live here long term" list! These aren't random spots, I've researched thoroughly.
How did you first hear about FI/RE?
Through Our Rich Journey's YouTube channel. I ADORE Amon and Christina!
Why do you want to reach Financial Independence/Retire Early? What keeps you motivated on this long journey?
So I don't have to grovel to corporations that place a cap on my endless flow of creativity, integrity, and talent!
In what ways have you cut back your spending? In what ways have you started mindfully spending more?
I read Ramit's book [I Will Teach You to Be Rich] and created a Conscious Spending Plan, a List of Wants which I consistently iterate for purchases over $200, Investment Asset Allocation, Sinking Funds in Capital One 360, Track hacking through credit cards. There's too many strategies to name, but the KEY IS IN AUTOMATION AND ORGANIZATION. The yoga teacher in me says: Patience and Gratitude. Money is energy!
What do friends and family have to say when you tell them your plan to achieve FI/RE? Are they supportive?
I don't talk to just anyone about money; I protect my space and disassociate with the haters, so much so that I don't even know who they are. I speak with my IG FI/RE friends and my best friends about this and they're always rooting for me <333.
Are you doing anything to achieve FI/RE faster?
Prolonging my stay with Mummy in LA.... for now! LOL.
What does retiring early (or financial independence) mean to you? What will you do once you FI/RE?
I will help my mom pay off her home, and travel like crazy! More so than I do. Before having children, I will take as many risks as I want and be as uncomfortable with life so I can be FREEEE
FI/RE Advice
Any advice you'd give to someone who wants to pursue FI/RE, especially if it seemed hard or unattainable?
READ THE BOOKS, talk to creators like Catie. Find your tribe for support and check-in with them every month as an affirmation practice.
What is the biggest thing you learned about money on this journey?
People ask me for financial advice, apparently I give off the put-together vibe but personal finance is personal, and I cannot stress that enough. My goals are my own, so unfortunately I am unable to assist them/whomever they may be and simply share what I do.
Have you made any money mistakes or learned any lessons on the way that you wish you knew before?
Obsessed with my image at work. People repeat outfits all the time. I've been called out multiple times for being "stylish" and that felt like an insult to me because the undertones were that of "damn, do you ever repeat clothes." Imposter syndrome at its finest! What more can I say.
What are your favorite FI/RE resources that you'd recommend to someone just getting started?
I Will Teach You How to Be Rich, Our Rich Journey on YouTube, The Simple Path to Wealth, for mindset: You are a Badass at Making Money. No masterclasses or 1:1 coaching, that shit didn't work for me. Just read. Immerse yourself. Follow Catie's IG! Shang's! Jannesse's! Delyanne!
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Disclosure: Some links are affiliate links, meaning, at no additional cost to you, I may earn some compensation. All opinions are 100% my own! I truly appreciate you and your support. :)
