New forum for 'Financial Independence'?

gallygirl

There are forum for people paying off debt and mortgages, saving and investing in general and into pensions but no 'holistic' forum which encompasses all.

Many users are trying to see the big, overall picture and working to be financially independent, without necessarily wanting to retire immediately. Have the means to pay off their mortgage but are choosing to invest elsewhere. Would like to be able to discuss other financial independent websites and calculators etc. Share their strategies, thoughts, hopes, fears and encourage others.

Is this something that could be considered please? Certainly on the MFW board there are people who would use it.

Thanks.

cazmanian_minx

Great idea, I'd certainly be interested.

Karmacat

I agree with this, I've paid off my mortgage, but I'm sort of squatting on the mfw board, its the widest ranging I could find. I'd like a dedicated sub-board tho.

enjoyyourshoes

To be financially independent you need:-

1. Joined up approach with your 'family unit'
2. Know where you are with your finances (every day) so you rule it. not it ruling you
3. Have a crystal clear objective with your Life: and thus finances ensuring you make that a reality (SMART obj)
4. Don't overspend on anything (use MSE website, strategies on Boards to help chart you way through)
5. Be financially literate, know whats in the market to help you achieve your objectives
6. Don't be frightened of terminology (se Google) and rationalise your attitude towards Risk
7. Be good at Excel !

Alchemilla

I disagree about being good at excel because then for me there would be no hope.

But the board is a great idea.

greent

I think it's a great idea - not something I'm personally looking at right now - but certainly would be interested in it with a view to gearing up to it far more towards the middle/ end of next year

gallygirl

In the meantime we'll just hang out on MFW and annoy each other .

enjoyyourshoes

Alchemilla wrote: »

I disagree about being good at excel because then for me there would be no hope.

But the board is a great idea.

You can undertake Excel training (try local authority lifelong learning)

May reasoning for Excel (!) is:-
everyone's finances are individual and thus require individual approach.
Your dealing with compound interest which can be cumbersome with calc and pen paper
Identifying 'best case' options and 'what if's' can be easily done on Excel but tiresome with calc pen paper.
New scenarios can be dissected and produce informed decision with the assistance of Excel

Excel may seem dry, uninspiring, tedious, boring (it is all of these !) but it can release you from not seeing the options and calculating their value to you as an individual. Thus help you become financially independent.

Former_MSE_Andrea

I love this idea.

Let me chat it over with the rest of the team

Secret_Saving_Squirrel

I would join in. More appropriate for me than the mfw board now although I like it there!

Watty1

I'd join in. Crap with excel but the MFW board has really helped me think through future goals.