Wednesday, June 1 Get Rich Slowly!

The link goes to an article at another blog, "foldedspace," in which the blogger has laid out a combined summary of the best and most-often-referenced financial planning books. What he has to say makes a lot of sense, and it opens my eyes to a world of financial independence that I hadn't thought about before.

I had always thought that financial independence was merely the freedom from debt and the procurement of employment with a paycheck that sustains your way of life (while, of course, providing a bit extra for saving purposes). However, according to this summary of well-respected financial advice, independence is not fully achieved financially until income reaped from investments alone can sustain your way of life.

That's earth-shattering to me, as I thought my wife and I pretty much had "our financial house in order," as they say, already. We certainly do well, but the ability to live entirely off of investments sets a bar that we're quite a ways away from as yet.

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The Geek Code desperately needs updating, but in any case here's mine (as of 2010-02-28):

Version: 3.12
GIT/MU d+(-) s:+>: a C++> ULXB++++$ L+++ M++ w--() !O !V P+ E---
W+++ N o++ K? PS PE++ Y+ PGP t !5 X- R- tv+@ b++ DI++++ D--- e*++
h--- r+++ y+++ G+

If you really care about knowing what that all means, you either know the code already, or you can get it decoded for you here.