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By author Morgan Jassen on wieldsilver.com



2020-12-29

wieldsilver.com is about a Path to Financial Independence

The "...Wieldsilver.com First Post" says this blog will be about using interest to pay for vacations, because that represents thriving and prospering.

wieldsilver.com blog is about path to financial independence.

Essentially that is the same thing. If one has interest income flowing in, that is essentially the same as having financial investments that are flowing income.

And if one gets a certain amount of investment income flowing in, then one may reach a state of financial independence.

Financial independence definition:

Specifically, Financial Independence we define as "Non-work income that matches (covers) living expenses ongoing." or "The state when one's passive income equals one's expenses."

Like in:
"Definitions of Financial Independence"
https://wieldsilver.com/2020/blog/2020-13-32-029.html

In other words if I have a huge silver-grams 3,240,000 savings account that flows silver-grams 32,400 interest per year every year (at 1% interest rate, and my yearly living expenses also happen to be exactly silver-grams 32,400 per year every year, then I am maintaining a state of financial independence as long as that state continues like that.

So then in the "First Post" I cute-ified it by saying that I want to get interest income flowing in to pay for yearly vacations. 

Well that is a cute, tiny, version of the same idea really.

If I have investment income like interest or like dividends, that pay for a small vacation, then that's really very similar to the idea of financial independence. In my cute tiny scenario, my interest pays for my yearly vacation. In a scenario of financial independence as defined ^here above, then my interest pays for my entire yearly living expenses. Same idea, larger scale!

So then what's the REAL mission of wieldsilver.com? Well, its just that. Blogging ongoing about a "journey towards financial independence". 

Right now I'm really quite far from a state of financial independence. Where I live, the standard of living is such that people are spending (on average) I'd say somewhere between silver-grams 32,400 to silver-grams 108,000 per year on their living expenses. Thus I'll essentially be blogging about the challenges of trying to get my investment income up to at least silver-grams 32,400 per year. (Right now it's at 0% of that) 



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Silver / US Dollar Spot (XAG=:Exchange)
$26
https://www.cnbc.com/quotes/?symbol=XAG=
1 ounce = 28 gram, therefore:
2020-12-29 now SILVER 1 gram = USD $0.93 (= 1.08g per dollar)
OLD (2020-05-25 now SILVER 1 gram = USD $0.54)
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This blog post first published at https://wieldsilver.com/2020/blog/
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