A professor started pursuing financial independence at 38. A 7-step ladder helped him go from debt to 'lean FI.'
"It's like playing a video game," said one professor about the framework he's using to hit financial independence.
Miguel Marquez, a professor of French and Spanish at a university in Shenzhen, China, embarked on his journey towards financial independence in his late 30s. He employs a seven-step ladder to make this goal feel attainable, starting from debt freedom and ending with Fat FI. The professor reached his first milestone by eliminating debt, following a debt-free lifestyle since completing his undergraduate degree.
Next, he aimed for "F-you money," a savings cushion capable of funding major lifestyle changes without immediate financial worry. Marquez achieved coast FI, where his investments were projected to grow enough to sustain his retirement goals without further contributions. A year later, he attained Flamingo FI, having saved half of his full FI target.
Currently, Marquez resides in Lean FI, a phase where his investments can cover essential expenses with minimal discretionary spending. His portfolio, valued at nearly $400,000, enables him to cover housing, food, and fixed costs with only 30% of his income, aided by the low cost of living in Shenzhen. With his finances now secure, Marquez feels that achieving ordinary financial independence provides him with a life abundant enough without the need for Fat FI. Marquez believes that financial independence is achievable with a clear roadmap and dedication.
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