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Hey, I’m Erik, a surfer for 30+ years that has designed a life that allows me to surf as much as I want. Am I completely financially independent? Not yet, but I’m on “mini-retirement” for over a year and it’s epic.
I’ve spent years on my financial independence journey, reading, listening, making successes and failures. I plan to share these with you and my hope is that you’ll share some stories with me and this financial-independence-seeking-surf-community so we can all surf more and lead happy surfy lives.
I know that when I surf, my soul is filled, my energy uplifted and I can share this abundance of joy with the people around me. I have a feeling that you’re the same way.
What is financial independence?
Generally, it means you have enough passive income to cover your expenses. You’re no longer the grom looking for scraps of waves to ride on the inside, you’re at J Bay in the final heat with only one other surfer out and you’ve got priority.
How do you make passive income?
There’s plenty of resources out there that will tell you how. The problem is a lot of it is boring to read so frankly, you don’t. And you stay in the same spot in life, following the masses of workaday grumpy people.
You might have a bunch of stuff but you’re not feeling stoked and don’t have a lot of freedom.
Follow this blog, and I will inspire you to get your sand dollars in order AND enjoy the process just like learning new turns, trying out new boards and heck, feeling good about progressing toward your proness.
What’s the biggest obstacle to financial independence?
It’s you and me. Our creature habits day after day are what lead us to where we are now.
How do we change?
- Education: These are the nuts and bolts of financial wellness that was not taught in school
- Action: It’s up to you to take the steps needed to get to where you want to be
- Community: We all have something to teach each other. Let’s share with our tribe and have fun along the way
How do we stay organized?
This site is setup like so:
- Surfy: The soul of being a surfer
- Mindset
- Fitness
- Travel
- Money: All about mastering your money
- Make – Provide value to others in exchange for money
- Save – Creative ways to keep more of what you earn
- Invest – Passive income comes from passive investments
- Give – Giving is better than receiving
How long does it take to become financially independent?
The single determining factor is your savings rate as a percentage of your take-home pay. At 25%, it takes 32 years. You can do better. At 50%, it takes 17 years. You can do better. At 75%, it takes 7 years. That sounds better. If you have assets of more than $0, that time can be even shorter.
Careful now, don’t sacrifice your life today to start living sometime in the future. Health is wealth that can be achieved more quickly than financial wealth.
Take care of yourself and go for a surf! While you’re out there, look back at the beach front homes that you would love to call your own and ask yourself, “Would I rather be sitting in that home watching people surf, or be the one riding waves?!” Enjoy the moment, knowing that you have the health to surf today.
What do I do with all my savings?
In short, invest it. This blog, and my financial advisor that I’ve since replaced with my own knowledge, recommends index funds.
There are more active ways to invest but this is the least time consuming way to go, freeing up more time to surf.
How much do I need to invest?
If you invest 25 times your annual expenses in index funds, it should last forever, without ever having to work again. But what if there’s something you’re passionate about that can earn some money while still having all the freedom you want? Call it a side-hustle or passion project, this can significantly reduce the amount of money you need to invest while having all the time you want to surf.
What’s next?
Dig in and determine your current income and expenses. Start right now. Commit to action. A set is coming and you’re in position. Eddie would go!
