Financial Independence can mean many things, – and it is a term that is easily floated around in relation to people like Silicon Valleyers that just sold their mediocre app to Microsoft and cashed in 8-digit-something in return, or obscure venture capitalist firms that happens get it right and cash in in the big bucks, right before the ship sails for everyone else. See But why? It’s not like it is that simple?
In the later years, Financial Independence is assumed to be something you will stumble upon with sheer luck. You happened to hit the right thing,right before everyone else did. This is true wether you are investing in companies, or building them. And if you like me, live in a country with very heavy taxation, will have to hand over this independence to the state right away in form of taxation, being left with some bones of the originally earned wealth to gnaw on.
This is not true.
It is possible for anyone to save up enough wealth and live on the returns of them, even in a tax heavy country like Sweden. This blog will be a living testament to how that can be done.
I am a 27-year old Scandinavian with a carefully crafted plan to become financially independent and retire before the age of 35, see the popular blog post The Leprechaun that will never die. As I am currently living in one of the heaviest taxed countries in the world (Sweden), I choose to see this as an additional challenge. After some research I have discovered that there is actually a name for us enthusiastic fools, FIRE. Financially Independent Retire Early, and therefore name myself as the Fire Viking. Disregarding the semi-pretentious sound of this I do find it successfully covering the goal of my plan, so I’ll stick with it.
What am I doing on this blog?
I have found that there is a substantial lack of Scandinavians (Europeans even) out there with financial independence as a sound goal. Sure, the subject will be dabbled over a late night glass of wine, but never concretized and purposefully lived after as a set goal, the way I am aiming to do. Most blogs about the subject are Canadian or American. I believe my strategy to reach financial independence will not differ substantially from any North Americans, but perhaps the reasoning behind will and this is why I have decided to shed some light and insight to my journey.
In addition to above, Scandinavia is also home to the most coherent well-fare states in the world, and thus subject to some heavy taxation. This is not something that will have a major impact of my strategy, and I don’t see very much delay in the time it will take me to save up enough capital to retire, compared to if I would would be doing the same journey from North America. More on this subject to come. Feel free to ask any questions about being a Fire Viking!