This is not financial advice or a sales pitch for lifestyle or financial planning resources. I have nothing to sell. Everyone’s financial path and circumstances are different. This is my path to financial freedom.
My lifetime sources of income and wealth include:
- Non-fixed Income
- Salaries
- Wages
- Tips
- Fixed Income
- Social Security
- Pensions
- Investment Returns
- Dividends
- Interest
- Capital Gains
- Inheritance
I was self sufficient and living on my own at sixteen. For 47 years my income was non-fixed. I either worked full time or part time while attending school. I was mostly employed by others and had a boss. I have little experience with self-employment, property management, real estate speculation, trading financial instruments and other income sources. I have fundamental knowledge and experience in long-term buy-and-hold investing which I began doing in 1987 with passive contributions to deferred compensation plans offered by my employer.
I transitioned from non-fixed income (salary) to fixed income (pension, Social Security) when I retired in 2010 at the age of 63. My employer-managed deferred compensation plans were converted to an actively-managed IRA account. I inherited liquid assets and real estate n 2012. I did not need the money or want the house. The real estate was sold and the entire inheritance was invested in self-manage investment accounts. All my expenses are meet by my pension and Social Security benefits with money left over to add to my investment portfolio. I have never withdrawn any money from my investment portfolio.
I feel fortunate to have had a stable job with a defined benefits pension, deferred compensation plans and Social Security. In other posts, I examine:
- My path to financial freedom.
- Liquidity.
- Influence of my past working life on my present lifestyle.
- Alternate financial paths I might have taken.
- Other financial aspects of my present life style:
