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All Time Best F.I.R.E. (Financial Independence Retire Early) Recipe Revealed!

Updated: Jun 4

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Financial Independence Retire Early Recipe


Recently I had a very enlightening conversation with a chef, and discovered why their cakes always win awards?


Applied the same way I discovered a foolproof process for having your cake (achieving our own financial goals in life) Financial Independence Retire Early, and enjoy eating it too.


Conversation with the Chef.


Chef: What is the first thing you need to do when you make a cake?

Me: Get the ingredients?

Chef: No!

Me: Get the recipe?

Chef: No!

Me: Um.... I don’t know, I give up. What do I need to do?

Chef: Decide what type of cake you want to bake, and why?

Me: Doh! (Of course). Was that a trick question?


Chef: Before you start anything else you need to “know what you want to make and why”. Knowing what you want and why, befits your inspiration, edification and examination of all that you’re attempting to create. So before you begin baking a cake or anything you want to create in life, your very first essential ingredient is to know what you want to create & why.


Me: That’s a great lesson for us all.


Chef: Ok what do you need to do next?

Me: Find the best recipe?

Chef: Correct. Then?

Me: Shop to get your ingredients?


Chef: Close. You need to find the best ingredients for your unique environment. See here? I use this special flour and local eggs because the humidity is higher here than other cities. If we don’t use this local flour and eggs our cakes are likely to be less light and fluffy. See it’s the collaboration of both science and art that guarantees an award winning cake.


Me: Really? I never knew that. I thought all flour was flour and eggs were simply eggs. Good to know chef! What’s next?


Chef: You need to add your ingredients in the right order. If you add them in the wrong order your cake batter will become lumpy, or worse the batter separate when baking. You also need to have the right skills and tools. Try beating two dozen eggs with a teaspoon. You’ll spend all day beating, early onset RSI and still have a substandard cake batter.  The same rule applies with your trays, oven, cooling grill and oven mitts etc. Ok what next?


Me: Heat the oven and put in your cake batter?


Chef: Good but there’s more. Oven's often heat unevenly, therefore you need to know where the best place in your oven to bake. Also knowing if your oven fan forced, or conventional makes a big difference to your cakes success. What’s next?


Me: Check it doesn’t burn? The chef rolls eyes!


Chef: The mistake most people make is they keep checking how their cake is going. They open the oven, give it a poke, fiddle with the temperature and often take the cake out earlier than recommended. The result. An average cake! For the best results follow the recommended instructions. If the method says 40 minutes at 350F/177c.Then follow the instructions. A light, fluffy, amazingly delicious cake will be the reward for your patience. 


Applying the chef’s lessons to our own financial goals and Financial Independence Retire Early in the following order for an award winning performance. 


  • Know specifically what you want to achieve and why.

  • Discover the best method from the super stars in the industry. Just like award winning chef's enjoy sharing their recipes freely successful industry leaders are often happy to impart their life lessons to those interested to learn.


  • Use the right financial vehicles specific to your unique situation. Insurance is a cost but it maybe be less costly than self-insuring. A savings plan is good however an investment plan if you have a longer investment term may deliver higher returns.


  • Implement your strategy in the right order. Over borrowing when cash flow is tight is a recipe for financial disaster. Rather than over borrowing and everything going pear shaped, better to first consider establishing a regular savings habit, then an emergency fund, protect your assets, only then consider leveraging your wealth if appropriate and finally focus on paying down debt. 

  • Use the best financial tools and strategies for your needs. Low cost investment managers, nil fee bank accounts, accountability coaching, suitable asset allocation, equites, property, own business, cash. Choose and implement what’s best for you.


  • Finally patience. If by your projections your financial independence time frame will take fifteen years, then stick with it and be patient. Trying to achieve it to fast is like turning the oven up to high. You’ll only risk getting burnt. Counting your investments is good and interesting, however if you it takes over everything else in your life, maybe ask yourself the real reason why you feel the need to check so often? Hint: It’s not the cake!


Let Them Eat Cake!

For those who love good food, or even a embarking on a food safari, head to Melbourne Australia this New Year and join in the celebrations of all things food, music and art at the Let Them Eat Cake Festival.


Otherwise if you are stuck in a funk or you’re lost in a cloud of complexity feel free to contact me. Most often in life we just need someone to talk things through and to lighten our load a little.


This post was written by Me, as such they are my personal views and not financial or general advice.


You should always seek independent financial advice when it comes to choices about your personal finances. This is one area of your life where it’s worth paying for it to be done right.


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