Life is a journey and none of us know when it will end. Photo: AFP 
Life is a journey and none of us know when it will end. Photo: AFP 

If I die today my journey towards financial independence will still be worth it



Sometimes, life, or in this case, death, steps up and smacks you right in the mouth, and yells: “Hey, there's a message you need to learn here." And you have no choice but to pause and, if you’re lucky, reflect and gain some wisdom.

Thanksgiving, 2018 was one of those days for me.  I woke up to a text message telling me that one of my oldest and best friends had died.  He was 35.  There was no warning.

I met Jay when I was 16.  From the first day I met him, I knew I wanted to be friends with him. He was well read and cynical. He had a dark, morbid sense of humour and was deeply insightful about the weaknesses of humanity.  And to me, he was always kind. I loved Jay as much as I’ve ever loved anyone.

He wasn’t perfect though. He had his demons, and the darkness that drove his self-destructive habits often drove people away. My biggest regret for him is that this brilliant, insightful person never got to live up to his potential.  He dropped out of college after one semester and was, for most of his life, a pizza delivery driver.

When he died, he was living with and taking care of his elderly parents, who were both basically bed-ridden with various health issues.  He took care of them when his siblings abandoned them.  He had a generous soul.

And at 35, while getting ready for work, he collapsed and died, probably of an aneurysm. Aneurysms can randomly strike anyone at any time.  Was it because of his lifestyle? Was it genetic? I don’t think we will ever really know.

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To find out about his death on Thanksgiving, a day to feel gratitude for all you have, seemed awful and appropriate at the same time.  My life is significantly poorer for Jay’s loss. But it also made me grateful, grateful that I knew him, that I got 19 years of friendship, that who I am is always going to be partly from my friendship with him. Grateful that I am still alive and grateful that I’ve been able to reach out and seize so many of my own dreams, and that I will continue to do so.

It also reinforced the idea that we need to enjoy the journey, because no destination is assured. This, to me, hits at one of the hearts of the conflict many people feel about the financial independence path and journey.  Many people feel that they have to deprive themselves of happiness now so that they have enough to enjoy the future once they are FI.  They can’t buy the thing now, because they need that money stored up as income-producing assets. In this equation, buying things equals happiness, so if you can’t buy the thing, you’re less happy now, and you've traded that happiness for an uncertain future.

After all, you could die well before you hit FI, then all your “deprivation” would be for nothing.  If the value in your life comes from your material possessions, and the experiences you purchase, this is a very real fear and strong reason not to go along with FI.

But to me, the financial independence journey is not about deprivation. It's not about just buying less stuff so that I'm miserable now, only to have a miserly future (and present). I actually think there's a lot of joy in the journey, and if you're going to be successful at pursuing it, you need to find joy in the process, the everyday frugality of it. You need to see and realise value from the path, not the destination.

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Read more:

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'Happiest Teacher' blogs about saving money in Dubai

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For me, every day that I’m under my spending targets, I get a little boost of joy. My high savings rate gives me so many more options and less stress than if I was living paycheque to paycheque. I am really excited about saving up for a rental property and learning all I can about real estate so that I can be successful in a new area of life.

I love that a life not driven by buying new stuff is far more environmentally sustainable, and probably the only way our planet will remain habitable for human life. I enjoy the extra time I don’t have to spend shopping for new possessions or fixing old ones. I love the lack of attachment I have for material goods that allows me to more easily pack up my life and move to a new country for a new opportunity, as I’ve done six times already.

I love that I don’t need a high salary job, because my needs are low, so I can be a teacher and help kids every day and hopefully make the next generation better than my own. I love the people I've met who are on the FI journey as well, because they're generally fascinating and accomplished and generous. I love that I can help others reach their financial goals because I've educated myself enough that I can bring real value in solving their problems.

All of those are reasons I love the path to FI, and not one of them is really about the goal.  I could die today, and not think of my life as a series of wasted purchasing opportunities. I can be proud of how I live.

Dubai school teacher Zach Holz documents his journey towards financial independence on his personal finance blog The Happiest Teacher

Results:

5pm: Handicap (PA) | Dh80,000 | 1,600 metres

Winner: Dasan Da, Saeed Al Mazrooei (jockey), Helal Al Alawi (trainer)

5.30pm: Maiden (PA) | Dh80,000 | 1,600m

Winner: AF Saabah, Tadhg O’Shea, Ernst Oertel

6pm: Handicap (PA) | Dh80,000 | 1,600m

Winner: Mukaram, Pat Cosgrave, Eric Lemartinel

6.30pm: Handicap (PA) | Dh80,000 | 2,200m

Winner: MH Tawag, Richard Mullen, Elise Jeanne

7pm: Wathba Stallions Cup Handicap (PA) | Dh70,000 | 1,400m

Winner: RB Inferno, Fabrice Veron, Ismail Mohammed

7.30pm: Handicap (TB) | Dh100,000 | 1,600m

Winner: Juthoor, Jim Crowley, Erwan Charpy

McIlroy's recent struggles

Last six stroke-play events (First round score in brackets)

Arnold Palmer Invitational Tied for 4th (74)

The US Masters Tied for 7th (72)

The Players Championship Tied for 35th (73)

US Open Missed the cut (78)

Travellers Championship Tied for 17th (67)

Irish Open Missed the cut (72)

The biog

Family: He is the youngest of five brothers, of whom two are dentists. 

Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.

Where he works: Liberty Dental Clinic 

The biog:

From: Wimbledon, London, UK

Education: Medical doctor

Hobbies: Travelling, meeting new people and cultures 

Favourite animals: All of them 

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

SPECS
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Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months