A FI

ONCE UPON

By Paul Mollenkopf

A delightful collection of short stories inspired by timeless classics and fables, thoughtfully woven with the core principles of Financial Independence.

Family

Financial freedom for the next generation

I don’t know if you remember this, but when you were around 11 years old, I took you to a play. It was a musical parody of “A Christmas Carol” with the ghosts of past, present and future. Past, present, and future is also a good way to think in terms of your spending and your budget. What percentage of your income do you spend in these three categories?   

You bought your car quite some time ago.  When you make that monthly payment, you’re spending money on a past purchase.  If you plunk down a few bucks for an energy drink and gulp it down on the way to work, you spent that money on a present purchase. Then there’s the future.  This is the percentage of your income that you put into savings, 401K, and other investment vehicles. 

“Normal” Americans spend virtually 100% of their income on past and present, living check to check and having a real problem when an emergency or life change occurs. The weird people who I know and listen to in the FI community spend most of their income (sometimes 60-70%) on their future.  These are people that want to have work be an option within 15 years.

Love,

Dad

The Financial Independence Community

Excerpts from the letter to my daughter that became the inspiration for Once Upon a FI

Wise words from readers

  • I read one story each night, like a bedtime story! My favorite was the re-imagining of A Christmas Carol. I could relate to it since I once got a credit card at 18, and DID NOT use it responsibly! I was haunted by the ghost of purchases past for quite some time. *shiver* I managed to extract some good financial advice, some of which I've never employed. I used to panic when the stock market would slump, checking my investments daily, but as it turns out, the sky really wasn't falling.

    Brian Kenney

  • I wish I had access to this kind of relatable, practical knowledge about money and future planning when I was a teenager. No one ever gave us a crash course in managing finances, avoiding debt, or setting long-term goals. I’m incredibly grateful to have this resource now, not just for myself, but to share with my young adult children. It’s the perfect guide to help them build a foundation for a future of true financial freedom.

    Sara Olson

  • Each story makes it so easy to understand and makes you realize the financial mistakes you’ve made in life and the right things to do. I feel like I’ll always remember these fairy tales in a new way now!

    Tessa Spencer