I am 35 and (nearly) financially independent. This is a thread on how being born to frugal parents, making a few good decisions, and practicing delayed gratification helped me get here despite inefficient asset allocation and sub-optimal investment returns. [1/18]

First things first, what does being financially independent mean. When your assets are sufficient to take care of all the future expenses, you are financially independent. This is not synonymous with being rich or wealthy. Also, the first home is not accounted as assets [2/18]

If this sounds vague, park that thought for a while. In my case, my financial assets are 250 times my monthly expenses implying that an annual return of 4% (post-tax) on my investments would cover the monthly expenses while the capital remains intact.
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So how did I get there? Being born to parents who are cautious with spending money, averse to debt and financially wise certainly set the foundation right. My dad, who is a medical doctor, explained to me the time value of money when I was 6!

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So when I started earning at 21, I was cautious with spending money & saved tiny amounts every month (although didn't invest them wisely). While my savings were limited, I never had to borrow. I did take a car loan when I bought my first car at 28 but closed it in < 1 year [5/18]