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Financial Autonomy Checklist

⚠️ DISCLAIMER: I am not a financial advisor. This is not financial advice. These are notes on a system. Do your own research.

The Financial Autonomy Checklist

Use this checklist to track your progress toward financial autonomy. Complete each level before moving to the next.

Level 1: Foundation (Weeks 1-4)

Goal: Stop the bleeding, establish basics

Track spending for 30 days — Know where your money goes
List all debts — Balances, interest rates, minimum payments
List all accounts — Checking, savings, retirement, investment
Set up a budget — Any system that works for you (50/30/20, zero-based, envelope)
Automate bill payments — Never pay a late fee again
Check credit report — Free at annualcreditreport.com

Level 2: Stability (Months 1-3)

Goal: Build basic safety net, capture free money

Build $1,000 starter emergency fund — Before aggressive debt payoff
Contribute to 401(k) up to employer match — This is free money
Open high-yield savings account — 4-5% APY instead of 0.01%
Set up automatic savings transfer — Pay yourself first
Review all subscriptions — Cancel unused services
Negotiate one bill — Phone, internet, insurance

Level 3: Debt Freedom (Months 3-24)

Goal: Eliminate high-interest debt

Choose debt payoff method — Avalanche or Snowball
Automate extra debt payments — Beyond minimums
Stop accumulating new debt — Cut up cards if needed
Track payoff progress monthly — Celebrate wins
Pay off all credit card debt — Highest priority
Pay off all consumer debt — Cars, personal loans
Decide on student loans/mortgage — May not need to rush these

Level 4: Security (Months 6-18)

Goal: Full emergency fund, proper protection

Build full emergency fund — 3-6 months of expenses
Review insurance coverage — Health, auto, renters/home
Consider term life insurance — If you have dependents
Consider disability insurance — Protects your income
Write or update will — Basic estate planning
Set up beneficiaries — On all accounts
Secure important documents — Digital backup + physical copies

Level 5: Wealth Building (Year 1+)

Goal: Maximize tax-advantaged investing

Max out HSA — If eligible ($4,150 individual / $8,300 family in 2024)
Max out Roth IRA — $7,000/year (2024)
Increase 401(k) to 15%+ — Work toward max ($23,000 in 2024)
Choose simple investment strategy — Target-date fund or 3-fund portfolio
Automate all contributions — Set and forget
Rebalance annually — Quick portfolio check
Start I-Bond ladder — $10,000/year for inflation protection

Level 6: Acceleration (Year 2+)

Goal: Beyond the basics

Open taxable brokerage — After maxing tax-advantaged
Consider backdoor Roth — If income exceeds limits
Explore mega backdoor Roth — If 401(k) allows
Review career trajectory — Negotiate salary or job hop
Develop additional income stream — Side income or investments
Calculate FI number — 25x annual expenses
Track net worth quarterly — Watch the compound growth

Level 7: Financial Independence (Years 10-25)

Goal: Work becomes optional

Reach 25x expenses invested — The 4% rule target
Stress-test your plan — Model different scenarios
Develop withdrawal strategy — Tax-efficient drawdown
Consider healthcare — Plan for pre-Medicare years
Decide on “one more year” — Or take the leap
Design post-FI life — What will you do with freedom?

Progress Tracker

Level	Status	Target Date	Actual Date
1. Foundation	☐	___	___
2. Stability	☐	___	___
3. Debt Freedom	☐	___	___
4. Security	☐	___	___
5. Wealth Building	☐	___	___
6. Acceleration	☐	___	___
7. Financial Independence	☐	___	___

Quick Reference Numbers (2024)

Account	Limit
401(k) employee contribution	$23,000
401(k) total (with employer)	$69,000
Traditional/Roth IRA	$7,000
HSA (individual)	$4,150
HSA (family)	$8,300
I-Bond purchase	$10,000/year

See also

Emergency Fund — Level 2 & 4 details
Tax-Advantaged Accounts — Level 5 details
Debt Strategies — Level 3 details
Financial Automation — Automate your progress