Gomel to NYC: Svetlana’s Fascinating Financial Independence Journey

Gomel to NYC: Svetlana’s Fascinating Financial Independence Journey

When we talk about financial independence, it’s easy to get caught up in numbers and strategies, but behind every success story is a unique journey filled with challenges, resilience, and an unwavering belief in oneself. Svetlana’s story is no different. As a first-generation immigrant from Gomel, Belarus, she not only navigated the complexities of a new country but also carved out a path to financial independence that inspires us all.

The Beginning: From Gomel to New York City

Svetlana’s family immigrated to the United States as Jewish refugees when she was very young. They settled in New York City, a place where dreams are made but rarely handed out. Unlike many of her peers, Svetlana had no financial safety net to fall back on. She attended a small, affordable college in NYC for less than $10k a year, learning the ropes of financial survival on her own.

Financial Situation Before Success: Starting from Scratch

Svetlana’s journey began in modest circumstances—living in a shared NYC apartment with five other people, her bedroom separated by a curtain instead of a door. Despite these challenges, she was determined to build a better life. Before reaching a net worth of $100,000 at age 25, her annual income never exceeded $60,000. Fresh out of college, she started at $15 an hour and negotiated her way to $50,000 a year within months. These early experiences shaped her understanding of money, hard work, and the value of self-advocacy.

The Hustle: Building a Future with Side Gigs and Frugality

From the moment Svetlana got her first job out of college, she knew the traditional 9-to-5 wasn’t for her. She hustled relentlessly, living in a room with a curtain for a door, alongside five or more housemates, for five years. Her frugality and determination allowed her to save up enough money to eventually go freelance full-time.

When the job market shifted in favor of job seekers, Svetlana saw an opportunity. While many were quitting their jobs, she decided to take on a full-time position, capitalizing on the increased demand for workers, doing so at premium rates. This allowed her to not only earn a steady income but also continue side hustling. She never let her gig profiles go stagnant, always keeping them active—a key strategy for maintaining a consistent flow of opportunities.

Obstacles: Overcoming the Challenges of Being a First-Generation Immigrant

As a first-generation immigrant and investor, Svetlana faced numerous challenges. She was the first woman in her family to pursue higher education and the first to navigate the complexities of financial independence. Managing a single income, living alone, and maintaining a freelance lifestyle in NYC were significant hurdles, but they also fueled her determination to succeed.

Financial Goals: Setting Milestones on the Path to FI

Svetlana set clear financial goals to guide her journey:

1. Initial Milestone: Reaching a net worth of $100,000 by age 25. Svetlana knew that the first $100k is often the hardest to achieve, and she made this her primary focus.
2. LeanFI Goal: Reaching her first LeanFI number, which would allow her to emigrate to South America or Eastern Europe. This was her “baby goal,” a step toward greater financial independence.
3. NYC LeanFI Goal: Reaching her second LeanFI number to continue living in her rent-stabilized NYC studio apartment forever. This was her actual goal, ensuring she could maintain her lifestyle in the city she loves.
4. Ambitious Goal: Svetlana’s ultimate goal is to continue earning income from fun, creative projects during her lean FIRE phase. She’s confident this will either modestly supplement her investment income or even allow her to reach traditional or fat FIRE, achieving complete financial freedom.

Current Status: Achieving Milestones and Looking Ahead

Svetlana reached her $100k net worth goal at 25, a milestone that provided her with the financial security she needed to take calculated risks. A significant boost came when she invested a large sum of cash into the market in March 2020, during a period of economic uncertainty.

She has also achieved her initial LeanFIRE goal. While she could leave the U.S. and live in Mexico, she’s not ready to make that move yet. NYC is home, and it offers too many opportunities that she’s not willing to give up. Svetlana is now focused on projects that align with her passions, such as photography, events, and building her creatives on FI(RE) community. If she does decide to leave NYC, she plans to sublet her apartment so she can always return.

Advice from Svetlana: Lessons Learned on the Road to FI

Svetlana’s journey is packed with lessons that are as practical as they are profound. Here’s what she has to share:

1. Have Almost Too Much Self-Belief: The most successful people believe in themselves almost to the point of delusion. When people told Svetlana she couldn’t move back to New York on her own, she proved them wrong by finding a job and a place to live on her first day. When they said she couldn’t freelance and live on her own in NYC, she did it for five years.
2. Take Calculated Risks with a Safety Net: Svetlana emphasizes the importance of taking risks but having a small safety net. A modest amount of savings can open up opportunities that might otherwise seem out of reach.
3. Start Young but Be Patient: It took Svetlana six years to reach her “baby FIRE” goal—one year to save $20k (enough to live alone) and a few more to save $60k (enough to quit a job she hated). The freedom you get from an emergency fund is priceless.
4. Be High Agency: In today’s world, information is ubiquitous and cheap. The key is discernment, which takes time and effort. High agency means taking control of your situation and actively seeking out the best opportunities.
5. Curate Your Social Circle: Surround yourself with people who inspire you and challenge your perceptions of what’s possible. Your social circle and social media feeds should expand your worldview.
6. Live Like No One Else: Svetlana lives by the mantra, “Live like no one else so you can live like no one else.” This means making sacrifices now to enjoy the fruits of your labor later.
7. FIRE is a Spectrum: Svetlana believes in viewing financial independence as a spectrum rather than a fixed number. Read her detailed thoughts here. Life is unpredictable, and flexibility is key. The main benefit of FI is the options it provides, and if you’re resilient, those options are always there.
8. Trust That God’s Not Finished: Svetlana likens life to the stock market—there will be highs and some very painful lows, but over the long term, it trends upward. Whatever God means to you, trust that your journey is far from over.

Conclusion: The Power of Resilience and Self-Belief

Svetlana’s story is a testament to the power of resilience, self-belief, and strategic risk-taking. Her journey from Gomel to financial independence is a reminder that with determination and the right mindset, it’s possible to build a life that not only meets your needs but fulfills your deepest aspirations.