There is a “movement” doing the rounds at the moment, FIRE, “Financial Independence Retire Early”. It’s based on the bestseller “Playing with FIRE” by Scott Rieckens. Scott was so fed up with his life he decided to quit the rat race, cut his expenses in half so that he could live the life of his dreams.
There is absolutely nothing wrong with his strategy although some family members might not be too happy with being uprooted! Not wanting to blow our own trumpet, this is something we have been talking to our clients about for years.
We think Financial Independence Day or “FID” can be summed up in one word – choice.
To choose to continue working rather than slogging away because you haven’t put in place an alternative source of income to replace your salary.
What if you knew that you had enough to stop work at 55 but decided to continue on a reduced hours basis just because you were enjoying it? It’s lifechanging.
- What you would be doing? Too many people retire without thinking about this first.
- What would it cost to have that lifestyle?
- What do you have right now (excluding your home unless you want to downsize)?
- Think about what you are saving now for the future (and we don’t mean the next family holiday!
- Do your numbers add up/can you afford to make more savings without making life too miserable now?
A good day at the office for us is when our clients’ can see a clear picture of what the future looks like and what they need to do to get there.