The Goal is Not Retirement as You Know it!
Throw out the thought of retirement and replace it with the goal of Financial Independence.
For years you may have been saving for or avoiding saving for the not-well-defined state of retirement. But the definition of retirement as Webster describes it and how we know it is outdated. “Retirement - withdrawal from one's position or occupation or active working life”. However, consider this, when someone retires they are financially independent. Moving forward to the point in time when you become financially independent from 60 years old to 50 years old could mean so many more active years to spend with your kids or loved ones. Now just think if you can move this point in time from 50 to 40!
Being financially independent allows for a life with far less money stress and can provide the opportunity to focus on your passions. But what are the habits that lead one to a financially independent life in the first place?
Healthy Money Story - What is a money story? A money story is your beliefs about what money is and how it affects your life. This story is shaped by life experiences: childhood, parental struggle or success with money, experiences with debt, and how to define success. So it does not matter if you have millions in the bank or not, if you don’t have a healthy money mindset you will burn through the millions in a matter of years.
A financially fit person takes time to set clear goals that serve their life; not their parents' life, not a goal to serve their co-workers' opinion of their life, and not a rat race to live up to society's expectations of success. A financially fit person’s money mindset is simple and clear and follows the goals they set up to fund their happiness in life.
Healthy Personal Financial Plan: Financially independent People are not always millionaires, but they do have a personal financial plan (monthly budget) that they live by.
Clear spending plan (budget) that fuels their needs and wants
Solid spending strategies to avoid impulse buys or retail therapy
Live life more sustainably. If you think about it, the less you waste the less harm you give the environment, and the more cost you avoid. Spending less actually helps the environment.
How do these habits compare to yours? Do you have a financial plan in place? If your answer is no, you are right there along with a majority of Americans. But it does not have to be that way. For less than the cost of a gym membership, you can get the personal financial support that funds your future financially independent life!
If you need a change, let’s set up some time to have a free strategy session to evaluate your goals. You may be closer than you think to a financially fit life!
