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[Video] Financial Independence Day

[Video] Financial Independence Day

STEPHEN SMALENBERGER, EA ®

Independence Day means different things to different people.  To some it means the Declaration of Independence for our country.  To others it’s a favorite movie or even the day they finally retire.

I love to read books, blogs, or articles.  I recently came across the concept of independence defined by the acronym F.I.R.E.

F: Financial

I:  Independence

R: Retire

E: Early

This simply means the ability to have and to make choices.  So to each person this is going to mean something different.  What does Financial Independence mean to you?

It could mean you’re living within your means or you’re debt free now.  To others it may mean having enough in savings whether in investments or cash.

Retire early means something different to everyone too.  It may mean you’re retired. It may mean you’re still working but less.  Maybe you’re able to do your hobbies and earn money from them. Or maybe you’re able to just do what you love which could be a form of working too.  It could also be that you’re able to set your own schedule or volunteer more. It could also be questioning if 65 is even the age you want to retire.

One blog I like to follow, Mr. Money Mustache, says it this way:  “Work is more enjoyable when I don’t need the money.” As much as this is about financial concepts it’s also a philosophy of life.  Think about it for yourself. Why do you work? What do you spend? What does retirement look like?

My encouragement to you is: You have one chance at this.  Are you living on purpose with purpose? If not, what needs to change?

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