The Purpose Behind Financial Freedom
Do More of What You Love
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I want to share a few stories that have impacted me and emphasize my view and the importance of achieving financial freedom sooner rather than later…
The standard retirement story goes as follows:
Work every day 9-5 and collect a pay check for the time spent on the job. We exchange time for money. We allocate a certain percentage of our salary every month towards our retirement. We do this every day and after 40+ years of working we retire.
Recently a 62 year old co-worker of mine opted to retire. I’m extremely happy for him and slightly jealous. At his virtual celebration he shared some sentiments. He said “the average age of retirees is 67 years old, the average age of death is 78. The average person works 40+ years in order to enjoy 11 years. You never know when your last day is going to be so enjoy every moment you can.”
This really struck me. The point he was making is enjoy life now, don’t wait for retirement because we never know how much time we have left. I 100% agree with this idea and this statement. However, I want to challenge it.
Why do we have to enjoy ourselves while working 40+ years? Why can’t we use alternative investment vehicles, diversify our income and enjoy 40+ years? Why can’t we strive for financial freedom instead of exchanging time for money?
Another story:
I was waiting in an excruciatingly long line at CVS. I overheard a woman speaking to another man as they waited for their Covid shots. The woman said “Guess how old I was when I stopped working? …I was 82.” She was extremely proud of herself. The woman had to be in her late 80’s or early 90’s. She was bragging to the other man about the age she retired.
My first thought was wow this woman was extremely dedicated to her job. I was impressed at first. On second thought my contrarian brain started kicking in. What in the world would possess this woman to choose to work until age 82?
Today our mindset has changed. We have youtubers, influencers, podcasters, e-commerce drop shippers and more who have devised an alternative way of living. We also have success stories of entrepreneurs and tech start ups who build the next big thing and get rich. Millenials are constantly bashed in the media for being lazy and entitled. I think we should consider them innovative.
Many people have discovered alternative methods of “working.” Not everyone accepts the status quo. It is okay not to work until we are 82 years old. We have grown to realize that there is more to life than work.
Final thoughts...
Sitting above the sink in the kitchen at my boyfriend’s parents house is a rock that says “Happy Retirement, Do more of what you Love.”
Financial Freedom is not a hoax or a get rich scheme. Financial Freedom is not just about retirement. In fact, most people don’t retire per say when they achieve financial freedom. They continue to work and run their own business on their time. The purpose of Financial Freedom is to “DO MORE OF WHAT YOU LOVE.”
Don’t wait until you are 62 or 82 to enjoy life and live. Invest in yourself, your future, and seek financial freedom now.
What are your goals? How will you achieve FI quicker? How will you enjoy your life in the present?
Until next time,
Amanda