Why You Should Pursue Financial Independence Even If You Don’t Want to Retire EarlyWhen I first learned about financial independence, early retirement was my goal. At the time, I was goning too several hours in a noxious work environment. I was burned out and I couldn’t even imagine a work situation in which I’d feel happy and healthy. Around this time, I actually concluded to take a break from job to deal with some health issues. I’m lucky to have had a decent sized F-You Fund and received payment through my company’s disability insurance, so this career break didn’t set us back financially. I had a place of time to demonstrate on what I really wanted out of my life. During this time, I still believed of early retiree as the absolute goal of financial independence. Because of difficult work situations in the past, I couldn’t fathom being in a situation where I needed to make money and also being happy at the same time. There were two things that happened that made me realize that making money and enjoying your life were not mutually exclusive. First, I moved this blog and realized how substantial I enjoyed it. Blogging is hard work. I expend a important quantity of time and energy each week researching for my next post, writing, promoting our work, and engaging with the personal finance community. While I don’t currently make money from this blog, it is something I’ll explore in the future. Second, I broke to help part-time. Initially, I chose to work part-time because it was what my health could handle. About six months after bringing part-time, I now have time and energy to Pursue passion projects while maintaining my health. I no longer perceive constantly frazzled. Working part-time provides me balance and the ability to work toward location independence. Perhaps not too surprising, I actually enjoy work. Now that I no longer subordinate project with misery, I am plenty less motivated by full early retirement. I now think that the end of fiscal freedom is to build a purposeful and happy life; not to retire early. Even though I don’t fing to retire early, this doesn’t normal I am no longer pursuing pecuniary independence. It’s actually quite the opposite. I am senior elated about our hunting of financial independence because of the complexity of our journey. It’s no longer as simplistic as finding a harmony between work and no work. It’s a journey of self-discovery, dreaming big, working toward goals, re-engineering our life, diving into entrepreneurship, and so much more. I now have a important knowledge of and appreciation for fiscal independence. Too often folks critique pecuniary independence because of its association with early retirement. They reject themselves from the hunting of fiscal independence by saying, “I don’t ever want to retire.” But they miss the position or a very fat point. As we have decoupled financial independence from early retirement, we begin to understand other reasons to Pursue financial independence. 5 Reasons to Pursue Financial IndependenceThere are so many reasons why you should Pursue financial independence even if you don’t want to retire early. 1. Even if You lover Your Job, Things Can Change Unexpectedly Just final year, my mother-in-law was re-diagnosed with cancer. This reminded us that our lives are not guaranteed. This was not the first day that we determined that anything could happen, and we should be prepared. A scarce time ago, I was put off from my job. While I was fortunate to find a job just a few days later, there was no guarantee. Being put off is a same occurrence, especially for those over the childhood of 50. Over 50% of people over the age of fifty are actually pushed out of their long-time careers before they are ready to retire. Of these people, only 10% are capable to discover employment that pays them as well as their preliminary role. Even if you love your job, the company may not be loyal to you when push comes to shove. The first explanation to seek fiscal independence is entirely focused on greater financial security. It’s important to prepare for an unknown future. There’s a wide range of celebration that fiscal independence for which helps you prepare. This includes: A dangerous ailment or disability to you or a family member that preclude you from working A change in management or leadership at your employer, making it difficult unbearable to go to work Your company going out of business or needing to downsize, leaving you unemployed In life, person check change in an instant. It’s important for us to have financial security if things in our life don’t turn out as planned. 2. management How You utilize Your Time Pursuing fiscal independence is not just about preparing for the worst. It’s also about taking control of your life and how you use your time. As we attain elder fiscal freedom on our journey, we have more freedom to choose how we spend our time. I’ve taken a very intentional step of working part-time, but there are other popular paths. Others may choose to take summers off. Some opt for a career break or mini-retirement. It’s also potential to continue with full-time employment, but feel empowered to say no to things that you don’t want to do or would require you to work more hours. If you are financially stable enough to not need the job (even if in the long-term you’d need to find another one), it provides you with a lot of confidence to set boundaries to preserve your time and energy. When you have the freedom to decide how you want to use your time, you can focus on activities that energize and engage you, rather than just doing things to pay the bills. Instead of focusing all of my time on work (preparing for work, working, de-stressing, etc.), I get to spend a lot of my time on things I enjoy, such as writing, reading, spending time with friends, travel, etc. With a more balanced life, you could choose to spend more time with your family and friends, focus on projects you are interested in, volunteer for a cause you believe in, or even choose to work at a lower paying job that might provide you with more meaning and/or work-life balance. 3. project Your ultimate Life Not only do you have the time to do things that you enjoy, but financial freedom also provides you with the ability to envision and design your ideal life. While we haven’t continued pecuniary freedom yet, the pursuit of it has opened my eyes to dreaming big. We’re working toward designing our ideal life. I lover being strong to visualize what I want in the future, knowing that I could actually make it happen. Within a few years, we could be location independent, choose to be nomadic travelers for a short-time, or spend a few months a year traveling the world. A couple of years ago, I would have thought about this and become depressed because I thought it wasn’t possible. When you are fulfiling fiscal independence, the fiscal freedom you gain along the way provides you with a much wider array of options. It’s very same to a snowball tumbling down a hill.
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