Driving to New York a few weeks ago I saw a billboard by Prudential Retirement warning in dire, huge letters : “One In Three People Won’t Retire. They haven’t met you“. It kind of cracked me up because I have Prudential as my present 403B administrator, but plan to roll it over to my Vanguard account as soon as leave my job next month due to their high fees! I hate to lose so much investable money to them! But it also made me incredibly sad to think that 33% of people my age will not be able to retire because they are not financially independent.
It’s not that my main goal of FI is to retire. I want the freedom that being financially independent allows. If I need to stop working in order to be a caretaker for a family member, I have the financial back-up to be able to do so. If I want to spend all of my time volunteering rather than working for income, I can do that. I’m glad I found out about the FIRE movement, and happy to see that the media has picked up on the movement to allow more people to discover FI. Financial independence is not a difficult thing to do, but I think it does take an examination of your life, goals, and dreams- and making strategic decisions to achieve them. Luckily, we have so many free resources through websites, blogs, books and podcast that can help us get there – and motivate us along the way. (Here is a link to my favorite FI Podcasts)
Welcome to the journey. I’m glad that you are in the 2/3 with me!
Any thoughts? Please join the discussion below…