Everyone has different reasons for striving towards financial independence. What I have found is that there are ones that definitely stand out. Here are the top reasons that I have gathered on those seeking FI/RE:
- Without a doubt this was the most popular answer out there! The freedom to do what you want when you want it without having to worry about the almighty dollar. When working a typical 9-5 job, there is a routine of running others’ schedules and deadlines.
- Spend more time with family
- This also another easy one. People sometimes do not realize how little time they have to spend with family and loved ones. We work 8 hours a day, sleep 8 hours a day, and there is very little left for yourself and others. Once you reach financial independence, you can have much more time for everyone else and not worry about making it to the office.
- Reduce stress
- Work is stressful. Worry about money is stressful. Not having enough hours in the day is stressful. Financial independence is a great way to reduce the stress in our lives. Speaking with those who had FI/REd, one of the biggest positives is an immediate alleviation of stress and a healthier life style. There is more time for exercise and a focus on healthy eating.
- Some people are just lazy and there is nothing inherently wrong with that. There are people who simply hate work. They just want to watch TV, play video games, work on hobbies, etc. Everyone has a different view on life and all the power to you if you want to be lazy!
Regardless of your motivation for financial independence or early retirement. It is important to have a goal and a reason for doing what you are doing. FI isn’t for everyone. But if it is right for you, then stay motivated and good luck!
As usual, if you have any questions, Ask the Fellow!