Rachael starts by discussing what financial independence is: being work optional. You’ve built up enough assets that they provide you enough income that you no longer need to work. But what if you like working? You don’t have to have traditional financial goals of completely stopping work at any point. Lauren points out that your feelings about work may change, and you should be ready if that happens. Then, they transition to discussing the FIRE (financial independence retire early) movement. Again, Lauren cautions against assuming a steady state for too long, you may (and probably will) change over time. Lauren asks Rachael how to give ourselves permission to spend now, meaning your life can’t all be about delayed gratification. You need to know what you value and what brings you joy. You need balance on the hustle side as well as the spending side. Don’t forget to check in with yourself regularly: do you enjoy how you’re spending your days? Rachael and Lauren close by discussing goal setting, and Rachael points out that looking at the year as a whole can be intimidating, so she plans quarterly.
If you liked this episode, you’ll also like episode 77: FIRE in your 20’s.
About Rachael:
Rachael Camp is a Certified Financial Planner, a personal finance blogger, and the founder of Camp Wealth - a financial planning firm for high earners and business owners.
Connect with Lauren:
https://twitter.com/AdultingIsEasy
https://www.realadultingiseasy.com/
https://www.instagram.com/adultingiseasyreal/
Connect with Rachael:
https://www.rachaelcampwealth.com/
