In addition to coining the term “Findependence,” I have termed the phrase “Findependence Day” to denote the day in the future when you believe income from all such diverse sources of income would exceed the income you might derive by being fully employed by any one employer. Henceforth, you may choose to continue working under that arrangement but you’ll know that you’re doing so because of personal choice or preference, not because you’re under the gun financially just to make ends meet.
If you’re in the financial services industry, perhaps as a financial advisor, I believe that shifting your clients’ focus from Retirement to Financial Independence will be a refreshing way of revisiting the whole traditional approach to retirement planning, saving and investing. Similarly, if you’re a purveyor of financial products, by adopting Findependence in your marketing message, you’ll differentiate yourself from the crowd, nearly all of whom still cleave to “Retirement” as the point of all this saving and investing effort.
But best of all, if you’re an ordinary person stressed out about the seeming impossibility of saving enough for retirement, shifting the conversation to Financial Independence should go a long way to reducing that stress. Findependence is eminently more achievable and much closer on your timeline than the impossible dream of a luxury retirement in old age.