Financial Independence – it’s a term we hear often, but attempting to achieve it is a different story.

So today, let’s discuss the concept of financial independence as well as four practical ways to help you achieve it. Planning for your financial future is crucial, and by implementing these strategies, you can work towards a secure and fulfilling retirement.

Step One: Plan Ahead

During your saving and investing years, it is essential to spend less than you earn, regardless of your income level. Prudent investing, free from emotional decision-making, is key. You also want to take the time to create a comprehensive financial plan and understand how your savings amount translates to an expected portfolio value.

Step Two: Lean on Professional Guidance

Retirement is a significant milestone, and it’s important not to go at it alone. Strategize and plan your retirement day, ensuring you have a clear understanding of the income your portfolio can provide in both up and down markets. Overestimate your needs when planning to ensure you are comfortable with your retirement income.  This is what your financial advisor is for!

Step Three: Preserve Your Wealth

Growing wealth requires different skills than preserving it. Once you stop working, your ability to recover from financial mistakes diminishes. Preservation of wealth requires patience, discipline, and a sound understanding from your financial team of asset allocation and rebalancing.

Step Four: Enjoy it Responsibly

While building your wealth, it is crucial to plan for unexpected events, such as market downturns. Always stick to your long-term plan and avoid making impulsive decisions based on short-term market events. Trust in the science behind your financial plan to achieve self-determination and confidence.

Always remember that we are here to support you on your journey towards financial independence. If you have any questions or would like to discuss your financial goals further, please do not hesitate to contact us.


Securities and advisory services offered through LPL Financial, A Registered Investment Advisor. Member FINRA/SIPC.
Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss.​
No investment strategy, including asset allocation, assures a profit or protects against loss.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.