Following the principles of FI/RE will increase your independence, give you more control and empower you. Even if you are not fully FI or are able to retire, having sufficient wealth that would financially support you for a few months or years puts you in the driving seat.
Evening being on the journey to FI/RE has many benefits:
- More power when negotiating with employers
- Greater ability to move or wait for the ‘right’ job
- Move into a new field/career
- Lower risk when setting up your own business
- Reduce working hours
- Spend some more time volunteering for an important cause to you
- Fewer money worries
Financial Independence, be it the journey or the end-game, is not really about the money itself. Money is just a tool. It’s the enabler that gives you more time, wider choices and greater confidence.
Many people embrace the ‘frugality’ aspect of FI/RE, freeing themselves of the consumerism mentality thrust upon us by 21st century living. Not being controlled by our physical possessions, living in more physical space and living life by your happiness not your personal possessions has huge emotional benefits.