Let’s start with the fact that the world we live in revolves around money. Each of us uses it almost every day. Yet, it’s hard to pinpoint exactly where money comes from? In my opinion, it should be as straightforward as the fact that a chicken lays eggs. Unfortunately, the answer in this case isn’t as simple as we might wish. If anyone knows the answer, I would kindly ask for an explanation, for which I thank you in advance.
Now, let’s move on to the question posed by this article:
Why am I striving for Financial Independence (FI)?
I believe that, deep down, we’re all striving for FI, and, to go even further, every one of us will eventually achieve it. Without a doubt, we’ll be financially free when we reach the end of our days. Yes! Death will liberate us 100% from the obligation to pay taxes and all the other financial commitments we have while alive.
The next closest state to financial freedom that comes to mind is retirement. To achieve this, we first need to work for it and, additionally, reach the so-called retirement age, which is increasingly being pushed towards infinity. Governments are forced to make these changes because we are living longer. Unfortunately, the system is set up in such a way that some people will never reach retirement but will instead attain the FI state I mentioned in the previous paragraph.
Even now, some of us experience glimpses of financial freedom. Every day off work, like weekends or official holidays, is a taste of FI. On those days, we literally have free time for which we are paid. Well, maybe not for weekends, but the rest holds true. Maternity leave—or, increasingly, paternity leave—also serves a similar purpose. You could also add to this list benefits for the unemployed, various transitional benefits, and any forms of disability support.
For me personally, the road to financial freedom is about reclaiming my free time and achieving peace of mind. I’m fully aware that I’ll never be younger than I am today and, as a result, I’ll become less competitive in the job market. While my profession currently doesn’t attract many younger people, the future could bring radical changes. In such a scenario, I might need to change jobs, or someone else might offer their services at more competitive rates.
Since I believe I have about 10 good years ahead of me, I’m focusing on building up capital. I invest via an ISA (DISCLAIMER) , which spares me the headache of dealing with tax on my gains.
Investing can act as a financial safety net in the face of unforeseen crises, such as war. Having investments helps protect a portion of my wealth from inflation, economic instability, or a decline in the value of the national currency. It can also provide vital support for my family and offer a greater sense of stability.
Another very important reason for me is to show my children, from a young age, that investing—both in oneself and in the stock market—is essential for securing a stable future. I only wish my parents had this knowledge and instilled it in me when I was younger. Unfortunately, in the country where I was born, socialism was the prevailing system at the time, actively opposing capitalism, so they had no access to such knowledge.
The next reason I invest is to ensure financial security for my family, especially in case of my passing or illness. I want them to maintain at least the standard of living they currently enjoy, without having to worry about financial stability. By building a solid investment portfolio, I can leave behind a legacy that covers daily expenses and any unexpected costs. This way, whether it’s due to my passing or illness, they won’t face financial uncertainty, and I can have peace of mind knowing they are taken care of.
I think that the FI is really achievable. When I think about it, it makes sense. If I can accumulate enough to cover living expenses for a year, then I’m already in a position to retire a year earlier than expected. Once that’s possible, it’s just a matter of building on that foundation—saving more and investing wisely. The more I focus on what’s within my control, the closer I get to financial independence. It’s not an impossible goal, and the more I break it down, the more I see that every step I take brings me closer to a life with more freedom and less financial worry.
Ultimately, my dream is to be free again. By that, I mean not needing to earn money in the traditional sense—selling my time and skills. I want my investments to work hard to support me. Honestly, I’ve had enough of waking up early and constantly rushing. I’ve had enough of coming home late and only catching the scraps of the day. Being exhausted and trying to be present for my children. I want the luxury of taking them to school and spending time with them until the day they no longer want to spend time with me. I want the time and resources to travel and simply to exist.
That’s exactly why I’m striving for financial independence.
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