Finance Friday: Financially Independent, But Not Feeling “Free”

Financial independence isn’t for everyone. That comes as a surprise for most of us within the personal finance community. Whether we like it or not, the “save, invest, and grind” until you can retire early lifestyle isn’t a commonly accepted one. But what happens when your partner is the one who doesn’t agree? What steps can you take to help them see why early retirement is such a crucial piece of your life?

This is just one of the topics we touch on with today’s guest, Mark. Mark is in a great position, and he’s already financially free. But, he doesn’t know what to do next, how to optimize his portfolio, and whether or not he’s making the right moves. With a blend of stocks, bonds, and real estate, Mark has a million-dollar diverse portfolio, but where can he tighten it up? And, if he’s able to do so, how does he get his wife on board?

This episode serves as a reminder that even when all the hard work pays off, there is still a life to live. If you’ve spent years, or decades, grinding to finally reach a comfortable position in life, it’s necessary to know how to use that time once you have it. Do you keep stacking up investments so your children are ensured a comfortable life, or do you take some time for yourself, chase after your own dreams, and live a life you would love to live?

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In This Episode We Cover

• Why cutting down your expenses remains one of the fastest ways to hit financial independence 
• Recalculating your rental property profits and making sure your cash flow is correct
• Turnkey rentals and using them as a low-stress way to quickly build a profitable portfolio 
• Selling off investments to pay for your lifestyle and the risk of doing so
• Combining finances as a couple and how to propose the idea to a not-so-convinced spouse
• Defining your goals and drafting your “vision” that’ll help you make the right steps to achieve ultimate freedom 
• And So Much More!

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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.