One of the first articles we wrote on SLIGHTLY EDUCATIONAL was about our goal of retiring by age 50. We shared this life goal of ours for a few reasons: 1) it gave us a goal to discuss our investing and budgeting approaches against, 2) it further explored the growing trend of early retirement, and 3) it most importantly was a public declaration of our intentions to retire early to hold ourselves accountable to this lofty goal. Since then, we made many life and financial changes that are now the building blocks to accomplish this goal and I couldn’t be prouder of us for taking these steps.
One thing I didn’t realize when we declared we wanted to retire by 50 was how controversial the topic would be. I have been surprised to find that no matter the reaction to this declaration, it is always met with a passionate opinion. Some have said “hell yes, I want to retire by 50 too” and cheered on this notion. Others have said, “why put an age on the goal when you don’t know where you’ll be by then?” And still, some have asked, “why in the world would you want to retire early…what will you do with your time once retired?”
These are all valid reactions and after really trying to understand everyone’s opinions it became clear that a slight shift in messaging would align these passionate perspectives. The slight grammatical shift is moving our statement of “retiring by 50” to being “financially independent by 50.” Our goal has never been to hit 50 and just become hermits. Our goal has been to achieve financial independence by 50 so we can do the things we want to do, not the things we have to do to pay the bills. Financial independence is obtaining “F**K It money.” This is the point where you have the financial security to leave that soul-sucking job, go on that vacation you’ve been putting off, take private lessons to learn that new hobby, or start your own business.
“Financial independence is obtaining F**k It money”
Reframed in this new light, I think I would struggle to find anyone that would disagree with wanting to achieve this goal. With the messaging of financial independence by 50 solving for varying opinions, let’s explore why this topic is always met with so much ferocity and passion.
Why is Retiring an Emotional Topic?
While I’m not a psychologist, this seems like an easy one to answer. Finances are personal! As humans; shelter, food, and security are among our top needs. In a fiscal-based society, we acquire these needs with money. Beyond that, we have grown up in a culture that has taught us to keep our personal finances secret and not to give others a true view of our financial standing. Finances are also one of our top drivers of stress. Financial pressures are one of the top causes of divorce in America…and if breaking up a marriage isn’t an emotional topic, what is? The personal nature of finances naturally elicits strong emotional reactions anytime someone like us makes lofty financial goals.
While my conversations around this topic initially surprised me, I think we can all agree that everyone wants financial independence and it actually isn’t that surprising that a range of emotional responses was triggered when discussing finances. Our messaging might have shifted to being financially independent by 50, but our approach and drive haven’t changed at all. Set lofty goals, make a plan to accomplish them, and lean on your community and/or partner for support.
Check out additional topics to make personal finance SLIGHTLY EDUCATIONAL on our Personal Finance page.
