The Two Paths After Financial Independence
Two Paths
The road to financial independence, although long and winding, generally leads in one direction. At the beginning there is a goal, a dream. The way forward is obvious. Earn as much as possible. Save a large portion of income. Invest what is left over. One path with a mighty finish line paved in glorious heights of net worth and pastures of lush green freedom. This super-highway is sometimes so long, that only as one reaches the penultimate mile marker does one realize that the end of the road is not an end at all. It’s actually a fork. All of the sudden, bewildered eyes have to adjust to not one but two paths. A difficult decision lies between the traveller and freedom.
The meaning of freedom, however, is actually what disrupts the conclusion of this once straightforward journey.
Now that financial independence is so clearly in view, what does life look like?
The Road Less Taken
When I dreamt of financial independence in the past, my dreams mainly consisted of spending days doing absolutely nothing. Days where I woke up without an alarm clock, had absolutely no schedule, and rejoiced in the lack of structure and demands on my free time.
I imagined that I would write a few hours a day. Work out every morning. Read all those books that were building up on my list. I have never been a fan of video games, but I suspected that I would take up a hobby or two.
Travel was a big part of this choice of the two paths. During the summer, or after the kids go to college, my wife and I were planning to hit the road. We could live in Europe, or Mexico, or Asia in the winter, and return to Chicago in the summer. I could finally check off all those cities and countries that I had only obliquely heard about, yet yearned to explore.
Relationships would consume my time. I would have countless afternoons for coffee with friends. Every night could be Friday night. My wife and I could go on a date whenever we wanted. I could show up to every one of my children’s games and performances.
You know that dad or mom who is always at the school when you go to pick up your children? That could be me! Ok, I could never be that parent.
Spiritual exploration would also interest me. I would finally have time and energy to meditate. I could read the great philosophers. Maybe come closer to understanding my meaning on this earth.
The Passion Play
The second of the two paths is exactly the opposite. What could I do when not restrained by the shackles of making a living? What business could I start? How could I use my experience as a physician and organizational skills as a side hustler to change the world? I get exited just writing about it.
- I could write another book, and this time actually try to get a publisher
- I could start an automated passive income business
- I could build this blog and really try to monetize it
- I could buy and fix up more real estate.
The possibilities are dizzying and the projects endless. Yet alarms shoot up just as fast as the excitement. How different would this be then my current life now? How soon will I be dragged into activities that are less than inspiring? The last thing I want in financial independence is to dreading an upcoming meeting or task.
A Man Divided
I am truly divided on which of the two paths I will take. I know that life is not so absolute. That I could do a little of both. But knowing myself, if I choose the passion play, I will likely go all in.
I am just not one to hold back.
How about you? Will financial independence bring lazy afternoons on the couch or industrious hours of creating something new?
I imagine I’ll do both throughout my retirement.
The first few months I will want to leave pretty unstructured. Do what I want, when I want, how I want. I will want and need some time to decompress.
Eventually I know I’d get bored of it. I will want something more – I’ll need something more to make sure I’m still sharp and active to help keep my mental health in line. I’ve got a long list of things I’d love to do so it shouldn’t be a big concern finding something to work on – if anything it’s likely there will be too much and I’ll have to narrow my focus.
But first, rest.
Rest first is a good idea. But we get restless, don’t we?
Why can’t you have it all? They don’t seem like mutually exclusive pursuits? Especially once you quit the day job…
I think my problem is I tend to not go half way. If I start a new venture, it may become like a job.
Hard for me to sit still. Being financially independent gives me the choice to do what I want with my time. There are times when I’m sitting on the beach on vacation and I think, “Ah, I could do this all day.” However, when I’m in the thick of a project, even though it may be time intensive or stressful at times, I definitely feel alive. So honestly, I don’t see myself ever stopping, but again it’s my choice.
I agree, vacation is great for short periods, but eventually I start wanting to be busy again.
I would definitely do both and build my life around it. Work for a couple months, take a week or two off. Doing nothing full time would drive me nuts.
I think that’s the right balance. Intense work followed by a few weeks vacation.
I’m clearly on the second path, although I’m still working 20 hours a week at the W2 job. And that job has become much more tolerable now that I’m only there 2 days a week. So far I’m slowly building my side-hustle income, but it’s slow going. Doesn’t matter since I enjoy it and don’t really need the money.
You definitely hustle! I think like you, when one activity dies down, another starts up.
I’ve been at that crossroads over and over even though I quit my job 7 years ago. It’s the variety I enjoy. So far what I’ve done is to launch into projects, ideally that have a finish line of say 6 months or a year. Then I might go back in travel or relax mode. Currently I’ve started to blog, but I can’t say I’m a natural writer. It takes too long! And the travel opportunities arrive. The beauty of it all is that they are all good choices. The bittersweet part is that we only live once and have to choose.
When you posted about the thrill of things being gone, it nailed it for me. No matter what the passion, it wanes. It is a great opportunity to be able to sense that and move to the next inspiration. To me, that is the best part of being FI.
Keep moving from inspiration to inspiration. i like it.
I think all in this community have struggled with this, or at least thought about it. Many that went FI quite young got bored and found a hobby that unintentionally became profitable. Others found that passion project that added value to their lives. I would like to find a little of both. Don’t think I will get to visit every pin mark on my map or read every book on my list, but I will enjoy trying to.
Thanks Javier. It’s nice to know that I am not the only one at this juncture. I love how hobbies become accidentally profitable!
One thing I noticed is my friends were all still working so they couldn’t do stuff during work hours! I’m in a rural area and nobody early retires around here, except me. I do have a couple of friends with flexible schedules so I can get up a tennis game most days but if you retire really early you may not be able to find friends to hang out with very easily because they are at work.
Someone I work with, and admire, has more that reached the ability to do nothing; however, he has taken the hybrid approach.
He is an investor in multiple businesses and an active shareholder in each. The key, he’s an active shareholder, not employee.
He outsources the day to day to the teams that he’s built and he uses his organizational skills, leadership skills, and vision to steer the ship.
During the days, he does whatever he wants. He takes a lot of vacations, lives outside the country for weeks at a time, and he’s active in three interesting companies, all in different industries, and all that he founded.
That, to me, is the dream of financial independence.
I think balance is the point. I’m trying to learn how to get involved without going overboard.
We’re still in the “dream” mode, so for better or worse we won’t have to make this decision for quite a while. I’m sure you’ll find the balance that you’re looking for. Like almost everything in life, retirement will probably be best when its wide range of activities are practiced in moderate amounts.
Thanks for your comment. Even in the “dream mode”, don’t forget post Goal planning! It’s the subject of my post for tomorrow.