Enjoy Financial Freedom Before You Are Financially Independent

One of the major goals we often help clients plan for is financial independence. Imagine the freedom of knowing you do not have to work. You would be free to start the company you have always dreamed of, serve an organization you are passionate about regardless of pay or take an extended trip with your family or friends. Maybe you would worry less about money and the minutia of your daily finances.

What if I told you that it is possible to experience some of that same freedom before you are financially independent? Or if you already are financially independent, that you could experience even more freedom than you already enjoy?

A common misconception about financial planning is that its purpose is for you to sacrifice today for a life that may seem like it’s off in the distant future. In reality, good financial planning involves taking steps that allow you to worry less about your finances and have more free time today while feeling confident that you are moving in the direction of achieving your long term life goals.

A few years ago, as a new husband and dad, I can remember the low grade stress associated with the long list of financial items on my family’s to-do list. As Crystal and I worked through our list, I was amazed at the sense of freedom that came from no longer having that nagging feeling that we were missing something, that we hadn’t properly protected our family or that we forgot to pay one of our bills.

Today, I worry about our finances less, have more time to spend with my family and feel confident knowing that we are working towards accomplishing the things that are important to us. And if when life throws something unexpected our way we’ve done the proper planning to ensure that we will be OK.

You can experience that same sense of freedom by accomplishing some of the following financial planning items.

  • Create or update your will and estate plan
  • Organize all your important documents in one place
  • Review the types and amounts of your insurance coverage
  • Set all your bills for automatic payment
  • Consolidate your old IRAs and 401(k)s as much as possible
  • Update the beneficiary information on your life insurance and IRA accounts
  • Delegate the things that can be delegated to a professional

This being the week that we celebrate our nation’s independence, check something off your to-do list and take a step towards financial freedom.

Send me an email if you’d like to see our whole checklist.

Have a great weekend!

Author Geoff Hall

After 23 years of practicing wealth management, multiple bull and bear markets, an internet bubble, a financial crisis and everything else in between, I have come to understand certain truths. The stock market can be volatile and it’s best if you prepare ahead of time. The less you pay in taxes and expenses the more of your money you keep. Outside perspective is a very good thing. Having a good financial plan as your frame of reference goes a long way. Based on these truths, my value proposition is elegantly simple yet profoundly effective… I strive to listen to my clients like they are the only person in the world so that I can best understand what is most important to them. I work diligently to control the things that can be controlled in the investment process like taxes, expenses and market underperformance so my clients can keep more of their hard earned wealth. By creating and continuously monitoring a plan for each of my clients I ensure that they feel confident that they are on track to do more of the things that are most important to them. I offer my clients independent, unbiased advice in a language that they understand. My wife, Crystal, and I have a five year old son, Cooper, and a three year old daughter named Rhodes. When I’m not spending time with them you might find me downtown serving at our church, pushing my limits at an F3 workout or having coffee with a friend in the Five Points area. I have been given the privilege of shepherding my family of clients through the ups and down of the markets and of life for that matter. And for that I am thankful.

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