Fuel your wealth-being journey with FIRE… but don’t stop there

Being financially independent means being able to enjoy your desired lifestyle without having to work to support that lifestyle. The FIRE movement – or Financial Independence, Retire Early – is a paradigm shift that challenges the conventional retirement timeline. The FIRE movement encourages individuals to save aggressively, invest wisely, and reduce expenses to attain financial independence and have the option to retire early. While this is a good practice, at Amida, we encourage our clients to live their life path more broadly, shift their relationship with money, and reimagine traditional approaches to financial well-being. Read more about Our Guidance.

We appreciate the tangible way that The Fioneers suggest five steps to financial independence. With a quick look at the descriptions below, it’s likely you will have a good sense of  where you are: 

1. Debt Freedom: The foundation of financial independence is breaking free from debt. Whether it’s student loans, credit cards, or other financial burdens, eliminating debt sets the stage for building true wealth and financial security. 
2. ‘F You’ Money: This level empowers you with the financial stability to say ‘F You’ to situations that compromise your values or well-being. It’s about gaining control and confidence in making life choices aligned with your principles. 
3. Coast Financial Independence: What you’ve already saved will grow to provide you with a comfortable traditional retirement. 
4. Semi-Retirement: The journey continues with semi-retirement, offering a flexible work-life balance that allows you to pursue passions and interests without being tied to a traditional 9-to-5 job. It’s about crafting a life that aligns with your values and desires. 
5. Full Financial Independence: The pinnacle of the FIRE movement, financial independence, grants you the ability to retire early and live life on your terms. It is the point at which your assets produce enough sustainable income to cover your living expenses. 

How much is enough? And what if financial independence is not limited to only your wealth or income? Could financial independence be about your relationship with money? About releasing the power money has to determine your path in life?  

As we navigate this journey towards financial freedom together, it’s essential to address limiting beliefs about oneself, others, and the world that may impede your progress. Let’s take a sample of some wealth-related beliefs our clients have struggled with.  

On a scale of 0 to 10, how true do each of these statements feel to you? 

• Wanting to make more money is selfish. 
• I’m not talented enough to make $____ a year. 
• People from my background don’t make the kind of money I dream of making. 
• In order to make ___________ a year, I’d have to work so much that I wouldn’t have time for anything else. 
• I’ve never been good with money, and I never will be. 
• It’s not spiritual to make a lot of money. 
• If I earn more than my mom/dad/husband/wife, it will put a strain on our relationship. 

Did you notice that even though you disagree with a particular belief, it resonated with you emotionally? If that happened, that’s an indication that the belief is your emotional truth. 

If your answers were anything other than 0, you believe the statements to some extent. And if you believe them, they are likely to have a detrimental effect on your well-being potential. Read about 5 Habits That Will Make You Feel More Confident. 

“Watch your thoughts, they become words; watch your words, they become actions; watch your actions, they become habits; watch your habits, they become character; watch your character, for it becomes your destiny.” FRANK OUTLAW – Late President of the Bi-Lo Stores

Fuel your wealthbeing journey with FIRE… but don’t stop there. Living a life of wealth is about finding harmony in the five elements of your life. It means taking care of your physical, emotional, and mental well-being, and understanding the role your career, your relationships, your personal growth and your finances play in that. At Amida Wealth, money is only one of five elements to consider, and there is a step beyond financial independence. It’s financial freedom.  

Amida Wealth Family Conversations  

During your upcoming family or friends gathering, consider sharing this blog to inspire those around you to broaden their perspective on wealth. At Amida, we collaborate with young individuals who embark on their wealth journey early, driven by a vision of the possibilities ahead. The key message is clear: a prosperous life is within reach with the right mindset. Advocate for starting early and staying resilient. Encourage those in your circle to cultivate a positive mindset as well – after all, we are all on this journey together! 

Final Thoughts  

At Amida Wealth, our dedication lies in leading you through the transformative path toward financial freedom. Join us as we break free from any limiting beliefs that might be hindering your progress. Together, let’s cultivate a community with a shared focus on attaining financial freedom and embracing a life of abundance. Connect with us. 

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