Financial Independence Losses

We love to talk about what we have gained with financial independence. The list is oft recounted on blog after blog. Some have suggested that we even have gained time, though I doubt that. We have definitely increased our freedom to pursue the deeper meaning in our lives. Released from the money mind meld, we search to build our best selves. These life changing attitudes towards our relationship to work and money are nothing short of breath-taking. They are one of the true benefits of FI. We tend to forget, however, that with all these gains there are also a number financial independence losses.

Although not always negative, these losses are just as profound and life altering as any of the gains. They are the forgotten guide posts on the path of financial freedom.

Money Apathy

If nothing, managing finances adroitly will definitely lead to a change in your relationship with money. Once a large goal of your daily work, the intensity and worry dies down. The tell-tale sign is letting your mint and personal capital accounts go awry. The passwords change or the accounts need updating and you lose the energy to correct them.

This sense of money apathy is the first of many financial independence losses. The ups and downs of your net worth lose meaning in the daily hustle to keep yourself busy. You stop checking your brokerage balance and may even ignore the stock ticker from day-to-day. Market apathy is soon to follow. Once you realize that Mr. Market is a convoluted and schizophrenic bedfellow in the short-term, your interest fades.

Employment Apathy

Not every financially independent person decides to retire early. For many, there is a certain satisfaction in the day-to-day reality of W2 employment. Although the process of downsizing may begin before leaving totally, there are many wealthy people who still take pride in their jobs. This pride spurs them to wake up every morning and manage the commute to the 9 to 5.

The relationship to work, unfortunately, can not remain what it was before. The financial independence losses are no more evident than when viewed under this microscope. No matter how dedicated you may be, it is hard to fight the sense of apathy that comes with financial freedom.

Why stress about work if you no longer need the income? Why lose sleep? The concept of FU money (having enough money to quit at any time) is wonderful but it also has a dark side.

You tend to have less skin in the game.

Dream Apathy

*May you never reach your dreams fully. *

This is one of my favorite sayings even though I get a lot of funny looks when these words role off my lips. Nonetheless, I think there is a certain beauty and sense of belonging that comes with striving. We are most happy when we are making progress in attaining a dream. Not when we actually reach the finish line.

One of the most feared financial independence losses is the loss of purpose. Financial freedom is a big, audacious dream that often feels far out of reach. The danger to reaching one’s goal is forgetting to move the goal post.

Life is about growth. In order to grow we have to dream. Dreams attained need to be replaced with bigger, scarier, more complicated ones.

Final Thoughts

With all the wonderful gains, there are a number of financial independence losses. The biggest stumbling block is apathy. Whether it regards money, employment, or dreams, these pitfalls can be overcome with thought and intention.

Money and employment apathy can be replaced with new dreams and goals. Financial freedom must never be looked at as an end.

It is more appropriately classified as a new beginning.

*Also, I was on the Countdown To Fi podcast this week. Take a listen by clicking on the image below. *