Stop planning for retirement. Start planning for financial independence.

Tyler Kert
Tamarack Wealth Management

"I'll never retire." I’ve heard that multiple times in the past week. Usually, it's said with a smile. These people can't imagine spending their days sitting on Huntington Beach, watching reruns of The Office, or staring at an empty calendar wondering what to do next. They like solving problems, helping people, and building businesses. To them, retirement sounds less like a reward and more like boredom. I understand where they're coming from. If that's what retirement meant, I probably wouldn't be excited about it either.

I think there is a problem with using the term "retirement" as the underlying goal that people should save, invest, and plan for. Retirement, for many people, isn't really the objective. Financial independence is.

There is a difference. Retirement implies that one day you'll stop working. Financial independence simply means you've reached the point where work becomes optional. It means your financial future no longer depends on waiting for direct deposit to hit every other Friday. Whether you continue working after that is entirely up to you.

Think about it this way. If I could wave a magic wand and guarantee that you would never have to worry about money again, would you continue living exactly as you do today? Some people probably would, and that's perfectly fine. But I think most people would make at least a few changes. Maybe you'd spend your Wednesday mornings taking your grandson to swim practice. Maybe you'd pick up that old guitar that’s been sitting in the corner or book the fishing trip to Alaska you've always talked about. Or maybe you'd keep working because you genuinely love what you do, only on your own terms. 

That's where financial independence becomes so powerful. It doesn't force you to quit your job. It simply gives you the freedom to decide how you want to spend your time. That said, not every profession offers the same level of flexibility. An attorney might stop taking the tough divorce cases and focus only on estate planning. A business owner might pass off the day-to-day operations while still meeting with longtime clients over coffee every Tuesday morning.

Other careers don't provide those options. A fourth-grade teacher can't decide to teach only September through November. A firefighter can't ignore the 2:00 a.m. alarm because it's inconvenient. An ICU nurse can't work only easy shifts. Many careers just don't offer a middle ground. You have to work the schedule the job requires or leave the profession altogether. For people in careers like these, financial independence becomes even more valuable because it creates choices that the job itself cannot.

Almost everyone has something they'd gladly do less of. Maybe it's managing employees, completing paperwork, commuting, or working on the weekend. Maybe it's simply having the freedom to take a month off without worrying about the bills waiting at home. That's what financial planning should accomplish. It shouldn't be about reaching an age where you stop contributing to society. It should be about building enough financial security that you have control over your own time.

In life, plans will change. You might have a parent that suddenly needs care or your company gets bought out by new management. The career you loved at 35 may leave you drained at 55, even if nothing else has changed. Building financial independence prepares you for those changes, whether they come by choice or not. 

As one of the worst offenders, I’m making a conscious effort to stop asking people if they're planning for retirement. Instead, I’m asking if they're planning to become financially independent. The purpose of saving and investing isn't to build a life where you never work again. It's to build a life where money no longer gets to decide what your future looks like. Whether you choose to spend that future opening your coffee shop every morning, teaching high school history because you still love it, or riding the waves in Maui is entirely up to you.  The real goal is not retirement, but the freedom to choose.

This material is for informational purposes only and does not constitute financial, investment, or tax advice. Please consult your tax advisor or financial planner to discuss your specific circumstances before making any decisions. Securities offered through Cetera Wealth Services LLC, Member FINRA/SIPC. Advisory services offered through Cetera Investment Advisers LLC, a registered investment adviser. Cetera is under separate ownership from any other named entity.

Tyler Kert, a financial advisor and CPA, provides financial planning and tax consulting services at Tamarack Wealth Management in Cashmere, WA. 209 Woodring Street, Cashmere, WA 98815. (509) 300-1040.