Retirement Resources President and Investment Advisor, Dave Boike continues to discuss the idea of financial independence allowing that there are as many different definitions as there are people who strive for their personal idea of what it means.
Auburn Hills, MI — July 21, 2021— Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy, published a new article on the company website entitled, “What Financial Independence Means,” in which Mr. Boike shares several typical definitions all of which are different.
Boike writes, “Earlier this month, I wrote about establishing a personal Financial Independence Day date as a goal. (If you missed it, you can read it by clicking here Establish Your Personal Financial Independence Day).” He continues adding, “Financial independence is what most people aspire to in their retirement years. Some people achieve financial independence and are able to retire very early in their lives. Others shoot for the typical retirement age in their mid-to-late-60’s or early 70’s.” He goes on to say, “No matter when you want to achieve it, you need to have an idea of what financial independence means to you.”
As Boike points out, “No matter what financial independence means to you, we can help you plan for and work toward that goal. If you haven’t thought about what it means to you yet, I’m providing ideas that others have about it. Maybe some of these definitions will spark some fresh ideas for you.”
According to Boike, “While financial independence is defined differently by different people, it generally means not being dependent on a job or anyone else to meet your expenses and maintain your chosen lifestyle.”
Boike states, “According to some people, financial independence is the status of having enough income to pay one’s living expenses for the rest of one’s life without having to be employed or dependent on others. He elaborates further, “While some claim financial independence is when you save roughly 25 times your annual spending, I’m not big on this formula nor do I think it applies to many people. The idea behind this is that when you achieve this amount your finances will supposedly be independent of your paycheck.”
Read the entire article at LINK HERE
About Dave Boike
Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth. For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College.
For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.
Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning. He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals. As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s and is teaching a class at Oakland Community College.
Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges. He teaches you in this easy to read book how to take the steps necessary to achieve your successful retirement.
Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.