Create Your Independence

Published August 8, 2017

July is a month where we celebrate our independence, or as I recently heard it called, "Brexit 1776." It’s a month of ice cream, swimming pools, movies, fireworks, relaxation and fun. July is also a great time to reflect on the concept of independence – specifically financial independence.

What does financial independence mean to you?

I frequently hear comments regarding different definitions of financial independence founded in certain milestones such as "Paying my mortgage off," "Being debt-free," or "Having $1 million dollars."

I believe there is a more thoughtful way to approach financial independence.

Each year I see hundreds of different financial situations and as many definitions of what financial independence means. Financial independence in my world, however, is defined by three foundational concepts.

  1. Having enough income for life to pay your expenses in perpetuity.
  2. Making sure your expenses reflect truly how you want to live your life (with no lifestyle creep).
  3. Having a strong legacy plan in place, upon your death or disability, regardless of how long you live or market conditions.

I personally focus on the concept of financial independence because it is more doable than you may realize. It’s really all about controlling the 3 foundational concepts above, in balance.

Do you have a plan for your financial independence?

SMRU 1743914

Meredith C. Moore, Registered Representative, offering securities through NYLIFE Securities LLC, Member FINRA/SIPC, A Licensed Insurance Agency. 1125 Cambridge Square, Suite C, Alpharetta, GA 30009 (770) 587-0281. Financial Adviser offering investment advisory services through Eagle Strategies LLC, A Registered Investment Adviser. Member Agent, The Nautilus Group® a service of New York Life Insurance Company. Moore and Associates Wealth Management is not owned or operated by NYLIFE Securities LLC or its affiliates. Moore and Associates Wealth Management as well as NYLIFE Securities LLC and its affiliates do not provide tax, legal or accounting advice.

Ms. Moore can be reached via email at moore@moorewealthmgmt.com or telephone at (770) 587-0281. Her website address is www.moorewealthmgmt.com.

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