Independence (Financial) Day
Every July 4th, my family packs up the car and heads to the beach. It has become a tradition. Whiffle ball, boogie boarding, sandcastles, and fireworks with friends and family are the norm. It is a time to unwind and reflect, and like most traditions, it also carries a deeper meaning.
As the sky lights up in celebration of our nation's independence, I find myself thinking about another kind of freedom. Financial independence doesn’t come with parades or fanfare, but for many of the families I work with, it’s the most liberating kind of freedom there is.
What Does Financial Independence Really Mean?
Financial independence isn’t about being rich. It’s about having options. It means you’ve structured your finances in a way that lets you make decisions based on what matter most in your life, not just what your paycheck allows. It also means you can explore work that inspires you or energizes you.
It’s being able to:
Change careers (or take a break) without financial panic.
Retire on your terms, not someone else’s timeline.
Support your kids, and/or your aging parents.
Say “yes” to meaningful experiences without worrying about the next credit card bill.
A growing number of people are exploring this concept through the FIRE movement (short for Financial Independence, Retire Early). This community of savers and planners emphasizes living below your means, saving aggressively (often 50% or more of income), and investing wisely to exit traditional work decades earlier than the traditional retirement age. While FIRE isn’t for everyone, its core principles, intentionality, and long-term thinking, are valuable to anyone seeking more freedom in life.
Most People Don't Accidentally Become Financially Independent
Just like our country didn’t stumble into independence, most people don’t wake up one day financially free. It takes planning, discipline, and a willingness to say no to some short-term comforts for long-term confidence.
When clients first come to Cascade Wealth, they’re often juggling a lot, college costs, aging parents, busy careers, competing priorities. They’re usually doing well, but they don’t always feel like they’re moving forward. That’s where the real work begins.
Together, we build a roadmap, whether that means maximizing retirement contributions, unwinding concentrated stock positions, planning around RSUs, managing the tax impact of a large windfall, or setting up multi-generational planning strategies. It’s different for every family, but the goal is always the same, to create more options for you and your family down the road.
The Real Return on Investment (ROI): Flexibility and Peace of Mind
One of my favorite memories this year was playing a few holes of golf with my son the day before Father’s Day. He might only remember the ice cream sandwich afterward, but I’ll remember each shot. I was grateful to have the ability to take the time to enjoy this moment.
Financial independence isn’t just about numbers on a page. It’s about flexibility, peace of mind, and the ability to be present with the people who matter most.
We often ask our clients: “If money weren’t an issue, how would you spend your time?” Then we work backward from there.
Some people want to retire early and travel. Others want to launch a new business in their 50s. Still others want to fund education for future generations, donate more to causes they care about, or spend more time volunteering.
Whatever your vision of freedom looks like, the earlier you start planning for it, the more likely it becomes.
A Few Questions to Consider This Summer
As you enjoy your summer traditions, here are a few reflection questions to ask yourself:
Am I on track for the future I want, or just coasting along?
Do I have a clear understanding of where my money goes and how it’s working for me?
What would financial independence look like for me?
Am I making decisions today that align with that vision?
At Cascade Wealth, we help people turn these questions into strategies. It’s not about spreadsheets and market forecasts (though those matter too). It’s about building a life with fewer regrets and more freedom.
Final Thoughts
Our ancestors fought for freedom with grit, sacrifice, and vision. Today, we still need grit, sacrifice, and vision, but the battles look different. They're about resisting the pull of instant gratification, educating ourselves, and making purposeful decisions in a world of constant noise and distractions.
This past Independence Day, I hope you celebrated more than just fireworks. I hope you took a moment to consider your own financial freedom, what it means to you, and what you might do in the second half of the year to move closer to it. If you need a guide to walk that path with you, we are available to help. Schedule a free consultation here
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