Here’s How You Can Navigate Your Life After Achieving Financial Freedom

Take the case of Aarav (45), who has earned money by exiting ESOPs (Employee Stock Ownership Scheme). He decided to quit his job to spend more time with his family. Within a few months, he began to question his decision. His wife and kids had their own schedule and when they got some quality time together, Aarav was feeling restless about his life. His friends and colleagues were very busy with work and people used to make fun of him for not doing anything. The elder members of the family even called him house husband. All this affected Aarav and he started looking for a job desperately. Life after achieving financial independence was not a good experience for Aarav.

During the working years, one aims to reach financial independence but after achieving that goal, what next? How can you use your money to build a better life? That is the question which needs to be considered. The best way is to evaluate what you can do better in life and at the same time be mentally engaged. At each stage of life, there is a need to set new goals. The same applies to life after financial independence.

In Aarav’s case, I advised him to start by listing all the things he wants to do to make his life better—hobbies, get fitter, read, etc. Remember, you have money and time, you need to give yourself direction and take the first step.

Next, think about how you would like to spend your time. Are hobbies enough or would you like to do something more exciting? Would you rather go back to work or figure out something to keep yourself busy?

It’s always going to be a tussle about what gives satisfaction versus what passes your time. I recently met two relatives at a wedding who have taken different paths. One has bought a farm and spends the morning in the field and the rest of the time in hobbies. The other gentleman has taken up the job and is working as hard as ever. Both are financially independent and are happy with their decision.

The key is to set your goal and stay focused. In Aarav’s case, he decided to use his money to build something new that could improve other people’s lives instead of coming back to a full-time job. He felt it would be worthwhile and he could do things on his own terms. The concept of living life on your own terms and doing what suits you is still very different in India. People around job titles in well-known firms and even if startups are in vogue, unless your firm is in the media, friends, family and former colleagues ridicule your work. Don’t let this bother you. Aarav told me that even after a stellar career and now working on a lot of useful things for people, he often doesn’t feel like anyone. Keep reminding yourself that it is your life that you are improving and that is what matters.

There will be times when things won’t work out and so it’s good to have some other ideas. The gentleman who had gone back to a full-time job had tried consulting work and teaching technical courses at a college, but did not feel respected by the people he was working with. Remember, in the life after financial freedom, you have the potential to walk away if what you are experiencing is not in line with your values.

Life won’t always work out perfectly, but in good times and bad, a core pursuit and a purpose that motivates you daily will improve your happiness and well-being in life after financial independence. Have you thought about what is yours? As we end 2021, think about it as you take stock of your financial life.

Mrin Agarwal is a financial educator and the founder of FinSafe India.