In past years, the outlook for retirement looked something like this: work for 3 or 4 decades, clock weekday hours at the office, put money in a retirement account along the way, then retire in your 60s or 70s.
But younger workers often focus on an optimal work-life balance, and their financial choices reflect more lifestyle design than retirement focus — finding income to enjoy life now, developing alternative income sources, and hoping to transform their lives outside of the traditional 9-to-5. The goal isn't so much early retirement as it is financial independence.
Working into retirement years to enjoy more freedom earlier on isn't for everyone, but it can be one way to get what you want out of life. The key is to figure out what type of lifestyle you want to live and create a plan that allows you to live that lifestyle sooner rather than later. It's a lifestyle plan that millennials have embraced, introducing possibilities and inspiration for those younger and older.
Unlike previous generations that waited until far later in life to spend time outside of the office, Farrington's entrepreneurial prowess gave him the freedom to live as many retired people do: at his home in San Diego with his wife and 2 children, able to travel as he likes.
The many paths to financial independence
It's possible to retire early using an extreme savings approach, like Adeney, or by building a location-independent business like Schroeder-Gardner or Farrington. Thanks to a multitude of remote or freelance economy work options, it's possible to work your own hours, from the comfort of your home or care.