I want to take a moment to explore an intersection between Executive Coaching and Financial Independence Retire Early (FIRE).
FIRE is a concept to save enough money to retire early. If you're unfamiliar with the
concept, take a look at this timeless article for more in-depth information. The FIRE movement has two parts - Financial Independence (FI), and Retire Early (RE). Some people have chosen to coin Financial Independence Next Endeavor (FINE) because after reaching a point of FI they've found other work that is meaningful, which they enjoy doing day-to-day. People who obtain FI have enough money to cover their expenses so they aren't spending time worrying about paying bills or putting food on the table. This is often referred to as a F*&# You Fund. This allows for a lot of professional flexibility and the option to choose a career that is more suited to a person.
Many people find the FI community because they absolutely hate their jobs and they spend their free time calculating how long it will take them to retire. People often feel stuck in a career they chose at 18 or 22 - because of training or schooling, because the job pays well, because of student loans, or because they have a family to support - and they lack options to move to something they enjoy more. It's that hate for the job that fuels people in the FI community to save and save until the day that they can quit. Ultimately though, that's no way to live. Let's be clear - I love the FI/RE/NE movement and working towards it myself. But living a life you hate is no way to live.
My goal as a coach is to help my clients find a career (or succeed in the one they have!) that supports their professional, financial and personal goals so that they can focus on what really matters - living a balanced and fulfilling life on the way to retirement, so that when it comes time to leave the workforce, retirement sticks. According to Kiplinger, there are 7 key habits that make people successful in retirement: staying healthy, strong social connections, clear sense of purpose, passion for learning, healthy dose of optimism, a practice of gratitude, and pets. If a person is spending all their time working and saving with the goal of retirement, they are missing so many of the things that will make their retirement successful - health, friends, family, community, purpose outside of work and retirement, and gratitude for each day. Without these key tenants, then it's a sure bet that retirement will fail.
This brings me to Executive Coaching. An executive coach is a impartial 3rd party dedicated to helping their clients identify what they value, helping align client's day-to-day actions to those values, and helping clients identify and take action on larger professional goals. An executive coach helps their clients set and stick to goals such as work-life balance, finding time in a busy career to eat well and move, getting a promotion, settling into a leadership role, or planning for retirement. A coach also helps their clients identify places where there are organizational and personal mismatches, such as values, workload, control or community, so that they can proactively fight to reduce burnout. One way this can be achieved is through defining a clear purpose with a "mission statement." If the goal is to be FIRE, then a coach can help a client define the what, where, when, why and how to make it achievable and FUN along the way. This isn't just limited for people who are feeling stuck! Having a plan (backed by your own why) and someone to help you stick to it will make you that much more likely to achieve your goals. You don't have to take the path less traveled alone.
If you're on your way to FI, FIRE or FINE, and want a little help or coaching along the way, don't hesitate to reach out. We can define what you're after and work backwards to build a career that works for your dreams.
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