In What is FIRE? we described the process of achieving financial independence and having the freedom to retire early from work. That’s great, but what are you going to do with all that spare time? You need to have a goal!

“One can find time for everything if one is never in a hurry.”

Mikhail Bulgakov, Heart of a Dog

What Are You Retiring TO?

It’s vital that you understand what you’re retiring TO rather than focussing on what you’re retiring FROM. This is what we mean by ‘have a goal’!

The immediate benefit of this is to give you the focus and determination to achieve the long term savings targets you set yourself. In determining what you are retiring TO you will learn how much money you actually need to afford that lifestyle!

But, more importantly, this process will make you assess what you actually want in life. We discussed this from our perspective in ‘Our Version of FIRE’. It is very easy to follow the ‘normal’ path of life, being so busy with full time work that you struggle to fit in your hobbies. But when you pose the question of what to do if work was optional, you will really discover what motivates you, and the outcome might surprise you!

Your view of the ‘perfect retirement’ will probably change over time, but at least if you start on the right path you’ll open more options as you go!

Our Goal

Our current plans for early retirement were outlined in ‘Our Version of FIRE’ but focus on a few key areas:

• Time with friends and family
• Slow travel
• Food
• Sport
• Music

At the moment, we see ourselves having a base in the UK but spending 1-6 months at a time travelling to different parts of the world. In particular, it will be nice to escape the UK for the gloomy winter months! We really struggle through the winter with the lack of sunlight and dreary weather.

Give it a Trial Run

While it’s all well and good planning out your ‘ideal’ life, how do you know you will actually enjoy it when you get there?!

Our plan is to gradually integrate these plans into our current lives. Not only does this mean we can test the water, but it also means our journey to financial independence will be pretty awesome! As we keep saying, “be present”!

The first step in this process for us will be a month long trip to East Africa this summer. We’re hoping to start a family in the near future so this is a really good time for us to make the most of our freedom and get away from the rat race, albeit temporarily (for now!).

It’s likely that Mr Way will reach FI before Miss Way – we keep our finances separate after all! In this case, it’s likely that Mr Way will take a significant step back at work, or maybe even quit entirely! Miss Way is actually likely to always maintain some form of work. She loves her job and it helps keep structure to her time.

So, long term, it’s likely that Miss Way will pick and choose the best projects to work on while we’re in the UK between travel trips, with Mr Way filling this time with sport and relaxation!

Don’t Have a Goal?

Most people would never even consider questioning how their life would look if work was optional, because it’s so ingrained in their minds. They may ponder the question of:

“What would you do if you won the lottery?”

But their answers to this question would most likely involve spending the winnings on big houses and flash cars etc, meaning they’re still tied to their workplace!

Help Others Discover Freedom

That’s not to say the ‘way to less’ that most FIRE followers desire wouldn’t appeal to the masses. They just aren’t aware that it’s possible, or think you have to live a life of squalor to achieve it! The more people who become exposed to the different way of doing things, the better. If we can introduce even one person to a new way of thinking, this whole blogging journey will feel worthwhile!

We will always be grateful to the likes of MMM, The Escape Artist and Go Curry Cracker! who first opened our eyes to this new way of doing things and started us on this journey!

Do it Your Way!

Having a goal really increases your chances of reaching FIRE as soon as possible. When you have a real, achievable target in mind it’s amazing how creative you can get in order to achieve it!

We would love to hear what your goals are – what’s your way?