As we have reviewed in the previous 5 articles (each one focussing on each type of the 5 most common lifestyle changes), you now have an excellent vision of the options in front of you, if you are considering a lifestyle change.
One interesting point to note is that it’s possible to combine these 5 lifestyle changes over time. There are many combinations possible.
For example:
- Someone who takes a pause in their professional life to launch that long dreamed about project may find that his/her project could be a viable business, and this ends up becoming the ultimate income activity for that person.
- Someone could take early retirement and find that they miss the social aspects of working too much and look to take on part-time work (perhaps on a temporary basis) in order to help prepare the longer-term transition into full-time retirement.
- A very logical transition would be to move to part-time work for a period of time before taking retirement or early retirement.
- Undertaking a professional reconversion could lead to the creation of a new business.
I think you get the idea.
My favorite combination of lifestyle changes is the SLOWFI approach. This is where there are many steps leading to an ultimate retirement under financial independence conditions. Starting out by optimizing/maximizing the current income sources for a given period, then migrating to a part-time work situation, allowing for more time to be spent on other things (family, starting a side hustle business, etc) and then ultimately taking retirement (early or otherwise). I firmly believe that more and more people will choose this pathway, electing to decide when they retire, and building their plan overtime to get there while living in a financially independent situation.
So whether it’s a lifestyle change to:
- Undertake a professional reconversion
- Start your own business
- Take an early retirement
- Move to work part-time
- Take a break to launch that project you have always dreamed of
You have plenty of choices in the type of lifestyle change you can make.
I hope you have enjoyed following Vincent and Julie in their quest to change their lifestyles, and I hope that they have been able to inspire you, at least a little bit so you can get started in planning and preparing your lifestyle change.
In any case, for whatever reasons and whatever lifestyle change you are contemplating, I wish you all the best!
I would love to have feedback on your progress and experiences. Feel free to leave your comments below ⬇.
Photo Credit: Photo by Bryan Minear on Unsplash
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