By Dr. Jim Dahle, WCI Founder

In the financial blogosphere, becoming financially independent and sometimes retiring early seems to have become the end-all-be-all of our financial (and sometimes even non-financial) existence. I think we’re giving it too much credit. Becoming financially independent in the traditional sense isn’t actually going to make you dramatically happier than being almost financially independent. If it does, it likely means you are currently leading a terrible life. Let me explain.

What Is Financial Independence?

First, let’s define financial independence. We’ll do it very simply—it’s when you can live the rest of your life without changing your lifestyle or receiving earned income. Traditionally, using the 4% rule, that means having a portfolio that is something like 25 times what you are actually spending. If you have passive sources of income (Social Security, pension, rental property, etc.), then it’s a portfolio 25 times the difference between

Keep reading this article on The White Coat Investor.