Financial independence is a term that gets tossed around a lot in personal finance, often portrayed as the ultimate goal. But beyond the headlines and marketing buzz, what does it actually mean for the average person? More importantly, how do you begin to carve out your own path toward it? While many people dream of financial freedom, few pause to consider what it truly looks like for them or how to make it a reality.
For me, the progression to financial independence (FI) wasn’t about chasing wealth for its own sake—it was about gaining flexibility and control over how I spent my time. Let me take you through my personal journey toward FI and how living below our means and investing wisely paved the way.
My Journey to FI: Flexibility, Simplicity, and Time Well Spent
Like many, my journey toward financial independence began with a simple realization: money isn’t everything, but it sure makes navigating life easier. I wasn’t looking for excess. I wasn’t dreaming of luxury cars, sprawling mansions, or endless shopping sprees. Nor was I looking for an escape from work. What I wanted, more than anything, was flexibility—the ability to live life on my terms and spend time on the things that matter most, with the people I care about most.
Living Below Our Means
At its core, the true and practical path to FI is about living below your means and investing the difference. Frugality and simplicity aren’t buzzwords; they are guiding principles. Every dollar we save by making intentional choices today brings us closer to our future goals. Every dollar we spend frivolously or impulsively is one less dollar that can grow and compound for the future. That doesn’t mean we sacrifice everything. In fact, we do spend freely—but only on the things that matter most to us: our health, education (both for our children and ourselves), and experiences that fill our lives with meaning.
It’s not about deprivation, but prioritization. Material things? Not a high priority. Instead, we focus on what truly enriches our lives—time with family, time outdoors, and time spent making memories. Every purchase is considered through that lens and this barometer: does this bring us closer to the life we want to live, now and in our future? When we look back, will we say, “That was money well spent”?
Investing Wisely
The accumulation side of FI is simple, but not always easy. It requires discipline—the discipline to save regularly, avoid unnecessary consumer debt and spending, and maintain a long-term perspective. By consistently putting money into sound, low-cost, diversified investments, we’re letting time and compound interest do the heavy lifting. Tax efficiency also plays a critical role in maximizing returns over time. By using tax-advantaged accounts and strategically managing taxable investments, we aim to keep more of what we earn working for us, rather than losing it to unnecessary tax burdens.
When it comes to growing wealth, we’re not swinging for the fences with risky stock tips or trying to time the market. Instead, we focus on steady, reliable “base hits”—consistently contributing to our investment accounts and letting our wealth grow slowly but surely over time.
What FI Means to Us
Ultimately, FI is about having the freedom to design life on our own terms. For me, that includes continuing to work, but on my own terms. I get genuine fulfillment from what I do and have no plans to stop. I don’t see FI as an exit strategy—it’s the ability to focus only on the parts of work that I enjoy most: working with clients I enjoy, helping them work toward their own financial goals, and making a positive impact on their lives.
FI is about building a life where time is spent intentionally, free from unnecessary stress, and aligned with our values. For us, it’s about spending time outdoors with family, nurturing relationships, and making memories that last far beyond any material possessions. Every decision we make now brings us one step closer to that future.
What Does Financial Independence Mean to You?
So what does financial independence look like for you?
Start by imagining your ideal future—not just in financial terms, but in how you want to spend your time, who you want to spend it with, and what matters most to you. What would bring you fulfillment, not just today, but in 10, 20, or 30 years? From there, think of small changes you can make now to align your financial habits with that vision. It’s not about drastic overhauls—it’s about consistent, meaningful progress toward the life you want to live. If you would like some assistance with any of this, feel free to reach out.
About Marcus
Marcus Miller is Wealth Manager and Shareholder at Deerfield Financial Advisors, a fee-only financial services and wealth management firm with offices in Indianapolis and Chicago. His role includes strategic planning, income tax optimization, insurance and estate planning, and investment management for a diverse group of clients. Implementing Deerfield’s unique financial planning approach called WealthwhileSM, Marcus helps clients live their best lives and focus on their most worthwhile passions. He is passionate about helping them pursue, experience, and maintain true financial independence for their families, without the sales pitch. He truly enjoys helping people and developing deep, meaningful relationships with clients.
Prior to joining Deerfield in 2012, Marcus gained valuable experience at a Big Four accounting firm, a nationally recognized brokerage house, and a distinguished independent advisory firm. He holds a Bachelor of Science and Master of Science in Accounting from Ball State University, the Certified Public Accountant and CERTIFIED FINANCIAL PLANNER® designations and is a NAPFA Registered Financial Advisor. Marcus serves on the Board of Happy Hollow Children’s Camp and on the Planned Giving Committee at the Indianapolis Zoo. He is a member of the Professional Advisor Leadership Council at the Central Indiana Community Foundation (CICF) and is involved at his daughters’ school.
Marcus resides in Carmel, IN, with his wife, Andrea, and their two daughters. They love spending time outdoors hiking, bicycling, camping, and traveling to national parks. (They have a goal to visit all 63 national parks; Yosemite is the current favorite.) An avid reader, especially of non-fiction, history, and finance books, Marcus also trains in Brazilian Jiu-Jitsu, likening it to a physical chess match that involves problem-solving and mental strengthening with physical consequences. To learn more about Marcus, connect with him on LinkedIn.
