It’s not uncommon to spend 30–40 years working before you save enough to fully retire. This doesn’t mean you must spend all that time worrying about money. Small habits and an informed perspective can set you up for the journey of real financial freedom long before you hit full independence.
Gregory Ricks echoes this in his blog Invest Time, Not Just Money: A Mindset Shift for Reaching Your Financial Goals: building financial resilience is less about hitting big milestones early, and more about investing your time and habits steadily.
Here are some signs that you might have reached that point:
1. You Save from Every Paycheck
Having a disciplined savings habit is foundational. Ricks recommends automating at least 1% of each paycheck into a “reserve account”—named to reduce guilt around using it for life’s surprises.
Put it into action: Set up auto-tractions into a reserve account first. Start with any amount—even 1%.
2. You Spend Mindfully, Not Emotionally
You no longer shop to feel better. Setting a budget, resisting impulsive purchases, and rewarding yourself for mindful spending are all great strategies for fighting overconsumption culture. Ricks suggests renaming your emergency fund and using “vision boards” or rewards to build positive financial habits.
Put it into action: Create a small reward budget—celebrate progress instead of splurging to soothe. Prioritize shopping at local businesses for your needs and avoid online shopping when possible.
3. You Dive Into Dips, Not Dread Them
If you’re calm when stock prices fall, you’re thinking long term. Gregory warns against letting anxiety drive decisions—emphasizing time invested outweighs timing the market .
Put it into action: Remind yourself that dips in the market are opportunities—not disasters. Keep communication lines open with your financial advisors to ensure your money is invested in a way that makes you feel confident about your financial future.
4. You Keep It Simple
When you hear about somebody with a brand new car, giant house, or shiny new gadget, you don’t wonder how rich they are. Comparison is the thief of joy, after all – you don’t need to prove to anyone that you’re financially stable with luxury purchases or spending outside of your means.
Put it into action: Maximize your employer match, not your credit card. Identify one area where you’ve felt tempted to spend for the sake of appearances, and set a specific limit or alternative goal (e.g., increasing savings or paying off debt). Remind yourself that financial stability is built through discipline, not display.
5. You Understand Your Money Mindset
As Gregory says, financial resilience begins when you invest time in mindset, not just dollars .
Put it into action: Pause before big decisions. Ask yourself, “Is this driven by fear, guilt, or planning?”
6. You Plan, but Don’t Chase Perfection
Your retirement plans aren’t contingent on beating the market or banking on double-digit returns for your future. You’re cutting costs, building savings, and can describe your investment strategy in 90 seconds or less.
Put it into action: Track your progress monthly. Small gains over time build control and confidence.
Real Freedom Is in Healthy Financial Habits
True financial freedom isn’t about the size of your bank account—it’s about feeling in control:
- You’re consistently saving, even if slowly.
- You’re calm during market fluctuations.
- You choose simple, clear strategies over complexity.
- You understand your own fears and guard against them.
“Instead of running in circles looking for that perfect product, the silver bullet, the unicorn of financial strategies, it’s more important to circle back to the concept of a balanced, asset-diverse portfolio.” – Gregory Ricks, Retirement Deserves a Helpful Hand: A Guide to the Destination You Deserve.
Do you feel financially free? If not, that’s okay. There is no shame in starting on that goal today.
If you would like help planning your path to financial freedom, request a copy of Gregory’s book by emailing info@gregoryricks.com, calling our office at (504) 832-9200, or scheduling a free consultation with our knowledgeable team of advisors.
Additional Resources:
Lustberg, J. (2022, June 28). 7 Reasons To Shop Local And Support Small Businesses. Forbes.
This article is meant to be general and is not investment or financial advice or a recommendation of any kind. Please consult your financial advisor before making financial decisions. For more detailed information, contact, a financial advisor with Gregory Ricks & Associates, Inc. offering investment advisory products and services through AE Wealth Management, LLC. (AEWM) Insurance products are offered through the insurance business Gregory Ricks & Associates, Inc. AEWM does not offer insurance products. The insurance products offered by Gregory Ricks & Associates, Inc. are not subject to Investment Adviser requirements. Firm does not offer tax or legal advice. 3154659 – 7/25