Retiring to the Beach Can Mean Different Things to Different People!

George Reilly |

August is often a month of vacations to beach resorts near and far. The end of summer is almost within sight and many people want to get some time on the sand and surf before summer turns to fall. Many beachgoers spend part of their vacation wondering if or when they can retire to this desirable place.

There may not be an easy answer for most folks. If you don’t have financial independence after you leave your full-time work (the time formerly known as "retirement") you may very well be like the gentleman on the left out looking for buried treasure to supplement his retirement savings.

But those who have achieved financial independence can live the life of the man on the right. While he may also have a hobby that involves a metal detector it is not an essential part of his retirement planning! But apparently a comfortable chair and cold beverage of choice play key roles….

According to the modern day Oracle of Delphi, also known as Wikipedia, "financial independence is generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities. For financially independent people, their assets generate income that is greater than their expenses."

For once I can’t quibble with Wikipedia over this definition. Like some of the TV commercials from financial service companies say, your retirement should be about doing the things you want to do using the resources hard-earned over a long career.

How can you assess whether you will be more like the man on the left or the right for your beach living dream? Talk to a fee-only hourly financial planner (someone holding the CFP® professional designation has the "gold standard" for planners) about your goals, resources, and timeline. You can develop a cash flow analysis that can help you determine if you can achieve your goal without purchasing a metal detector!

Safe Harbor Financial Advisors, LLC is a fee-only, hourly or project fee financial planning firm serving clients in the Northern Virginia area and the greater Washington, DC metro area from our main office in Historic Occoquan, Virginia. Learn more about Safe Harbor at or by calling us at 703-829-SAFE (7233).