How to Build Wealth Without Giving Up Your Lifestyle...
Mateo Dellovo
I help high-income professionals manage concentrated stock positions and build tax-efficient strategies that could save hundreds of thousands in retirement. Keep more of what you’ve earned and stop handing it to the IRS.
You’ve probably heard about the FIRE (Financial Independence, Retire Early) movement and its promise of an early, worry-free retirement. It’s a powerful concept, but let’s cut through the noise: much of what you hear about FIRE focuses on cutting down your life to the essentials—sacrificing today’s pleasures to fast-track tomorrow’s freedom. Think strict budgeting, skipping the small joys, and doing without, all to reach that goal as soon as possible.
Now, there’s a part of that approach that works for some people. But let’s be real: if you’ve worked hard to build a high-income career, the idea of denying yourself every comfort just doesn’t add up. You don’t need to live life on the extreme end of frugality to set yourself up for a secure, possibly early retirement. There’s a better way.
The Better Approach to Financial Independence
1. Spend on What Truly Adds Value: The goal isn’t to cut spending to the bone—it’s to spend intentionally. Invest in what genuinely makes your life richer, whether that’s quality time with family, travel, or a car you love. The rest? That’s where you can tighten up without feeling deprived.
2. Invest Consistently and Strategically: It’s not about hoarding every penny but about smart, ongoing investments. Take full advantage of tax-efficient vehicles like 401(k)s, after-tax Roth contributions, and real estate with the potential for cash flow and appreciation. You’re not aiming for deprivation; you’re building a plan that grows your wealth sustainably.
3. Manage Lifestyle Inflation: Here’s where a lot of people slip up. As income rises, so do expenses. You can enjoy the fruits of your labor without letting lifestyle inflation sabotage your future. The key? Be mindful, not restrictive.
4. Ride Market Fluctuations Without Stress: Volatility is part of investing. The problem isn’t the market—it’s reacting without a plan. When your investment strategy is built to handle the ups and downs, you can stay calm and stick to your plan.
Why Extreme Sacrifice Isn’t the Only Way
If you’re convinced that financial independence means depriving yourself now for the sake of tomorrow, you’ll either burn out or resent the process. On the flip side, ignoring the future and spending freely leaves you working longer than you’d like and with fewer choices later on.
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What Does Success Really Look Like?
Picture this: You’re living life on your terms—taking those vacations, enjoying your hobbies, driving the car you want—and you’re still on track for early or comfortable retirement. That’s the balance you’re aiming for. You don’t need to cut life down to the essentials to make this happen. You just need a smart, intentional plan that lets you live well now and later.
Final Takeaway: Don’t fall into the trap of thinking financial independence means cutting out all the good stuff. It’s not about deprivation; it’s about strategy. With the right approach, you can live fully now and build the future you want—without compromise.
Ready to get a financial plan that helps you live well now and set up for the future? Schedule a complimentary, no-obligation wealth strategy call and get a free one-page financial plan customized to your goals.
Disclaimer: This article is for informational purposes only and not financial advice. Consult with a qualified financial advisor for personalized advice.
About the Author: Mateo Dellovo is the founder and Private Wealth Advisor at BFA Wealth Management. He helps high-income professionals and executives reach financial independence and build real wealth without sacrificing their current lifestyle. With a straightforward, strategic approach that prioritizes smart investments, risk management, and tax efficiency, Mateo guides clients to a financial plan that works for today and sets them up for tomorrow.