Neither retiring nor staying at your job: the BaristaFI concept

When we pursue financial independence, it seems that there are only two stages: “I need to work” or “I don’t need to work anymore”. But there are infinite nuances. Depending on your personal situation you can find what best suits you.

We are trying to know about different options to better understand what is possible and make better decisions in the future. One of these options is the BaristaFI concept. Mrs. Lyn and I are more and more considering this option because we think it would fit quite well with our future plans.

The BaristaFI concept

If your investment have positive returns, your savings will reach your FI number in a finite number of years. Even when you are not saving anything. As long as you don’t withdraw money from them.

The catch of course is that a finite number can be 1000 years. But it can also be 10. It all depends on the returns and the difference between current portfolio and your IF number. Therefore, not saving doesn’t always mean that your progress towards FI is stopped if your investments continue to grow.

If you are relatively close to your FI objective and you don’t like your job, you can consider a change. Looking for a lifestyle job.

What do I mean by a lifestyle job?

Jobs that you would be willing to do for practically no salary because you find them attractive, for example, being a barista.

Some examples are working in a winery, an antique shop, a farm, a bakery, a craft workshop, a museum, a hotel, etc. Everyone has theirs so you may not feel identified with these.

Maybe you love skiing so you can work near ski station.

If you just need more time off work, you can change to a part-time job or a job that allows you to have comfortable and flexible schedules.

In return, you accept a salary that allows you to cover your expenses and save very little or nothing. This way your savings are still invested and you don’t need to withdraw money from them.

The holy grail would be to take this job without sacrificing any of your salary.

The closer you are to financial independence, the more effective it is

This change is usually very attractive when you are only a few years away of financial independence. It is a total life change. A job that you love. A more flexible schedule, with less pressure. It is true that it will take you longer to reach FI, but your quality of life improves immensely.

It is one more option to consider depending on your personal circumstances.

When I visited the Jack Daniel’s distillery, I was very struck by the energy and enthusiasm of our tour guide.

At the end of the tour she told us that she was from a town very close to the distillery. She had a job far from there and returned to retire. Since she had a lot of free time, whenever someone was visiting, she took them to the distillery and told them the story herself.

After a while she realized that her dream was not to be retired but to be an official guide of the Jack Daniel’s distillery. He contacted them and ended up getting the job.

What do you think about this concept? Do you plan to do something like that? Do you know anyone who is living the BaristaFI life?

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