Why I Switched from Hargreaves Lansdown to Vanguard for My ISA

Why Financial Independence Isn’t Just for the Rich—And How You Can Start Today

Let’s clear one thing up right now: financial independence is not a secret club reserved for tech millionaires and early-retired Instagram influencers. If you’ve ever looked at your paycheck, sighed, and wondered if you’ll be working until you’re 82 and sipping lukewarm coffee in a cubicle—this article is for you. Hint: it doesn’t have to be that way.

Hi, I’m Rachel Simmons—personal finance strategist, thrift-store aficionado, and your very real-money-savvy voice of reason. Today, we’re diving deep into the idea that you can start your journey toward financial freedom no matter your income, career path, or current balance in your checking account.

What Is Financial Independence, Really?

Let’s peel away the buzzwords. Financial independence (or “FI” if you’re into acronyms) means you have enough financial resources to support your lifestyle without relying on active employment. Basically: your investments, savings, and passive income streams do the heavy lifting while you live life on your terms—whether that’s teaching yoga on a beach or baking sourdough in your pajamas.

It doesn’t mean quitting your job tomorrow. It means creating a solid, flexible foundation so that if you wanted to walk away from work—or take a sabbatical, shift careers, or stop worrying about money—you could.

Debunking the Myth: “Only Rich People Can Afford FI”

Here’s a truth bomb many won’t tell you: financial independence is less about how much you earn and more about how much you keep. I have clients earning six figures who are drowning in credit card debt and others making $45,000 who are on track to retire in their early 50s.

This happens because of a simple formula:

Savings Rate = Income – Expenses

The magic unfolds when you optimize your lifestyle, slash unnecessary costs, and invest consistently over time. You don’t need a yacht. You need a plan. And you’ll need one that includes the three pillars of financial independence: Spend less. Save more. Invest wisely.

Step-by-Step: Building Your Roadmap to FI

1. Define Your “Enough”

Before you start stockpiling cash, ask yourself: What does financial independence look like to me? Not your sister. Not the Wall Street dude with the Tesla. You.

Do you dream of:

• Working part-time while raising kids?
• Traveling long-term with a modest income?
• Living simply and gardening in your backyard?

Your goals shape your number. Use an FI calculator to estimate how much you’ll need. Typically, you multiply your annual expenses by 25. If you spend $30,000 a year? That’s $750,000. Not exactly billion-dollar-level scary, right?

2. Track Every Penny

If you don’t know where your money’s going, you can’t steer it in the right direction. Use a budgeting app or old-school spreadsheet and track your spending religiously for three months.

Spoiler: You might be shocked at how much goes to “grab-and-go” lunches or random Amazon buys. Once you’ve spotted your money leaks, patch them up and redirect those funds to your future self.

3. Automate, Automate, Automate

If you wait until “later” to save, you’ll still be waiting 10 years from now. Instead, automate savings and investments right after payday. This can mean:

• Setting a recurring transfer to your high-yield savings account
• Contributing to your 401(k) and Roth IRA
• Investing in low-fee index funds monthly via a brokerage account

Treat your future self like your landlord—pay them first, every time.

4. Kill (High-Interest) Debt ASAP

Debt is the anti-superpower to financial independence. Especially the toxic kind: credit cards, payday loans, and personal loans with double-digit interest rates. They keep you locked into the paycheck cycle.

Use methods like:

• Debt Snowball: Pay off smallest balances first
• Debt Avalanche: Pay off highest interest debt first

Whichever you choose, make a plan and attack that debt like you’re Indiana Jones dodging financial boulders.

5. Invest Like a Pro (Without Being One)

You don’t have to understand Wall Street jargon to invest wisely. In fact, keeping it simple is often better. Stick to the fundamentals:

• Use tax-advantaged accounts like Roth IRAs and 401(k)s
• Invest in broad market index funds such as VTSAX or ETFs like VTI
• Keep your fees low and contributions consistent

The key is not timing the market—it’s time in the market. Start early, stay disciplined, and let compound interest do its thing.

Money Mindset: Yes, It’s a Real Thing

Here’s the part no Excel formula tells you: Your financial habits reflect your beliefs about money. If you think you’ll always struggle financially, it becomes a self-fulfilling prophecy.

Flip the script by:

• Reading a mix of practical and inspirational personal finance books
• Listening to podcasts about FI journeys (try “ChooseFI” or “Afford Anything”)
• Joining communities of like-minded individuals—trust me, it helps to not feel alone

Common Objections, Answered

“But my income is too low!”

It’s about percentages more than exact numbers. A person saving 20% of $35,000 is still building wealth. Focus on building a cushion and increasing income through skills or side hustles.

“I’ll start saving when I make more.”

Nope. The habit of saving is more important than the amount. Start with $50 a month. It’ll build momentum and confidence.

“Isn’t FI just for people who hate their jobs?”

Not at all. It’s for people who want options. You can love your job and still want security, freedom, or the ability to say “no” when it matters.

Start Small, Dream Big

Here’s the truth nobody tells you in glossy finance commercials: Pulling yourself toward financial independence is an act of radical self-care. You don’t have to do everything perfectly. You just have to start.

Take one step today: check your spending, open that savings account, or finally learn what an index fund is. Small shifts lead to big transformations.

Still skeptical? I was too, once upon a stressed-out job I hated. Now, I build my life on purpose—not on survival. And you can too. Because financial independence isn’t for the rich. It’s for the ready.

Let’s Talk

If you have questions about your specific financial path, or just want to say hi—I’d love to hear from you. Visit my contact page anytime.

Oh—and don’t forget to learn more about our mission to bring accessible financial education to everyone on our about us page. Let’s do this, together.