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8 Ways to Declare Your Financial Freedom When the Clock Strikes 55

By Danielle Howard July 19, 2023 Managing Money

Ladies, isn’t it time to look at how you can create financial freedom in your life? I say, yes!

Hold Tight and Focus on Your Foundational Values

Money is a tool to be used creatively and constructively to build families and communities. Your self-worth is not your net-worth, and defining success beyond your bank account will provide you with true liberty.

Free yourself from the binds of the cultural and media lies that “more is better,” or that “a little more will fulfill me.”

Embrace Giving as a Vital Component of Financial Freedom

I still wrestle with demons of “not having enough,” and probably always will. Material pleasures tease us daily, but research continues to show that happiness is not found in more stuff.

As I move towards giving my time, talent, and treasure creatively, graciously, and extravagantly, it frees me from the grip of materialism.

I encourage you to explore the causes that are important, and create a plan that allows you to give intentionally. Build margin into your resources to give when an unexpected need arises in our families or community.

Find Freedom in Purchasing Soul Needs Instead of the Bondage of Consumptive Ego Desires

Create a spending plan that reflects purpose with your decisions. Talk with your spouse, partner, or friends to get resourceful and creative ideas and to hold each other accountable. Ego desires lead to insatiable overspending. Enjoy the freedom within the safe spending boundaries that you create.

Use Your Home as a Savings Account Not an ATM

If you want to buy a home, save or look at what you can tax efficiently liquidate in order to have a generous down payment. Determine how much house is enough as you look at a mortgage that combined with taxes and insurance is under 25% of your disposable income.

Free yourself of over-leveraged lives that wreak havoc when the economic season shifts. Know how you want to use the equity in your home during the distribution season.

Do you want to downsize and cash out? Is a reverse mortgage appropriate? Do you want to rent rooms as part of a creative income stream?

Reconnect with Your Financial Tools

What do you have? Where is it? How is it working for you or can you make changes with its’ structure in order to do so? Understand the costs associated with your assets and make sure they are titled properly.

Look at beneficiary designations on contractual products such as life insurance, annuities, and IRAs, and make updates where warranted.

Actively Manage and Move to Minimize Debt

We cannot borrow our way to prosperity. We have to establish a plan to pay off any consumer debt that is holding us hostage.

In the fall season of life, you do not want to be paying interest on consumer debt. If you are in your “forever home,” do you want to get it paid off? What action steps do you want to take?

Communicate with Concerned Parties

I know it can feel daunting, but you should actively communicate with those who are a part of, or may be affected by, your financial decisions. Asking questions or seeking understanding involves risk.

Whether it is with family members or your trusted advisors, make sure you feel heard, seek to understand, and feel understood. Facing fears, embracing them, and getting the support necessary will help you unfold into your potential.

As with other liberties, we know it takes sacrifice, discipline, and lots of effort to maintain. What are you willing to do to take an additional step forward with experiencing financial freedom?

Let’s Have a Conversation:

How often do you wonder about your financial stability? Are you financially free? How do you maintain it? What sacrifices do you make? Please share with our community and let’s have a conversation!

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The Author

Danielle Howard is a Certified Financial Planner® (CFP®), author, speaker and financial thought leader. Read her book - Your Financial Revolution – Time to Recognize, Revitalize, and Release Your Financial Power. Visit her at or

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