This is the point at which the financial plan bears fruit and you can utilise the funds built up to live the life you want to live. This may coincide with retirement or a change from full to part-time working as you are able to cover your living expenses and lifestyle without the need for a full-time salary.
It could also be achieving the correct work life balance through self-employment to create sufficient income for living now and a sustainable excess to save for later life. Everyone’s situation in this regard will be different and it is clarity in this area that makes the financial planning exercise so much more effective.
See the section on life planning for more detail on this part of the process. The practical element to the financial planning process up to this point is all about understanding what you have accumulated to date, how much to commit to savings in the short, medium and long term, reviewing and repeating the process to ensure all things lead to the desired end point of financial freedom.