When clients walk through Sally Huynh’s door and say they want to retire early, her immediate response is always: why? It’s the three-letter weapon in her financial advice arsenal guaranteed to get clients thinking about what truly makes them happy. Sometimes, people discover that what they really want is to work fewer days or switch careers rather than exiting the workforce entirely.

Huynh, a private wealth adviser with Shadforth in Brisbane, then urges clients to get really specific about their goals. If semi-retirement or retiring early really is the aim, how much money do you need to derive a passive income that meets your desired lifestyle? In millennial parlance, that’s your financial freedom or financial independence number.