What's my number? Why financial freedom might be closer than you think

This article was originally published in the Nashville Business Journal on June 1, 2026.

Most people have a number in their head. It's the figure they've quietly decided they need before they can stop worrying, start living on their own terms, or finally feel like they've made it. For many high earners in Nashville, that number is the light at the end of a long tunnel: one more year, one more bonus, one more milestone. The hamster wheel keeps spinning, and the finish line keeps moving.

The problem isn't ambition. It's that the number is almost always wrong, and usually in the direction you'd least expect.

You're probably solving the wrong equation

Here's the version of the question most people ask: How much do I need to have? It sounds right. It's actually the wrong starting point.

The real question is: What does my life actually cost, and can I build a plan that reliably supports that lifestyle for as long as I need it to?

Financial freedom isn't an asset problem. It’s a cash flow problem. When you think about assets, you fixate on a single number on a balance sheet. When you think about cash flow, you start accounting for everything your wealth can generate across your 401(k), your brokerage accounts, your Roth, your real estate, your Social Security, and suddenly the picture looks different. Not because the assets changed, but because you're finally looking at them the right way.

There are actually two risks, and most people only think about one 

The fear that drives most retirement planning is running out of money. That's a real risk. But there's a second risk that rarely gets discussed: spending less than you can sustainably afford, and forgoing the experiences, the generosity, and the quality of life your years of hard work were meant to provide.

These two risks are mirror images of each other. A plan built entirely around avoiding the first will almost certainly guarantee the second. Our job is finding the right balance between them, one that reflects your values, your timeline, and your goals.

A well-constructed plan doesn't simply pick a conservative number and hold it forever. It builds in the flexibility to adapt as markets move, health needs change, and priorities shift. That kind of plan can often support a higher starting spending level precisely because it has a mechanism to adjust if circumstances require it.

The account mix matters more than the total 

Two people can have identical portfolio balances and dramatically different retirements, simply because of how their assets are structured. Someone drawing from a Roth account while carefully timing Social Security will have a very different tax experience than someone pulling entirely from a traditional IRA with a pension layered on top.

This is why the number can't be calculated in gross terms. The after-tax, spendable version of your wealth depends on which accounts you draw from, in what order, and in what amounts. Those decisions compound over decades. Getting them right in year one quietly pays dividends in year fifteen. Getting them wrong does the opposite.

For many high earners, the wealth is spread across a lot of different buckets accumulated over a long career: employer retirement plans, equity compensation, taxable brokerage accounts, real estate, and deferred compensation. Each one carries different tax treatment, different timing considerations, and different rules. The number only becomes real when someone adds it all up correctly.

 So what is the number? 

There isn't one answer. But there is a process, and it's more actionable than most people expect.

It starts with replacing the asset question with the cash flow question. It requires an honest accounting of what your life actually costs, including the things that are easy to undercount like healthcare, one-time expenses, and the lifestyle creep that tends to follow a major financial transition.

It also requires working through the assumptions that most people never stop to question. What tax bracket will you actually be in when you start drawing down? How does market volatility affect a plan that depends on consistent withdrawals? Which accounts do you pull from first, and does that change in year ten? When does it make sense to claim Social Security, and how does that timing ripple through everything else?

These aren't small details. Each one can meaningfully change the number, and none of them can be answered in isolation. That's why the calculation has to happen across your full financial picture, with a team that can model the pieces together rather than one at a time.

For clients who've gone through that process, the most common reaction isn't relief that the number is smaller. It's clarity. They finally have a target that's real, a plan built around it, and a team that keeps the whole thing calibrated as life changes.

That's what it looks like when all three legs of the stool are built together, and pointed at the same goal.

Ready to find your number? Schedule a conversation with our Nashville team at burneywealth.com/nashville.

Important Disclosures

Burney Wealth Management has been a fee-only fiduciary since 1974. We are ranked #4 on the latest CNBC FA 100, and our Nashville office provides tax-centric wealth and investment management to families and professionals across Middle Tennessee. Come see us at 105 West Park Drive, Suite 370, in Brentwood. Learn more at burneywealth.com/nashville.

CNBC’s annual FA 100 ranking was published on 10/1/2025 for the year 2025. The Burney Company did not pay CNBC any compensation for being considered for the list; however, Burney Company does pay a licensing fee to use the CNBC logo in marketing materials. A link to the CNBC selection criteria can be found by going to https://www.cnbc.com/2025/10/01/financial-advisor-100-methodology-2025.html. The CNBC award was given to The Burney Company, which includes portfolio managers associated with Burney Wealth Management and nine other affiliated portfolio managers.

Advisory services are offered through the Burney Company, an investment advisor registered with the U.S. Securities & Exchange Commission. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the advisor has attained a particular level of skill or ability.

The Burney company provides tax preparation and planning services to financial planning clients through Burney Tax Advisors, a separate but affiliated company that employs licensed CPAs. Burney Tax Advisors assists with filing federal and state tax returns for individuals, trusts, and businesses. Tax preparation and planning fees are separate from advisory fees.

Burney Wealth Management has been a fee-only fiduciary since 1974. We are ranked #4 on the latest CNBC FA 100, and our Nashville office provides tax-centric wealth and investment management to families and professionals across Middle Tennessee. Come see us at 105 West Park Drive, Suite 370 in Brentwood. Learn more at burneywealth.com/nashville.

CNBC’s annual FA 100 ranking was published on 10/1/2025 for the year 2025. The Burney Company did not pay CNBC any compensation for being considered for the list; however, Burney Company does pay a licensing fee to use the CNBC logo in marketing materials. A link to the CNBC selection criteria can be found by going to https://www.cnbc.com/2025/10/01/financial-advisor-100-methodology-2025.html. The CNBC award was given to The Burney Company, which includes portfolio managers associated with Burney Wealth Management and nine other affiliated portfolio managers.

Advisory services are offered through the Burney Company, an investment advisor registered with the U.S. Securities & Exchange Commission. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the advisor has attained a particular level of skill or ability.

The Burney company provides tax preparation and planning services to financial planning clients through Burney Tax Advisors, a separate but affiliated company that employs licensed CPAs. Burney Tax Advisors assists with filing federal and state tax returns for individuals, trusts, and businesses. Tax preparation and planning fees are separate from advisory fees.

For more information about our firm and services, please refer to our Form ADV Part 2A or contact us directly.