Your limbs remain in shackles, you’re a prisoner in your own skin, paralyzed and limited to an inadequate life, as you can’t do the things you want to. So your life quest becomes to do all you can to escape and break free from this virtual prison, and you’re the only one who can help yourself.
This lack of freedom that many face, is financial freedom. To self support yourself and not rely on others. To survive and exist on your own two feet, this without the need to depend on external resources. This could be your parents or government handouts. All while you feel that you’re cursed, a loser, that you can’t make it on your own.
Take a look around you, the world is filled with wealth. What are the secrets to their success. Why are some able to garner a fortune, live lavishly, while others struggle to scratch out a living.
What Is Financial Freedom
It’s the ultimate dream for many, of humanity, the need to find freedom. The freedom of thought, speech, and belief. The freedom of expression. What many dismiss however, is financial freedom.
The definition of financial freedom, is living a well-planned lifestyle, where one is no longer required to work for income, this to cover their expenses.
What financial planning experts wonder is why schools and colleges, don’t teach financial intelligence. What’s taught instead is fiction, history, conjecture, but never a “how to” guide.
What’s taught instead is theory on how to invest in real estate, how to own your own business, along with other money generation and protection methodologies.
Searching For Financial Freedom
Many hunger and aspire to achieve financial freedom. Anyone who has a “job,” who works for an organization without decision making abilities, what management then does is dictates their financial welfare.
You become a victim to the consequences of management failure, which can be beyond their control. These can be external macro factors, such as a poor economy, competition, market environment, government policies, acts of god.
What you the employee then face are the fruits of management blunders, their mistakes, retrenchment, pay cuts, downsizing, or bankruptcy.
Forever The Struggle
What then happens is you start looking for another job. Maybe this time, lady luck will shine on you, and those dark clouds of ill-fate will finally be lifted.
You manage to secure a position with a blue chip company, or perhaps work as a civil servant with an iron rice bowl. In your mind, what you’re saying to yourself is “I’ve finally made it in life.”
After some soul searching, you wonder if you’ve really made it. Your salary may or may not be able to support your daily living expenses. You’re still struggling to pay the mortgage, car loan, student loan, credit card, utility bills that never ends.
The Rigged “Rat Race”
Maybe you’re one of the fortunate ones, who has a job where your paycheck exceeds your current living expenses, and some to save for retirement.
Maybe you’re one of the lucky ones, who earns an executive income working at a top echelon organization. But ask yourself, are you happy.
Are you out of your element and your health fails. Can you stand the merciless office politics. Are you getting stuck in the early morning traffic jams on a daily basis, which seems to never end.
But I Like My Job
It you enjoy your work, then excellent. But how are you growing your money. Are you using the power of compounding, this to accumulate wealth, so that there will be a nest egg once you decide to retire.
It’s up to you, once you grow old tired and creaky, that you’ve reached that financial stage, where you can proudly say, “I did what I loved to do, and I can support myself!”
Beyond Financial Freedom
Financial freedom doesn’t mean being free of debt. Once your passive investment income is able to cover all your expenses, that’s when you’re considered financial free.
This large nest egg passive investment, should also be able to be easily liquidated, if there’s a need to do so. Financial freedom, is where you don’t need to work for money, but the money works for you.
Passive Income Is The Key
Generate passive income by finding, learning, and then putting in the time, effort, and money, into building something, one that creates income consistently, long after you’ve completed the building.
There are a variety of ways to build these money-making machines. It could be investing in the financial markets, a home based business, real estate investing, or home ownership.
The biggest obstacle when it comes to financial freedom, is that not everyone has the skills, experience, the know-how, or the capital to build them.
The key, becomes finding something that suits your ability. You should also be building multiple streams of these “money generating machines.”
How big or how many you build, depends on your desire, effort, capital and risk tolerance level, sprinkled with a bit of luck. The point being, you need to be in control of these decisions that affects your life.
Streams Of Financial Freedom
Your chosen path to financial freedom, also depends on your interest, and the amount of time and money you have.
What’s known for certain is that it takes money to generate money, while what’s also proven is you can create wealth with little money. What many have proven, is that if there’s will, there’s always a way.
If you’re seriously wanting to reach financial freedom, then you need to first eliminate all of the subconscious blocks that you have about generating this money. You need to free your mind to create the wealth you want.