What is Financial Freedom? I believe it is one’s ability to lead the live they want without worrying about how they will pay for their families basic needs– food, clothing, shelter and education. Everyone probably has their own definition of this, the meta point is that it always comes down to not having to worry about where the next pay check comes back to enjoy one’s journey.
Sometimes I find it unfortunate that economic freedom in this abundant universe is scarce. However, I am also grateful to be living in today’s world compared to the ‘survival of the fittest’ era. We must continue to evolve our system to enable every human to achieve financial freedom.
Financial Independence and Retire Early (FIRE) has picked up steam since the 2008 financial crisis, however my pet peeve with that concept is that it relies too much on frugality and savings. My personal choice is an abundance mindset. While there is no one size fits all for achieving financial freedom one should write down the following
- What does financial freedom mean for you?
- Be as specific as possible (include monthly cash flow requirement, type of work, etc)
- Are you including you and your spouse in this, family, extended family?
- Why is Financial Freedom important to you?
- Be as descriptive as you can be including work, current situation, etc
- What will you do if you had financial freedom?
- Again, be as specific as possible with how you will use spend your time
If you have clarity (or close to it) on the above, it becomes easier to this back to you profession or your passion or the opportunity you want to pursue.