What is financial freedom?
This blog is 100% about achieving it, but I haven’t spent much time actually defining it.
So, let’s fix that…
For me, financial freedom means having more than enough reliable and repeatable passive income that you can forgo having to work for earned income.
This core element of financial success gives birth to the true definition of financial freedom – being able to do what you want with your time.
Not having someone else pull the strings of your day.
Not having to report to anyone, for anything.
Not being encumbered to any person or any organization.
Marching to the beat of your own drum.
So, if passive income is the mother of financial freedom what is the mother of passive income?
It’s investment capital.
Simply put, investment capital is the amount of money you put aside to invest wisely in the type of assets that produce passive income – stocks, real estate and businesses.
If you’re new to this blog, you may be thinking that financial freedom can’t be that simple. Otherwise everyone would be doing it.
Alas, it is that simple. But no, not everyone does it. Nowhere close to everyone does it.
In fact, the majority do the opposite.
Most take what’s left over from their earned income from a job and use it to buy stuff.
And while “stuff” may look great driving down the freeway, sparkling to wear and represent the most cutting edge designs in kitchens, it’s just that – stuff.
One of the definitions of stuff is this – “used to express indifference toward or rejection of (something).”
Which is ironic.
For all the attention given to acquiring stuff, the vast majority of it winds up in a pile of indifference:
-The expensive designer clothes wind-up in a pile to be taken to goodwill just a few years after purchase.
-The cool car immediately looks dated and is traded-in as soon as the manufacturer comes out with a new year model.
-That kitchen remodel? It’s ripped from the studs and laid bare in a trash heap just a few years later, as what was once new and exciting looks about as new and exciting as bell bottom jeans.
Which underscores the point of today’s essay…
While the 99% spend their earned income desperately pretending to live the life of their dreams, the 1% spend theirs on assets that allow them to actually live the life of their dreams.
Why the 99% do this is one of the great mysteries of our time. It’s a sad spectacle to watch so many struggle financially, especially here in the land of greatest opportunity.
Friends, each of you have the seeds of financial greatness in you.
I’m asked all the time how does someone get ahead? The answers are simple:
Possessing a work ethic.
Having the desire to improve your situation.
Having skills that can be exchanged for income.
How does someone find these rich qualities? It begins by simply knowing that you already possess them. You just need to resurrect them.
What would prevent you from doing that?
Paying attention to the wrong things. Letting yourself get sucked onto a consumerism treadmill. Having someone do your thinking for you. Trying to impress people with your stuff, instead of the size of your bank account.
If you’re tired of struggling financially, make today the day you start building investment capital instead of contributing to your “stuff” pile. Don’t indulge in excuse making. Everyone can save money. It’s a choice. It’s a choice between thinking short term or long term. It’s a choice between keeping up with the Joneses or leaving them behind. It’s a choice between crawling thru life or living the life of your dreams. The financially free life. What choice will you make?
Be free. Nothing else is worth it.
P.S. Why aren’t you wealthy yet? It’s because of something you don’t know. Otherwise you’d already be rich. Isn’t it time to learn what you don’t know? Consider signing-up for my newsletter below, to help you build wealth faster.
P.S.S. Looking to make an overnight fortune? Don’t sign-up to receive my newsletter below. There’s no magic secret. Becoming financially free takes time and dedication. But learning professional-grade money skills can have a life changing effect. If you’re ready to put in the work and learn, I can show you how to achieve financial freedom faster than normal.
P.S.S.S. There’s nothing for sale on this blog or in my newsletter. That’s right. Unlike other sites who claim to help people achieve financial success, I’m not trying to sell you anything. In fact, I find it a little disgusting that some sites insist that you buy something before they teach you how to become rich. Here on my blog and in my newsletter, I just provide actionable advice for free. It’s my way to give back. What do you have to lose? Subscribe today.
Ready for more tips on how to achieve the free life? Check-out more articles from the blog archives below: