What does Financial Freedom mean to you?
If I were to guess, you would probably describe financial freedom as not having to work unless you want to. At the end of the day, freedom means you are in control of your finances and your life choices. The truth is that many people are frustrated working their tails off, and even more feel boxed in and unsure of their future. Would you not choose an alternative if you could?
Create financial freedom for years to come.
There is no limit to how you can build perpetual wealth-and achieve true financial freedom. Ultimately, financial freedom looks different from person to person, but the important aspect is the freedom and control to do what you want.
If I were to ask you, “What do you think of financially free?”, what would you say?
Here is how I would respond if I were asked the same question: “What does financial freedom mean to me?”. One thing financial freedom means to me is that I get to travel. The next step would be to answer the following question: “Why is that important to me?”.
What is important to you and why.
In my case, I might write that I would like to experience the culture of my ancestors. You would then repeat that same process until you reached the core of what it is that motivates you—what it is that financial freedom really means to you. You are halfway to finding out what your motivation or reason is for seeking financial freedom when you take the time to not only think through this exercise but to write it down as well. Getting to financial freedom is just as much about building wealth as it is about deciding what is most important to you.
Financial freedom is different for everyone.
Many people define financial independence as owning their home and car outright, not owing anyone anything. They think that is a good way to live. Others might say they want assurance that they have a certain amount of income coming in and are not dependant upon anyone so they can travel the world worry-free. Still others might want to fund charities, do mission work, or give money to help others. There are no wrong answers, but we do need a destination. Think about what it means to you to be financially free. Once you know what it means to you, it’s time to calculate how to accomplish it.