Financial Freedom: Why And How Will I Achieve It?

by James on 02/15/2010

Achieving financial freedom is like a beautiful sunset

How does having a billion dollars sound to you? This amount of money would most certainly give anyone financial freedom! Imagine the mansions, the yachts, the exotic cars, clothing, jewelry and vacations all at your finger tips! Well, you and I will probably never have that much. So, just forget about it… okay, so I’m being a little harsh. But, I’m here to tell you that you don’t need to have millions of dollars or even a billion dollars to be financially free. How in the world can we accomplish this?!

What is financial freedom?

To me, financial freedom is not just about having a ton of money in the bank. It is much more than being able to buy whatever you desire. There are two things in life that no amount of money in the world could ever buy more of… one is good health and the second is your time on planet Earth. Financial freedom is about being able to spend your precious time doing exactly what you want to do because you know your bills are going to be paid every month whether you work or play.

Why do I want financial freedom?

1. Health. Everyone wants to be healthy. The majority of us hear people talking about it, we see articles about it and think about it almost on a daily basis. However, very few of us actually do something about it. What are your reasons for not doing everything you can to be a healthier person? Is it your low motivation level? Is it the cost of a gym membership? Or, maybe you don’t know what to do? Since you are reading this article, I am assuming your main reason is that you have no time to juggle exercise and a healthy diet into your already hectic schedule. Right? If you had more time, would this make it easier? For me, the amount of free time I have is directly related to how healthy I can be.

What about reducing your stress? First, you have to know where your stress is coming from. The list could be long, however, I am willing to bet that your finances have something to do with it. Do you worry about being able to pay your monthly bills? How would you feel if you no longer had to worry about this?

2. More free time. I want to wake up each day knowing that I can do exactly what I want to do. My wife and I would love to travel more, spending a month at a time in cities like Rome, Paris, London, Tokyo, etc. Even if we could afford it now, we could never get the time off! How about spending more time with your children? And, how about your hobbies? I’m sure you all have a hobby that you would like to spend more time on.

In a nutshell, I want to have more free time to spend with my family and friends while becoming a healthier person, so that I can live a long and productive life. Financial freedom will give me this opportunity.

How will I achieve financial freedom?

Now to the important part. How in the world can we ditch the job and still keep the money rolling in? Well, we could stop showing up to work and hope no one notices, but since there are only 2 other people in my office, that is not an option for me. A second option is to buy lots of lottery tickets and hope for a miracle. I will say from experience that this hasn’t worked out for me either. The only legal and reliable option to get all of your bills paid each month is to make smart investment choices with your extra money. Extra money, you say? What extra money?! Well, I am not a financial planner but, in order to make this work, you need to have some extra money left over each month. And if you don’t, take a serious look at any possible ways to cut down on your expenses. Not a lot is necessary. However, I will say that the more extra money you have, the quicker you can achieve financial freedom.

So, what investment choices am I talking about? Well, a new car is definitely not one of them. You have to invest your money into assets that are going to generate passive income for you. Passive income is income that you receive without doing any work. This may require some upfront effort, but once setup, you receive money whether you are relaxing with your family, taking a vacation or are in bed sleeping.

Are you ready to get started? Well, I certainly am! Please join me on a journey of a lifetime to become financially free by the age of 40!

Related posts:

  1. 7 Passive Income Sources To Achieve Financial Freedom

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