What Is Your Idea Of Financial Freedom?
Most workers dream of this thing, called financial freedom. This, of course, is similar to what we all want. But have you ever thought about what that means? This can mean different things to different people, so before you waste time searching, you might want to consider what the concept means to you.
It’s much harder to find when you do not know what you are looking for!
Time and money are back connected.
This means that in most cases you can trade for another. And if you are thinking about how this relates to both your daily life and how the business is conducted, it’s true. For example, you can spend your own time cleaning your house or mowing a lawn or paying someone to do it for you and freeing up time for yourself. You can spend time on self-study or pay money for someone else’s specialized knowledge in the same field.
Meaning of Financial Freedom
With this in mind, we can define financial freedom as the point at which we can choose not to trade time for money to get what we want in life. Two key phrases here: “Do not try to trade” and “things that we desire.” These two things are what you need to determine for yourself, to find out the meaning of financial freedom for you personally.
For many people, financial freedom simply means there is no need to work. For them, their goal is to be able to give up “day work” and still have the means to the life in which they want to live. Others may simply want to avoid the stresses associated with their current work. Others may just want to spend more time with their families, but still, want to provide them. For most people, this will be a combination of some or all of them. Some, on the other hand, still want to continue working despite achieving their goal of financial freedom, since “work” is indeed one of their “desires.” For these people, their current work can be so personally rewarded that the level of income they receive becomes irrelevant to them since they are already financially free. Financial freedom for such people means that they can choose to trade their time for money, but do not have to do it.
An important value that should be considered before starting to search for financial freedom is your current and future way of life. If your current lifestyle refers to a “modest” variety, and you want to keep it that way, then if you start from the same level, you are likely to achieve financial freedom somewhat faster than someone who has fewer visions Modest ultimate way of life. To achieve your goals of financial freedom, you need to plan how you are going to do it. Perhaps you will be able to get it for your income, more likely from your own business, from investment income or perhaps from some mixture of the two. If you are taking a business route, you will need to make sure that you are building a business model that will continue to provide you with the necessary income, even if you later decide that you no longer want to trade your time for money. Ultimately, financial freedom is control over your own life and will allow you to make your own choices, rather than let circumstances make them on your behalf.