A lot of people want to be rich. They want to live in the best, drive in the best and go first class through life.
For a while I was one of those people. I wanted money to buy things. I wanted the expensive stuff. I wanted people to see me and think “money”. Not so much anymore. I have learned that it is better to get money for the purpose of freedom than for the purpose of impressing people.
This is foreign to a lot of us. We underestimate the power of the dollar in America and over estimate the power of a Louis Bag. When you lack money you look at the things you could get when you have money. When you get money you go and get those things. Many of us also get money, spend money and do things for the gram just because we have very low opinions of ourselves that we try to fill with fake social media love. We buy luxury this and that, we travel to the fanciest locations but if we get hit with a 1k emergency we throw up a gofundme. That is a fake life not a free life. This is a viscous cycle of poverty that we never address. We never address our part. If you could just focus on getting money and not spending it all our problems would be solved.
Recently I have fell in love with the concept of financial freedom. What is financial freedom? Finance freedom is a lot of things but what they mostly consist of is freedom from employment aka working for wages.
As I write this multiple things come to mind. You can get to financial freedom through paying down debt. You can also get there by creating enough passive income that you exceed your living expenses. You can also get there by living a lean life while you earn massive income such that you can stash the majority of your working income to build a “forget you” fund that liberates you from the NEED to work (could be $100k). There are many ways to do it. But the key is not HAVING to work.
What I wan’t to impress on you is that it doesn’t have to be some large number like $10m. You don’t have to hit the lottery. You merely need a cushion, some passive income and low to now debt dependency.
I am not against work, I am against HAVING to work.
One of my biggest pet peeves is the feeling that I have to be humble in the face of employment to please the powers that be so rent can get paid. One of my biggest fears is being let go from a job with no reserves, immediately thrusting the homelessness upon myself. It has happened to me before and I won’t allow it to happen again. I used to hate that I had lost jobs that then made me scrambling to pay rent. I always have a backstop but I want the security of not having to lean on that backstop. Financial freedom is that security.
As I age I continue to put up barriers to homelessness which also are financial freedom. I get windfalls and I don’t spend them. I put them toward my freedom fund. I get huge capital gains and business income and immediately stash and invest them toward my freedom fund. 32 year old me is freedom oriented not flash oriented.
Financial freedom is working because you want to not because you have to. Many of us are tied to work we despise just because the mortgage must be paid or we must pay the note on our baller vehicle. There is a better way. A better way is two fold. Chunk out your hefty debt that traps you to a job. Any debt the traps you to a job must be destroyed. Second acquire assets that generate income without the need to work. This should also help expedite the debt pay down with the additional income.
Once you get to this place you can get rich. Why? You have the time to do the important high dollar work. It amazes me the amount of money my business earns compared to the money my job earns yet my job gets the majority of my most productive time. If I were to flip this and give my business my productive time I could make ten times what I make on my job. Freedom allows for that.
The goal is not to get rich and retire the goal is to retire and get rich. The free time, resources and etc that avail themselves to you once you are free allow you to reach wealth.
Stop running the race to get rich and start running the race to get free. After you get free, rich is easy.
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Thanks for reading!
Be great, invest well,