Financial Freedom Archives

Motivating People to Reach a Million Dollars

I listen to a podcast called the million dollar plan. It is a 1 on 1 interview style show where the host discusses the finances of a featured guest. The gist of it is to reveal when the interviewee will reach a million dollars. That million dollar day could be 4 decades in the future, but the host (Pete) discusses with them how to speed up that process and reach a million dollars sooner with several action steps. Motivating People to Reach a Million Dollars is necessary to any money coach. Because when clients succeed everyone wins.

Now with this topic about finances fresh in your mind, do you have any idea when you will reach a million dollars, or if you even have a plan to reach it? Many people in the media now days always put off a million bucks like it’s not enough. But believe me a million bucks far supersedes the investment accounts of most baby boomers. The average boomer over 60 years of age has about 2ooK in retirement accounts as advertised in the same media outlets that say a million is chump change.

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6 Creative Ways to Save and Eventually Replace Income

They say if you can save 25 times annual expenses that you can retire so lets play a fun game of thinking in terms of 25 times saving goals. Below is a fun list to get you to think differently about money. I believe we all have the opportunity to win with personal finance and it merely begins with choices. The choice to save 25X expenses is very difficult and I wont sugar coat it. But with every passing day and year, you can get a bit closer. See below for the 6 creative ways to save and eventually replace income.

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The 6 Steps to Freedom

Hey do you desire freedom? Is it tugging at you as you slave away for 40 hours a week sitting at a cubicle? We should all be striving to reach freedom in any way possible. No job ever truly has your back, because they want you plugged in and locked down with golden hand cuffs for eternity. How long is a long time, 40 years is the average amount of time people end up working. Add up the school years and it balloons to 60 years. Now if those stats don’t motivate you to complete the 6 steps of freedom then I do not know what will.

Imagine a time where the alarm clock doesn’t go off and you can now enjoy 3 day weekends. The boss will be very jealous of you when you hand in your resignation letter because said boss wants freedom too.(Boss just doesn’t disclose the desire all to protect the company’s bottom line)

I have 3 weeks of vacation time and with 52 weeks in the year, it is not enough to allow me a 3 day weekend every week. So I must pursue freedom because of this fact and because I just don’t like people telling me what to do. I place a higher value on family and a more favorable life / work balance. Continue reading The 6 Steps to Freedom

Why I Want Financial Freedom

What’s going on my peeps? I want to talk a bit about my favorite topic financial freedom. I want to discuss this because its way more enjoyable than talking about debt. Why I want financial freedom is very simple, because we as humans were truly meant to be free. Once you feel the tug of this FI desire, you will understand. If it hasn’t hit you yet, be ready cause it will one day.

Do you fully grasp that this system is set up to trap us from a very young age. From school years and quickly transition to work yeara till age 67 plus.

My mom had the same desire to be free as she retired at age 39 and lived how she wanted for the next 10 years or so of her life. She started a few businesses and just hustled while enjoying life. Eventually she went back to work but only because she wanted to pass the time I believe after becoming an empty nester.

Even the super rich are trapped in this unfavorable cycle of being beholden to others. The rich CEO reports to the board, Warren Buffet has shareholders and his own obsessiveness of growing his business, politicians are controlled by other more powerful people or political parties who pull the strings, the movie star is at the mercy of recording studio heads, the doctor is bound to his patients or to the director of doctors. I can keep going if you would like, but you get the gist of it.

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Why is Time Important

Time is of the essence since the day we are born. But many people do not understand this because when we are young, time feels limitless and abundant. Summers felt like a year and a school year felt like two years. The math quiz felt like 4 hours when in reality it was only 20 minutes. Time in the old days just took its sweet time. Is it a mix of young innocence and more patience, or was it really a slower paced life in the old days. No one really knows and you shouldn’t care, because the past is the past. Why is time important today, because we all need to grab time and use it wisely.

I lost my mom last week and it has been hard on me. I wish I would’ve spent more time with her and talked more. That feeling when you know you will never speak to a loved one again is tougher than I ever imagined. This is why time is important. The opportunity to not waste time is evident every day of our lives. It is right in our face, but what do we do, we just don’t realize that it could be slipping away minute by minute.

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MLK Day and Contentment

MLK day and contentment

As I think back when I was a young boy all the memories come back at random occasions, and a flashback is replaying itself in real time. Have you ever had one of these moments when you look back as if you had a Delorean that actually went back in time. The memories are the only thing we really need to recreate the past. On this special day we celebrate Martin Luther King Day and how content we all should really be. Could we improve every year of course, but at times let’s appreciate the present and how far we’ve come. Today is MLK day and contentment is something not spoken about often enough.

Every year I think about my dreams and how as a kid on this special day we were told stories about a man who wanted more for our society regarding equality. The we have a dream speech was replayed every year since I can remember and it has evolved every year. We all can and should do more to uplift one another in a positive way. Also we need more realistic communications about how to live life in a financially responsible manner. This is a personal finance site so I will now steer the topic back to finances and to make the final point.

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The Unconventional Wisdom Behind Early Financial Independence

Once you understand that being unconventional in how you handle finances will bring you a sense of freedom, it will all fall into place. I believe there are two sides to personal finance, the consumer mindset, where you feel no control over money, and the unconventional side of finance. Where you direct your money to go places, and feel more at ease. This is where the unconventional wisdom behind early financial independence comes into play.

It takes either a drastic switch of lifestyle to mature into this new mindset, or it can just happen once you realize that spending excessively doesn’t make you happier. Some people feel that unconventional financial management is a deprivation of some sort, or a lacking of having fun. But in reality it is the opposite. Yes I tend to save a lot for the future, but it is done with purpose and that is what makes me happy. Hidden in our lives is a natural state of satisfaction with knowing that freedom is right around the corner.

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The Long Journey towards Financial Freedom

As we have come to realize a journey must be taken to achieve anything in life, including the long journey towards financial freedom. What is the freedom I am talking about or writing about to you today? Many of you must be thinking, I have plenty of freedom in my life at this moment. But in reality 70-85% of all Americans do not have the freedom to do as they please on any given day. From the time we are school aged to the time we hit retirement we are in some level of bondage. WOW did Rich Uncle EL just use the word bondage to describe how our modern society operates? Yes I did because after working in corporate America for over 10 years, I clearly have seen and read the facts facing the struggles of modern age society.

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