Financially free
What is financial freedom?
What does it take to become financially free?
What will financial freedom give you?
What will financial freedom cost you?
What does financial freedom look, feel, smell, taste, sound like to you?
What can you do to become financially free?
What does it take to become financially free?
What will financial freedom give you?
What will financial freedom cost you?
What does financial freedom look, feel, smell, taste, sound like to you?
What can you do to become financially free?
"Formal education will make you a living; self-education will make you a fortune."
-Jim Rohn
A little story....
A wealthy businessman goes on vacation to an island. While he is on the island he decides he wants to go on a boat to fish. When he arrives to the dock he sees a man bringing a ship into port. The wealthy businessman and the local fisherman begin to converse. He tells the businessman that he was born and raised on the island and everyday he takes out a charter for tourists fairly early, docks the boat and calls it a day early in the afternoon, goes home to play and have dinner with his children, read them stories every night before bed, and once they were asleep he could step outside to have wine with his wife as they would dance under the stars gazing into each other's eyes. The businessman immediately begins to look at the boat, the long lines of tourists and starts salivating at the potential profit and capital this venture could make. His business pitch was about to begin....
He looks at the fisherman and tells him that the two could become partners and they he could make him wealthier than he would ever imagine. He would advise and help him hire another hand that could work even earlier and later into the day. This would maximum the hours in the day and help grow even more revenue. When they reached maximum capacity they could purchase another boat and hire more help. The businessman continues his pitch that once they had two boats, they could follow the same business plan until they had a stronghold on the dock. They could expand the business into neighboring ports, build the brand, get private investors to fund more ships, and eventually become a major player in the boating industry. Once they got big enough they could list on the stock exchange and make even more money to purchase even more boats. He continued the story as his eyes lit up with green.
The fisherman happily listened, and once the businessman had concluded his pitch he then asked, "What would I do then?" The businessman said whatever you wanted because you would be filthy rich. The businessman looked at him and said you could do whatever you wanted. The fisherman paused for a second and then looked at him and smiled and said, "I could work a few hours and bring happiness to people visiting the home he loved doing something he enjoyed, get home to spend quality time with my children, have a family meal, and have local wine with the love of his life under the most beautiful of skies?"
He looks at the fisherman and tells him that the two could become partners and they he could make him wealthier than he would ever imagine. He would advise and help him hire another hand that could work even earlier and later into the day. This would maximum the hours in the day and help grow even more revenue. When they reached maximum capacity they could purchase another boat and hire more help. The businessman continues his pitch that once they had two boats, they could follow the same business plan until they had a stronghold on the dock. They could expand the business into neighboring ports, build the brand, get private investors to fund more ships, and eventually become a major player in the boating industry. Once they got big enough they could list on the stock exchange and make even more money to purchase even more boats. He continued the story as his eyes lit up with green.
The fisherman happily listened, and once the businessman had concluded his pitch he then asked, "What would I do then?" The businessman said whatever you wanted because you would be filthy rich. The businessman looked at him and said you could do whatever you wanted. The fisherman paused for a second and then looked at him and smiled and said, "I could work a few hours and bring happiness to people visiting the home he loved doing something he enjoyed, get home to spend quality time with my children, have a family meal, and have local wine with the love of his life under the most beautiful of skies?"
The message as a teacher is that you must know what you want from financial freedom before you can go searching for it!
You must understand why it's important to you and your life before you strive for it.
Sometimes the things we are in search of aren't always the right things and more often than not they are right in front of our faces. We just need to learn to focus on the big picture when it comes to money and life.
What we give:
1. We have amazing careers where we give our energy to hopefully positively impact the future of the world.
2. We are the ones that give our time to make a difference in someone's life.
3. We give our mind to help teach and educate the youth of the world.
4. We entered this profession to empower our students.
5. We share our emotions in the hopes we will make life better for those around us.
What is more powerful than that?
What we get:
1. Our career path allows us to have quality of life and time!
2. We get Mini-retirements as I call them where we have our youth and our health to do the things now.
3. We get intrinsically rewarded when we connect with our students, colleagues, and community.
4. Those are things we should be thankful for and that's even without adding money into the equation.
5. Add money and we get stable income, most states have strong job security (tenure) and we get opportunities to extend our skill set to earn and save more.
So before you go searching for the why's of your Financial Freedom, ask yourself do you already have the things that matter most? Will financial freedom bring you to a place that you are already close to or at? What would more money give you or what would it take away that would make your life better?
You must understand why it's important to you and your life before you strive for it.
Sometimes the things we are in search of aren't always the right things and more often than not they are right in front of our faces. We just need to learn to focus on the big picture when it comes to money and life.
What we give:
1. We have amazing careers where we give our energy to hopefully positively impact the future of the world.
2. We are the ones that give our time to make a difference in someone's life.
3. We give our mind to help teach and educate the youth of the world.
4. We entered this profession to empower our students.
5. We share our emotions in the hopes we will make life better for those around us.
What is more powerful than that?
What we get:
1. Our career path allows us to have quality of life and time!
2. We get Mini-retirements as I call them where we have our youth and our health to do the things now.
3. We get intrinsically rewarded when we connect with our students, colleagues, and community.
4. Those are things we should be thankful for and that's even without adding money into the equation.
5. Add money and we get stable income, most states have strong job security (tenure) and we get opportunities to extend our skill set to earn and save more.
So before you go searching for the why's of your Financial Freedom, ask yourself do you already have the things that matter most? Will financial freedom bring you to a place that you are already close to or at? What would more money give you or what would it take away that would make your life better?
What is Financial Freedom?
Financial freedom means different things to different people. To me it means the following:
MISS GO PEACE
(can you tell I am a teacher?)
Mindful
Independent
Secure
Satisfied
Growth
Options
Peace of Mind
Energized
Advantageous
Control
Empowered
Those are the words that come to my mind when I describe what financial freedom means to me. I associate them with financial freedom because they are what I have experienced on my journey towards becoming financially free. I connect these feelings with how I feel when I don't have to worry about money and I strive towards them because I truly believe that I am able to be my best self!
What words come to your mind?
Take 60 seconds (I gave you 70 seconds below) and write down whatever words are on your mind when you think financial freedom.
Bonus points if you come up with an acronym!
Ready, set, go.....
Bonus points if you come up with an acronym!
Ready, set, go.....
What it takes to become financially free!
It takes a lot of things to become financially free. There are things in and out of your control, however I have narrowed it down to the 4 main things it will takes to obtain financial freedom.
A DreamYou have to figure out what your dream of financial freedom looks, feels, tastes, sounds, and smells like to you.
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A Plan "A dream without a plan is just a wish." You need a game plan on how you are going to reach your dream. How are you going to make it all real?
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TimeIt takes time to earn, save, and invest money. Time is money and money is time!
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MindpowerYou will need discipline, self-control, confidence, and will-power to achieve your dream, follow your plan of attack, and to remain patient while it all falls into place.
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Key financial freedom terms to know
Financial Freedom- is a state of mind when the worry associated with money disappears from your life. It is all about living the life you want without money creating stress.
Financial Independence- is the ability for a person to have enough income to pay one's living expenses (generally through passive income-not working) for the rest of their life without having to be employed or dependent upon others.
Net Income-is basically the number when you take all of your total assets (anything that has monetary value in your life) and minus out your total liabilities (anything that you owe money/ your debt).
Passive Income-is money earned with minimal activity/work on a regular basis. Think receiving money without exerting energy, work or time to earn.
Early Retirement-basically means you have financial independence and you make the conscious decision to stop working. It is about choice and what you want to do with your time and energy.
FIRE-stands for Financial Independence Retire Early and is a movement that centers around reaching retirement as quickly as possible.
Side Hustle-creating money from doing something other than your main source of income. Earning more money than your typical job/profession creates.
Pension-a regular payment/s made to a person retired from an investment fund (large pool of money) that a person or employer contributed into while that person was employed (working). Years of service and requirements apply.
Investing in yourself to financial freedom!
Investing in enhancing your lifeWhat you do in your free time! Things like traveling, working out, reading, cooking/nutrition, volunteering, anything that enhances your life.
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Investing in your skillsPersonal/Professional/ Career Relationships/ Life Goals
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Investing in your whole beingAlways learning and growing and building a stronger mind/body connection
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